Question

Q2 "It is the concept of highest goal as ' services to society' when a firm stand in a
long run and earn maximum profits". This statement relates to one of the arguments
for society responsibility.

a) Maintenance of society
b) Availability of resources
c) long term interest
d) better environment​

Answer 1

Answer:

here is the answers

Explanation:

Social responsibility of business refers to its obligation to take those decisions and perform those actions which are desirable in terms of the objective and values of our society. It refers to the obligation of business towards various social groups like employees, consumers, investors, government etc. In the words of H. R. Bowen, “Social responsibility of business is to pursue those policies, to make those decisions or to follow those lines of action which are desirable in terms of the objectives and values of our society

Legal responsibility is the responsibility that a business has by virtue of law. Differences between Social and Legal Responsibility.

Legal responsibility is compulsory under any of the laws, acts and constitution. Social responsibility is not backed by legal provisions.

Legal responsibility is compulsion while social responsibility is a choice.

Many a time, legal responsibility is fulfilled in the name of social responsibility.

There are no punishments for organizations not following their social responsibility but legal action can be taken against organizations not following their legal responsibility.