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    Praveen Kumar
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    Business has a social responsibility to protect public interests and serve society. As businesses operate within society, they have an obligation to ensure their actions do not harm society. While profit is important, businesses also perform social functions like employing workers and providing goods to consumers. To be socially responsible, businesses must balance benefits to stakeholders and not unfairly benefit some at the expense of others. They should also avoid environmental pollution and protect the environment.

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    Social Responsiblity of Business

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    Business has a social responsibility to protect public interests and serve society. As businesses operate within society, they have an obligation to ensure their actions do not harm society. While profit is important, businesses also perform social functions like employing workers and providing goods to consumers. To be socially responsible, businesses must balance benefits to stakeholders and not unfairly benefit some at the expense of others. They should also avoid environmental pollution and protect the environment.

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    Download as PPT, PDF, TXT or read online from Scribd
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    67 views13 pages

    Business Social Responsibility

    Uploaded by

    Praveen Kumar
    Business has a social responsibility to protect public interests and serve society. As businesses operate within society, they have an obligation to ensure their actions do not harm society. While profit is important, businesses also perform social functions like employing workers and providing goods to consumers. To be socially responsible, businesses must balance benefits to stakeholders and not unfairly benefit some at the expense of others. They should also avoid environmental pollution and protect the environment.

    Copyright:

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    of 13

    BUSINESS ENVIRONMENT

    SOCIAL RESPONSIBILITY OF BUSINESS

    What is Social Responsibility

    The obligation of any business to protect and serve public interest is known as social responsibility of business. Any responsibility you have, particularly towards the members of the society with whom you interact or towards the society in general, are called social responsibility.

    Social Responsibility of Business

    Corporate social responsibility is involved with the impact of the companys actions on the society. As we know, every business operates within a society. This creates an obligation on the part of business to look after the welfare of society. So all the activities of the business should be such that they will not harm the interests of the society.

    Concept of Social Responsibility

    However, profit making is not the sole function of business. It performs a number of social functions, as it is a part of the society.

    It takes care of those who are instrumental in securing its existence and survival like- the owners, investors, employees, consumers and government in particular and the society and community in general.

    Concept of Social Responsibility

    while doing so two things need to be noted to view it as social responsibility of business.

    First, any such activity is not charity. Secondly, any such activity should not be such that it is good for somebody and bad for others.

    Thus, the concept of social responsibility discourages businessmen from adopting unfair means. Instead, it encourages them to earn profit through judicious ways.

    Why should business be socially responsible

    Social responsibility is a voluntary effort on the part of business to take various steps to satisfy the expectation of the different interest groups.

    why should the business come forward and be responsible towards these interest groups. Let us consider the following points:
    Public Image

    Why should business be socially responsible

    Government Regulation Survival and Growth Employee satisfaction Consumer Awareness

    Responsibility Towards Different Interest Groups

    Responsibility towards owners Responsibility towards investors Responsibility towards employees Responsibility towards suppliers

    Responsibility Towards Different Interest Groups

    Responsibility towards customers Responsibility towards competitors Responsibility towards government Responsibility towards society

    Environmental Pollution and Role of Business

    Pollution simply means presence of any unwanted substance that creates inconvenience in the natural behavior of living and non-living matter.

    Environmental pollution is of three types: i) Air pollution, ii) Water pollution, and iii) Land Pollution.

    Role of Business in Environmental Pollution

    Business causes pollution in the following ways: - Emission of gas and smoke from manufacturi-ng plants; - Use of machines, vehicles etc. contributing to noise pollution; - Deforestation due to acquisition of forest lands for setting up plants; - Growth of urbanization and industrialization;

    Role of Business in Environmental Pollution

    - Disposal of wastes and effluents into rivers and canals; - Disposal of solid wastes in the open space; - Mining and quarrying activities; and

    - Increasing use of transport.

    Role of Business in Environmental Pollution

    Business can equally be instrumental in fighting pollution and protecting the environment. Business can have three types of role preventive, curative and awareness.

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