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Explain what is meant by 'social responsibility'.

Explain what is meant by 'social responsibility'.

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Answer #1

The triple bottom line of business is three Ps - People, Planet, and Profit. It is not enough for a company to focus on just profits, it is our obligation to care for the planet. Social responsibility deals with this aspect of the business. The companies must work towards building sustainable business practices.

Some of the activities in social responsibility involve:

1. Providing jobs to physically challenged people.

2. Assisting the victims of natural calamities such as floods or earthquake.

3. Working towards eradication of poverty.

4. Proving free education to the people who cannot afford tuition fee.

5. Starting projects for the development of rural areas to provide the basic necessities of life such as access to pure drinking water, sanitation, and electricity.

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