Importance of Social Responsibility
Social responsibility is defined, as the obligation of decision makers to pursue actions which protect and improve the welfare of society as a whole, rather than only their oval interests. It is vital to a business because it shows to both consumers and the media that the company takes an interest in wider social issues that have no direct impact on profit margins.
There is some importance’s of social responsibility that is given below:-
(a) Firstly: The substance of social responsibility arises from the concern for the consequences of acts. As they might affect the interests of other’s, it effects on the whole social system without social responsibility personal and institutional acts tend to be divorced.
(b) Secondly: Social responsibility broadens person’s view of the atonal social system.
(c) Thirdly: Social responsibility counted upon antisocial behavior whenever their values conflict with those of society. It helps to build social value.
(d) Fourthly: the idea of social responsibility recognizes that each person is attached to an extended social system on which he or she is a partly dependent business. Apply social responsibility when they consider needs & interests of others.
(e) Lastly: By thinking social responsibility business gives us cultural framework and policy guidance.
A business can grow with or without social responsibility, but doing good for others allows a business to reap rewards in many ways.