+1 vote
in Social Science by kratos

Explain the social responsibility of business towards.

(a) Shareholders

(b) consumers

1 Answer

+4 votes
by kratos
 
Best answer

Share holders : Fair return on their capital investment to provide information about the working of company, to ensure safety to such investment.

Consumer : Supply right quality and quantity of goods services to reasonable price, precaution against adulterations, provide right information.

Detailed Answer :

Social responsibility of business towards :

(a) Shareholders :

(i) To ensure safety of investment,

(ii) to ensure fair and regular return on investment,

(iii) to give complete information regarding the financial position of business,

(iv) to ensure appreciation of investment by proper utilisation of resources.

(b) Consumers :

(i) production and supply of safe items by maintaining quality standards,

(ii) to follow fair and lawful trade practice,

(iii) to handle consumer complaints and grievances quickly,

(iv) to produce the goods according to consumers' needs and requirements.

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