What is social responsibility in business ethics?
Answers
Explanation:
Business ethics and social responsibility are important issues for companies to consider when making decisions. ... Social responsibility is the concept that businesses have a duty to society and the environment and focuses on doing what is best for the well-being of society as a whole.
Social Responsibility
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It refers to responsibility of business towards its society .
Every business has its main objective i.e profit earning but its second and very main objective is social responsibility .The main reason is that if business ignore society as its problem then it will be clear that society can't demand from that business .
For example :- Suppose business X charges high rates for products from its customers and customer finds difficultly to pay it .It show that business can't think about its customers and continue to charge high prices ....
Hence its conclusion that business should take care about its society so that many advantages created and business as result earn high profits .....
Some advantages are ... creation of markets , more demand of products, consumer satisfaction, follow business ethics easily etc.....
hope it's help u ....☺️