SOCIAL REPONSIBILITIES OF THE BUSINESS
There are some schools of thought about the social responsibility. One argues that the business of business is only business and has nothing to do with social problems and responsibilities. Business is established only to earn profit at any cost—ignoring the problems of consumers and other people at large. This school is supported as traditional corporation model.
The businessmen of this group plead that if they undertake social responsibility e.g. cleanliness lb the street or supplying utility services will it not be taking laws into the of sewage, water supply, traffic hazards, pollution, dearness, and inflation are the responsibilities of the government and not of the businessmen.
The second doctrine is on the other extreme suggesting that the corporation is responsible for the welfare of the people. This approach is referred to as metro-corporation model.
This group argues that all social evils and problems emerge from business. To support their stand they contend that pollution, unemployment, traffic hazards, economic depression, jobbery, inflation, dearness, and nepotism arc the result of business activity. According to them, the businessman is very much selfish and is bent on making efforts to earn profit for his business at any cost. He is quite indifferent to all social problems.