ITFT - Social environment

SOCIAL ENVIRONMENT

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CONTENT• Meaning• Social Responsibility of Business

• Towards Different Groups• Arguments for Social Responsibility • Arguments against Social Responsibility

• Business Ethics• Consumerism

• Consumer Rights in India•Consumer Protection Act

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MEANING

• It includes the culture that the individual was educated or lives in, and the people and institutions with whom they interact.

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SOCIAL RESPONSIBILITY OF BUSINESS• the obligation of business enterprises to adopt

policies and plans of actions that are desirable in terms of the expectation, values and interest of the society.

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SOCIAL RESPONSIBILITIES TOWARDS DIFFERENT GROUPS

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ARGUMENTS FOR SOCIAL RESPONSIBILITY• Respond to the needs and expectations of

Society• Improvement of the Social Environment

• Discourages additional governmental regulation and intervention.

• Great Deal of Power

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ARGUMENTS FOR SOCIAL RESPONSIBILITY

• Internal Activities have an impact on the External Environment

• Protects interests of Stockholders

• Creates a favorable Public Image• Sometimes solve Society’s Problems

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ARGUMENTS AGAINSTSOCIAL RESPONSIBILITY

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BUSINESS ETHICS

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CONSUMERISM

• It is a social as well as economic order which encourages the buying of goods and services in ever-greater amounts.

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•Right to Safety •Right to Information 

•Right to Choose •Right to Represent 

•Right to Redressal •Right to Education

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CONSUMER PROTECTION ACT

It makes provision for the establishment of consumer councils and other authorities for the settlement of consumers' disputes and for matters connected therewith.

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FEATURES• Provide better protection

to consumers

• It applies to the whole of India except Jammu and Kashmir.

• It applies to all goods and services unless otherwise expressly notified by the Central Government.

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FEATURES

• More powerful, broad-based and effective and people- oriented.

• Effective safeguards to the consumers against different types of exploitation

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Questions

• Define social environment.• COPRA?• Business Ethics• CSR• Consumerism

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