what are the various social responsibilities of business?
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['Responsibility to Shareholders: ... ', 'Responsibility to Employees: ... ', 'Responsibility to Consumers: ... ', 'Obligation towards the Environment: ... ', 'Responsibility to Society in General:']
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CSR is more narrowly about a company's SOCIAL obligations…that is, a company's obligations to society in general. So, business ethics is concerned with not just social obligations, but also obligations to employees, customers, suppliers and competitors.
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CSR therefore covers a broad spectrum of issues that must be taken into account in business conduct. This includes working conditions, human rights, the environment, preventing corruption, corporate governance, gender equality, occupational integration, consumer interests and taxes.
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social responsibility. the way of a company's managers and employees view their duty or obligation to make decisions that protect, enhance, and promote the welfare and well-being of stakeholders and society as a whole.
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Corporate Social Responsibility: a business philosophy which stresses the need for firms to behave as good corporate citizens, not merely obeying the law but conducting their production and marketing activities in a manner which avoids causing environmental pollution or exhausting finite world resources.
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Corporate social responsibility is a business's concern for the welfare of society. ... This concern is displayed by managers who take into consideration the long-term interests of the company and the company's relationship with the society it which it operates.
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The four components of social responsibility are ethical, legal, economic and philanthropic.
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The concept of Corporate Social Responsibility (CSR) is generally understood to mean that corporations have a degree of responsibility not only for the economic consequences of their activities, but also for the social and environmental implications.
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With CSR, organizations take responsibility for the impact of their activities on customers, employees, shareholders, communities, and the environment in all aspects of operations. ... Proponents of CSR have used four arguments to make their case: moral obligation, sustainability, license to operate, and reputation.
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Social responsibility means that individuals and companies have a duty to act in the best interests of their environment and society as a whole. Social responsibility, as it applies to business, is known as corporate social responsibility (CSR).
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The concept of social responsibility as used in management science is that businesses should maximise their profits subject to their working in a socially responsible manner to promote the interests of the society. Their business activities should not harm other groups such as consumers, workers, and public at large.
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Corporate social responsibility as a specific theory affirms that corporations are entities with economic, legal, ethical, and philanthropic obligations. Corporations responsible for a triple bottom line seek sustainability in the economic, social, and environmental realms.
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Understanding Social Responsibility Social responsibility means that individuals and companies have a duty to act in the best interests of their environment and society as a whole. ... As such, embracing social responsibility can benefit the prime directive - maximization of shareholder value.
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['Business is a part of society. ... ', 'Long-term Self-interest of Business. ... ', 'Moral Justification. ... ', 'Creating Better Public Image. ... ', 'Avoidance of Government Regulations. ... ', 'Maintenance of Society. ... ', 'Contrary to Basic Function of Business.']
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Social responsibility means that individuals and companies have a duty to act in the best interests of their environment and society as a whole. ... The crux of this theory is to enact policies that promote an ethical balance between the dual mandates of striving for profitability and benefiting society as a whole.
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Corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable—to itself, its stakeholders, and the public.
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social responsibility. define business social responsibility. the obligation to make business decisions that consider an impact on society.