3. Responsibility of Management to OWNERS/
SHAREHOLDERS
1. Profit Maximization
2. Manage the resources of the firm efficiently
3. Provide accurate financial records
4. Ensure that operations of the firm are always
within the scope of the law
5. Ensure strategic goals are met in an efficient
and effective manner
6. Make recommendations to the owners
regarding changes in the structure or goals of
the organization that may be necessary to
realise growth.
4. Responsibility of Management to EMPLOYEES
1. Pay fair salaries
2. Ensure safe and healthy working conditions
3. Treat staff fairly and with respect
4. Provide the necessary materials and
equipment so that employees are able to
perform their jobs
5. Provide opportunities for training and career
development
6. Maintain clear and proper channels of
communication
7. Comply with the legal requirements of
employment laws and regulations
5. Responsibility of Management to CUSTOMERS
1.Production of quality goods and services at
reasonable prices
2.Provision of adequate customer information on
goods the firm produces
3.Process customer complaints in a timely
manner
4.Provide good after-sales support
5.Comply with consumer protection laws
6. Responsibility of Management to
GOVERNMENT
1. Pay all Taxes due
2. Make the necessary statutory deductions
from employees’ salaries (such as NIS and
PAYE) and ensure that these deductions
are forwarded to the relevant government
tax authority or department.
3. Comply with Government regulations
regarding the establishment and conduct of
business operations.
4. Contribute to economic growth by adding
to Gross National Product
7. Responsibility of Management to SOCIETY
1. Engaging in fair trading practices
2. Comply with environmental laws and
regulations
3. Developing Corporate Social responsibility by
supporting charities and voluntary groups in
the community
4. During the production process, ensure the
environment in not POLLUTED but
PROTECTED
