Separation of ownership from control in large corporations has resulted in the professionalization of management. A professional manager is well educated and aware of the society's expectations. He tends to take a long term view of business. In order to ensure the long term welfare of the enterprise, he attempts to meet the aspirations of costumers, employees, shareholders and the Government in a balanced manner.
Thus, the growing emphasis on social responsibilities is the outcome of compelling, persuasive and facilitating forces. Continuous attack on big business, increasing interference by the Government, labour movement, consumers' consciousness and the activities of social reforms have forced business firms to take into consideration the impact of their operations on society. Rise of a class of professional managers, trust ship principle, public relations movement and enlightened attitude have reinforced the tendency towards social responsibilities. In the long run, behaving responsibly towards society is not a choice but a requisite for success in business.
Thus, the growing emphasis on social responsibilities is the outcome of compelling, persuasive and facilitating forces. Continuous attack on big business, increasing interference by the Government, labour movement, consumers' consciousness and the activities of social reforms have forced business firms to take into consideration the impact of their operations on society. Rise of a class of professional managers, trust ship principle, public relations movement and enlightened attitude have reinforced the tendency towards social responsibilities. In the long run, behaving responsibly towards society is not a choice but a requisite for success in business.
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