SOCIAL RESPONSIBILITY OF BUSINESS
SOCIAL RESPONSIBILITY OF BUSINESS What is Social Responsibility? Social responsibility is a moral obligation on a company or an individual to take decisions or actions that is in favour and useful to society. Social responsibility in business is commonly known as Corporate Social Responsibility or CSR. For any company, this responsibility indicates that they acknowledge and appreciate the goals of the society, and therefore, would support them to achieve these goals. Advantages of Social Responsibility A company can boost its morale and enhance work culture when they can engage their employees with some social causes. There are many factors that can have a positive impact on the business while delivering social responsibilities. Such few factors are Justification for existence and growth The long-term interest of the firm Avoidance of government regulation Maintenance of society Availability of resources with business Converting problems into opportunities A better environment for do