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SOCIAL RESPONSIBILITIES OF BUSINESS new

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					SOCIAL
RESPONSIBILITIES OF
BUSINESS
                Presented By:
              Kumar Gaurav(020)
            Deepak Kr. Mishra(021)
             Anupama Vohra(022)
              Rajneet Kaur(025)
              Richa Babbar(029)
                 Varnika(057)
              Jyoti Sharma(058)
            (MBA 2nd Semester Section A)
What is Social
Responsibility

Social responsibility is the obligation of
  organization’s management to make
  decision and take actions that will
  enhance the welfare and interests of
  society as well as the organization.
Responsibility Towards
Different Interest Groups
•   Owners
•   Investors
•   Employees
•   Suppliers
•   Customers
•   Competitors
•   Government
•   Society
Responsibility
towards owners


• Run the business efficiently.
• Proper utilization of capital and other
  resources.
• Growth and appreciation of capital.
• Regular and fair return on capital
  invested.
Responsibility
towards investors


• Ensuring safety of their investment.
• Regular payment of interest.
• Timely repayment of principal
  amount.
Responsibility
towards employees
• Timely and regular
   payment of wages and salaries.
• Proper working conditions and welfare
  amenities.
• Opportunity for better career
  prospects.
• Better living conditions like housing,
  transport, canteen, crèches etc.
• Job security as well as social security
  like facilities of provident fund etc.
Responsibility
towards suppliers


• Giving regular orders for purchase of
  goods.
• Dealing on fair terms and conditions.
• Availing reasonable credit period.
• Timely payment of dues.
Responsibility
towards customers

• Products and services must be able to
  take care of the needs of the
  customers.
• Products and services must be
  qualitative.
• There must be regularity in supply of
  goods and services.
• Price of the goods and services
  should be reasonable and affordable.
Contd..
• All the advantages and disadvantages
  of the product as well as procedure to
  use the products must be informed
  do the customers.
• There must be proper after-sales
  service.
• Grievances of the consumers, if any,
  must be settled quickly.
• Unfair means like under weighing the
  product, adulteration, etc. must be
  avoided.
Responsibility
towards competitors

• Not to offer exceptionally high sales
  commission to distributors, agents
  etc.
• Not to offer to customers heavy
  discounts and /or free products in
  every sale.
• Not to defame competitors through
  false or ambiguous advertisements.
Responsibility
towards government
• Setting up units as per guidelines of
  government.
• Payment of fees, duties and taxes
  regularly as well as honestly.
• Not to indulge in monopolistic and
  restrictive trade practices.
• Conforming to pollution control norms
  set up by government.
• Not to indulge in corruption through
  bribing and other unlawful activities.
Responsibility
towards society
• To help the weaker and backward
  sections of the society.
• To preserve and promote social and
  cultural values.
• To generate employment.
• To protect the environment.
• To promote sports and culture.
• To provide assistance in the field of
  developmental research on education,
  medical science, technology etc.
Social Values and Business
Ethics

Social values refer to the general
  recognition in society about which
  acts are good and desirable on the
  part of people and which acts are not.

Ethics refers to conduct and activities of
  people based on moral principles.
  Honesty, truthfulness, compassion,
  sympathy, feeling of brotherhood etc.
  are considered ethical.
Environmental Pollution
and Role of Business

Business can be instrumental in fighting
pollution and protecting the
environment. Business can have three
types of role:
 •Preventive Role
 •Curative Role
 •Awareness Role
The Importance of Social
Responsibility
• Best Interest of Business to Promote
  and Improve the Communities
• Improves Public Image of the Firm
• Improving Stock Price
• Solving Social Problems
• Resource given by the organizations
  to solve the social problem
• Government Regulation
• Survival and Growth
Conclusion
• The first responsibility to society is to
  operate at a profit, and only slightly
  less important is the necessity for
  growth.
• Ethics play an importance role in
  social responsibility.
• Social responsibilities would benefit
  the company in the long run, can
  earn more profit, and benefit the
  humans and the environment.
Thank You

				
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posted:5/19/2010
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