Social Responsibility Of Business And Business Ethics

Step 1: Understand the concept of social responsibility in management.
Social responsibility of management refers to the obligation of managers to make decisions that benefit the society at large. This involves being aware of the impact of business decisions on consumers, employees, and the community.
Step 2: Evaluate the options.
- The "Buyer beware" and "Seller beware" concepts both play a role in ensuring that businesses and consumers are mindful of their responsibilities in the market. - Both of these rules emphasize the importance of ethical practices and the protection of consumers and sellers.
Step 3: Conclude.
The correct answer is that both "Buyer beware" and "Seller beware" are relevant to the nature of social responsibility in management.
Final Answer: