What is the social responsibility of a business Mcq?

What is the social responsibility of a business Mcq? Solution: 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. Social responsibility is broader than legal responsibility of business.

Why is it important for a business to be socially responsible? Being a socially responsible company can bolster a company’s image and build its brand. Social responsibility programs can boost employee morale in the workplace and lead to greater productivity, which has an impact on how profitable the company can be.

Which of the following is the social responsibility of a business? Social responsibility means that businesses, in addition to maximizing shareholder value, should act in a manner that benefits society. Socially responsible companies should adopt policies that promote the well-being of society and the environment while lessening negative impacts on them.

Why should a business assume social responsibility Class 11? The assumption of social responsibilities by business enterprises implies that they respect the aspirations of society and would try their best to contribute to the achievement of these aspirations along with their profit interests.

What is the social responsibility of a business Mcq? – Additional Questions

What is social responsibility and examples?

Working for the community, such as volunteering, giving blood donations, and working at a food bank or animal shelter. Supporting issues that affect society, such as advocating political or social issues that can help others—for example, advocating for child labor laws, purchasing fair trade products, recycling.

What is social responsibility of business class 11 in simple words?

CONCEPT OF SOCIAL, RESPONSIBILITY: A business is a part of society. So, a business enterprise should do business and earn money in ways that fulfill the aspirations of the society. Thus social responsibility relates to the voluntary efforts on the part of the businessmen to contribute to the social well being.

What is social responsibility Class 11 BST?

Social responsibility is the obligation of businessmen towards the society. Businessmen must review the impact of their decisions and actions on the other sections of the society.

What are the major areas of social responsibility of business class 11?

2. What are the major areas of social responsibility of business? Social responsibilities are often divided into three categories. They are environmental, charitable and moral responsibilities.

What are the needs of social responsibility?

According to Peter F Druker, “Social responsibility requires managers to consider whether their actions are likely to promote the public good, to advance the basic belief of society, to contribute to its stability strength and harmony.” Social responsibility refers to the voluntary efforts on the part of the business

What is the main area of social responsibility?

There are four key aspects of social responsibility: ethical, legal, economic and philanthropic. Businesses that have CSR policies first ensure they are accountable to themselves, their shareholders and their employees.

What is the most important responsibility of business?

Shareholders or Owners

The first and most important responsibility of a business should be towards the shareholders or the owners who have invested money. They are eligible for a fair return on the money they have invested.

What are the 4 types of social responsibility?

Corporate social responsibility is traditionally broken into four categories: environmental, philanthropic, ethical, and economic responsibility.

What are 4 main benefits of social responsibility?

better brand recognition. positive business reputation. increased sales and customer loyalty. operational costs savings.

What are 5 benefits of corporate social responsibility?

Advantages of CSR:
  • It builds public trust. 88% of consumers said they were more likely to spend money for a company that supports and engages in activities to improve society.
  • It enhances positive relationships.
  • Sustainability.
  • It increases profits.
  • Encourage professional and personal growth.

What is social responsibility essay?

How to Determine the Tone of an Essay. Social responsibility is a modern philosophy that states that all individuals and organizations are obligated to help the community at large. This is typically an active effort involving acting against a social issue or prevention of committing harmful acts to the environment.

Why is responsibility important?

Each step we take towards being responsible and productive helps to raise our self-esteem and our relationships with friends, family and co-workers improve ten-fold. Being responsible pays big dividends – we have much less stress and chaos in our lives and we gain the respect of others.

What is the social responsibility of an individual?

Individual Social Responsibility (ISR) is a moral belief where we as individuals, have a responsibility toward society. Being “socially responsible” is about all individuals behaving ethically and sensitively towards social, economic, and environmental issues.