Explain How To Solve Social Problems

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to solve social problems. Therefore, according to this argument, social problems should be solved by other specialized agencies. iv. Lack of broad public support: Here the argument is that the public in general does not like business involvement or interference in social programmes. Therefore, business cannot operate successfully because of lack of public confidence and cooperation in solving social problems. 1.4.4.Reality of Social Responsibility On the basis of the above arguments for and against social responsibility, one may wonder what the businessmen do in reality. Do they concentrate on profit maximization? Or, do they support social goals? The fact is that one of the most important recent changes in the attitude of business people has been the realization that they have social obligations to fulfill besides ensuring their own existence through…show more content…
The answer is simple and still deep. A business can never succeed if the society, where it works, fails. Thus it is clearly visible that the fate of the organization is in the well -being of the society. More importantly, any customer doesn’t feel like to buy any product or service of the company which seems to violate ethical and social responsibilities. Thus the process of welfare of society is not to be followed by the government alone. Even the organizations with narrow financial budget can also become successful if they work for development of the society as a whole. 1.4.7 Dynamics of Social Responsibility As shown in figure 1, it represents the various stakeholders in which the firm can be divided. There can be two types of stakeholders: Internal and external. Internal stakeholders consist of employees which are directly related to the firm. External stakeholders consist of the individuals or groups to which the actions of the firm affect the most. 1.4.8 Doctrine of CSR

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