What are the major areas of social responsibility of business ?

Explanation

The major areas of social responsibility of business are as follows:


1. Responsibility towards shareholders or owners: A business enterprise has the responsibility to provide a fair return to the shareholders or owners on their capital investment and to ensure the safety of such investment.


2. Responsibility towards the workers: Management of an enterprise is also responsible for providing
opportunities to the workers for meaningful work.


3. Responsibility towards the consumers : Supply
of right quality and quantity of goods and services to consumers at reasonable prices constitutes the responsibility of an enterprise towards its customers.


4. Responsibility towards the government and community: An enterprise must respect the laws of the country and pay taxes regularly and honestly. It must behave as a good citizen and act according to the well accepted values of the society.