What is social responsibility? Explain modern concept of social responsibility.
Answers
The ethical framework which asks the businesses or entities to act in accordance to the benefit of the society at large is known as social reponsibility.
It is the duty that every one has to perform in order to maintain a balance between the ecosystems and the economy.
It therefore means that there should be a sustained equilibrium between the two.
Answer:
Social responsibility refers to moral responsibility of the business by virtue of being a part of the society and resourceful to serve the society.
The modern concept of social responsibility includes various other aspects of social welfare such as dealing with ethical, legal and economic areas. It not only includes helping the weaker sections of the society but also to protect environment, adhere government laws, optimise the use of resources and undertake corporate social responsibilities.