Business Social Responsibility

Profit making is not considered the sole function of business because it performs various social functions and contributes to the benefit of the society and community.

The two important points are: 1) Business activities should not be perceived as charity, and 2) Business activities should not be harmful to society.

The social responsibility of business is to perform a number of social functions as a part of the society, taking care of the owners, investors, employees, consumers, government, and the society and community in general.

<p>Donating money to a hospital or temple is not considered fulfillment of social responsibility, and engaging in harmful activities like smuggling or cheating customers cannot be socially justified.</p> Signup and view all the answers

<p>The concept of social responsibility discourages businesses from adopting unfair means like black marketing, adulteration, tax evasion, and cheating customers for profit.</p> Signup and view all the answers