SOCIAL RESPONSIBILITY OF BUSINESS FIRMS

What is social responsibility?

• Developing and promoting environmentally sound products and practices to gain a competitive edge

• Doing business to meet the needs of the current generation, without harming the ability of future generations to meet their needs

• The protection deliberately or promotion of the interests of consumers

• An ethical theory, in which individuals are accountable for fulfilling their civic duty

THE DUTY OF BUSINESSES TO CONTRIBUTE TO THE WELL-BEING OF SOCIETY

• SOCIAL RESPONSIBILITY
• RULES AND PROCEDURES
• BUILDERS
• FINANCE

COMPANIES NEED TO MAKE SURE THAT THE COMPANY ITSELF IS PROFITABLE

• ECONOMIC RESPONSIBILITY
• LEGAL RESPONSIBILITY
• PHILANTHROPIC RESPONSIBILITY
• RULES AND PROCEDURES

REQUIREMENTS PLACED ON COMPANY BY LAW

• LEGAL RESPONSIBILITY
• PHILANTHROPIC RESPONSIBILITY
• ETHICAL RESPONSIBILITY
• SOCIAL RESPONSIBILITY

CORPORATION LEADERSHIP CORE MISSION ALIGNS TO THEIR ACTIONS

• ETHICAL RESPONSIBILITY
• PHILANTHROPIC RESPONSIBILITY
• SOCIAL RESPONSIBILITY
• RULES AND PROCEDURES

The process of keeping and interpreting financial records.The process of gathering, recording, organizing, and reporting financial data

• ACCOUNTING
• HUMAN RESOURCES MANAGEMENT
• MARKETING
• BUSINESS ETHICS

One of the argument for the social responsibility states that “Social Responsibility helps in converting problems into (a)  

Social responsibility is a broader concept than (a)   Responsibility.

Ensuring safety of investment is the responsibility of an enterprise towards (a)  

To generate more employment opportunities is the social responsibility of business towards (a)