Social responsibility is an ethical theory, in which individuals are accountable for fulfilling their civic duty; the actions of an individual must benefit the whole of society. In this way, there must be a balance between economic growth and the welfare of society and the environment. If this equilibrium is maintained, then social responsibility is accomplished. This is typically an active effort that involves acting against a social issue or prevention of committing harmful acts to the environment. Many companies and individuals engage in social responsibility because of its benefits on their immediate community as well as their businesses. Social responsibility of business implies the obligations of the management of a business enterprise to protect the interests of the society. The objective of managers for taking business decisions is not merely to maximize profits or shareholders’ value but also to serve and protect the interests of other members of a society such as workers, consumers and the community as a whole. However, it will be too idealistic to expect that business enterprises will be purely guided by the benefits they confer on the society by their activities. The concept is that businesses should maximize their profits subject to their working in a socially responsible manner to promote the interests of the society. No business exists in isolation; every part of the society contributes towards the success of a business.