Corporate Social Responsibility for the growth of Tourism in J &K

Corporate Social Responsibility is a company voluntary consideration of its social and environmental dimensions which spans within the company activities and also within relationship with all stakeholders. This later by European commission brought out Corporate Social Responsibility as a concept where firms decide voluntarily to contribute to ensure a better society and a cleaner environment.

- PROF. K.S.CHANDRASEKAR

There were researchers across the globe who ventured to find whether a consumer is ready to pay higher prices for products made from socially responsible companies and the findings have shown that indeed they are ready and consider such companies ethically right. In a study conducted at Mexico among 270 socially responsible agro food companies, people were willing to pay more. In a Spanish study, 89% of the total sample is willing to substitute an ethical product for another one only if it has the same or more features and the price continues to remain same. If the company is involved in corporate social responsibilities, it is capable of building trust bonds and commitment with the customers by shaping desirable behaviors on the customers. India is the first country to make corporate social responsibility mandatory through the Companies Act, 2013. This has mandated companies with turnover or net worth basis to contribute a percentage to the corporate social responsibility activities.