What Is Social Responsibility Of Business Class 11?

Answer: Social responsibility of business refers to

its obligation to take those decisions and perform those actions which are desirable in terms of the objective and values of our society

. It refers to the obligation of business towards various social groups like employees, consumers, investors, government etc.

What are the 4 types of social responsibility?

• Environmental Responsibility. …
• Ethical Responsibility. …
• Philanthropic Responsibility. …
• Economic Responsibility.

What is the social responsibility of the business?

Social responsibility means that businesses, in

addition to maximizing shareholder value, should act in a manner that benefits society

. Socially responsible companies should adopt policies that promote the well-being of society and the environment while lessening negative impacts on them.

What is social responsibility and examples?

Working for the community

, such as volunteering, giving blood donations, and working at a food bank or animal shelter. Supporting issues that affect society, such as advocating political or social issues that can help others—for example, advocating for child labor laws, purchasing fair trade products, recycling.

What is our social responsibility?

Social responsibility is an ethical theory in which

individuals are accountable for fulfilling their civic duty

, and the actions of an individual must benefit the whole of society. In this way, there must be a balance between economic growth and the welfare of society and the environment.

What is meant by social responsibility of marketing?

Social responsibility in marketing involves

focusing efforts on attracting consumers who want to make a positive difference with their purchases

. Many companies have adopted socially responsible elements in their marketing strategies as a means to help a community via beneficial services and products.

How can you be socially responsible?

1. Establish a social mission. …
2. Establish realistic goals. …
3. Educate your employees. …
4. Organize an in-house social responsibility team. …
5. Direct contributions. …
6. Encourage volunteering. …
7. Ethical labor practices. …
8. Think about sustainability.

What do you mean by social responsibility of business Brainly?

Answer: Explanation:Social Responsibility of a Business. It is

the idea that businesses should balance profit-making activities with activities that benefit society

; it involves developing businesses with a positive relationship with the society in which they operate.

What are 4 main benefits of social responsibility?

• Increased employee satisfaction. The way a company treats its community says a lot about how a company treats its employees. …
• Improved public image. …
• Increased customer loyalty. …
• Increased creativity.

What is social responsibility according to authors?

The most earliest and prominent definitions ascribed to CSR is the one given by Howard Bowen who (Carroll, 1999) refer to as the father of Corporate social responsibility “

the obligations of businessmen to pursue those policies, to make those decisions, or to follow those lines of action which are desirable in terms of

…

What are the social responsibilities of business and government?

(1)

Observation of Rules and Regulation

: The organization are required to follow the rules and regulations laid by the government in proper manner. (2) Payment of Taxes:The business organizations must pay taxes and duties regularly to the government such as sales tax, income tax, octroi duty, custom duty, VAT, etc.

What is ethics and social responsibility in business?

Ethics vs. Social Responsibility. … While ethics, in general, are concerned with right and wrong, business ethics focus on doing what is best for the shareholders and stakeholders. On the other hand,

social responsibility is focused on the company’s impact on the environment and community

.

What is meant by social responsibility of business state the responsibilities of business towards the community?

Responsibility of business towards community and society includes

spending a part of profits towards civic and educational facilities

. Every industrial undertaking should take steps to dispose of Industrial wastes in such a way that ecological balance is maintained and environmental pollution is prevented.

Why social responsibility is important in society?

It’s clear why corporate social responsibility is important to organizations:

it enhances public trust

; it makes an organization a more attractive prospect for employees, particularly Millennials; it leads to more engaged employees, and let’s not forget that engaging in CSR and becoming a responsible business can have …

What is social responsibility Covid?

Social responsibility is

our obligation to act for the benefit of society at large

. Teens with higher levels of social responsibility are more likely to engage in social distancing, news monitoring, and less hoarding during the COVID-19 outbreak.

How important is social responsibility to consumers?

CSR can improve customers’ perception of your brand.

Simply put, social responsibility can

help people see your company as a positive force in society

. … For their loyalty, consumers expect brands and businesses to not be all about making a profit, but to give back to society.

How can a business be socially responsible to customers?

Among the ways you can show your honesty include being clear and consistent in marketing messages,

being up front with customers before

, during and after sales and following through on all commitments you make in your business and community dealings.

What are human rights Brainly in?

What are human rights? Human rights are

rights inherent to all human beings

, whatever our nationality, place of residence, sex, national or ethnic origin, colour, religion, language, or any other status. We are all equally entitled to our human rights without discrimination.

How can I make my business socially responsible?

1. Adopt a business code of ethics. …
2. Follow a workplace health and safety program. …
3. Commit to protecting the environment. …
4. Get your suppliers on board. …
5. Be smart about donating money. …
6. Don’t greenwash your business.

Why should business be socially responsible give any three reasons?

Study after study has shown that socially responsible businesses (aka social enterprises) not only

provide sustainable business models

, but also have improved marketing, employee recruitment, employee satisfaction, legal treatment, customer loyalty, brand perception, and richer partnerships.

What are the benefits of social responsibility to companies?

• better brand recognition.
• positive business reputation.
• increased sales and customer loyalty.
• operational costs savings.
• better financial performance.
• greater ability to attract talent and retain staff.
• organisational growth.
• easier access to capital.

What are four areas of social responsibility that may require the attention of business?

Tip. The four types of Corporate Social Responsibility are

philanthropy, environment conservation, diversity and labor practices, and volunteerism

.

What is the benefits of social responsibility?

CSR helps companies become more sustainable. One obvious way to become socially responsible is to

reduce carbon emissions and start using renewable energy

. Companies can also do it through encouraging its workers to turn off devices when they are not using them and turn off the lights and air conditioners after work.

What is the social responsibility of a business towards consumers and government?

Regular supply of goods at the right price and right place

. Provide sufficient quantity and quality of goods as per demands. A large variety of products should be provided to consumers. The goods must meet the needs of consumers of different classes, taste, purchasing power etc.

What are the social responsibility of business towards its various stakeholders?

Here’s what we argue: The social responsibility of business is

to create value for stakeholders

. That means its customers, suppliers, employees, and communities, as well as its shareholders.

Which is an example of social responsibility in the business world?

Examples of social responsibility in corporations

Charitable giving and volunteer efforts

: Companies are giving employees time off for volunteering every year and also donating portions of revenue to a charitable organization.

How social responsibility is different from legal responsibility?

Social responsibility is broader than legal responsibility of business. Legal responsibility may be fulfilled by mere compliance with the law, but social responsibility

includes voluntary obligations towards society not covered by law

. along with the obligations laid down by law.