Discuss wifh reasons why business organisations must assume social responsibility



1.Moral justification : On moral grounds, it is the responsibility of the enterprise to fulfil the obligations of social responsibility due to the fact that it uses the resources offered by the society.
2. Survival and growth : The business must fulfil the social responsibility obligation in order to sustain a sound position in the society. The fulfilment of such obligations are necessary for the growth and survival of the concern.
3. Resources and skills : There are a huge number of resources which can be utilised in a better way for solving many severe problems of society. The business being a part of the society must utilise the resources for the betterment of the society.
4. Employee satisfaction : Besides good salary packages, the company must provide its employees the facility of accomodation, transportation, etc., which not only results in employee satisfaction but also reduces labour turnover and increases in productivity of the concern.
5. Public image : By fulfilling its social responsibility, the public image of the concern improves. The customers feel attached to the company and demand products offered by the company which enhances profitability. Moreover the employees feel motivated by working with such concerns that fulfill social responsibility and thus it reduces labour turnover.
6. Consumer awareness : In the modem era, where the consumer is treated as the king of all business activities, it is the responsibility of business to provide good quality products at reasonable prices so as to make the consumer attached with the concern. This would automatically result in increasing productivity of the concern.