Thursday, December 18, 2008

Main Responsibility of Business to Society

The main responsibilities of business to society are given in brief as under:

(A) To the shareholders

(i) Fair and judicious use of capital.
(ii) Payment of proper dividends.
(iii) Holding annual meetings with the shareholders.
(B) To the Employees
(i) Fair remuneration.
(ii) Treating workers as human beings.
(iii) Providing healthy work environment.
(iv) Developing the skill of workers through proper education and training.
(v) Provision of retirement benefits.
(vi) Proper motivation of the employees.

(C) To the Suppliers of Inputs
(i) Prompt payment.
(ii) No undue discrimination among suppliers
(iii) No harassment

(D) To the Customers
(i) Provision of goods in adequate quantity.
(ii) Maintaining the standard and quality of goods.
(iii) Charging reasonable prices.
(iv) Attending complaints of the customers promptly.
(v) Bringing new and better products through research.

(E) To the Government
(i) Payment of due taxes.
(ii) Observing the rules enforced by the state from time to time.
(iii) Donations to community development.
(iv) Following the objects and ideals of the state.
(v) Supporting and strengthening the free enterprise system.

(F) To the Neighborhood
(i) Must not pollute its air and water.
(ii) Should not misuse the local infrastructure.
(iii) Maintain friendly relations.
(iv) Contributing liberally to the uplift of the locality particularly in welfare institutions.

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