Published Oct 22, 2022
2 mins read
406 words
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Economics
Academics and Education
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What Is The Concept Of Social Responsibility?

Published Oct 22, 2022
2 mins read
406 words

Hello friends in my previous blog I gave you a small introduction about social responsibility. Today we will be discussing it in a more detailed manner. So  social responsibility is a Trusteeship concept, this concept means that Businessman must avoid all kinds of unfair practices or all kinds of exploitation to obtain profit or to get benefits to themselves. This concept emphasizes that all Businessman and company owners should use the countries and natures resources for the greatest good of the society. Under this Trustee ship concept consumers and employees also have a roll to play they have a share in ownership and functioning or operation of businesses. The very idea of social responsibility is that all the business owners or the main decision makers are bound to take decisions that favour that development or the improvement of the society rather than serving there interest. In simple words it means that all businesses should keep Public Interest before their profit. Social responsibility requires all business owners and businessman to consider or to introspect weather there actions will affect society in a good or a bad way. One must always think of influencing the society in a positive way rather than a negative way. Businesses should avoid any practices that heard a particular section of society. Businesses should avoid discriminating between rich and poor or on the basis of caste colour Creed or gender. The bigger the business the bigger responsibility it holds and it should understand that it's one action can either create harmony or turmoil in the society. Over the years economist and various other social researchers have seen arise in the causes of growing concern for social responsibilities. The consumer now is very much aware then it used to be 50 years ago. Businesses must understand that today's market is all about consumers and this consumers make society. This makes social responsibility a really intelligent concept as it allows improvement in the society by both private and public companies. Public companies which are run by government 10 to focus on welfare but private companies focus primarily on Profit so this concept makes them think about social responsibility too and they two participate in the growth of the society. I hope you understood social responsibility briefly today in my next blocks I will try to cover more concepts under this main concept. Thank you for reading this. Please like  share and follow with your friends.

Responsibility
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the_little_treasure 10/22/22, 3:08 PM
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