Management Essays on Social Responsibilities of a Business
Business is an economic activity with the aim of making a profit. However, in some instances, entrepreneurs may engage in certain activities that are related to the business goal of making a profit. Such activities may include providing good housing to their employees and building recreational parks. In some cases, they may offer to sponsor free medical services to the society at a particular time.
The business environment includes the employees, the suppliers, consumer, the general public and the government. The employer has an obligation to run the business effectively and to properly utilise capital and resources so as to make a profit and to keep the business going. The employer also has the responsibility of paying workers regularly and also provides good housing to employees.
Employees are important to the business as they help in achieving the business goal of making a profit. The employees also need to be regularly trained by the company as a way of improving their skills at the workplace. Employees have rights to form a union to champion their rights at working place without being prejudiced by the employer.
The consumer also needs to have goods and services of high quality; the company should ensure that their product is of good quality to the customer and vital information of the product provided to the consumer. Such information may be on the usage or any side effects the product may have in the environment. An example is alcohol drinks where it provides information about the side effect on the bottle to the consumers.
The government is also a key player in the business environment. It is the responsibility of the government to regulate business activities. It has the mandate to discourage businesses that may involve in activities that pollute the environment or illegal businesses. A business may opt to help the government in conserving the environment.
Park, Jongchul, Hanjoon Lee, and Chankon Kim. “Corporate social responsibilities, consumer trust and corporate reputation: South Korean consumers’ perspectives.” Journal of Business Research 67.3 (2014): 295-302.