Q. 1
What do you understand by social responsibility of business? How is it different from legal responsibility?
Answer :
Social responsibility refers to the firm obligation toward the society which is not covered under any legal laws. These are the social obligation which voluntarily firm needs to fulfil and they are in desirable in terms of objective and values of our society which benefit the society.
Legal responsibilities are the different compliances which companies need to fulfil to operate the business.
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