Social responsibility of business

Social responsibility of business

The major responsibilities of business are:
A. Employees
I. Provides better working environment to satisfy the employees
II.  It provides salary, bonus, provident funds and job security.
III. It also provides financial and non-financial supports.
IV. Enriches employees’ performance.
V. Provide training to develop their skills.
VI. listen and handle their complaints and issues

B. Creditors:
I. Make duly payment
II. Satisfaction of creditors with proper relationship
III. Helping them to create their own market.
IV. Entrusting the right of proper selling of goods and services of their goods
V. Copyright and other legal rights.

C. Customers/consumers:
I. Better quality of goods and services by charging reasonable price
II. Supply of commodities is also to be done according to needs of customer
III. Helps to achieve needs and wants
IV. Provide right goods at right place in right time.
V. Provide proper pre-sale and post sale information
VI. Provide proper information about new products

D. Investors:
I. True information about earning power of business
II. The objectives are to provide reasonable rate of return to shareholder.
III. Provide the information about plan of business.
IV. Ensure safe investment
V. Promote utilization of resources without leakage
VI. Ensure transparency of business activities

E. Government
IIncrease in tax i.e. Increase in government revenue
II. Fulfill demand of government
III. Non violation of rules and regulation of government.
IV. Avoid unfair trade
V. Provide essential information to the government.
VI. Solve national problems like natural calamities.
VII. Avoid malpractice like black marketing, adulteration, smuggling

F. Society
I. Good environment
II. Employment opportunities generation.
III. Socio-cultural understanding
IV. Apply anti pollution measures.