Social Responsibility of Business — OCM STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceOCMSocial Responsibility of Business3 Marks
Question
"Social objective has become inevitable today” - Explain.
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Answer
Social responsibility means considering various classes of society through which business activities are carried out.
Interested all classes of society should be considered. Business activity is carried out considering social welfare and upliftment of society preferable weaker section.
Interested parties related to business unit are shareholders, employees, creditors. customers, competitors, government and society.
It is important for business unit to maintain their interest. In the present days due to awareness and government regulations business units are forced to understand their responsibility towards society.
Under certain laws regarding provided fund, Gumasta dhara, Minimum Wage Act, The Employee state Insurance Act, Consumer Protection Act, Pollution Control Act etc.
have been passed. For the protection of the benefit of employees labour union and consumer union have been established. The concept of social responsibility has emerged.
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