Why does business have social resonsibility?

Question

Why does business have social resonsibility?

Answer 1

cos they r the ones who r responsible for the economic growth.

it is the medium to earn food for a no. of peoples working for it.

so it should not only see the aspects as to how to earn more profit.

but it should also take care to be a contributor toward the environment and nature in which he is living, and their offspring have to live.

Answer 2

they have a moral responsibility,

which means that they have to look after the environment, they have a social responsibly to but i don't think that should move above the realms of morality, they could get sued for sacking a women or a minority race that could be dreadful at there job, which i think is unfair, you can only sack a useless employee if hes a white male

Answer 3

You could make the argument that they really shouldnt have to. After all, although businesses are made up of individuals, the primary responsibility of any publicly traded company is to provide strong returns on investment.

However this argument can start to fall apart when you consider that many businesses have essentially positioned themselves as equal to the person, with similar rights (for instance in areas of intellectual property and the rights to property and the like). Once a business enters into this type of action, it certainly could be spun that such a business has social responsibility. It fits into the general assumption that persons have rights because they enter into a social contract which in part holds them to responsibilities. The more that a business or businesses seek a similar status as persons, the more they should be compelled to take on social responsibility.