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Social Responsibility of Business

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Social responsibility of business towards the customer, employee, environment, government, competitor, society, and investor. If you want to learn more about Social Responsibility of Business, please visit bankofinfo.com

Lyrics

(Source from bankofinfo.com)

Social Responsibility of Business

Organizations should not avoid the social responsibility of business. Many firms recognize the importance of social responsibility and take steps to see that policies are taken and implemented in such a way that they make a positive impact on society. They should practice social responsibility through community support, self-regulation, and social audit.
Definition of Social responsibility of business

Social responsibility is the awareness that business activities have an impact on society and the consideration of that impact by firms in decision-making. The business organization produces goods and services to generate profit. At the same time, it does have some impact on society as well as the whole community. Social responsibility is a must for a business organization. If business firms fail to discharge the responsibility then they will fail to create goodwill and last long.

According to scholars, what is the definition of social responsibility of business, here we given.

“Social responsibility of business refers to the obligations of businessmen’s decisions and actions taken for reasons at least partially beyond the firm’s direct economic and technical interest.” — said by Keith Davis

“Social responsibility is to pursue those policies, to make those decisions, or to follow those lines of action which are desirable in terms of the objectives and values of our society.” — said by Howard D. Bowen

“Corporate Social Responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders.” — said by United Nations Industrial Development Organization (UNIDO)

“Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.” — said by The World Business Council for Sustainable Development (WBCSD).

Social responsibility of business towards the customer, employee, environment, government, competitor, society, and investor. If you want to learn more about Social Responsibility of Business, please visit bankofinfo.com

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