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What are the arguments against social responsibility?

What are the arguments against social re | Class 11 Business Studies Chapter Social Responsibilities of Business and Business Ethics, Social Responsibilities of Business and Business Ethics NCERT Solutions

Question:

What are the arguments against social responsibility?

Answer:

Critics of social responsibility argue that the primary goal of businesses is to maximize profits for shareholders. They believe that engaging in social causes diverts resources and attention from core business activities. Moreover, the additional expenses incurred in implementing socially responsible practices can increase operational costs, potentially reducing profitability. Businesses might also lack the expertise to effectively address societal issues, leading to inefficient or superficial initiatives. Opponents claim that social responsibility should be the domain of governments and non-profit organizations, not private enterprises.

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Welcome to the NCERT Solutions for Class 11 Business Studies - Chapter . This page offers a step-by-step solution to the specific question from Extra Questions, Question 5: What are the arguments against social responsibility?....

What are the arguments against social re | Class 11 Business Studies Chapter Social Responsibilities of Business and Business Ethics, Social Responsibilities of Business and Business Ethics NCERT Solutions

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