Question

What are the arguments FOR and AGAINST Social Responsibility?

Answer 1

Arguments For social responsibility

1) social responsibility fills needs of the public and society.

2) favourable and good for businesses as it makes good reputation of the business firms who do social responsibility.

3) morally it is correct for businesses as well as society to do social responsibility because if any one takes something from others, he must give something to them in return.

4) improves environment

5) Good for long term profits as good public image for the business firm.

Arguments against social responsibility

1) this concept is contrary to profit maximization and cost reduction motives of businesses.

2) operational problem as social responsibility is very wide term , businesses don't properly contribute to improvement of environment.

3) burden of additional costs on businesses which will create distortions in the production

4) lack of accountability in the concept of social responsibility.

5 ) Not much consensus and concrete steps - business involvement in achieving social goals is not widely supported by many groups in society.