Social responsibility of business

The major responsibilities of business are:

1. Employees

  • Provides better working environment to satisfy the employees
  • It provides salary, bonus, provident funds and job security.
  • It also provides financial and non-financial supports.
  • Enriches employees’ performance.
  • Provide training to develop their skills.
  • listen and handle their complaints and issues

2. Creditors:

  • Make duly payment
  • Satisfaction of creditors with proper relationship
  • Helping them to create their own market.
  • Entrusting the right of proper selling of goods and services of their goods
  • Copyright and other legal rights.

3. Customers/consumers:

  • Better quality of goods and services by charging reasonable price
  • Supply of commodities is also to be done according to needs of customer
  • Helps to achieve needs and wants
  • Provide right goods at right place in right time.
  • Provide proper pre-sale and post sale information
  • Provide proper information about new products

4. Investors:

  • True information about earning power of business
  • The objectives are to provide reasonable rate of return to shareholder.
  • Provide the information about plan of business.
  • Ensure safe investment
  • Promote utilization of resources without leakage
  • Ensure transparency of business activities

5. Government

  • Increase in tax i.e. Increase in government revenue
  • Fulfill demand of government
  • Non violation of rules and regulation of government.
  • Avoid unfair trade
  • Provide essential information to the government.
  • Solve national problems like natural calamities.
  • Avoid malpractice like black marketing, adulteration, smuggling

6. Society

  • Good environment
  • Employment opportunities generation.
  • Socio-cultural understanding
  • Apply anti pollution measures.

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