Glossary of Business Terms - Social Responsibility
Responsibility : The Term Social
Responsibility refers to the idea that companies
and corporations should contribute wealth
or resources solely dedicated to the improvement
of society as a whole. The principal of
social responsibility dictates that these
entities should contribute at least a small
amount of resources to the general well
being of humanity. These actions should
not, in any way, be profit-generating.
choose to be socially responsible in order
to generate interest and support for their
services or products. In general, consumers
are more likely to support businesses that
contribute to community organizations such
as art programs, recycling or environmental
initiatives, or scholarships. Many consumers
believe that companies should help support
and build the communities that helped generate
Companies can also display social responsibility
by decreasing their pollution, agreeing
to purchase imported goods from humane factories
abroad, or by increasing efforts to reforest
or promote environmentally sustainable solutions
in ecologically sensitive areas in which
they do business. Any of these are considered
socially responsible, whether a company
actively supports a community or refrains
from doing it any harm.
Typically, the larger the company, them
more socially responsible it should be.
For example, consumers might expect a small
business to recycle its own waste, but would
expect larger corporations to not only recycle
their own waste but also help facilitate
larger recycling programs in the vicinity.
There is no law forcing companies to participate
in social responsibility, but consumers
are more likely to support organizations
that practice ethical treatment of their
workers and support the communities in which
they perform their business.
Part of the belief of social responsibility
is assuming all responsibility for company
actions and inactions. This covers business
practices associated with human rights,
environmental concerns, and ethics.
Also called : Human Responsibility
or Positive Responsibility.
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