Discuss the arguments in favour of social responsibility of business.
Discuss the arguments in favour of social responsibility of business.
Arguments in favour of social responsibilities of business are :
(i) Moral justification : On moral grounds, it is the responsibility of enterprise to fulfil the obligations, of social responsibility due to the fact that it uses the resources offend by the society
(ii) Survival and growth : The business must fulfil the social responsibility obligations in order to sustain a sound position in the society. The fulfilment of such obligations is necessary for the growth and survival of the concern.
(iii) Resources and skills : There are a huge number of resources which can be utilised in a better for solving many severe problems in society. The business being a part of the society must utilise the resources for the betterment of the society.
(iv) Employee satisfaction : Besides good salary packages, the company must provide its employees the facility of accommodation, transportation, and so on, which not only results in employee satisfaction but also reduces labour turnover and increases in productivity of the concern.
(v) Consumer awareness : In the modern era, where the consumer is treated as the king of all business it is the responsibility of business to provide good quality products at reasonable prices so as to make the consumer attached with the concern. This would automatically result in increasing productivity of the concern.
Arguments in favour of social responsibilities of business are :
(i) Moral justification : On moral grounds, it is the responsibility of enterprise to fulfil the obligations, of social responsibility due to the fact that it uses the resources offend by the society
(ii) Survival and growth : The business must fulfil the social responsibility obligations in order to sustain a sound position in the society. The fulfilment of such obligations is necessary for the growth and survival of the concern.
(iii) Resources and skills : There are a huge number of resources which can be utilised in a better for solving many severe problems in society. The business being a part of the society must utilise the resources for the betterment of the society.
(iv) Employee satisfaction : Besides good salary packages, the company must provide its employees the facility of accommodation, transportation, and so on, which not only results in employee satisfaction but also reduces labour turnover and increases in productivity of the concern.
(v) Consumer awareness : In the modern era, where the consumer is treated as the king of all business it is the responsibility of business to provide good quality products at reasonable prices so as to make the consumer attached with the concern. This would automatically result in increasing productivity of the concern.
