Social responsibility of a business refers to its ________ obligation.

Action values of our society

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Action values for business

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Action values for individual

No worries! We‘ve got your back. Try BYJU‘S free classes today!

All of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A Action values of our society
There is a kind of social contract between the society and business by which the society expects the business to work in its interest. Society creates and accepts business enterprises, hence it expects them to work in a manner which is not detrimental to its well being and interests. Technological advancements have to be made but their impact on the environment and mankind has he kept in mind.

Suggest Corrections

Similar questions

Define social responsibility of a business?

Q12. Consider the following statements about Liquidity Crisis:

1. This refers to a situation where an individual, a business or a government is unable to gather enough cash to meet its payment obligations to lenders.

2. A liquidity crisis is similar to a solvency crisis.

Which of the above statements are correct?

___ refers to a social process whereby people exchange goods and services for money or for something of value to them.

Q. Which of the following is feature of business ethics ?
(1) Business ethics has a universal application.
(2) It is a relative norm. It differs from business to business.
(3) Business ethics is based on well accepted moral and social values.

S e l e c t t h e c o r r e c t a n s w e r f r o m t h e o p t i o n s g i v e n b e l o w -

For the following question, arrange the sentences A, B, C, and D to form a logical sequence.

(A) But what are the values we wax so eloquently about?
(B) A system of values signifies a moral code of conduct.
(C) Values are guiding principles that shape our conduct and behavior.
(D) It is, in effect, a Shastra that delineates our responses.

Join BYJU'S Learning Program