Social responsibility

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Social responsibility of business towards different sections of society .Reasons for the development of social responsibility concept,Arguments against social responsibility,
Social activities undertaken by some companies

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Social responsibility

  1. 1. Social Responsibility of Business By: Amanjot Kaur (MBA 1st semester)
  2. 2. Contents1. Introduction2. Social responsibility of business towards different sections of society Towards owners or shareholders Towards employees Towards consumers Towards government and Suppliers Towards community3. Reasons for the development of social responsibility concept4. Arguments against social responsibility5. Social activities undertaken by some companies
  3. 3. Introduction According to H.R. BOWEN, ”Social responsibility is to pursue those policies and decisions or to follow those lines of actions which are desirable in terms of its objectives and values of our society.” Social responsibility refers to the obligations and duties of the business towards the society. The aim of business is no longer only profit maximization but also to be socially responsible.
  4. 4. Social responsibility of business towardsdifferent sections of society: Owners Employees Suppliers Community Business Consumers Environment Government
  5. 5. Being so much dependent on society ,thebusiness has a definite responsibility towardsdifferent segments of society: Towards owners or shareholders:•To safeguard the capital.•To provide fair and regular return on thecapital employed.•To ensure proper utilization of investedcapital.•Timely payment of dividend.•To provide regular information about thecompany.
  6. 6. Contd……Towards employees:•Proper selection,training and promotion.•Providing fair wages.•Ensuring health, safety and comfortable workingconditions.•Education of employees.•Participative management.•Providing an efficient complaint handling system.
  7. 7. Towards government:•To fulfill all legal requirements.•Payment of taxes in time.•Executing government contracts in a fair manner.•To provide inputs to government about changes inpolicy that can result in growth and development.Towards suppliers:•To develop and maintain healthy relations withsuppliers.•Dealing with suppliers should be based on fair termsand conditions.•payment should also be made on time.
  8. 8. Towards consumers:•To provide goods in time and also efficient after sales services.•To manufacture the product according to the needs ofcustomers.•produce and supply quality products at reasonable rates.•To avoid misleading the consumers by improper advertising ofthe products.•To provide opportunity to consumers for making complaintsand to handle the genuine complaints.•To prevent black marketing .
  9. 9. Reasons for the development ofsocial responsibility concept:•Consumerism•Government interference•Trade unions•Public opinion•Awareness•Professionalism
  10. 10. Arguments in favor of social responsibility Dependence of business on society, Long run profit.Freedom from government control, huge financial resources.Consumer’s consciousness , better social environment…etc.Arguments against social responsibility of business•Ignoring the main objective ,Lead to increase in prices.•Overburden on business ,Need for profit maximization.• lack of accountability..etc.
  11. 11. Social activities undertaken by some companies

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