Social Responsibility towards different Interest Groups

Social Responsibility towards different Interest Groups

Social responsibility towards different interest groups:

Social responsibility of business refers to its obligation to take those decisions and perform those actions which are desirable in terms of the objectives and values of our society. Reality is that, despite differing arguments relating to social responsibility, business enterprises are concerned with social responsibility because of the influence of certain external forces.

Business enterprises have responsibility towards

(i) shareholders or owners,

(ii) workers,

(iii) consumers and

(iv) government and community giving fair return on and safety of investment to shareholders, providing opportunities to workers for meaningful work, supplying right quality and quantity of goods and services to consumers and paying to the government, and protecting natural environment are some of the social responsibilities of business.

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