Overview of Social Responsibility

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Social Responsibility Social Responsibility Social concern and responsibility refers to a principle of moral theory that states that any entity has a duty to carry out its action in order to profit community as a whole. It is considered as the obligation of every group or stand-alone individual and has to be done in order to continue with the established equilibrium between the ecological and financial systems. This always results in an opportunity cost; there is a trade-off between contributing to the prosperity of the environment and public with economic progress. The concept of social responsibility revolves around the sustenance of the balance amongst not solely business establishments but any and every one whose activities have implications for the status quo. This concern can be both, active; through practicing actions leading to a certain objective or passive; through evasion of socially injurious deeds. The best illustration of this would be the development of horticulture in the form of vertical gardens to avail multiple benefits such as benefitting the ecosystem as well as tightening the grip on food security; both issues impact million around the world every year. Along the same lines, a welfare state refers to the notion of a form of administration in which the functions of providing social and economic welfare to the populace fall upon the shoulders of the state. This theory is grounded in the concept of the parity of opportunity, an evenhanded allocation of
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