What are the responsibilities of business towards employees and customers?
Social responsibility of business towards its employees: It is important because they are the wheels of an organization. Without their support, the commercial institution simply can't function or operate.
If a business takes care of the needs of its human resource (for e.g. office staff, employees, workers, etc.) wisely, it will boost the motivation and working spirit within an organization. A happy employee usually gives his best to the organization in terms of quality labour and timely output than an unsatisfied one. A pleasant working environment helps in improving the efficiency and productivity of working people. A
good remuneration policy attracts new talented professionals who can further contribute to its growth and expansion.Thus, if personnel are satisfied, then they will work together very hard and aid in increasing the production, sales and profit.
Social responsibility of business towards its consumers or customers: It matters a lot from sales and profit point of view. Its success is directly dependent on their level of satisfaction. Higher their rate of satisfaction, greater is the chances to succeed.
If a business rolls out good-quality products and/or delivers better quality services that too at reasonable prices, then it is natural to attract lots of customers. If the quality- price ratio is maintained well and consumers get worth for their money spends, this will surely satisfy them. In the long run, customer loyalty and retention will grow, and this will ultimately lead to profitability.
Discuss the forces which are responsible for increasing concern of business enterprises towards social responsibility.
What do you mean by the principle derived from social values which guide and govern the conduct of businessmen? Explain the factors governing these principles and values.
"A business owes curtain obligations towards different groups."Identify those groups and explain the obligation of business towards those groups.
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Explain social responsibility of a business towards different interest groups.
What steps can an enterprise take to protect the environment from the dangers of pollution?
"Like an individual, business enterprise should also be a loyal citizen to the state."Discuss.
Which eight problems have been identified by the United Nations which cause damage to natural environment?
How can a business enterprise improve its public image by performing social responsibilities?
What do you understand by social responsibility of business? How is it different from legal responsibility?
Business is essentially, a social institution and not merely a profit making activity.' Explain.
What do you mean by the principles derived from social values which guide and govern the conduct of businessmen?
Business ethics and social responsibility are not synonyms but are closely related. Substantiate.