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Social Responsibility In Business Essay

736 words - 3 pages

SOCIAL RESPONSIBILITY IN BUSINESS

SOCIAL RESPONSIBILITY IN BUSINESS

Introduction

Corporate social responsibility is a form of self regulation mechanism in a business entity to adhere to the law, standards of ethics, and social norms surrounding the business. Also to be included in the business social responsibility is the environment, suppliers, consumers, employees, communities, stake holders and all other public members.

The four major areas where the business social responsibility is required to be directed include the economic function, the quality of life, the social investment and the problem solving function.

Social responsibility in business helps to create the image of the business to the public and persuade people to familiarize with that business. In return many people like the company due to its responsibility and then tend to buy more of their products thus raising their sales and consequently high profits. Social responsibility also acts as an avenue through which the business gives back to the community. The profits of the business are shared to the society as opposed to other companies which do not practice the social responsibility and only shares to the shareholders.

Social responsibility in business is known to divert the company's resources to other stakeholders who do not give in any contribution to the company's income or shareholders wealth. This is one of the critics the social responsibility proposers face in their push for the practice. However it should be noted that even if no direct benefit accrues to the company from it social responsibility activities, the society should be thanked for providing conducive business environment.

In the company Q's case of social responsibility, it is clear that the business' attitude toward the social responsibility is very poor. This is evidenced by the fact that the management of the business declined to donate one day old food to the area's food bank, but rather preferred throwing it away. In a normal situation, it is expected that such a business would even give food which is meant for sale and...

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