Social
Responsibilities of Business
By Dr. Lalit Kumar Setia | @drlalitsetia
| drlalitsetia@gmail.com | December 28, 2017
12:12 a.m. PST
The business gets support
from the society and a successful business should give returns to the society
in various forms. Because business operates in society and it can’t exist and
grows unless it; it becomes must to care for the society. It is required to
meet different needs of the society. For meeting these needs, business has
certain social responsibilities to discharge. “Cooperate Social Responsibility
(CSR)” is defined as considering the impact of the company’s actions on
society. A newer concept, "Social Responsibility”, is defined as the
ability of a cooperation to relate its operation and policies to social
environment in ways that are mutually beneficial to both the company and
society. Social responsibilities of business are different for different
sections of society, which include responsibilities towards
(a) Employees:
It is well known proverb
“charity always begins at home”. A business should ensure the happiness and
satisfaction of its employees. It can be done by providing healthy working
conditions (resistant to fire and earthquake), offering new opportunities for
economic growth, giving free medical services to the family members of
employees, and enhancing the skills of employees.
(b) Consumers:
The business should
understand the needs of its customers and offer free services to the loyal
customers so that strong relationships can be built up. The fake promises and
commitments should not be made, indeed be extra careful by fulfilling their
needs in advance.
(c) Government:
The rules and regulations
meant for the companies should be strictly followed with timely payments of
taxes. The business should also try to earn incomes from abroad so that the
balance of payments of nation can get adequate support. On the basis of its
experience, business should contribute to give necessary advisory services.
Even during the emergencies and natural calamities, the businesses should contribute
in national relief funds, and financial assistance to the victims.
(d) Society
as a whole:
As business depends upon
society for various inputs including men, machine, money, and market; the
business should spend a part of its profits for direct benefits to the society
like establishment of educational institutions, rehabilitation of the
population displaced due to starting new business units, preservation of
natural resources etc.
Responsibilities
towards employee
1.
Fair wages and regular
payment.
2.
Good working conditions and
safety
3.
Reasonable working standards
and norms
4.
Labour welfare services,-
Health, education, recreation and accommodation
5.
Training and promotion
6.
Recognition and respect for
hard work, honesty, sincerity and loyalty
7.
Efficiency of redressing
employees grievances.
Responsibilities
towards customers
1.
Providing goods and services
at a reasonable price
2.
Supply goods and services of
promised quality, durability and services.
3.
Supply social harmless
products.
4.
Offering an efficient consumer
redressal mechanism
5.
Resisting profiteering and
black marketing.
6.
Improving product quality
towards R & D.
Responsibilities
towards government
1.
Regular payment of taxes.
2.
Resisting bribing, bureaucrat
and administers.
3.
Cooperating with go of in up
gradation of environment.
4.
Cooperating with go of in
social values.
Responsibilities
towards society as a whole
1.
Prevention of environmental
pollution.
2.
Preservation of ethical and
moral values.
3.
Making provision of health
education and cultural services.
4.
Minimizing ecological
imbalance.
*Copyright
© 2018 Dr. Lalit Kumar. All rights reserved.
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