What is the need that forces businessmen to follow the concept of social responsibility ?

Solution

The businessmen must consider wider public interest while taking business decisions and actions. Business is an economic institution and it cannot survive without economic performance. But economic results depend upon the goodwill and support of the society. Business can gain this support only when it assumes its social responsibility. Moreover, business is a part of society It is ethical on the part of businessmen to contribute something for the development and betterment of society. It is in the interest of business to perform the concept of social responsibility not by donating money or something but by providing quality products at reasonable prices, at right places, through efficient channels of distribution. Unless the business sets its house in order, changes its outlook and is prepared to play its legitimate role as an organ of society, it has little chance of success.

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Some More Questions From Social Responsibilities of Business and Business Ethics Chapter

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Social Responsibilities Of Business And Business Ethics

What is the need that forces businessmen to follow the concept of social responsibility ?

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