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Activities and policies of corporate social responsibility are now quite an important
part of organizational priorities. Indian businesses have come to terms with CSR and
its broader implications in the last 14 years since liberalization. 

If we speak about the private sector or the public sector, the social 
responsibility of industry has largely been recognized as part and parcel of it
s economic activities.
In the field of CSR, some of the PSU (Public Sector Undertakings) 
were more involved.
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 Why business should be socially responsible? Explain.

A common question as to why business people should be socially
responsible! Some genuine ones are the following:
 
 Long Term Survival
 Public Expectation
 Goodwill
 Govt. Laws and Regulations
 Better Environment to Operate
 Keep the Balance (Give and Take Relationship)
  Explain the various social responsibility models.

Some models have been established through technically recognizing social respo
nsibility. Some of which are presented as follows to help
us understand every part of social responsibility.

Awareness Stage

Planning and Action Stage

Implementation Stage
 Approaches to Social Responsibility
‘Gene Burton and Manab Thakur’ (Management today) have provided some
social responsibilities strategies which explained a ladder of degree of social
responsibility.
• Social opposition:-When corporations oppose society by feeling or displaying no
responsibility to it, it is called social opposition. If they are caught when doing some
illegal act, they make themselves safer by denying it or any other bribery activities.

 Social obligation:-
The Corporation in this group claims that it is their responsibility to do
business within the legal boundaries as they work in society.

 Social response:-
The companies do nothing more than social duties in this degree. They recognize that 
the simple fulfillment of legal requirements is not enough right now.
So, they go beyond responsible business conduct.

 Social contribution:-
The businesses that contribute to social progress fall into this group. It is the top of th
e socially sensitive moves on the ladder. Through full engagement and
commitment to society, they do their business.
 What are the major areas in which a firm should be socially
responsible?
While the list of social obligations by business entities to be discharged is long one, so
me major responsibilities covering all the basic components are as follows-

 Responsibility to Make Profit

 Responsibility to Generate Employment
 Responsibility of Optimum Utilization of Resources
 Responsibility to Provide Quality Products
 Responsibility to Protect the Environment
 Responsibility to Provide Quality of Life
 Responsibility to Safeguard the Health
 Fair Trade Practices
 Responsibility to Development of Nation
 Responsibility to Fulfill all Duties and National Obligation
 summary
Business ethics is a broad field because there are so many different
topics that fall under its umbrella. It can be studied from a variety of
different angles, whether it's philosophically, scientifically, or
legally. However, the law plays the biggest role in influencing
business ethics by far.

Many businesses leverage business ethics not only to remain clean

from a legal perspective, but also to boost their public image. It
instills and ensures trust between consumers and the businesses that
serve them.