2. SOCIAL RESPONSIBILITY : DEFINITION
Social responsibility means the obligation of
business to serve the best interest of the society.
3.
4. If business is responsive to the needs of
the society, it is able to protect its long
term interest and survive even in hard
times.
5. Public trust in business is very
essential and results in satisfied
customers.
6. Business is the creation of the
society. Hence, it is obliged to be
responsive to its needs.
7. A business which fulfills its social
responsibility enjoys trust and respect
in the society which leads to profit
maximization.
8. Failure of businessmen to assume social
responsibility voluntarily invites
government to intervene and regulate
their activities.
9.
10. RESPONSIBILITY TOWARDS OWNERS/ SHAREHOLDES
To ensure safety of
investment.
To provide fair and
regular return.
To furnish complete
information.
To allow participation
in policy decisions.
To give equal treatment.
11. To provide good
quality product.
To charge fair prices.
To provide courteous
service.
To handle consumer’s
complaints quickly.
To avoid unfair trade
practices.
12. Dealing with the suppliers
should be based on honesty
and impartiality.
To make timely payments of
the goods purchased.
To supply information about
consumer tastes.
To give useful suggestions for
improvement in quality of goods.
To give them the benefit of study
of customer demand and future
market trends.
13. To abide by the laws.
To pay taxes honestly.
To avoid monopolistic and restrictive
trade practices.
To help the government in solving the
national problems.
To refrain from corrupting public
servants.
14. To provide employment opportunities.
To avoid polluting the environment.
To help the weaker sections of the society.
To be a partner in social welfare by
building hospitals, educational
institutions etc.
To promote national integration.
15. To provide stable employment.
To pay fair remuneration.
To provide safe working conditions.
To develop sense of belonging and Dignity of labour.
To provide welfare facilities such as housing,
medical care, etc.
