why should business assume social responsibility PS: DO NOT ADVISE TO REFER TO THE NOTES.
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1 justification for existence and growth
the prosperity and growth of business is possible only through continuous service to society
2 long term interest of the firm
a firm can improve its image and builds goodwill in the long run when its highest goal is to serve society
3 avoidance of government regulations
business can avoid the problem of govt regulations by voluntarily assuming social responsibilities
4 maintainence of society
law alone cant help out people with all the difficulties they face. a socially responsible businesss can contribut something for social peace and harmony
5 availability of resources with business
business has valuable financial and human resources which can be effectively used for solving problems of the society
6 better environment for doing business
SR creates better environment for business operations as it improves quality of life and standard of living of the people
7 contribution to social problems
some of the SR have been created by business firms themselves such as pollution, unsafe work places, discrimination etc. Therefore, it is the moral obligation of business to solve such social problems.
hope it helped it
the prosperity and growth of business is possible only through continuous service to society
2 long term interest of the firm
a firm can improve its image and builds goodwill in the long run when its highest goal is to serve society
3 avoidance of government regulations
business can avoid the problem of govt regulations by voluntarily assuming social responsibilities
4 maintainence of society
law alone cant help out people with all the difficulties they face. a socially responsible businesss can contribut something for social peace and harmony
5 availability of resources with business
business has valuable financial and human resources which can be effectively used for solving problems of the society
6 better environment for doing business
SR creates better environment for business operations as it improves quality of life and standard of living of the people
7 contribution to social problems
some of the SR have been created by business firms themselves such as pollution, unsafe work places, discrimination etc. Therefore, it is the moral obligation of business to solve such social problems.
hope it helped it
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