Lesson 02
Business Social Responsibility & Business Ethics
2.1 Business Social Responsibility
Social responsibility is to perform business activities in an unbiased way to all the stakeholders.
2.1.1 Different definitions for the concept of business social responsibilities
“Business social responsibility is the continuous commitment by the business to act ethically
and contribute to the economic development while improving the quality of life of the
workforce and their families as well as of the local community and society at large.” - World
business council for sustainable development
“Business social responsibility is about how companies manage the business processes to
produce an overall positive impact on society. - Mallen Baker
“Business social responsibility is to create maximum value for shareholders while performing
justly to all interested parties such as consumers, employees, society, government and
environment” - Narayan Moorthy
2.1.2 Different definitions for social responsibility by various countries
• Business social responsibility is about accepting personal responsibility for the actions
and its impact on society, - USA
• Business social responsibility is about business giving back to the society. - The Philippines
• A great awareness has to be developed at present about the necessity of fulfilling business
social responsibilities.
GRADE 12- BUSINESS SOCIAL RESPONSIBILITY & BUSINESS
1
ETHICS- RASHEEMA BAMBARANDA
, There are some developing forces that will have an impact on the stakeholders and the
society in general. They are,
Business competition
Globalisation
Electronic business
Environmental pollution
There are some main parties to whom the business has to fulfill its social responsibility.
o Customer
o Employees
o Owners
o Society
• According to the following diagram business social responsibilities should be fulfilled to
each party.
Being fair
Minimizing damages
*Equality
*Good employee
relationship Protecting rights *Providing fair earning
Customers
*Job security
Employees
Owners
*Providing
*Health & safety Business economic benefit
Society
Contributing to the *Efficient & just
employment management
Paying taxes
without fail
Waste
management
Community welfare
activities
Green products
GRADE 12- BUSINESS SOCIAL RESPONSIBILITY & BUSINESS
2
ETHICS- RASHEEMA BAMBARANDA
Business Social Responsibility & Business Ethics
2.1 Business Social Responsibility
Social responsibility is to perform business activities in an unbiased way to all the stakeholders.
2.1.1 Different definitions for the concept of business social responsibilities
“Business social responsibility is the continuous commitment by the business to act ethically
and contribute to the economic development while improving the quality of life of the
workforce and their families as well as of the local community and society at large.” - World
business council for sustainable development
“Business social responsibility is about how companies manage the business processes to
produce an overall positive impact on society. - Mallen Baker
“Business social responsibility is to create maximum value for shareholders while performing
justly to all interested parties such as consumers, employees, society, government and
environment” - Narayan Moorthy
2.1.2 Different definitions for social responsibility by various countries
• Business social responsibility is about accepting personal responsibility for the actions
and its impact on society, - USA
• Business social responsibility is about business giving back to the society. - The Philippines
• A great awareness has to be developed at present about the necessity of fulfilling business
social responsibilities.
GRADE 12- BUSINESS SOCIAL RESPONSIBILITY & BUSINESS
1
ETHICS- RASHEEMA BAMBARANDA
, There are some developing forces that will have an impact on the stakeholders and the
society in general. They are,
Business competition
Globalisation
Electronic business
Environmental pollution
There are some main parties to whom the business has to fulfill its social responsibility.
o Customer
o Employees
o Owners
o Society
• According to the following diagram business social responsibilities should be fulfilled to
each party.
Being fair
Minimizing damages
*Equality
*Good employee
relationship Protecting rights *Providing fair earning
Customers
*Job security
Employees
Owners
*Providing
*Health & safety Business economic benefit
Society
Contributing to the *Efficient & just
employment management
Paying taxes
without fail
Waste
management
Community welfare
activities
Green products
GRADE 12- BUSINESS SOCIAL RESPONSIBILITY & BUSINESS
2
ETHICS- RASHEEMA BAMBARANDA
