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Social Responsibility towards Different Interest Groups

It is important to know to whom and for what the business and its management are responsible. A business unit has to decide in which areas it should carry out social goals. Some of the specific responsibilities and enterprise are:
  1. Responsibility towards the 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 and provide the shareholders with regular, accurate and full information about its working as well as schemes of future growth.
  2. Responsibility towards the Workers: Management should try to create a right kind of working conditions so that it can win the cooperation of workers. They must respect the democratic rights of the workers to form unions and the worker must also be ensured of a fair wage and a fair deal from the management.
  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 toward its customers. The enterprise must take proper precaution against adulteration, poor quality, lack of desired service and courtesy to customers, misleading and dishonest advertising, and so on. They must also have the right of information about the product, the company and other matters having a bearing on their purchasing decision.
  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. It must protect the natural environment and should restrict pollution, ugly buildings poor working conditions. It must also develop a proper image in society through continuous interaction with various groups of people.

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