question_answer

Give any four reasons against the social responsibilities of business.

Answer:

Ans.     Arguments against social responsibility

1. Violation of Profit Maximisation: As per this argument, business enterprises claim that our objective is profit maximisation. Business can reduce its cost and raise profits and then only it can meet its social responsibility.

2. Lack of Social Skills: Business enterprises neither have skill nor experience to solve all types of social problems. Therefore, it should be handled by specialized agencies.

3. Burden on Consumers: Many of the social responsibilities cost a lot and its burden falls on consumers only.

4. Lack of Broad Public Support: Business cannot operate successfully because of lack of cooperation and confidence from public to business enterprises.