Social Responsibilities Of Business Essay, Research Paper

Social responsibility is the concept that business is part of the larger society in which it exists and must therefore act in a way that not only advances the firm, but also serves the society. More than ever firms are being challenged to integrate social responsibilities in to their operations. Many firms now believe that social responsibility to be a lot more than granting money to community groups or volunteering their time to organizations – although these are both important ways that firms support the community. Today, business leaders recognize that a commitment to corporate social responsibility can provide distinct advantage in attracting and retaining employees, dealing with suppliers and regulators, strengthening customer relationships and providing positive returns for investors.