Explain the social responsibality of business towards difference intrest group
Answers
Social Responsibility is the obligation of a businessman towards the society.
It means businessmen or business enterprise must take up decisions in favor of the society.
Social Responsibility of business towards different interest groups is :
⇒Responsibility towards consumers:
(a) Following fare trade practices.
(b)Providing good quality products.
⇒Responsibility towards employees :
(a) Providing fare compensation.
(b) Offering Eqality among all.
⇒Responsibility towards shareholders:
(a) To repay the fare investment.
(b) To ensure safety of their investment.
⇒Responsibility towards government :
(a) To pay taxes on time.
(b) To obey all the rules and regulations.
⇒Responsibility towards community :
(a) To help the weaker sections of the society.
(b) To increase employment opportunities.
⇒Responsibility towards suppliers :
(a) To adopt fair dealing practices.
(b) To provide regular payments to them.