Social responsibility of

Business
We can understood the social
responsibility of business with the help
of following points :-

Meaning
Definition
Nature
Dimension
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Social responsibility of
Business
Meaning :- Social responsibility
means obligation of decision
makers to take action which protect
and improve the welfare of society as
a whole along with their own
interests.
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Social responsibility of Business
Definition :-
Social responsibility may be taken to mean
intelligent and objective concern for the welfare
of the society.
K.K. Andrew
Social responsibility of business refers to the
obligation of business to pursue those policies
to make those decision or the follow those lines
of action which are desirable in term of the
objectives and values of the society.
-- Howard r. Bowen..

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Social responsibility of Business
Nature of Social responsibility of Business :-
-
1. The manner in which a business
carries out its own business activities.

2. The welfare activities that it takes
upon its self as an additional function.
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Responsibility of Business towards
different section of society
or
Dimension of Social Responsibility
Responsibility of Business towards
different section of society is as follows :-

1. Responsibility towards Owners or Shareholders
2. Responsibility towards Employees
3. Responsibility towards Consumers
4. Responsibility towards Government
5. Responsibility towards community and society

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Responsibility of Business towards
different section of society

1. Responsibility towards Owner :-
It is primary responsibility of
management . The responsibility is as follows :-

~ A fair reasonable rate of return on capital and fair dividend for their
investment.
~ A share in the profit , in a shape of profit sharing or bonus payment
schemes.
~ Capital appreciation.
~ Safety for investment.
~ Corporate image
~ Knowledge about the working of he enterprise and its periodical
report


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Responsibility of Business towards
different section of society

2. Responsibility towards Employees :- The management should promote
co-operation and co-ordination between employees and employers. The
responsibility of business towards employees as follows :-

= Reasonable and fair salary to the staff member and wages to workers
based on the principal of adequacy, equity, and human dignity.
= Provision of reasonable and good working condition.
= Establishment of fair work standards and norms.
= Provision of labour welfare facilities --- such as medical, accommodation,
canteen facilities etc.
= Offering job security and promotion opportunities.
= Proper recognition, appreciation and encouragement of special skills of the
employees and workers.
= Provision of religious, social and political freedom to workers.




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Responsibility of Business towards
different section of society

3. Responsibility towards Consumers :- The modern marketing
approach is consumer oriented. It aim to satisfying the real need
and wants of consumer.

The following are the important responsibility of business towards
consumers :-

~ The product supplied must meet the need of the consumers of
different classes, tastes and purchasing power.
~ The product must be of appropriate standard, quality, quantities and
in a reasonable prices.
~ Customer service should be available by way of advice, guidance
and maintenance.
~ Avoiding misleading, false and misguiding advertisement.

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Responsibility of Business towards
different section of society
4. Responsibility towards Government :-
The responsibility of business towards
government includes the following :-

~ It should pay its dues and taxes to government
fully and honesty.
~ It should follow honest trade practices and avoid
activities which is not right.
~ It should fully perform his duty and responsibility
for government.


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Responsibility of Business towards
different section of society
5. Responsibility towards community :-
the business has many responsibility towards
society and community at large.
These responsibilities include :-

~ Providing employment opportunity to the society.
~ Taking all efforts to prevent environmental
pollution.
~ Providing relief to victims of natural calamities.
~ Contributing to the overall development of the
locality in which the business is situated.

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Next
1. Argument for social
responsibility of business.
2. Argument against social
responsibility of business.
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