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.
Top comments (0)