Privatization, Deregulation and Liberalization is creating more and more space for firms to make their place in the corporate purpose.. International agreements have given more rights to the firms to manage internationally.
It has also found it is more important in the liberalization of investment and for trade.it is beneficiary for the growth of the global economy and other parts.
The main concept of “social responsibility” is to grab and discover an answer to this question.
It implies that firms have obligations that go beyond what countries require individually, and agreements prescribe internationally. Perception of greater social responsibility by TNCs would be particularly important in light of the economic and social disruptions that accompany the globalization process, which — if not tackled — could threaten the very framework within which firms build their international production systems.
Corporate social responsibility is related to how much business enterprises are involved , and impact on a society’s needs and goals.
All societal groups are expected to perform certain roles and functions that can change over time with a society’s own evolution. Expectations related to business enterprises, and particularly TNCs, are undergoing unusually rapid change due to the expanded role these enterprises play in a globalizing society. Discussions relating to TNC social responsibility standards and performance therefore comprise an important component of efforts to develop a stable, prosperous and just global society.
TNCs, by definition, operate in multiple societies around the world, responding to each country’s legal requirements while adjusting to diverse social and economic conditions.
Prof. Dr.Rashmi Gujrati Professor (Management ) TIAS New Delhi India