Q12
Dear Student,
Major areas of social responsibility of businesses
1. Economic responsibility - The main goal of every organisation is to earn maximum profits for its growth and survival. So, it is responsibility of every business to do production and sell to customers at reasonable prices
2. Legal responsibility - It is the responsibility of every business to follow rules and regulations of the country in which it perform various activities as these laws are for the betterment of society
3. Ethical responsibility - It is the responsibility of business to follow only those business functions that are in the line of social values and that are desirable from the viewpoint of society. This includes respecting the caste and religious sentiments and producing good quality product.
Regards
Major areas of social responsibility of businesses
1. Economic responsibility - The main goal of every organisation is to earn maximum profits for its growth and survival. So, it is responsibility of every business to do production and sell to customers at reasonable prices
2. Legal responsibility - It is the responsibility of every business to follow rules and regulations of the country in which it perform various activities as these laws are for the betterment of society
3. Ethical responsibility - It is the responsibility of business to follow only those business functions that are in the line of social values and that are desirable from the viewpoint of society. This includes respecting the caste and religious sentiments and producing good quality product.
Regards