Barriers of Social Responsibility

Every one has some barriers to perform social responsibilities.
1. The individual manager:
Managers are the ultimate person to perform social responsibilities. There some managers who want to retard to perform social responsibilities. They don’t want that any change comes in the business because they have to face the new challenges. So their attitude that means their attitude is negative to the society.

Arguments Against to Social Responsibility

The major arguments against the assumption of social responsibilities by business are:
1) Violation of profit maximization: This is the essence of the classical viewpoint. Business is most socially responsible when it attends strictly to its economic interests and leaves other activities to other institutions.

2) Dilution of purpose: The pursuit of social goals dilutes business’s primary purpose: economic productivity. Society may suffer as both economic and social goals are poorly accomplished.

Arguments for Social Responsibility

The major arguments for the assumption of social responsibilities by business are:
1) Public expectations: Social expectations of business have increased dramatically since the 1960s. Public opinion in support of business pursuing social as well as economic goals is now well solidified.

2) Long run profits: Socially responsible businesses tend to have more and secure long run profits. This is the normal result of the better community relations and improved business image that responsible.

Government Responsibility to Business

1. Establishment and Enforcement of law:
Government established and enforces law and regulation under which the business functions. Law and regulations covering all aspects of business enacted by the government.

2. Money and credit:
Government provides a system of money and credit by means of which transaction can be affected.

Business Responsibility towards Different Interest Groups

After getting some idea about the concept and importance of social responsibility of business let us look into the various responsibilities that a business has towards different groups with whom it interacts. The business generally interacts with owners, investors, employees, suppliers, customers, competitors, government and

Social responsibility strategies

Social responsibility strategies:

1. Social opposition:
Social opposition is the groups or organization they don’t support the society. They don’t want that any positive change come in the society. These organizations don’t perform any development activities for society.

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. As you have already learnt, the interest groups may be owners, investors, employees, consumers, government and society or community. But the question arises, why should

Concept of Social Responsibility

Concept of Social Responsibility:
We all know that people engage in business to earn profit. 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. So, every business must contribute in

Definition of Social Responsibilities of Business

Definition of Social Responsibilities of Business:

You know that business is an economic activity, which is carried out on a regular basis to earn profit. However, you must have seen businessmen spending money on different aspects, which is not going to give them any profit straightway. For example, you must have seen businessmen maintaining and developing gardens and parks on streets and squares in cities.

Definition of Social Responsibility

Definition of Social Responsibility:
In your daily life, you perform a number of activities. For example, brushing your teeth, listening to your parents, showing respect to elders obeying traffic rules on road etc. Now why do you perform all these activities? It is because you live in a family as well as in a society and the members of your family as well as the society want you to do all of them.

Importance of Ethical Business Decisions

Companies and businesspeople who wish to thrive long-term must adopt sound ethical decision-making practices. Companies and people who behave in a socially responsible manner are much more likely to enjoy ultimate success than those whose actions are motivated solely by profits. Knowing the difference between

Nature of Business Ethics

Nature of Business Ethics:
Ethics are learned early in life from parents and family, peers, teachers and significant others and are either reinforced or altered by subsequent experience. Because ethics deal with those activities of business enterprises some of which should be done and some should not be done for the society. A businessman must practice some ethics. Which are discussed below?

Why Business Ethics?

Everyone agrees that business managers must understand finance and marketing. But is it necessary for them to study ethics?
Managers who answer in the negative generally base their thinking on one of three rationales. They may simply say that they have no reason to be ethical. They see why they should make a profit, and most agree

Definition of Business Ethics

Business ethics can be defined as written and unwritten codes of principles and values that govern decisions and actions within a company. In the business world, the organization's culture sets standards for determining the difference between good and bad decision making and behavior. In the most basic terms, a definition for