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Social responsibility
- 1. Social Responsibility BY DR. SHEELU SINGHBHATIA JAZAN UNIVERSITY, KSA
- 2. Social responsibility Social responsibilityrefers to the responsibility of decision makers to take actions which help society & serve own interest . It is also known as corporate social responsibility (CSR) is understood as the obligation of decision makers to take actions which protect & improve the welfare of society as a whole along with their own interests.
- 3. Arguments for CSR 1.Changed public expectations of business 2. Better environment for business 3. Public image 4. Avoidance of government regulation 5. Balance of responsibility 6. Business has the resources . 7. Prevention is better than cure 8. Moral responsibility 9. Globalization
- 4. Reasons for growing concernsfor CSR Consumerism Trade unions Public opinion Enlightened self interest Professionalism Trusteeship
- 5. Arguments against CSR 1.Profit maximization 2. Lack of social skills 3. Business has enough power 4. Social overhead cost 5. Lack of accountability 6. Lack of broad support 7. Society has to pay the cost
- 6. Concept of CSR Socialresponsibility requires managers to consider whether their action is likely to promote the public good to advance the basic belief of our society to contribute to its stability, strength& harmony . It is the obligation of the decision makers to take decisions which protect & improve the welfare of the society as a whole along with their own interests.
- 7. Guidelines for CSR Social responsibility arises from social power Open disclosure of operations & open receipts of inputs from society are essential S Social costs as well as technical feasibility should be taken into account Managers & non managers have responsibility for social involvement in their areas of competence.
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