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Social Responsibility

Social responsibility is an ethical framework in which an individual is obligated to work and cooperate with other individuals and organizations for the benefit of the community that will inherit the world that the individual leaves behind. In business, it is commonly known as Corporate Social Responsibility or CSR. For any company, this responsibility indicates that they acknowledge and appreciate the goals of the society, and therefore, would support them to achieve these goals.

Advantages of Social Responsibility

Disadvantages of Social Responsibility

Types of Social Responsibilities

Following Are the Different Types of Social Responsibilities:

1. Economic Responsibility

2. Legal Responsibility

3. Ethical Responsibility

4. Discretionary Responsibility

Corporate Social Responsibility

Corporate social responsibility (CSR) is a form of international private business self-regulation which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in or supporting volunteering or ethically oriented practices. Various organizations have used their authority to push it beyond individual or industry-wide initiatives. In contrast, it has been considered a form of corporate self-regulation for some time, over the last decade or so it has moved considerably from voluntary decisions at the level of individual organizations to mandatory schemes at regional, national, and international levels.

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