WHAT ARE THE MAJOR DIFFERENCES BETWEEN SOCIAL RESPONSIBILITY AND LEGAL RESPONSIBILITY?
WHAT ARE THE MAJOR DIFFERENCES BETWEEN SOCIAL RESPONSIBILITY AND LEGAL RESPONSIBILITY?
Well in context of Economics,Social responsibility would mean carrying out development activities along with maintaining healthy environment.In general,Socially responsible would mean living ones life in a way so that one returns some welfare to the society and nature as the nature and society has given so much to us.But,in corporate world and in business terms,social responsibility has been defined preserving environment and ecosystem along with carrying out business.
Legal responsibility means doing business carefully so that there is no negligence on part of firms and businessmen.It also involves doing business ethically and abiding the concerns laws all the time.
Now,the major difference in the social and legal responsibility can be found out in the definition,social responsibility is more of concerning outside world and society as whole and social responsibility if not fulfilled can effect the environment, whereas legal responsibility concerns to inside the business activities which if not fulfilled will effect the firm or the company .
Well in context of Economics,Social responsibility would mean carrying out development activities along with maintaining healthy environment.In general,Socially responsible would mean living ones life in a way so that one returns some welfare to the society and nature as the nature and society has given so much to us.But,in corporate world and in business terms,social responsibility has been defined preserving environment and ecosystem along with carrying out business.
Legal responsibility means doing business carefully so that there is no negligence on part of firms and businessmen.It also involves doing business ethically and abiding the concerns laws all the time.
Now,the major difference in the social and legal responsibility can be found out in the definition,social responsibility is more of concerning outside world and society as whole and social responsibility if not fulfilled can effect the environment, whereas legal responsibility concerns to inside the business activities which if not fulfilled will effect the firm or the company .
