1. SOCIAL RESPONSIBILITY OF BUSINESS

2. What is social responsibility?
Social responsibility refers to the business man’s decisions and actions taken to reasons atleast partially beyond the firm’s direct economic or technical interest.
By social responsibility, we mean the intelligent and objective concern for the welfare of society that restrains individual and corporate behaviour from ultimately destructive activities, no matter how immediately profitable, and leads in the direction of positive contributions to human betterment.

3. Should business men be socially responsible?
Yes
Should only businessmen be socially responsible? No

4. Why are business men targetted where social responsibility is concerned?
Why not govt or NGOs etc?

5. The interest groups: Shareholders Workers Customers
Creditors,suppliers,others
Government
citizens

6. Is social responsibility profitable?
Yes.
Du Pont
Ford

7. Arguments for social responsibility
Public needs have changed
The creation of a better social environment
benefits both society and business.
Business power should be accompanied by responsibility
Problems can become profits
Favourable public image
Resources of business can be used for public interest

8. Arguments against social responsibility of business
Primary task of business is profit.
Business people lack social skills to deal with social problems
Lack of accountability
Weakened image could result.

9. How to make social responsibility operational?
Commitment from top management
Formulating policies for social responsibility
Institutionalisation of Soc. Resp. in decision making process

10. Values and ethics
Values represent basic convictions that a specific mode of conduct is personally or socially preferable to an opposite mode of conduct .

11. Characteristics :
Values are a part of culture and culture is a complex of values, ideas ,attitudes and other factors which define human behaviour.
Values are learned over a period of time though the initial values formed at early stages of one’s life is the most enduring
Values are gratifying
Values are adaptive.

12. How are values formed/ reinforced?
Value forming institutions
Organisational values
Peers and colleagues
Work and career
Professional codes

13. Ethics and corporate governance

14. The End.