Attributing the CSR Definition to Mahatma Gandhi
The definition, "Wealth created from society has to be ploughed back into society," is famously attributed to Mahatma Gandhi.
This statement highlights a fundamental principle of Corporate Social Responsibility (CSR). It emphasizes that businesses, having generated wealth using societal resources and opportunities, have an ethical obligation to reinvest a portion of that wealth back into the community and society from which it originated.
This principle underscores the idea that business success should contribute to societal well-being.
Correct Option Identification
- The quote aligns with Mahatma Gandhi's philosophy of trusteeship and societal upliftment.
- Option 1 (Milton) is incorrect.
- Option 2 (Henry Ford) is incorrect.
- Option 3 (Mahatma Gandhi) is the correct attribution for this definition.
- Option 4 (Kay and Silberston) is incorrect.
Therefore, the correct answer is Mahatma Gandhi.
Important Questions from Corporate Social Responsibility (CSR)
On which of the following principles is Andrew Carnegie's view on Corporate Social Responsibility, as reflected in his book, 'The Gospel of Wealth' based?
(a) Peter Principle
(b) Scaler Principle
(c) Charity Principle
(d) Steward Principle
Choose the correct option from the following:
What is the minimum prescribed net profit threshold for Companies to be required to undertake Corporate Social Responsibility activities under clause 135 of the Companies Act, 2013?
Which of the following changes was introduced in 2024 under the Companies Act amendments to enhance corporate social responsibility (CSR) transparency in India?
What is the 'Triple Bottom Line Approach' in CSR as mentioned in the passage?
Given below are two statements :
Statement (I): CSR is a holistic and integrated management concept whereby companies integrate their industrial and future objectives with their business objectives.
Statement (II): In this modern digitalized world, business are required to be mindful both in terms of what they are doing and how they are doing.
In the light of the above statements, choose the most appropriate answer from the options given below:
