question_answer

What are the obligations of a business in the name of social responsibility?

Answer:

Ans.     The social responsibility of business comprises of the following obligations:

(a) A business must give a proper dividend to its shareholders or investors.

(b) It must provide fair wages and salaries with good working conditions.

(c) It must provide a regular supply of quality goods and services to its consumers/ customers at reasonable prices.

(d) It must abide by all government rules and regulations, support its business related policies and should pay fair taxes without keeping any delays or dues.

(e) It must also contribute for the betterment of a local community by doing generous activities like building schools, colleges, hospitals, etc.

(f) It must take immense care to see that its activities neither directly nor indirectly create havoc on the vitality of its surrounding environment.

(g) It should maintain a stringent policy to curb or control pollution in regard to contamination of air, water, land, sound and radiation leakages. It must hire experienced professional individuals who are experts in their respective fields.

(h) It should also offer social-welfare services to the general public.