social responsibility of business

SOCIAL RESPONSIBILITY OF BUSINESS

Every individual has some responsibility towards society! So does the business have! since business is getting all the resources from society( human, material and financial resources) it has to give something in return to the society which is providing it all the means to survive! business may return in the form of good services, quality product, pollution free enviornment, payment of taxes on time and lot many other ways.

Social Responsibility is being responsible to people, for the actions of people and for actions that affect people, hence it means obligation of business towards different social group, i.e. the consumers, employees, shareholders, society, government, media and so on. As Abraham Lincoln once said that "public sentiments is everything. With public sentiments nothing can fail, without it, nothing can succeed. "so saying this that without shouldering on the social responsibility business can not achieve its desired goals will not be an exaggeration.
Need for social responsibility

Need for social responsibility is felt because of various reasons .

Some of them are following-

• for getting better environment to work.
• for goodwill creation .
• for avoidance of government regulation.
• for rappot building with customers and employees.
• to stay in the market in long term.
• for fulfilling ethical responsibility CSR (CORPORATE SOCIAL RESPONSIBILITY)
  As recently as a decade ago, many companies viewed business ethics only in terms of administrative compliance with legal standards and adherence to internal rules and regulations. Today the situation is different. Attention to business ethics is on the rise across the world and many companies realize that in order to succeed, they must earn the respect and confidence of their customers. Like never before, corporations are being asked, encouraged and prodded to improve their business practices to emphasize legal and ethical behavior. Companies, professional firms and individuals alike are being held increasingly accountable for their actions, as demand grows for higher standards of corporate social responsibility.
• DEFINITIONS OF CSR
• "Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large"

"CSR is about capacity building for sustainable livelihoods. It respects cultural differences and finds the business opportunities in building the skills of employees, the community and the government"

CASE FOR SOCIAL RESPONSIBILITY

some people find it justified for business to fulfill social responsibility as they find it is an intigral part of business and cant be separated . The followings points can be given for case for social responsibility-

If business needs to remain in the market for a longer period it should fulfill its responsibility towards society as it can not escape from it for a longer period.

Modern governments take good care of interest of common people and to achieve this it keep on making rules and regulations and these rules and regulations are of course . related to businesses also means the pattern of working of people. so in this way it becomes mandatory for business to fulfill social responsibility.

The other argument which is given by people is that - since society is providing all the human and financial resources to business, in return business has to fulfill some responsibilities like to minimize pollution, to provide quality goods and services and to contribute in social security for employees and work for poor section of society.

one very true and interesting point is that - if the business fulfills social responsibilities , in return it will be getting better environment to work with the positive attitude of people.

CASE AGAINST SOCIAL RESPONSIBILITY

some time as it is argued that to fulfill social responsibility is not beneficial for business. people who say so have got the following reasons to this-

Its a difficult task to trade off between profit and responsibility .as one would surely suffer to fulfill another.

If business starts taking care of matters like pollution control and the poor section of society of course it would increase its cost of operation which would ultimately passed on to the consumers.

All social problems can not be solved by business moreover if the business starts doing so it will not be able to concentrate on its main activity.

Though people from society want business houses to fulfill social responsibility but when it comes to support a large section withdraws. like when quality products are produced there cost is higher and people don’t get ready for this.