Skip to main content

What is the responsibility of business towards society? Why is social responsibility at a low pitch in India?

Image
By
Responsibility of business towards society
A society consists of individuals, groups, organizations, families etc. They all are the members of the society. They interact with each other and are also dependent on each other in almost all activities. Thus, it has certain responsibilities towards society, which may be as follows:
  • to help the weaker and backward sections of the society
  • to preserve and promote social and cultural values
  • to generate employment
  • to protect the environment
  • to conserve natural resources and wildlife
  • to promote sports and culture
  • to provide assistance in the field of developmental research on education, medical science, technology etc.

In other words, the responsibility of business towards society are:
  • Protection of environment.
  • Better living conditions like housing, transport, canteen, crèches etc.
  • Promotion of sports and culture.
  • Opportunity for better career prospects
  • Regular supply of goods and services
  • Proper working conditions and welfare amenities
  • Goods and services at reasonable and affordable price.
  • Prompt after sales services.
  • Conservation of natural resources and wildlife.

There has been a very large outcry to demand that social responsibility be enforced by the government against businesses and a call for greater transparency in the process. Historians have credited the lack of response on many elements, one of which being poor government oversight and even poorer handling of demanding accountability. I think that once government and social activists begin to take a legitimate hold in advocating social responsibility, it will also take hold amongst the people. However, it is very difficult to ask citizens to uphold the value of social responsibility and activism when its government fails to do the same.
Labels:

Comments

Post a Comment

Popular posts from this blog

Case Study: A perfect competition

By
In 1997, over $700 billion purchases were charged on credit cards, and this total is increasing at a rate of over 10 per cent a year. At first glance, the credit card market would seem to be a rather concentrated industry. Visa, MasterCard and American Express are the most familiar names, and over 60 per cent of all charges are made using one of these three cards. But on closer examination, the industry seems to exhibit most characteristics of perfect competition. Consider first the size and distribution of buyers and sellers. Although Visa, Mastercard and American Express are the choices of the majority of consumers, these cards do not originate from just three firms. In fact, there are over six thousand enterprises (primarily banks and credit unions) in the US that offer charge cards to over 90 million credit card holders. One person's Visa card may have been issued by his company's credit union in Los Angeles, while a next door neighbour may have acquired hers from a Miami B...
Post a Comment
Read more

Case Study: Bhopal Gas Tragedy - Communication Failures #1

By
On 3 December 1984, a runaway reaction had occurred in a storage tank of methylisocyanate (MIC), which was used to manufacture a pesticide. The valves of the tank had burst, and a cloud of poisonous gas had escaped. The winds carried it to nearby shanty towns and the populous city of Bhopal, where thousands of people either died in their sleep or woke and died while fleeing. Those who survived suffered from burning eyes and lungs. Local medical facilities were not equipped for the disaster, and over the next few weeks thousands more died. Due to production problems, the plant was under a great deal of pressure to cut costs. A number of shortcuts had thus been taken with such items as crew training, staffing patterns and maintenance schedules. The original procedure called for upto two years of training for employees in critical superintendent capacities, but the plant operators had received about a month long training, using classroom materials developed in the US and printed in Eng...
2 comments
Read more

Discuss isoquant curves and isoquant maps.

By
In economics, an isoquant (derived from quantity and the Greek word iso, meaning equal) is a contour line drawn through the set of points at which the same quantity of output is produced while changing the quantities of two or more inputs. While an indifference curve mapping helps to solve the utility-maximizing problem of consumers, the isoquant mapping deals with the cost-minimization problem of producers. Isoquants are typically drawn on capital-labor graphs, showing the technological tradeoff between capital and labor in the production function, and the decreasing marginal returns of both inputs. Adding one input while holding the other constant eventually leads to decreasing marginal output, and this is reflected in the shape of the isoquant. A family of isoquants can be represented by an isoquant map , a graph combining a number of isoquants, each representing a different quantity of output. Isoquants are also called equal product curves. Production Isoquant/Isocost Curve ...
Post a Comment
Read more