COMMON SOCIAL RESPONSIBILITIES TO NOTE BEFORE GOING INTO ANY BUSINESS

By social responsibilities of business, we mean the voluntary roles, which business firms play in the society. These social responsibilities can be discussed under the following headings as classified by the British Institute of Management.

1. Responsibilities to the Government: This is also known as the legal responsibilities and are made up of accepting and complying with all legislations relating to the conduct of business activities in the country, accepting the intervention and role of government in business affairs in the country, etc.

2.       Responsibilities to Customers: Business responsibilities to customer include; production and distribution of high quality goods and services, advertising correct not defective goods and services, advertising, labeling goods clearly and correctly, offering and explaining credit facilities, adopting after sales services, etc.

3.       Responsibilities to the Community: Business firms carry out these responsibilities to the community by providing social amenities such as electricity, pipe borne water, good roads and bridges, etc, provision of recreational facilities, donation of large amounts to community development funds, award of scholarships, sponsoring educative programmes on radio and television, paying adequate compensation to those they acquired their land, maintaining peaceful and cordial relationship with the community where they operate, etc.

4.       Responsibilities to their Employees: These responsibilities include; ensuring job satisfaction, prompt payment of salaries, non-discriminatory recruitment and promotion, adopting a policy of consultation between the management and the employees, ensuring good working conditions, keeping workers informed about the happenings in the business, etc,

5.       Responsibilities to Shareholders: The responsibilities a business firm owes to its shareholders include declaring all its relevant interests, keeping them sufficiently informed especially about the annual general meetings etc.

6.       Environmental Responsibilities: Business firms owe a lot of responsibilities to the environment in which they operates like proper disposal of their waste products, reducing the dangers of air and water pollution, re-use of by- products, etc.

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