Q Social responsibility isa)Broader than legal responsibilityb)Same as legal responsibilityc)Narrower than legal responsibilityd)None of themCorrect answer is option 'A'. Can you explain this answer?

Question

Answer

Social responsibility of business refers to its obligation to perform those actions which are desirable in terms of the objectives and values of our society and benefit the community. Business cannot exist with the sole purpose of maximizing profits and has to undertake various activities for public good so as to maintain goodwill among people. Social responsibility is broader than legal responsibility of business. Legal responsibility may be fulfilled by mere compliance with the law but social responsibility includes voluntary obligations towards society not covered by law, along with the obligations laid down by law.

Answer

Social Responsibility is broader than legal responsibility because legal responsibility tells only to abide by the laws but social responsibility insist us to have a social concern over the different sectors.

Answer

Social responsibility is broader than legal responsibility.

Explanation:

Legal responsibility refers to the obligations and duties that individuals and organizations are required to fulfill as mandated by the law. These responsibilities are defined by legal frameworks and regulations set by the government. Meeting legal responsibilities ensures compliance with the law and helps maintain order and justice in society.

On the other hand, social responsibility goes beyond legal requirements and focuses on the ethical and moral obligations of individuals and organizations towards society. It involves voluntarily taking actions that benefit society, the environment, and stakeholders, even if they are not legally obligated to do so.

Broader scope:

Social responsibility encompasses a wider range of actions and initiatives compared to legal responsibility. It includes activities such as philanthropy, community engagement, environmental sustainability, fair trade practices, and corporate social responsibility (CSR) programs.

Example:

For example, a company may be legally required to pay its employees the minimum wage and provide a safe working environment. This represents its legal responsibility. However, taking social responsibility further, the company may choose to go beyond the legal requirements by implementing fair labor practices, promoting diversity and inclusion, reducing carbon emissions, or donating a portion of its profits to charitable causes.

Benefits:

Engaging in social responsibility practices can have several benefits. It enhances the company's reputation, improves employee morale and engagement, fosters customer loyalty, attracts socially conscious investors, and contributes to the overall well-being of society.

Conclusion:

In conclusion, social responsibility is broader than legal responsibility as it involves voluntary actions that go beyond legal obligations. While legal responsibility ensures compliance with the law, social responsibility addresses ethical and moral considerations, aiming to make a positive impact on society as a whole.

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