What are the major areas of social responsibility of business

Asked by admin @ 04/08/2021 in Business Studies viewed by 351 People

What are the major areas of social responsibility of business?

Answered by admin @ 04/08/2021

Answer:

The major areas of social responsibility of business are as follows :

(1) Towards shareholders or owners :

The shareholders Must get dividend at the prevailing rate of return the capital market. Dividend should be paid every year at regular interval.

(2) Towards customers :

The business should produce only those commodities which are needed by consumers. Every business aims at producing goods at the minimum cost.

(3) Towards workers :

It is a social, morale, humane and the business responsibility of every venture to pay reasonable amount of wages and salary to employees. Worker's job must be safe and secure. Working condition must be healthy and refreshing.

(4) Towards government :

The business must honour the constitution and various provisions of different acts. The business should be well behaved and honest in their dealings

(5) Towards society :

The business has its first responsibility towards the society, where it is situated.The business should make a proper arrangement for the disposal of the smoke ,dust ,waste & scraps.

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