Social responsibility

of entrepreneurs
 • Kinds
a) Economic responsibility
b) Legal responsibility
c) Ethical responsibility
d) Discretionary responsibility
 • Arguments for social responsibility
a) Justification for existence and growth
b) Long-term interest of the firm
c) Avoidance of government regulation
d) ) Maintenance of society
e) Availability of resources with business
f) Converting prob lems into opportunities
g) Better environment for doing business
h) Holding business responsible for social problems
 • Arguments against Social Responsibility
a) Violation of profit maximisation objective
b) Burden on consumers
c) Lack of social skills
d) Lack of broad public support
Corporate Social Responsibility
• CSR refers to the role that companies can play in meeting the
agenda of sustainable development and entails a balanced
approach to economic progress, social progress and
environmental protection.