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BUSINESS
social responsiabilities
| Question | Answer |
|---|---|
| what is social responsibility | A business is a part of society. So, a business enterprise should do business and earn money in ways that fulfill the aspirations of the society. |
| Arguments for Social Responsibility: | 1. Justification for Existence and Growth 2. Long term Interest of the firm 3. Avoidance of government regulations 4. Availability of resources with business 5. Better environment for doing business 6. Contribution to social problems |
| SOCIAL RESPONSIBILITY TOWARDS DIFFERENT INTEREST GROUPS 1. Responsibility towards shareholders: | i) To ensure a fair and regular return on the investment of shareholders. ii) To ensure the safety of their investment iii) To strengthen financial position of the company. iv) To safeguard the assets of the business.. |
| 2. Responsibility Towards workers: | (i) Providing fair wages and benefits, (ii) Providing good and safe Working conditions, (iii) To develop a sense of belongingness. |
| 3. Responsibility toward consumers: | i) To supply right quality of goods & services at reasonable prices. ii) To ensure regular and adequate supply of products. iii) To inform them about new products and new uses of existing products. iv) To handle the customers grievance promptly. |
| 4. Responsibility Towards Government – | (i) To pay taxes honestly (ii) To observe rules laid down by the government, (iii) to avoid corrupting government employees. |
| 5. Responsibility towards community – | (i) To make available opportunities for employment, (ii) To avoid polluting the environment, (iii) To up lift the weaker sections of society |
| ROLE OF in BUSINESS ENVIRONMENTAL PROTECTION: | 1. Eco-friendly and clean or technology should be used by industrial organization. 2. Industrial Wastes should be recycled 3.minimize pollution. 4. The business houses should comply with the laws and regulations meant for prevention of pollution |
| ELEMENTS OF BUSINESS ETHICS | 1. Top management commitment 2. Publication of code 3. Establishment of compliance mechanism 4. Employee involvement 5. Measuring results |
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Angelo1234?
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