SOCIAL RESPONSIBILITIES OF BUSINESS.
A business enterprise is not profit oriented alone; it is set up to contribute to the welfares of the people in its environment.
The social responsibilities of the business to the society are classified as follows.
(1) RESPONSIBILITIES TO THE COMMUNITY:
a. Provision of quality goods and service at affordable price.
b. Development programmers: Business provides funds to carry out developmental programmers in the rural or community where they are located.
c. Employment of community members
d. Controlling pollution. A business has responsibilities, to control environment pollution, such as water, land and sound.
e. Provision of social Amenities.
f. Support for sports and games through sponsorship.
g. Award of scholarships to student from the business community.
(2) RESPONSIBILITIES TO THE GOVERNMENT:
a. Payment of taxes
b. Complying with rules and registration governing their operations.
c. Employment of citizens
d. Acceptances of government role in business affairs.
(3) RESPONSIBILITIES TO THE CONSUMERS:
a. Giving truth in advertising
b. Provision of quality products
c. Provision of after-sales services such as transporting or delivery maintain and installation of gadgets
d. Provision of pre-sales services such as grading credit facilities or storage facilities.
e. Educating the customers on the use of the products.
f. Prevention of product defectives so that they will not be sold in the market
g. Attending to customer’s complaint or listen to them.
(4) RESPONSIBILITIES TO THE SHAREHOLDER:
a. Distribution of dividends
b. Ensure business profitability
c. Ensure holding of annual general meeting steadily
d. Preparation of statement of account yearly to show the operation of the business.
(5) RESPONSIBILITIES TO THE EMPLOYEES:
a. Recruitment and promotion
b. Payment of remuneration, such as wages, salaries on time.
c. Provision Conducive working environment.
d. They must ensure job satisfaction
e. Provide welfare package to the works to motivate their
f. Organization training facilities.
6. ENVIRONMENTAL RESPONSIBILITIES
a. Reduction of pollution in the environment
b. Treatment of waste
c. Proper disposal of waste.