Advantages of corporate social responsibility concept: evidences from Sri Lanka

Abstract

This is a review paper addresses the Corporate Social Responsibility (CSR) and its present contribution of the Sri Lankan context. Recently, CSR has become a topic of discussion in the Sri Lankan corporate sector. Due to the country‗s serious economic problems the people, employees, customers and other interested parties put pressure on the government and business sector to improve the people‗s social and economic livelihoods. Most of Sri Lanka‗s private companies and groups of companies are run by families, and there is little evidence to show that these companies are engaged in philanthropic activities. This review paper discussed the main contribution of the CSR in the government for the employees, general public and environment as well as the education and health. CSR is renowned and known concept in the world wide organisations. This paper objective was to identify the basic activities of CSR that was implemented in the Sri Lanka‘s organisations. Finally, it was revealed that the country‘s economic, social and environmental development has been increased and the concept of CSR is being helped to develop those development. The government and the private sector both favour the adoption of CSR concepts, and are attempting to promote the implementation of CSR programmes in Sri Lanka.