Social Responsibility of Business: Owners and Investors, Creditors, Employees, Suppliers, Customers, Competitors, Government, Society (For CBSE, ICSE, IAS, NET, NRA 2022)

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Social Responsibility of Business

The various social responsibilities of business are as follows:

  • Business must ensure a satisfactory rate of return to investors, provide good salary, security and proper working condition to its employees, make available quality products at reasonable price to its consumers and maintain environment properly.
  • Profitmaking is not sole function of business.
  • It performs a number of social functions, as it is a part of society.
  • Responsibility towards different interest groups they are as follows.
    • Responsibility towards owners and Investor
    • Responsibility towards Creditors
    • Responsibility towards employees
    • Responsibility towards suppliers
    • Responsibility towards customers
    • Responsibility towards competitors
    • Responsibility towards government
    • Responsibility towards society (community)
Social Responsibility of Business

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