Social responsibility of business can be classified into four categories as:

1.    Economic Responsibility. No doubt, business is an economic activity. Therefore, the primary responsibility of the business is economic. it should produce goods and services as per needs of the society and sell them at a profit. There is no dispute regarding honoring economic responsibility by the business.

2.    Legal Responsibility. Every business should carry on its business as per the late of the land. The government has enacted various laws and regulations in the interest of the business and society. The businessmen are required to behave as a socially responsible citizen and abide rules and regulations.

3.    Ethical Responsibility. It is the responsibility of the business in the interest of the imposed by society. It is not law. The business may or may not honor ethical responsibility.

4.    Discretionary Responsibility. It is purely voluntary for the business to assume this responsibility. For example. providing donation to charitable and educational institutions or helping flood and earthquake victims are at the discretion of any business.

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