The following arguments will support the involvement of business in social activities: Show 1. Public Requirements:Business can exist only with public support and only if business fulfills needs of society. One of main arguments for social responsibility is that public expectations from business have changed. Therefore if business wishes to remain in existence for a long term it must respond to society’s needs and give society what society wants. The business must come up to expectations of public for its survival since the demand for products or services arises from customers who are a part of society. Since business is a part and parcel of society, it must think of its responsibilities. 2. Favourable For Business:Performance of social obligation by business will not only be in the interest of society but in its own interest also. The firm which is more responsive to improvement of community quality of life will as a result has better community in which it conducts its business. People with healthy environment, good health and education will make them good customers and employees. Recruitment of labour will be of higher quality. Turnover and absenteeism will be reduced. The society may reject an enterprise which does not care for social welfare. Crime rate will also decrease as a result of social improvements. 3. Moral Justification:Nowadays modern industrial society faces many serious social problems as a result of emergence of large companies. Therefore these large corporations have a moral responsibility to solve these problems. Also business which is using so many resources of our economy has responsibility to devote some of these resources in overall development of society. 4. Socio-Cultural Norms:In a country like India where social and cultural values have long and rich heritage, a business promoting social equalities, healthy employer-employee relations and consumer service will enjoy better social position. A business working against traditional values will face criticism from society. 5. Business Can Shoulder Responsibility:Many people who feel frustrated with failure of other institutions in handling social problems are turning to the business for their solution to social problems. In such a situation, it becomes the duty of business to come upto expectation of public and fulfill its responsibilities towards society. 6. Responsibility Must Correspond With Power:Business enjoys social power to a great extent. So they do affect economy, minorities and other social problems. Business should perform equal amount of social responsibility to match their social power. If they don’t then it will reflect their irresponsible behaviour, which will ultimately affect the natural growth. 7. Public Image:Only that firm can enjoy better reputation in public which supports social goals. Each firm seeks an enhanced public image so that it may gain more customers, better employees, more responsive money markets etc. It is possible only if business performs its responsibilities towards society whole-heartedly which will result in raising the value of shares and debentures held by the owners. 8. Government Regulations:If business does not respond positively to the needs of society, then it may be compelled to do so through government laws and regulations. Before government stretches its long arms, the business should discharge its obligations to society. It has to regulate the business in public interest. 9. Indebted to Society:Business units benefit from society. In return it also has certain debts that it owes to society. Business uses vast pool of resources in terms of men, talents, expertise and money. Business is in a position to work for social goals with the help of these resources. Also corporations unlike citizens are created by society so they have certain civic duties and responsibilities.
Ethical and discretionary responsibilities of a business firm are listed in the order of priority. First, a firm has to satisfy its economic responsibilities, followed by fulfilling legal responsibilities in order to survive in the market. Only then, it can think about or focus on purely voluntary actions pertaining to ethical consideration. In this competitive market situation, a business unit has to concentrate on profit making, the primary motive behind any business activity. However; it is easier said than done. You cannot hit the bull's eye at the very first attempt. A firm has to become economically stable first; only then, it integrates social commitments in its agenda. Arguments for Social Responsibility: Public Image: Socially responsible firms gain more customers and employees feel proud to work for such organizations. Handling the Government Regulations with Ease: Government is a massive institution with long arms. It seeks to regulate business in public interest. Before government stretches its long arms, businesspersons should discharge their obligations to society. Business Is Resourceful: With a pool of resources, such as capital, labour and expertise, business is in a better position to tackle social problems and work for social goals.  Prevention is Better than Cure: Social problems have to be handled by the management at some point of time or the other. Problems with labour unions should be handled in a diplomatic way, so that they will not develop into serious social breakdown that consumes most of the management's time. As a Token of Gratitude: Business units benefit from society. Based on the commonly accepted principle, that one owes debts of gratitude towards those who benefits us, the corporations have debts that it owes to society. Arguments against Social Responsibility: Profit Maximization is the Ultimate Goal: Business units are accused of having profit maximization as their goal. Since business operates in a world of poverty and hunger, the economic efficiency of business is a matter of priority and should be the sole mission of business. Society has to Pay the Cost: The costs of social responsibility will be passed on to the society and the question is can the society bear these additional costs? Lack of social skills: Managers are here to solve economic problems and they do not possess knowledge or skills to provide the right solutions for social problems. Business has Enough Power: Business already is wielded with enough social power. The society should not take any steps, which will make it stronger. Social Overhead Costs: Costs on social responsibility is considered a social cost, which will not immediately benefit the business. Why spend money on an object, the benefits of which will be relished only in the future. Lack of Broad Support: The idea of business involvement in achieving social goals is not widely supported by many groups in society. Business and society are interlinked in many ways and the business has to handle the societal aspects with great care or else it may have to face the consequences arising out of such misappropriation or negligence. Source: http://EzineArticles.com/ Image Courtesy: tcctraining.org abeah.com What are the arguments for increased social responsibility?Arguments for Social Responsibility. 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.. Conflict with Profit Motive.. Which of the following is an argument of social responsibility?Arguments Supporting Social Responsibility
Profits should only be made as a return of service to the society by producing goods and services. The long-term-term interest in the firm: A firm is to gain maximum profits in the long run if it has it's the highest goal as service to society.
What is an argument against social responsibility quizlet?Arguments Against Social Responsibility. - purpose of business in US society is to generate profit for owners. - involvement in social programs gives business too much power. - potential for conflicts of interest. - business lacks expertise to manage social programs.
What are the arguments for corporate social responsibility?The following arguments favour corporate social responsibility:. Protect the interests of stakeholders: ADVERTISEMENTS: ... . Long-run survival: ADVERTISEMENTS: ... . Self-enlightenment: ... . Avoids government regulation: ... . Resources: ... . Professionalisation:. |
Which one of the following is an argument for increased social responsibilities?
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