Social Responsibility of Business
Social Responsibility of Business
Name= Bisweswar Chakraborty
BBA, 4th Semester, 2nd year
* Introduction :-
* Social Responsibility :-
Social responsibility is an ethical theory that an entity, be it an organization or individual, has an obligation to act to benefit society at large.
In our daily life, you perform a number of activities. For example, brushing our teeth, showing respect to elders obeying traffic rules on road etc. Now why do we perform all ...view middle of the document...
Social responsibility of business refers to all such duties and obligations of business directed towards the welfare of society. These duties can be a part of the routine functions of carrying on business activity or they may be an additional function of carrying out welfare activity.
However, while doing so two things need to be noted to view it as social responsibility of business. First, any such activity is not charity. It means that if any business donates some amount of money to any hospital or temple or school and college etc., it is not to be considered as discharge of social responsibility because charity does not imply fulfilling responsibility. Secondly, any such activity should not be such that it is good for somebody and bad for others. Suppose a businessman makes a lot of money by smuggling or by cheating customers, and then runs a hospital to treat poor patients at low prices his actions cannot be socially justified. Social responsibility implies that a businessman should not do anything harmful to the society in course of his business activities. The obligation of any business to protect and serve public interest is known as social responsibility of business.
* Objective of The Study :-
The objective of this paper is to examine the scope of social responsibility Business initiatives in developing social infrastructure in India and also to study its relevance in contemporary business scenario.
* Methodology :-
i. Primary :-
Primary data was collected from our class teacher Mr. Tapas Mukherjee.
ii. Secondary :-
Secondary data collected from Wikipedia , Encyclopedia, Google such, and so on .
* Why should business be socially responsible :-
Social responsibility is a voluntary effort on the part of business to take various steps:-
i. Public Image :-
The activities of business towards the welfare of the society earn goodwill and reputation for the business. The earnings of business also depend upon the public image of its activities. People prefer to buy products of a company that engages itself in various social welfare programs.
ii. Government Regulation:-
To avoid government regulations businessmen should discharge their duties voluntarily. For example, if any business firm pollutes the environment it will naturally come under strict government regulation, which may ultimately force the firm to close down its business. Instead, the business firm should engage itself in maintaining a pollution free environment.
iii. Survival and Growth :-
Every business is a part of the society. So for its survival and growth, support from the society is very much essential. Business utilizes the available resources like power, water, land, roads, etc. of the society. So it should be the responsibility of every business to spend a part of its profit for the welfare of the society.
iv. Employee satisfaction :-
Besides getting good salary and working in a healthy atmosphere, employees...