Social responsibility requires businesses to act ethically and consider the welfare of society in their operations. Companies should focus on four main areas:

  1. Economic Aspects: Be profitable and provide value to shareholders.
  2. Legal Aspects: Comply with laws and regulations.
  3. Ethical Aspects: Exceed legal requirements to meet societal expectations.
  4. Philanthropic Aspects: Give back through charitable donations of time, money, and goods.

Creating shared value benefits both the company and the community. Social responsibility can save money and benefit society simultaneously.

This information is part of the SASSI LLC training materials. For more details, visit the Guide to becoming an Olderpreneur on the SASSI Hub.