Business owes certain obligations towards different groups”. Identify these groups and explain the obligations of business towards these groups.
Answers
Answer:
The obligations that business owes towards various social groups are:
1) Shareholders: As owner/ shareholder invests money in business, its responsibility of business to safeguard their interest and pay regular return on their investment,
2) Workers: Business should pay regular and fair wages to worker and provide them safe and healthy working conditions.
3) Consumer: Consumer is considered as king of market. Business should offer good quality products and services at reasonable price to consumer.
4) Supplier: Business should ensure regular payment to suppliers and safeguard them from any sort of exploitation.
5) Government: Business must behave as responsible citizen. Business must take measures to address to social and economic problems responsibly.
Explanation:
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Answer:
need not,must,can refuse, con forget to