Social responsibility of business towards shareholders:
- A fair rate of dividend should be regularly paid by the business enterprises to their owners.
- Management techniques should be effective and efficient so that the net present value of the business is maximized.
- Owners should be given the right to participate in the affairs of the enterprise.
- The tendency towards the growth of ‘Oligarchic management’ should he arrested.
- The owners should be given the full information regarding the working of the company. In other words, accurate and comprehensive reports have to be supplied.
- Financial information has to be disclosed and doubts have to be clarified.
- Chairman and directors of the company should be easily accessible to the owner.
Social responsibility of business towards consumer:
- Ensuring availability of products in the right quantity, at the right place and at the right time.
- Maintaining the quality of the goods, increasing the quality to maximum extent so as to complete with any international product.
- Charging reasonable prices to its products.
- Correct weights and measures have to be used.
- The company must provide after sale service for maintenance of goods.
- The business firms should avoid restrictive trade practices and see that full justice is done to the amount that is spent by a consumer.
- Constant investigation and discovery of growing wants of consumers, giving importance for research and development of new products that satisfy their wants.
- Taking all such measures which promote consumer satisfaction, interest and ***.
