Explain Social Responsibility of Business Towards Different Groups

Business depends on society for inputs like money men and skills and also for market where products have to be sold to the customers. Social responsibility means an intelligent arid objective concern for the genuine welfare of the society that limits or prevents individual and corporate behaviour from ultimately destructive activities no matter how immediately profitable and that leads the.

Definitions Of Corporate Social Responsibility What Is Csr Corporate Social Responsibility Social Responsibility Csr

Everything you need to know about the social responsibility of business towards different sections of society.

. Although corporate social responsibility is a very broad concept that is understood and implemented differently by each firm the underlying idea of CSR is to operate in an economically socially and environmentally sustainable manner. To make good and profitable decisions to give a good return on investment. SOCIAL RESPONSIBILITY TOWARDS DIFFERENT INTEREST GROUPS.

Suppliers creditors and others 6. Some specific responsibilities of business towards community and public in general are. Such interest groups may be identified as.

Responsibility towards Owners Owners are the persons who own the business. Obviously a business unit has to decide in which areas it should carry out social goals. They contribute capital andbearthe business risks.

Responsibility of Business towards Different. Coordinating administrative activities with these agencies. Aiding in the development of Social and Cultural resources of the community through corporate Philanthropy.

Iii Controlling environmental pollution. Social responsibility of government towards different groups is explained below. Business organizations have their responsibility towards improvement of the quality of the people of the community.

The company should make all the efforts to maximize and protect shareholders wealth. Every business needs to operate within the laws of the land. The social responsibility of business means various obligations or responsibilities or duties that a business-organization has towards the society within which it exists and operates from.

There are various interest groups in the society which may affect the functioning of a business organisation. Social responsibility in business is also known as corporate social responsibility CSR corporate responsibility corporate citizenship responsible business sustainable responsible business. They are called as interest groups because by each and Livery activity of business the interest of these groups is affected directly or indirectly.

Responsibility towards Different Interest Groups The business generally interacts with owners investors employees suppliers customers competitors government and society. Narayana Chairman of Infosys makes the idea of social responsibility of business quite clear when in a conference on corporate social responsibility he said Corporates foremost social responsibility is to create maximum shareholders value working in a way which is fair to all its stakeholders workers consumers the community government and the environment He. Maximizing profit by producing and selling goods and services required for the society.

Proper utilisation of capital and other resources. The business has the following responsibility towards employees. Explain the social responsibility of business Social Responsibility of Business defines the responsibilities towards the different groups or sectors relating to our corporate sector.

As you have already learnt the interest groups may be owners investors employees consumers government and society or. Social responsibility towards different interest groups. Reality is that despite differing arguments relating to social responsibility business enterprises are concerned with social responsibility because of.

Social Responsibility towards different groupssections in the society. Major responsibility of business towards different sections of society are as. They can and should be engaged in works like improving drainage system adequate clean drinking water facility enhancing sewage disposal system waste management pollution control improving sanitation construction of toilets etc.

Social responsibility of business. Social responsibility of business refers to its obligation to make those decisions and perform those actions which are desirable in terms of the objectives and values of our society. Generally corporate social responsibility initiatives are categorized as follows.

Shareholders are the owners of the company. A law abiding enterprise is a socially responsible enterprise as well. Social Responsibilities for Different Interest Groups 1 Responsibility Towards the Shareholders.

To ensure a good public image. 2 Responsibility Towards the Workers. What are various kinds of social responsibility.

Commitment to the work will raise their morale and loyalty towards the. Social responsibility of business towards its shareholders or investors is most important of all other obligations. Iv Preventing urban congestion.

Protecting the environment and. Kinds of Social Responsibility. 5 Responsibilities towards Community and Public in General.

Education Point Previous Video httpsyoutubexrlxslLoro4Responsibility towards shareholders Responsibility Towards workers Responsibility toward consume. To provide adequate information before investment. I Ensuring best utilisation of the scarce economic resources of society.

Towards Shareholders To ensure safety of their investment. If a business satisfies its funders they are likely to invest more money in a project. Regular payment of dividend and Timely payment of loans.

Social Responsibility of Business towards Society. Business means the total enterprise of the country in man. The security of the job provides mental peace and employees can work with full dedication and concentration.

Ii Generation of maximum employment opportunities. Social responsibility is the idea that an organization or individual is obligated to act to benefit society at largeie to maintain equilibrium between the economy and the ecosystem. Social responsibility is a voluntary effort on the part of business to take various steps to satisfy the expectation of the different interest groups.

Once the social objective of business is recognised it is important to know to whom and for what the business and its management are responsible. Generally the social responsibility of business comprises of certain duties towards entities which are depicted and listed below. Responsibility of Business Towards Different Interest Groups 1.

Sharing of useful information with the shareholders utilization of funds etc. The primary responsibilities of business towards its owners are to Run the business efficiently.

How Should You Business Start It S Corporate Responsibility Program Here S A Great Infog Marketing Strategy Social Media Chores For Kids Social Responsibility

Social Responsibility Of Business Arguments For Against Need Reality

Social Responsibility Of Business Responsibility Towards Consumers Social Responsibility Business Studies Study Organization

Explain The Social Responsibility Of Business Social Responsibility Business Ethics Business