MONEY MATTERS

The business produces and sells goods and services that are needed by the people in their daily life. Production and marketing of goods and services with the objective of making profits, is an economic activity. The decision of the business man to produce and sell socially desirable goods and thereby make profits shows his desire to serve the society.
Social responsibility is that while making available the essential goods and services to the society, the business must do everything to protect the interests of the consumers. It must offer good quality products at a reasonable price; it must not resort to certain undesirable practices like adulteration, black- marketing and so on.
Social responsibility is that, in view of its economic strength, the business has to involve itself in certain charitable activities like promotion of public health and education, provision of employment opportunities for the unemployed.
A business that is socially responsible will not think, only about its profits. It performs certain activities that involve expenditure and there is no direct benefit for the business. For example, if the production process of a particular industrial unit pollutes the environment, it has to invest in a pollution control plant that may not be of any direct benefit to the business. But it will certainly help to protect the environment which is a social responsibility of the businessman.

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