Prepare a report of responsibilities of a business towards society that should be discharged by the business units of your locality.
Answers
Responsibilities of a business towards society includes different sections which are as follows-
- Employees
- Owners
- Consumers
- Government
- Environment
- Shareholders
- Community
For business to run properly and effectively business entity needs skilled employees and employees loyalty towards organisation depends on the behavior of the business firm towards their employees. How much organisation is taking care of their employees? this includes- Salary according to the work, Provide bonus to motivate the employee, Proper working environment, Proper infrastructure etc.
For owners also business should perform certain responsibilities like check proper return on capital, profit and loss balance, Position of the business firm etc.
Towards consumers business has to perform certain responsibilities like quality and price, the product should be affordable, product should be easily available etc so that consumers will remain stick with your product for the long term.
With Government all the laws and contracts should be signed and which has to be legal and business has to pay tax regularly when required so that government get no chance to take any action against the business entity.
Business entity need to pay equal attention to the environment also. It is the responsibility of the business firm that it cannot discharge any polluted material which will affect health of the people and if it is using any chemical which is creating pollution then the cure should be discovered so that it cannot harm people.
Shareholders are the partner of the company. So it is the responsibility of the company to pay dividend and return on profit on time and also to tell the correct position of the company.
Business can help community by opening up a business units outside the residential area so that people living in that area would not get affected. They can also help community by providing employment opportunities.
Therefore , it is the responsibility of the business entity to take care of certain things towards the different sections of the society.
A business operates within society, for society and by the consent of society.
After all, the customers belong to society, the following responsibilities have to be assumed by the business:
• Production with customer oriented marketing management techniques
• Customers shall be treated as kings of market
• No harm shall be sustained to natural configuration of Earth
• A recreational activity synchronization to enable restoration of exploited resources
• Feeling to be a part of society itself