Social Responcibility

Social responsibility
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Introduction
Over the years, Business Corporation have held the core goal of financial responsibility of making profits and raising the value of shareholders. Recently the idea of social responsibility have been introduced. In this responsibility, business organizations are expected to show concern for its employee’s welfare, environment and community around then. In this context, the corporations are expected to give back to the society along their focus on making profits. In social responsibilities, business organizations are expected to set and uphold working ethics (Drumwright, 1994). Corporations that consider social responsibility have to place their investment on the market, workplace, and the community. Companies are expected to support social responsibility voluntarily, but laws may be applicable in cases of environmental concerns. Social responsibility is guided by three primary principle that is sustainability, accountability, and transparency. For social responsibility to flourish there are supporting factors like governance, globalization, ethical culture, and sustainable development. Since social responsibility have introduced into a corporation, there are challenges like some people thinking that business organization are solely meant to make profits to the owners and stakeholders. Principles of social responsibility act as a vision when a firm is implementing the requirements for a corporation …