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    Social Responsibility Significance in Business

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    Define and discuss social responsibility, what it means, and its role in business today. 400 words and please include references.

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    Social responsibility means developing a positive relationship with the society. It is an ideological theory which holds that an entity has a responsibility to the society. An entity may be a person, government, organization, activist group, or local community. Overall, social responsibility is an ethical framework according to which an entity has an obligation to benefit the society at large (1). The entity has to strike a balance between the economy and the ecosystem.
    The role of social responsibility in business is very important. According to the ISO or the International Organization for Standardization, The relationship between the business and the society/environment is important in the businesses ability to continue to operate effectively. From the perspective of the business if a business practices corporate social responsibility, it has several advantages. On one level if the ...

    Solution Summary

    The answer to this problem explains the meaning of social responsibility and its significance in business . The references related to the answer are also included.