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SOCIAL RESPONSIBILITY Social Responsiblity is an ethical framework and suggests that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large. Social responsibility is a duty every individual has to perform so as to maintain a balance between the economy and the ecosystems. 4 Types of Social Responsibility Corporate Environmental Responsibility. ... Corporate Human Rights Responsibility. ... Corporate Philanthropic Responsibility. ... Corporate Economic Responsibility. Some of the common Responsibility for example given below: Reducing carbon footprints. Improving labor policies. Participating in fair trade. Charitable giving. Volunteering in the community. Corporate policies that benefit the environment. Socially and environmentally conscious investments. Why is social responsibility important? Being a socially responsible company can bolster a company'