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What is social responsibility?and its objective |
| Answer» Social responsibility is the obligation of businessmen towards the society. Businessmen must review the impact of their decisions and actions on the other sections of the society.According to\xa0Peter F Druker, “Social responsibility requires managers to consider whether their action is likely to promote the public good, to advance the basic beliefs of our society, to contribute to its stability, strength and harmony.”A businessman must perform social responsibilities because of the following reason(i) Self interest(ii) Better environment for business(iii) Public image(iv) Avoidance of government interference(v) Social power(vi) Resources used for moral justification(vii) Contribution to social problems | |