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Social responsibility only means more cost

By: Phoebe Tiangson Social responsibility is also linked to the idea of social and environmental sustainability that is how a business should act to ensure that their business contributes to a future where the environment is protected and people’s basic human rights are protected, both in the short and long term. Business’ role as creators of wealth for society can contribute, but the wealth must be achieved in a sustainable way.

The three broad areas of social responsibility have the following rules in attaining the benefits and goals of ones business firm to be more productive and progressive. The environment has the responsibility not to pollute the operation workplace. It has the responsibility to make products which do not damage the environment throughout their life cycle and it is responsible for the improvement of the sustainability of all the operations. The Employees on the other hand, ensures that child labor is not used in the business operation. It guarantees the right of association for all employees and the freedom to form trade and unions without interference. Guarantees the right to collective bargaining. It provides training grounds for the employees and ensures the health and safety of employees. And lastly, the neighbors and consumers monitors for ensuring that all operations have a positive impact upon the local community. Actively seek the views of those affected by business operations and ensures that products are not detrimental to the interests of consumers.
The public expects businesses to behave ethically and contribute to economic development, while improving the quality of life of the workforce, their families and society. Till the late 19th century, the mission of business firms was exclusively economic. Today, partly due to interdependencies of many groups in society, the social involvement of businesses has increased.
Businesses have to increasingly associate with governments, environment groups, universities, NGOs, and even religious organizations or bodies. This means they have to operate in a pluralistic society, where organized groups represent individual interests. Each group has an impact on the other, but no one entity exerts inordinate power; each has an impact over businesses.
Working in such an environment has several implications for business. One, various groups keep business power in check. Second, business interests can be collectively expressed by joining groups such as a chamber of commerce. Third, businesses participate in projects to better society. Fourth, individual groups agree and disagree with one another. Finally, in such a society, one group is aware of what the others are doing.
An organization receives inputs from society and environment in the form of labor and raw material. Business, in turn, provides goods and services to society. Thus, a business exists because of society. This realization is very important for firms. It is in their interest to take care of society. This realization has led to an increasing focus on social responsibility. Businesses cannot operate in a vacuum; they operate in the real world.
Ethics, accountability and balanced governance reflect a firm's intentions for society. Besides profits, money, and share prices — the key words of any business — if its top management is concerned about society, such a firm ought to prosper. Gone are the days when industry is driven by supply of raw material and cheap labor. We are witnessing a period where inputs are becoming scarcer. In fact, if we do not stop exploiting the environment, doom's day is not far away. If organizations are socially conscious, they will enjoy enhanced visibility, loyal employees, customers, suppliers, lenders and investors.
Therefore, I could say that the role of social responsibility has been gaining momentum for a decade now and that it contributes a vital rule in the business industry because with its presence the realization that the participation of the private sector can foster the public-private partnership in terms of sharing resources, bringing up in expertise and appropriate technologies and in that way this can enhance visibility of campaigns, and bringing about civil society response.