This book is all about discussing, studying, debating and analyzing characteristics and implications of issues related to social and ethical responsibilities of a corporate house particularly in the light of economic recession that has driven many of them bankrupt: ethically, morally and financially. The book begins by asking the basis for corporate social responsibility (CSR) with arguments and discussions that being good corporate citizen, abiding and complying, regulations, ethical and moral principles, is the basic foundation for CSR in a corporation. CSR is not the panacea to the ills and failures of corporate houses, especially at the time of economic and financial crises; the book also explores the other side of the argument. Further the book explains the impact relationship and the balance required between CSR, Human Rights and Business. The extent of such a balance even goes to the balance requirement between economic, social and environmental objectives to achieve viable and sustainable corporate goals. The will to accomplish such a balance lies with a robust corporate governance integrated with CSR that a corporation should practice.