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SOCIAL RESPONSIBILITY OF BUSINESS

Business, as a social institution, has a social responsibility to the society. The ethical
dimension of business is inherent to the social responsibility that it carries in society.
It should welcome the opportunity to share in such responsibility.
-the social responsibility of the business is to increase its profits
-social responsibility-is an ethical framework and suggests than an entity, be it an
organization or individual has an obligation to act to the benefit of society at large

Business, by its very nature and purpose, has a social dimension. It carries with it a
responsibility not only to itself, to the business community, but also to the general
public.
-social responsibility is the duty of every individual to maintain the balance of the
economy and the ecosystem. This responsibility can be passive by avoiding engaging in
socially harmful acts or active by performing activities that directly advance social goals.

Social responsibility is a contemporary issue in business relations. Because the


constraints are difficult, some individuals become unethical in their business
practices to attain their business powers.
-they do not look closely at the means to influence desired change where needed. Thus
the emphasis is on profit rather than on principle.
-business has a social responsibility and social responsibility is good business, every
individual has a role and responsibility to serve in that society. It should be noted that
business being a social activity cannot function unless certain moral prerequisites are
fulfilled

Business must, therefore, abide by the obligations of his organization to its


employees, customers, business associates, and the communities in which it does
business. Otherwise, it will fail to attain its organizational goals.

ACCORDING TO HOWARD R. BOWEN

THREE REASON FOR GROWING CONCERN OF BUSINESSMEN ABOUT


THEIR SOCIAL RESPOSIBILTY

1. They have been forced to become more concerned because of such things as
informed public opinion, public control and regulation threats of public ownership,
better education of individuals, the rise of labor unions and increasingly effective
communication among people;
2. They have been persuaded to become shares and participants in the developing
attitudes and values of people in society and by the growth of knowledge,
managerial skills and the need to grapple with problems of change in society and
3. The separation of ownership and control have set up conditions favorable to the
growing concern, such as the values associated with the professional point of view.