What is social responsibility?Give examples
Answers
Social responsibility is an ethical framework and suggests that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large.Social responsibility is a duty every individual has to perform so as to maintain a balance between the economy and the ecosystems. A trade-off may exist between economic development, in the material sense, and the welfare of the society and environment, though this has been challenged by many reports over the past decade.Social responsibility means sustaining the equilibrium between the two.
Social responsibility (or, corporate social responsibility) is a theory that asserts that businesses, in addition to maximizing shareholder value, have an obligation to act in a manner that benefits society. The International Organization for Standardization (ISO) emphasizes that a business's ability to maintain a balance between pursuing economic performance and adhering to societal and environmental issues is a critical factor in operating efficiently and effectively.
Social responsibility means that individuals and companies have a duty to act in the best interests of their environment and society as a whole. Social responsibility, as it applies to business, is known as corporate social responsibility (CSR).
The crux of this theory is to enact policies that promote an ethical balance between the dual mandates of striving for profitability and benefiting society as a whole. These policies can be either ones of commission (philanthropy - donations of money, time or resources) or omission ("go green" initiatives like reducing greenhouse gases, abiding by EPA regulations to limit pollution). Many companies, such as those with "green" policies, have made social responsibility an integral part of their business models.