SOCIAL RESPONSIBILITY OF ENTREPRENEURS IN INDIA

H.R. Bower defines as “social responsibility is the obligation to pursue those policies, to make those decisions or to follow those lines of action which are desirable in terms of objectives and values of our society”. Initially, the meaning of social responsibility was very limited, which included conducting business according to general social rules. Social responsibility was considered to be the earning of profits by the business and the entrepreneur in a legal manner, not working against the interests of the shareholders among the customers and the business doing public welfare work. In other words, the main emphasis of the ideology of social responsibility was on the entrepreneur doing welfare work in the society. Also, the social responsibility of the entrepreneur was to produce and distribute goods regularly, follow honesty in transactions and not do illegal work. But with the change of time, under the ideology of social responsibility, instead of 'welfare work', the focus started on fulfilling the rights and interests of various sections related to business. Solutions to the economic and social problems of the society started being sought. Efforts were made by entrepreneurs to remove various difficulties of the society like unemployment, lack of income, pollution, corruption, loot, black marketing, price rise, false advertisements, dishonesty, hoarding etc. But at present, the entrepreneurial form of social responsibility has started to appear. Now, in the field of social responsibility, entrepreneurs have started to emphasize on encouraging and inspiring new experiments, new changes, new constructions and new creations.