Discuss the forces which are responsible for increasing concern of business enterprises toward social responsibility.
Answers
Answer:
The forces which are responsible for increasing concern of business enterprises toward social responsibility are :
(1) Impact of consumer consciousness :
Due to education and media every consumer is aware and he is the king of the market.
(2) Development of business education :
Forces of market are aware about social responsibility because of development of business education.
(3) Development of professional managerial class :
Today management is becoming more professional as a result of this, we can see a separate class of professional managers. These managers are more interested in satisfying the need of society.
(4) Compelling forces :
Businessman have been forced to consider a social obligation because of ever increasing fear of public interference through the Government.
(5) Persuasive forces :
Enlightened and influential business magnats always appealed to the business community to realise its social obligations.
(6) Trade union :
The development of trade unions among workers have changed the situation. Workers can know how to bargain for higher wages and good working conditions. The business enterprises also try to give more benefits to worker for avoiding conflict.
(7) Market forces :
Increasing competition in the market have made the customer aware of his right in deciding market forces. Market forces are helpful in marketing the business enterprises aware of their social obligations.
HOPE THIS ANSWER WILL HELP YOU...
Here are some more questions from this chapter :
Explain the various elements of business ethics.
https://brainly.in/question/8719308
Build up arguments for and against social responsibilities.
https://brainly.in/question/9975939
Answer:
The following forces have been responsible for increasing concern of business enterprise towards social responsibility are:
(i)Threat of Public Regulation : Threat of public regulation is one important reason due to which business enterprise feels concerned with social responsibility. Democratically elected Govt, have to take care of the interest of different sections of society. Thus they regulate the business behaving in a socially irresponsible manner by passing Acts and legislations regulating the business firms to act in a desired way.
(ii) Pressure of labour Movement : The growing number of educated and organised workers are forcing the business enterprise to pay due regard to the welfare of the workers. The powerful labour movements throughout the world is an example of this.
(iii) Impact of Consumer Consciousness: Development of education and mass media, increasing competition in the market, etc. have made the consumers aware of their rights and powers which has forced business to follow customer-oriented aproach.
(iv) Development of social standards for Business : New social standards consider economic objectives of business enterprise as ligitimate but with the condition that they must also fulfil social needs. Business functioning and performance is to be ultimately judged on the basis of social standards.
(v) Development of Business Education : Educated stakeholders of the business have become more sensitive towards social issues with the development of business education with its rich content of social responsibility.
(vi) Development of Professional Managerial Class : With professionalisation of the ‘management’, now the businesses are prefering the trained educated managers from management institutes and universities who have a positive attitude towards social responsibility along with profit earning.
Explanation: Hope this answers helps you!
Pls mark me as brainlest