what do you understand by social responsibility of business? how it is different from legal responsibility
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Social responsibility is the activity that an organization conducts over the statutory requirements for the welfare of society.
Explanation:
1. Social Responsibility
- Social responsibility means that businesses have an obligation to serve in the finest interests of their atmosphere and community.
- It is a system of gaining sustainability. Adopting key social responsibility assumptions can facilitate the long-term growth and prosperity of any organization.
2. Legal Responsibility
- Legal responsibilities are not particularly prone to the entities in the society but also to the industries in the society.
- Firms must accept laws and procedures. Each corporation acquires a duty to serve within the perimeters, batched by the numerous commissions at every standard of the government.
3. Difference between social responsibility and legal responsibility
(I've added the image which has the difference)
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