Social responsibilities of business

As indicated in the published online article entitled “ Social Responsibilities of Business”, it was explicitly defined that social responsibility encompasses “ any responsibility you have, particularly towards members of the society with whom you interact or towards the society in general” (Social Responsibilities of Business 38). In this regard, one strongly believes that social responsibility is necessary for the success of a business because by taking into consideration the concerns and interests of the society within which the organization operates, various stakeholders would regard the organization as worthy to be patronized. This simply means that although one of the objectives of the organization is the generation of profits, organizations must include other relevant goals that would be beneficial to other stakeholders: the employees, customers, suppliers, investors, government agencies, and to the society, as a whole. These goals could include ensuring that the organization’s operations and production of products or services are consistent with the need to protect the environment and comply with quality standards imposed by government regulatory bodies. Likewise, it could also be indicative of ensuing “ a satisfactory rate of return to investors, provide a good salary, security and proper working condition to its employees, make available quality products at a reasonable price to its consumers, maintain the environment properly” (Social Responsibilities of Business 38). By doing all these, in return, these various stakeholders would patronize the organizations’ product or services and thereby ensure their continued success.