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CORPORATE SOCIAL RESPONSIBILITY "Social responsibility of a business is to increase its profits." - Milton Friedman.1 According to Michael.E.Porter, the corporations are going for 'strategic philanthropy' due to the ever increasing pressure from investors for short term profits. But, what the companies believe is strategic is never truly strategic. Increasingly philanthropy is about giving the poor loose change and is a form of advertisement or public relation stunt. So, should companies engage in philanthropy at all? 2 3R. M. Kanter says that a new paradigm for innovation is emerging: a partnership between private enterprise and public interest that produces profitable and sustainable change for both sides. Today, the author says, many leading companies are seeing the social sector as an opportunity. The author feels some companies are moving from CSR to corporate social innovation. Traditionally, companies viewed the social sector as a dumping ground for their spare cash, obsolete equipment and tired executives...

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