Question

Statement with reasons whether the following statements are True or False.

Business organisations do not have various types of social responsibilities.

Answer 1

The statement is False.

Reasons :

1. A business unit is set up with the main aim of earning profits, However, a business unit is dependent on the society for its survival.

2. It uses natural resources or inputs from the society like raw materials, air, water, land etc. for producing goods and services. 

3. It is also dependent on the various constituents of the society like consumers, investors, employees etc for running its business effectively.

4. Business unit is therefore a part of the society. It operates within the society and is dependent on the society for its survival. Thus, has responsibilities towards the various sections of the society