"certain factors have forced and convinced the business enterprises to consider their social responsibilities." Enumerate and discuss the factors in brief
Dear Student,
Factors that have forced the business enterprises to consider their social responsibility are:
1.THREAT OF PUBLIC REGULATION: Democratically elected governments are expected to act as welfare states whereby they have to take care of all the sections of the society. Thus, when business enterprises operate in a socially irresponsible manner, action is to be taken to regulate them in order to safegaurd the people's interests.
2. PRESSURE OF LABOUR MOVEMENT: The labour has now become far more educated and organised and labour movement for extracting gains for the working class is now gaining importance. This has forced the business enterprises to pay due eegard to the welfare of the labour and to not exploit them.
3. IMPACT OF CONSUMER CONSCIOUSNESS: Increase in awareness, education and development of mass media has made the consumers more aware about their rights and powers. Moreover, the competition in the market has increased. Consumer is now the king. As a result, the business enterprises now follow customer oriented policies.
Regards
Factors that have forced the business enterprises to consider their social responsibility are:
1.THREAT OF PUBLIC REGULATION: Democratically elected governments are expected to act as welfare states whereby they have to take care of all the sections of the society. Thus, when business enterprises operate in a socially irresponsible manner, action is to be taken to regulate them in order to safegaurd the people's interests.
2. PRESSURE OF LABOUR MOVEMENT: The labour has now become far more educated and organised and labour movement for extracting gains for the working class is now gaining importance. This has forced the business enterprises to pay due eegard to the welfare of the labour and to not exploit them.
3. IMPACT OF CONSUMER CONSCIOUSNESS: Increase in awareness, education and development of mass media has made the consumers more aware about their rights and powers. Moreover, the competition in the market has increased. Consumer is now the king. As a result, the business enterprises now follow customer oriented policies.
Regards