SOCIAL RESPONSIBILITIES OF BUSINESS AND BUSINESS ETHICS

Jun 30th, 2015
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Western Oregon University
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Social responsibility is an obligation of business to take such action which promote and protect the welfare of the society in which it operates.

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SOCIAL RESPONSIBILITIES OF BUSINESS AND BUSINESS ETHICSCONTENTS:CONCEPT OF SOCIAL OBLIGATION.NEED / CASE FOR SOCIAL OBLIGATION.AREAS / SCOPE OF SOCIAL RESPONSIBILITIES OF BUSINESS.BUSINESS ETHICS NEED AND IMPORTANCE ETHICSCONCEPT OF SOCIAL OBLIGATION: Social responsibility is an obligation of business to take such action which promote and protect the welfare of the society in which it operates. It is a philosophy which indicates duties and responsibilities of a commercial organization towards its employees, share holders, consumers, government and the society.It is the responsibility of a business to produce and supply quality goods at fair prices, provide a fair wages and facilities to its employees, provide fair return on shareholders funds, pay taxes and duties regularly, contribute to social development.The following are some important definition on social responsibility:The international seminar on social responsibilities of business held in 1965 at New Delhi had defined the term as Responsibility to itself, to its consumers, workers, shareholders, and the community, and it is the task of management to reconcile these separate and sometimes conflicting responsibilities. H.R.Bowen defines social responsibility of business refers to the obligation of business to pursue those policies to make those decisions, or to follow those lines of action, which are desirable in terms of objectives and values of our society.NEED / CASE FOR SOCIAL OBLIG

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