Question

What do you mean by social responsibility? Explain some points favouring social responsibility of business​

Answer 1

Heyya ❤️

Answer :--

$\boxed{Social Resposibility;}$

It means to take into account the feelings and needs of a community over your own gains. The level of resposibility is subjective, but it generally means you are not hurting anyone in community through your own actions.

In a corporate sense it means ‘owning-up’ to your actions as a business. If your company pollutes, you create actions to clean-up or mitigate the negative effects etc.

• Points favouring social responsibility of

                      business

The purpose of business goes beyond earning profit. These are:

• Offers of better quality of life

• Creation of job opportunities.
• It is an important institution in society.

• Be it for the supply of goods and services

• Contributing to the economic growth of the country.
• Does not indulge in corruption to get contracts, special deals, exclusive rights to sell a product/service

• Pays a fair, livable wage to employees

• Has non discriminatory policies in hiring, hikes and promotions

• Gives employees free/subsidized health insurance

• Has well defined working hours and pays employees overtime pay in case of working extra hours.

• Gives employees paid vacation

• Does not pollute/harm the environment in any direct way.

• Generally, does not do business with companies that break any of the above rules.
• Does not cheat consumers.

• Does not monopolize an industry

• Does not price gouge customers who are dependent on products  
• Maintain a safe culture at work that prevents and punishes sexual harassment.

• Pays taxes that are owed to the government

Answer 2

$\huge \sf \pink{{SoCial \: Responsibilitys}}$

• Social responsibility is the duty of businesses towards society. ... Businessmen must review their impact of decisions and actions on the different sections of society.
• Social responsibility in business, also known as corporate social responsibility (CSR), pertains to people and organizations behaving and conducting business ethically and with sensitivity towards social, cultural, economic, and environmental issues.
• Social responsibility means that businesses, in addition to maximizing shareholder value, should act in a manner that benefits society. ... Socially responsible companies should adopt policies that promote the well-being of society and the environment while lessening negative impacts on them.
• Being a socially responsible company can bolster a company's image and build its brand. Social responsibility empowers employees to leverage the corporate resources at their disposal to do good. Formal corporate social responsibility programs can boost employee morale and lead to greater productivity in the workforce.