Definition of Social responsibility:
The obligation of an organizations management towards the welfare and interests of the society in which it operates.
Social responsibility means that businesses, in addition to maximizing shareholder value, must act in a manner that benefits society. Social responsibility has become increasingly important to investors and consumers who seek investments that are not just profitable but also contribute to the welfare of society and the environment. However, critics argue that the basic nature of business does not consider society as a stakeholder.
Social responsibility means that individuals and companies have a duty to act in the best interests of their environment and society as a whole. Social responsibility, as it applies to business, is known as corporate social responsibility (CSR).
How to use Social responsibility in a sentence?
- Kyle is a young man with a strong sense of social responsibility and he frowns on anyone who litters or damages public property.
- The Social Responsibility of Exxon is to ensure an environmentally stable business model in which all aspects of their business do more good than harm.
- Socially responsible companies should adopt policies that promote the well-being of society and the environment while lessening negative impacts on them.
- Companies can act responsibly in many ways, such as promoting volunteering, making changes that benefit the environment, and engaging in charitable giving.
- Social responsibility means that businesses, in addition to maximizing shareholder value, should act in a manner that benefits society.
- Critics assert that being socially responsible is the opposite of why businesses exist.
- It was our social responsibility as good citizens to report the crime we just saw happen to the nearest authority.
Meaning of Social responsibility & Social responsibility Definition