"Modern business organizations are giving higher attention on discharging their social responsibilities." Elaborate and discuss the factors which led to increasing attention being devoted to CSR by these organizations.

It is true that modern organisations have become more social responsibility conscious in comparison to old or traditional organisation and they are paying higher attention towards the discharge of their social responsibility. One of the possible reasons is that these organisations has realised that it is in their own interest to discharge social responsibility. Many factors influencing Corporate Social Responsibility (CSR), some of them are as under: Globalization coupled with focus on cross-border trade, multinational enterprises and global supply chains is increasingly raising CSR concerns relating to Human Resource Management practices, environmental protection, and health and safety, among other things. Governments and Intergovernmental bodies, such as the United Nations, the Organisation for Economic Co-operation and Development and the International Labour Organization have developed compacts, declarations, guidelines, principles and other instruments that outline social norms for acceptable conduct. Advances in communication technology are making it easier to track corporate activities and disseminate information about them. Consumers and investors are showing increased interest in supporting responsible business practices and are demanding more information on how companies are addressing risks and opportunities related to social and environmental issues. Citizens in many countries are making it clear that corporations should meet standards of social and environmental care, no matter where they operate. There is increasing awareness of the limits of government legislative and regulatory initiatives to effectively capture all the issues that corporate social responsibility addresses. Businesses are recognizing that adopting an effective approach to CSR can reduce risk of business disruptions, open up new opportunities, and enhance brand and company reputation. The legislative requirements prescribing mandatory spending on CSR.