5 points against Social Responsibilities of the Business
Contrary to the above, points against Social Responsibilities of the Business are listed hereunder:
1. Since most of die business enterprises are funded by the public, in order to safeguard the economic interest of the investing public, business enterprises must concentrate only on achieving its economic objectives.
2. The managers in the business enterprises normally have competence only to manage the managerial activities pertaining to their organizations. They may lack social skills to fulfill the social responsibilities.
3. Accepting social responsibilities may lead to diluting economic goals. Under the guise of fulfilling certain social responsibilities, the business enterprises may tend to run the businesses on inefficient lines.
4. Accepting social responsibility would also increase the cost of the business operation, because, the enterprises would be expected to invest in certain activities which may not be directly relevant to their normal business operations.
5. If business enterprises are expected to have social responsibilities since that concept is a vague one, many entrepreneurs who want to start industries and to contribute to the economic system of the country may have their own fear to start business. Because they may think that they may not be able to stand up to the larger expectations of the society.