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The entity concept as applies in business means that the entrepreneur and the business are not one and the same person. However, actions taken by the entrepreneur in his own capacity have a direct impact on how the public perceives the business. In this respect, the entrepreneur should have an interest on how his business is perceived by the people it
purports to serve in society. There are many stake holders in the industry ranging from direct customers, business associates, the government and its organs e.t.c. To all these parties, the business owes a duty of care for each action taken by the owners. Social responsibility is therefore the response given to these parties by the entrepreneur through his business enterprise.
Kavungya answered the question on April 12, 2021 at 15:26
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