Technological Social Responsibility (TRS) and its Embodiment into the Corporate Strategy

Abstract

Businesses across the globe have started undertaking various society welfare centric initiatives as part of their business strategy. Some are doing it voluntarily while some are required to do it as a regulatory mandate. The businesses are doing it benefiting both themselves as well as society. The social acceptability increases manifold when a business upholds its corporate social responsibility and contribute towards the social development goals. One another area of businesses’ strategy is coming into the light which is attributed to the rapid adoption of technologies by the businesses. The increased adoption of technology into the business processes sometimes makes an impression that it would reduce employment opportunities. So, corporates need to give due weight to their new responsibility which is known as technological social responsibility (TRS). This paper discusses what TRS is and how it can be taken care of by the businesses by embedding the same into their corporate strategy.