Hi, I need help with essay on The socail responsibility of business is to increase its profit. Paper must be at least 1250 words. Please, no plagiarized work!Social responsibility of a business means

Hi, I need help with essay on The socail responsibility of business is to increase its profit. Paper must be at least 1250 words. Please, no plagiarized work!

Social responsibility of a business means the responsibilities which the business must undertake for the betterment of the society. These are the policies and programmes which a business must pursue for the general upliftment of the society. The business must be concerned about the welfare of their customers, employees and the society on the whole.The idea behind assuming social responsibility by the business is to help for the rapid development of the society besides increasing the profits of the business. In the ancient times the businesses were concerned only about increasing the profits. But the modern business has to undertake certain social responsibilities also. The difference between traditional business and modern business is that the former is concerned only about economic and technical objectives while the latter extends it to social responsibilities as well.There are various authors who have supported the idea of assuming social responsibilities by the business. On the other hand some authors feel that the question of assuming social responsibility by the business falls outside the scope of business. Milton Friedmen is of this view.According to Friedmen the political principal capitalism will be affected if the business assumes social responsibility. In a capitalist economy the business firm has the complete freedom of using its available resources in a manner it wants. But if the business firms are compelled to assume social responsibility the political principle of capitalism will be violated.