Final answer:
It is true that businesses have a social responsibility to provide equal opportunities for all employees. This promotes fair equality and can also drive businesses to compete more effectively due to market pressure and the profit incentive.
Step-by-step explanation:
A major social responsibility for business is providing equal opportunities for all employees. This is True. Businesses have a responsibility to create an inclusive work environment where employees have equal access to opportunities regardless of their race, ethnicity, religion, gender, or any other characteristic. Providing equal opportunities aligns with the principles of fair equality of opportunity, and it has practical benefits for businesses as well. For instance, a discriminatory business that underpays or restricts opportunities for certain groups may find its workers leaving for another employer who offers better pay or more inclusive policies. This market pressure can incentivize businesses to act fairly and ethically.
Moreover, firms with a diverse and inclusive workforce can tap into a wider talent pool, which is important when expanding production or services. There is also a profit incentive to sell to a diverse customer base and to hire from a diverse talent pool, which supports businesses in competing effectively in the marketplace.