Explain the following term/concept. Social responsibility

Question 15 of 34

Q. Explain the following term/concept. Social responsibility

Maharashtra MsbshseMaharashtra HSC (MSBSHSE) Board 2023Subjective· 2mImportance★★★★★

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Social responsibility is the duty of a business to act in ways that benefit society as a whole, not just its owners, while conducting its operations.

Meaning: Business collects its inputs — labour, raw materials, capital and customers — from society. In return, society expects business to behave responsibly and to contribute to the well-being of the community rather than harming it. This duty owed by business towards society is called social responsibility.

Towards whom is a business responsible?

Owners/shareholders — a fair and steady return on investment.
Employees — fair wages, safe working conditions and job security.
Consumers — good-quality products at reasonable prices and honest information.
Government — paying taxes honestly and obeying laws. …

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Same / Similar Concept — real previous-year questions on the same or a closely similar concept, not this exact question.

CBSE 2025Set ANNUAL1 markMCQ
$Q. Businessmen are ______ of the society.$
(a) Representatives
(b) Members
(c) Trustees
›Reveal solutionSolution

Businessmen are trustees of society's wealth and resources.

Business does not operate in isolation; it draws its resources — money, labour, raw materials and infrastructure — from society. The concept of social responsibility, strongly supported by Mahatma Gandhi's idea of trusteeship, holds that the wealth a businessman controls really belongs to society, and the businessman is only a trustee who manages it on society's behalf.

…

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CBSE 2025Set ANNUAL1 mark
$Q. Give one word or phrase or a term which can substitute the following. An activity motivated by profit.$
›Reveal solutionSolution

The term is 'Business'.

Business is an economic activity concerned with the production, purchase, sale or exchange of goods and services with the primary motive of earning profit. The profit motive is what distinguishes business from other human activities such as employment or social …

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CBSE 2020Set ANNUAL1 mark
$Q. Write a word / phrase / term which can substitute the following statement: Duties, obligations of business directed towards welfare of the society.$
›Reveal solutionSolution
The term is 'Social Responsibility of Business' — the obligation of business to act for the welfare of society.

Social Responsibility of Business means the responsibility of business organisations to take decisions and perform activities that protect and improve the welfare of society along with earning profit.

It covers duties towards consumers, employees, owners, government and the community. …
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Q.Explain the following term/concept.
Social responsibility

Concept understanding — Meaning and Concept of Social Responsibility of Business

Q.Explain the following term/concept. Social responsibility

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Q.Explain the following term/concept.
Social responsibility

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