Why should business be responsible to the society? Give any three reasons.
Answers
Answer:
Businesses should be responsible to the society because of the following reasons,
1-Corporate Social Responsibility is duty of every business.
2- This creates goodwill
3- This can help increase market share
Explanation:
1-Corporate Social Responsibility:
This is a business model which states how a business can take actions which make them socially responsible. By being socially responsible to all the stakeholders. This is one of the duties of the business because they are accountable to their stakeholders.
2- Goodwill
This creates goodwill for the business.By being responsible to the society the businesses create good will in the market. People start developing a new liking for the business.
3- market share
This can help increase the market share of the company. The businesses can easily cash this approach of being a business who takes care of its customers liking. Example: We are more environmental friendly.
Answer:
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