Write an essay on social responsibility of business organisation
Answers
Answer:
Social responsibility can be defined as a set of commitments that the organization should implement in order to strengthen the community in which it operates. Organizations have social responsibility in respect of their units, in relation to the environment and prosperity of society as a whole.Social responsibility in business, also known as corporate social responsibility (CSR), pertains to people and organizations behaving and conducting business ethically and with sensitivity towards social, cultural, economic, and environmental issues.
Answer:
Social responsibility in business is well recognised that in order for a business to succeed, it must offer a product or service that the general public wants and make a profit doing so. Even while these are the elements that make a firm successful, they are not the only ones. Environmental preservation and protection, worker well-being, and consumer product safety are among a company's social duties. These three social obligations must be considered by the financial management while making any and all decisions.
Over the past 30 to 40 years, the environment has grown to be a significant concern, particularly for businesses that may adversely affect it. Due to the unfavorable publicity, the company has suffered and, in many cases, has completely disappeared. In order to avoid negative publicity and contribute to the environment in a financially healthy way, it is the responsibility of the financial manager to oversee these environmental issues and make socially acceptable decisions. Employees are quite likely the most crucial component of every company. In other words, the entire business suffers if something interferes with the employees' ability to execute. A finance manager should also ensure a secure and interesting work environment if they want to produce a good product quickly and effectively. A company can reduce staff accidents and save downtime and expensive lawsuits.
Every company must understand that a dangerous product won't last on the open market and will ultimately cost more to fix. The financial management must be aware that product safety must come first. He or she must choose the most economical way to produce the good and have it approved for use. This aspect of product safety, along with the other two, in my opinion, should be addressed very early in the production process.
#SPJ2