Social Management and Responsibility

The terms Social management and responsibility refer to a group or organization’s participation in environmental, ethical, and social issues outside of the organization itself.
Social responsibility is having a sense of duty to society and everything that is a part of it. In other words, ‚Äúsocial responsibility” means managers are accountable to society at large, not just their shareholders. Social responsibility is an important aspect of capitalism at large.
In other words, social responsibility is defined as the obligation and commitment of managers to take steps for protecting and improving society’s welfare along with protecting their own interest.