What are your arguments for social responsibility?
Top 9 Arguments in Support of Social Responsibility of Business
- Public Requirements: Business can exist only with public support and only if business fulfills needs of society.
- Favourable For Business:
- Moral Justification:
- Socio-Cultural Norms:
- Business Can Shoulder Responsibility:
- Responsibility Must Correspond With Power:
- Public Image:
- Government Regulations:
What are the arguments against social responsibility?
Arguments against Social Responsibility
- Contrary to Basic Function of Business.
- Conflict with Profit Motive.
- Distortion in Resource Allocation.
- Imposition of Business Values.
- Inefficiency in the System.
- Operational Problems.
What are the arguments for CSR?
The following arguments favour corporate social responsibility:
- Protect the interests of stakeholders: ADVERTISEMENTS:
- Long-run survival: ADVERTISEMENTS:
- Self-enlightenment:
- Avoids government regulation:
- Resources:
- Professionalisation:
What are the two opposing views of social responsibility?
Two contrasting philosophies, or models, define the range of management attitudes toward social responsibility; the economic and the socioeconomic model. According to the traditional concept of business, a firm exists to produce quality goods and services, earn a reasonable profit and provide jobs.
What are the five major areas in which companies have responsibilities to their employees?
Companies have responsibilities to their employees in five major areas: workplace safety, quality-of-life issues, ensuring equal opportunity on the job, avoiding age discrimination, and preventing sexual harassment and sexism in the workplace.
How is social responsibility different from legal responsibility?
It is a much broader concept than legal responsibility, as legal responsibility can be fulfilled by merely complying with the law, whereas social responsibility deals with the overall welfare of society.
Which is the example of economic responsibility?
An example of economic responsibility is when a company modifies its manufacturing processes to include recycled products, which could benefit the company by potentially lowering the cost of materials and also benefit society by consuming fewer resources.
What is the legal responsibility of business?
Legal Responsibility As business is an entity itself, it must also follow laws and rules. Every business has a responsibility to operate within the boundaries set by the various commissions and agencies at every level of the government. A law-abiding enterprise is a socially responsible enterprise as well.