Businesses also have a responsibility to customers to provide good, safe products and services . ... Companies also engage in corporate philanthropy, which includes contributing cash, donating goods and services, and supporting volunteer efforts of employees. Finally, companies are responsible to investors.
What are the 4 responsibilities businesses have to consumers?
Corporate social responsibility is traditionally broken into four categories: environmental, philanthropic, ethical, and economic responsibility .
What responsibility do businesses have to customers?
Responsibilities to Customers
In general, your responsibility is to operate fairly and consistently while providing customers with a satisfactory experience . This includes openness and transparency in marketing and follow-through on promises made. If your company offers promotions or deals, it must honor them.
What are the responsibilities of business towards employees and consumers?
Responsibility of business towards employees is in the form of training, promotion, proper selection, fair wages, safety, health, worker’s education, comfortable working conditions , participation management etc. The employees should be taken into confidence while taking decisions affecting their interests.
“Social responsibility is the idea that businesses should balance profit-making activities with activities that benefit society . ... Customers no longer want to be sold to — instead, they want to get involved with brands that not only care about their business but also care about the world at large.
What are the customers responsibilities?
- Answering questions about a company’s products or services. ...
- Processing orders and transactions. ...
- Resolving issues and troubleshooting technical problems. ...
- Delivering information about a company’s offerings. ...
- Providing proactive customer outreach.
What is a company responsibility to its stakeholders?
Here’s what we argue: The social responsibility of business is to create value for stakeholders . That means its customers, suppliers, employees, and communities, as well as its shareholders.
Who is responsible for CSR in a company?
CSR may be based within the human resources , business development or public relations departments of an organisation, or may be a separate unit reporting to the CEO or the board of directors.
What does CSR stand for?
Corporate social responsibility (CSR) is a company’s commitment to manage the social, environmental and economic effects of its operations responsibly and in line with public expectations.
Social responsibility means that businesses, in addition to maximizing shareholder value, should act in a manner that benefits society . Socially responsible companies should adopt policies that promote the well-being of society and the environment while lessening negative impacts on them.
What are the responsibilities of business towards government?
Helping government during natural calamities . They should provide complete and correct information to government officials. Giving timely advice to government in framing important policies in field of export-import retail etc. Providing economic and other help to welfare schemes of the government.
What is responsibility in a business?
Business responsibility is someone’s duty (that often depends on the job level) to perform or complete a task . ... In a broader sense, the often called VP’s (vice-presidents) are people within companies responsible for specific business areas such as HR, marketing, sales or engineering.
What are the responsibilities of business towards employees and customers Class 11?
(i) Providing fair compensation and benefits , (ii) Providing good and safe Working conditions, (iii) To develop a sense of belongingness. 3.
- Reducing carbon footprints.
- Improving labor policies.
- Participating in fairtrade.
- Diversity, equity and inclusion.
- Charitable global giving.
- Community and virtual volunteering.
- Corporate policies that benefit the environment.
- Socially and environmentally conscious investments.
How can I make my business responsible?
- Adopt a business code of ethics. ...
- Follow a workplace health and safety program. ...
- Commit to protecting the environment. ...
- Get your suppliers on board. ...
- Be smart about donating money. ...
- Don’t greenwash your business.
In order to show social responsibility, small businesses can become actively involved in community service activities . ... Companies could also offer incentives to employees who participate in a certain amount of community service or even require a set amount of hours to be completed by employees.
