Post was not sent - check your email addresses! Hence, the management owes responsibility towards its employees which it can discharge in the following manner: i. To develop their skills through training and education. 2. Learn about the social responsibility of business towards different sections of society:- 1. They should not supply to the consumers’ shoddy and unsafe products which may do harm to them. They involve the business firm as an agent of social policy or social reform. Deducting tax at source (e.g., from salaries) represents a drafting of the firm into service of the Central Board of Revenue. It is needless to say that unfair competition enters with extortion, bribery, kick-backs and granting of discriminatory advertising allowances or brokerage fees and these should be avoided at all costs. Business enterprise was once expected to devote its efforts to producing and distributing goods and services as efficiently as possible and to making innovations and improvements in products and processes with the ultimate objective of maximization of profits. Business organizations have their responsibility towards improvement of the quality of the people of the community. For this purpose, the business should get the survey done by its experts in the field of climate, soil conditions, breeding of livestock facilities for irrigation, water supply and actual supply of fertilizers, seeds, pesticides, expertise, and finances. They should play a constructive role in encouraging the directors to pursue a responsible policy towards the company, its obligations to the community, employees and customers, upon which in the long run, the company’s reputation and future prospects depend. It has been widely recognized that customer satisfaction shall be the key to satisfying the organizational goals. 3. There has been a growing awareness of consumer rights. The following responsibilities are expected to be fulfilled by business units towards consumers: i. Social responsibilities of business and business ethics. Protection of invested capital (e) Fare dividend: 6. To quote him, “The operation of cartels by groups of companies to keep prices high must end. There is no unanimity of opinion as to what constitutes social responsibility of business. Social and Economic Objectives of Business: The purpose of business enterprise is to produce quality goods and distribute them and do it ethically so as to serve the general welfare. To protect the natural environment and avoid bad, effluent, smoky chimneys, dirty working conditions. In fact, business also influences and manipulates the environment. This can be achieved by effective and profitable production. His philosophy and practice was “more and more goods for more and more people at lower and lower prices”. In this task, I will discuss about the responsibilities of an organisation and how they achieve their desired responsibility. 3. Then only can it build its image of a responsible business enterprise and be esteemed. There is hardly anything that is not adulterated. To protect consumer rights and to make the business discharge its responsibilities to them, the consumers should give up their indifferent attitude and build up a strong consumer movement. There are certain matters of social policy which go with being in business. The main responsibility of a business towards its employees is to ensure the safety and well-being of each one of them. Business organizations have their responsibility towards improvement of the quality of the people of the community. Some of these responsibilities relate to the following areas: (a) Responsibility in relation to employment: This must be clearly understood that the employment is meant to be mutually beneficial for the employee as well as for the employer. Finally, industrial peace and new techniques of professional management must be ensured within the precincts of the industry itself. Now, we shall study the business environment. (v) Not to resort to indecent advertisements. To pay government taxes honestly and in time. Mr. N.R. Employees have responsibilities towards their employers, even if they work part time or don’t have a written contract with their employers. She has written for The Balance on U.S. business law and taxes since 2008. (v) To ensure safeguards of Human Rights. To take appropriate measures to reduce level of pollution and adopt eco-friendly technologies. Content Guidelines Consumerism is an organized endeavour of the consumers to protect their rights. 2. Today business has crossed national frontiers and assumed international dimension and, therefore, international feelings should be respected. Business should render its responsibilities towards wholesalers, retailers and franchises. (vi) Contributing to research and development. But adulteration of goods, poor quality, failure to give fair measure, lack of service and courtesy to the customer, misleading and dishonest advertising, are all examples of violation of its obligations by a business enterprise towards the consumers. The management should develop its administration in such a way so as to promote a spirit of cooperative endeavour between employers and employees. Corporate social responsibility towards Employees. When an enterprise adopts the principles of CSR, it fulfills its responsibilities towards environment, employees, communities, stakeholders, consumers, and other members of the society. How many corporations are willing to tell the absolute truth in the advertisements and to engage in open and fair competition avoiding collusion, price fixing and so forth. It will not purchase political support by unfair means; v. It will strive fairly and honestly to stimulate economic growth even by making reasonable sacrifices on occasions of national need; vi. Social responsibility of business implies that corporate managers must promote the interests of all stakeholders not merely of shareholders who happen to be the so called owners of the business enterprises. To recognize worker’s participation in decisions affecting their working life. (iv) To provide after-sales service. The main thrust of social responsibility, no matter what kind, is the public's welfare -- an entity's greater responsibility toward consumers. 3. They should seek their profits in a truly scientific way, and use them for public good. Reasonable political and social stability without frequent changes in legislative, administrative and fiscal policies; iv. Social contract is a set of rules that defines the agreed interrelationship between various elements of a society. Changing Fair Prices: -The products and services should be available to consumers at fair prices. To avoid adulteration, poor quality, misleading and dishonest advertising, hoarding, black marketing, etc. No business should directly or indirectly indulge in profiteering, hoarding or creating artificial scarcity. Standardisation of the products should be ensured by using good quality inputs and technologies. The code should guarantee religious, political and social independence of the workers and make reasonable provisions for them to take part in civic activities which benefit the community. Equally, they are a support to consumers’ associations which, by investigation and reporting on the comparative prices and quality of products, can assist them in making a more informed choice of their purchases. According to Peter Drucker, “there is only one valid definition of business purpose; to create a customer.” Drucker observes – “The customer is the foundation of a business and keeps it in existence. (v) To make goods available according to the taste of the consumers. Cartels are a crime and go against the grain of an open economy”. Besides, rural education could provide individuals with knowledge and skills to enable them to manage their families, to participate in cultural and economic life and to sharpen problem-solving capabilities. Firm must itemize all the activities that have a potential social impact; b. A business has a lot of responsibility to the community around its location and to the society at large. His company was organised to do “as much good as we can for everybody”. Likewise, workers should realise their moral duty to do a good day’s job for a good day’s salary, to cooperate in increasing productivity, to come forward with suggestions and to participate in discharging their responsibility to the life of the plant and the community. Treat your customers as kings and do not think of them only when you have a pressure to meet your targets within the stipulated time frame . Consumer satisfaction is the ultimate aim of all economic activity. In the social contract, one party to the contract gives something and expects a certain thing or behaviour pattern from the other. To abide by the laws of the nation. affected by the business, the stockholders, the employees, the suppliers, the local community and the customers. They should be charged a fair and reasonable price which should be well within their reach. The above views of Dr. Manmohan singh show that corporate businesses in India do not show any sense of social responsibility and due to oligopolies, informal collusion and other malpractices fleece the customers by charging higher prices in order to maximise their profits. Business can make a greater and more direct contribution to public weal. 4 To adopt fair dealings in foreign trade in order to maintain country’s image. The social responsibilities of business include a healthy co-operative business relationship between different businesses. Duties towards consumers (b) Paying fair wages: 3. It may be mentioned here that the shareholders also have certain responsibilities, which they have to discharge to protect their own interests. If the employees are satisfied the enterprise can achieve all round progress. Responsibility Towards Employees: A business organisation can run effectively only when the morale of its employees is high and their needs are fully met. 5. 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