Social Responsibility of the Business: Essay
Added on 2021-02-21
8 Pages2462 Words28 Views
AS1 ESSAY
Table of ContentsINTRODUCTION ..........................................................................................................................1MAIN BODY ..................................................................................................................................1CONCLUSION................................................................................................................................5REFFERENCES..............................................................................................................................6
INTRODUCTION Social Responsibility of the business is termed as actions and decisions taken by thebusiness in order to conduct its business activities in a ethical form, thereby contributing towardseconomic, social and environment develop and thereby creating a positive impact on the societyat a large. As the major motive of all the business organisation is to earn profit but in addition tothis it should conduct its business activities in a sustainable manner (Asif and et.al., 2013). Thisessay will focus on the topic that social responsibility of the business is to earn profits. It willfocus on the various theories in context to the topic and provides justification for the same. MAIN BODY As all the business organisations exist in order to provide goods and services to thecustomer that meet their demands and requirements and therefore to earn maximum profit for thecompany. Therefore Social Responsibility of the business refers to the obligations of the businessorganisations as to take proper actions and decisions which are effective in terms of objectives ofthe company and are valuable to the society. When the business organisations conducts businessin a ethical responsible manner it enhances brand image of the company and therefore targetslarger number of customers towards the offerings of the company. Moreover it will also aid ancompetitive advantage to the firm which will ensure survival of the business for a long timeperiod. Business organisations have social responsibility towards the different groups andsections of the society such as companies have social responsibility towards the shareholders ofthe business by providing them safety on their investment, as well as provides them withadequate information and therefore make a good and a profitable decision to have a good returnon investment (Grayson and Hodges, 2017). Business organisations have social responsibilitytowards consumers so as to provide goods and services at a reasonable price and provide correctand ethical information about the products. When the business enterprise provides adequateinformation and quality products, it enhances goodwill of the company and therefore helps inattracting larger customer base and therefore fulfils the social responsibility of the business I.e toearn higher profitability for the company. In addition to this business organisations have socialresponsibility towards the society as a way of enhancing the standard of living of the individualswithin the society. For example when the company uses the natural resources in a sustainable1
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