Social responsibility is the ideological or ethical behavior of an entity towards the society. An entity can be a corporation, government, individual or company. Social responsibility can be either positive or negative. If it is negative then it means that an entity should avoid doing an action. If it is positive then it means that a specific action should be taken. Social responsibility does not come under any law and it is a voluntary responsibility. It implies that you have to be proactive about an action rather than reactive.
Social responsibility is very important for all of the entities mentioned above. For example, for a business to be successful, ethical standards must be maintained. And the ethical standards can be achieved by introducing social responsibility. For example, if a chemical manufacturing firm is disposing off extra wastage in water stream at the back of firm. Then this is not an illegal practice however it shows that the company is not socially responsible. In this way the image of the company can be badly affected.
Social responsibility is very important for all of the entities mentioned above. For example, for a business to be successful, ethical standards must be maintained. And the ethical standards can be achieved by introducing social responsibility. For example, if a chemical manufacturing firm is disposing off extra wastage in water stream at the back of firm. Then this is not an illegal practice however it shows that the company is not socially responsible. In this way the image of the company can be badly affected.