Why should a business pursue social objectives?

Business is an integral part of society. It makes use of resources of society. It
earns profit by selling its products or services to members of society. So it
becomes obligatory on the part of the businessman to do something for the
society. The important social objective of business are as follows :
(i) Quality goods and services at Fair Price : The first social objective
of business is to provide better quality product at reasonable rice and in
proper quantity on continuous basis to consumers examples.
Example :- Consumers look for ISI mark on electrical goods, FPO mark
on food products. Hallmark on Jewellery.
(ii) Avoidance of Anti-Social and Unfair trade practices : Anti-Social
practices include hoarding, black marketing and adulteration. Making false
claims in advertisements to mislead and exploit people is an example of
unfair trade practice. Business should not indulge in such practices.
(iii) Generation of Employment : Now a days, employment is the biggest
problem of society. Business should provide employment to more and
more people living in the country. Handicapped and disabled people should
be given extra care.
(iv) Employee Welfare : Employees are a valuable asset and they make
significant contributions towards the success of business. Another social
objective of business, therefore, is to ensure welfare of employees by
providing good working conditions, fair wages and facilities such as
housing, medical and entertainment etc. such welfare facilities help to
improve physical and mental health of employees.
(v) Community service : Business should contribute something to the society
where it is established and operated Library, dispensary, educational
institutions etc. are certain contributions which a business can make and
help in the development of community.
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Ir refers to obligation of business firms to contributr resources fr solving social problems n work in a socially desirable manner...it also helps a firm to earn more costomers if one the firm is socially active...
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