SOCIETAL ENVIRONMENT AND THE SOCIAL RESPONSIBILITY OF BUSINESS

   SOCIETAL ENVIRONMENT AND THE SOCIAL RESPONSIBILITY OF BUSINESS 

INTRODUCTION:

            This is on societal and social responsibility of Business. Corporate social responsibility and its relevance in today's world are explained. CSR is helping the society and as well as business in the long run. Consumerism is also well explained,its component and legal aspect are also elaborated through example.

•  Societal environment
• social responsibility
• Corporate social responsibility
• Consumerism
• Consumer protection Act,1986

Societal environment 

It include more general forces those who do not directly touch the short run activities of the organization but that can and often do influence its long run decisions. It includes the culture that the individual was educated or lives in, and the people and institutions with whom they interact. The interaction may be in person or through communication media, even anonymous or one-way, and may not imply equality of social status. Therefore the social environment is a broader concept than that of social class or social circle.

Social responsibility 

Social responsibility related to the voluntary efforts on the part of business to contribute to the social well being.   

Corporate social responsibility 

Corporate social responsibility is self regulating business mode that helps a company be socially accountable to itself its stakeholders and public. The fundamentals of CSR rest on the fact that not only public policy but even corporates should be responsible enough to address social issues. Thus companies should deal with the challenges and issues looked after to a certain extent by the states. Among other countries India has one of the most richest traditions of CSR. Much has been done in recent years to make Indian Entrepreneurs aware of social responsibility as an important segment of their business activity but CSR in India has yet to receive widespread recognition. 

consumerism 

It is are economic activity concerned with use of good and services to satisfy individual and collectives wants. The term "consumerism" has' also been used to refer to something quie aerent Called the consumerists movement, consumer protection or consumer activism, which seeks to protect and inform consumers by requiring such practices as honesSt packaging and advertising, product guarantees, and improved safety standards. In this sense it isa movement or a set of policies aimed at regulating the products, services, methods, and standards of manufacturers, sellers, and advertisers in the interests of the buyer.

Consumer protection Act,1986 

An Act to provide for better protection of the interests of consumers and for that purpose to make provision for the establishment of consumer councils and other authorities for the settlement of consumers' disputes and for matters connected therewith. 

There are consumer protection Act is 3 Redressed agencies are below

1.District forum

One president and 2 member

Complaint: less than 20 lakhs

Unsatisfied : appeal in state by depositing 250000

50% of complaint (which is less within 30 days)

 2.State commission

- One president and 2 member

Complaint: less than 20 lakhs to 1 cr 

Unsatisfied : appeal in national by depositing 350000

50% of complaint (which is less within 30 days)

3.National commission

  One president and 4 member

  Complaint: more than 1 cr 

  Unsatisfied : cam appeal in supreme court ( within 30 days)