What is social responsibility of an individual or Corporate?

The concept of social responsibility has received increasing emphasis in business practice over recent years. It is a phrase commonly invoked, but just what is the definition of social responsibility?At its core, being socially responsible means acknowledging accountability for the impact of one’s choices on the larger world. Businesses, in particular, are expected to make the welfare of society a priority when they make decisions, rather than focus exclusively on profit margins. This pertains not only to how companies spend money, but also to the ways in which they earn it.