Social responsibility is
a. Same as legal responsibility
b. Broader than legal responsibility
c. Narrower than legal responsibility
d. None of them
Answers
Answer:
Social responsibility is Broader than legal responsibility.
Among the given option option (b) Broader than legal responsibility is the correct answer.
Explanation:
Social responsibility of the business to act in such a way which will protect and serve the best interest of the society as a whole along with their own interest, whereas legal responsibility of business organisation is to manage its affairs according to laws.
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Answer:
b.
Explanation:
Social responsibility is broader than legal responsibility. Social responsibility implies the obligation on a business firm to undertake economic activities that contribute towards the overall welfare and development of society and its members. It is a much broader concept than legal responsibility, as legal responsibility can be fulfilled by merely complying with the law, whereas social responsibility deals with the overall welfare of society.
Hence, the correct answer is option (b).