Application of Social Responsibility Across Different Forms of Business

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Application of Social Responsibility Across Different Forms of Business Question: - What forms of business can the concept of social responsibility are applied? Please describe Answer: - Social responsibility means the obligation of business to act in a manner which wills the best interests of the society. Social obligation of a business relates to the voluntary efforts on the part of businessmen to contribute to the social well being. Social responsibility is broader than legal responsibility of business. Legal responsibility may be fulfilled by mere compliance with the law. Social responsibility is more than that. It is firm’ s recognition of social obligations even though not covered by law, along with the obligations laid down by law. 1. Business is a creation of society and it uses society’s resources. So business is — StudyXY
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