Briefly discuss the alternative ways in which business may respond to the social demands that are being made on it

There are a number of ways in which business may respond to the social demands that are being made on it. One approach is/ 1.Withdrawal, by which business recedes further into its own shell, reducing its interface with society and trying to mind its own business. It passes its social costs on to society and generally leaves the problems for society. It generally reflects some type of alienation from the system and tends to reduce the withdrawing party’s influence in the system. / 2. Public Relations Approach: This is a standby procedure which has been used generously in crises in the past. Business offers the public through the press and public speeches a multitude of stories about its accomplishments in social areas./ 3.Legal Approach: Business depends on the law to protect it from change, because it knows that laws are amended very slowly in a large social system./ 4. Bargaining: Bargaining which business negotiates with pressure groups which make claims upon it. In this manned it attempts to resolve disputes with negotiated settlements which often produce some change./ 4.Problem Solving:In this approach business make a genuine study of society’s and business values and needs, and then it attempts to reconcile them in constructive ways.