State the factors against social responsibility.
State the factors against social responsibility.
- Violation of profit maximisation objective.
- Business exists only for profit maximisation. Therefore, any talk of social responsibility is against this objective.
- Business can best fulfill its social responsibility if it maximises profits through increased efficiency and reduced costs.
- The burden on consumers.
- Social responsibilities like pollution control and environmental protection are very costly and often require huge financial investments.
- Businessmen simply shift this burden of social responsibility by charging higher prices from the consumers instead of bearing it on themselves.
- Lack of social skills.
- Businessmen do not have the necessary understanding and training to solve social problems.
- Social problems should be solved by other specialised agencies.
- Lack of broad public support.
- Public in general does not like business involvement or interference in social programmes. Therefore, a business cannot operate successfully because of lack of public confidence and cooperation in solving social problems.
- Violation of profit maximisation objective.
- Business exists only for profit maximisation. Therefore, any talk of social responsibility is against this objective.
- Business can best fulfill its social responsibility if it maximises profits through increased efficiency and reduced costs.
- The burden on consumers.
- Social responsibilities like pollution control and environmental protection are very costly and often require huge financial investments.
- Businessmen simply shift this burden of social responsibility by charging higher prices from the consumers instead of bearing it on themselves.
- Lack of social skills.
- Businessmen do not have the necessary understanding and training to solve social problems.
- Social problems should be solved by other specialised agencies.
- Lack of broad public support.
- Public in general does not like business involvement or interference in social programmes. Therefore, a business cannot operate successfully because of lack of public confidence and cooperation in solving social problems.
