PPT - Social Responsibilities of Business and Business Ethics Commerce Notes | EduRev

Business Studies (BST) Class 11

Commerce : PPT - Social Responsibilities of Business and Business Ethics Commerce Notes | EduRev

 Page 2


What is social responsibility of 
business
Social responsibility of business 
refers to its obligation to take those 
decision and perform those actions  
which are desirable in terms of the 
objectives and values of our society.
Page 3


What is social responsibility of 
business
Social responsibility of business 
refers to its obligation to take those 
decision and perform those actions  
which are desirable in terms of the 
objectives and values of our society.
Need for social responsibility
? Need for social responsibility of business 
arises both because of firm’s interest of 
society. There are arguments both for and 
against social responsibility.
Page 4


What is social responsibility of 
business
Social responsibility of business 
refers to its obligation to take those 
decision and perform those actions  
which are desirable in terms of the 
objectives and values of our society.
Need for social responsibility
? Need for social responsibility of business 
arises both because of firm’s interest of 
society. There are arguments both for and 
against social responsibility.
Arguments of social responsibility
? Justification for existence and growth
? Long-term interest
? Avoidance of government regulation
? Maintenance of orderly society
? Availability if resources
? Converting problems into opportunity
? Better environment for doing business
? Holding the business responsible for social 
problems.
Page 5


What is social responsibility of 
business
Social responsibility of business 
refers to its obligation to take those 
decision and perform those actions  
which are desirable in terms of the 
objectives and values of our society.
Need for social responsibility
? Need for social responsibility of business 
arises both because of firm’s interest of 
society. There are arguments both for and 
against social responsibility.
Arguments of social responsibility
? Justification for existence and growth
? Long-term interest
? Avoidance of government regulation
? Maintenance of orderly society
? Availability if resources
? Converting problems into opportunity
? Better environment for doing business
? Holding the business responsible for social 
problems.
Arguments against social responsibility
? Violation of profit maximization objective
? Burdon on consumers
? Lack of social skills
? Lack of broad public support.
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