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

I. Increase 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.