Social Responsibility of Business - Assignment

Added on - 21 Feb 2021

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Social Responsibility ofBusiness
Table of ContentsINTRODUCTION...........................................................................................................................3PART A...........................................................................................................................................3Seminar 1:..............................................................................................................................3Seminar 2................................................................................................................................4Seminar 3................................................................................................................................5Short Reflection......................................................................................................................7PART B............................................................................................................................................7Recommendations..................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................10
INTRODUCTIONThe seminar has been planned on Social Responsibility of Business. Social responsibilitydefines that, businesses should act in such a manner that provide benefits to the society. Since thebusinesses use the resources of the society so they must do something for the society. Adoptingthe principles of social responsibility like transparency and accountability help the businesses toensure the long term viability and success of their organization. These seminars aim to bringtogether various stakeholders, to mentor, engage and inspire them, to create understanding andawareness and cultivate a critical thinking and to organize discussions and debate on the issue ofSocial Responsibility of Business.PART ASeminar 1:Preparation:-The first seminar includes the issues and importance of Social responsibilities thata businessman faces while conducting the operations of its business.Importance:-Long Term growth of the business:-The main aim businesses is to earn maximumprofits in the long run but it can be possible only if they have the highest goal ofproviding best services to the society(Spence., 2016). As when people notice that theorganization is not doing anything for the society and not socially responsible then theydo not support the particular organization. But if the organization make various attemptsto solve the problems of society and provides better services to the society then it resultsin improving the brand image and revenues of the organization.Avoidance of Government Regulations:-When the government realizes that theparticular business is affecting the environment or is not socially responsible then thegovernment restricts its freedom. The government also impose various laws andregulations on the organization so it becomes difficult for the businessman to conduct itsoperations smoothly and efficiently. However, if the organizations make efforts forgiving the best services to the society the government also offers various subsidiaries tothose organizations(McWilliams., 2015). So it's better for the organizations to makesocial responsibilities program-mes for the success of their businesses and for their ownbenefits.Issues:-
Lack of Social Skills :-Since the main objective of businesses is to earn profits so abusinessman knows the tactics of earning and increasing profits but he does not haveknowledge about how to solve social problems. So if the businessman does not have anyknowledge about organizing a social event the employees also will not be able to presentand organize the events efficiently, And because of improper organizing or presentationof social events the brand image of the company can also be affected.Pressure of Labour Movement:-These days labour play a huge role in production aswell as in other managerial operations of the organization. Nowadays labour are moreknowledgeable and educated and their movements are also more powerful(Vitell., 2015).Therefore, the mangers need to be more responsible while dealing with workers orlabours as now “Hire and fire” policy does not work in the organization.Seminar 2Preparation:-The second seminar describes the benefits that businessman receives whileconducting social responsibilities. It also determines the problems of social responsibilities in anorganization.Importance:-Converting problems into opportunities:-Businesses involve various risks. However, Ifthe organization makes efforts for the society or to solve the social problems then theserisky situations can be converted into profits. Apart from that the initiatives taken bybusinesses towards social responsibility also help the employees to learn and developnew skills like if the organization would conduct any social events in their premises thenthe employees will learn various new things. By dealing with these events the employeeswill become skilled and talented which will ultimately lead to efficiency andeffectiveness in the organization.Better Recruitment:-The social responsibility also lead to better recruitment as when theorganizations conduct various activities related to social responsibilities then it improvesthe brand image of company because of which people wish to work in the organizationand the organization also get chance to attract a higher calibre of staff for conductingtheir business efficiently and smoothly(Wang and et.al., 2016). For example businessessuch as Facebook, Google and Linked in are known for their CSR policies which also
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