Social responsibility of business

As business operates in society, it can’t exist and grows unless it cares for society. It exist vis-à-vis with society. It is required to meet different needs of the society. For meeting these needs, business has certain social responsibilities to discharge. “Cooperate social responsibilities” is defined as considering the impact of the company’s action on society. A newer concept,” social responsibilities”, is defined as the ability of a cooperation to relate it’s operation and policies to social environment in ways that are mutually beneficial to both the company and society. Social responsibilities of business are different for different sections of society, which include responsibilities towards

  1. employees

  2. consumers

  3. Government

  4. Society as a whole

Responsibilities towards employee

  1. Fair wages and regular payment.

  2. Good working conditions and safety

  3. Reasonable working standards and norms

  4. Labour welfare services,- Health, education, recreation and accommodation

  5. Training and promotion

  6. Recognition and respect for hard work, honesty, sincerity and loyalty

  7. Efficiency of redressing employees grievances.

Responsibilities towards customers

  1. Providing goods and services at a reasonable price

  2. Supply goods and services of promised quality, durability and services.

  3. Supply social harmless products.

  4. Offering an efficient consumer redressal mechanism

  5. Resisting profiteering and black marketing.

  6. Improving product quality towards R & D.

Responsibilities towards government

  1. Regular payment of taxes.

  2. Resisting bribing, bureaucrat and administers.

  3. Cooperating with go of in up gradation of environment.

  4. Cooperating with go of in social values.

Responsibilities towards society as a whole

  1. Prevention of environmental pollution.

  2. Preservation of ethical and moral values.

  3. Making provision of health education and cultural services.

  4. Minimizing ecological imbalance.