Responsibility to shareholders
- Recognise the investments
- Protect the interests of the shareholders
- Provide a reasonable dividend
- Strengthen and consolidate position of the company.
Responsibility to employees – success of an organisation depends to a large extent on the morale of the employees and their whole hearted cooperation.
- Payment of fair wages
- Provision of best possible working conditions
- Establishment of fair working standards and norms.
- The provision of labour welfare facilities to the extent possible and desirable.
- Arrangement for proper training and education of the workforce.
- Reasonable chances and proper system for accomplishment and promotion.
- Proper recognition, appreciation and encouragement of special skills and capabilities of workers.
- Installation of efficient grievance handling system.
- Opportunity for participation in managerial decisions to the extent desirable.
Responsibility to consumers
- To improve the efficiency of the functioning of the business so as to increase productivity and reduce prices, improve quality, smoothen the distribution system etc.
- To do research and development – to improve quality and introduce better new products.
- To supply goods at reasonable prices.
- To ensure that the product supplied has no adverse effect on the customer.
- To provide sufficient information about the product including adverse effects, risks and care to be taken while using the products.
- To avoid misleading the customers through improper advertisement
- To provide opportunity for being heard and to redress genuine grievances.
- To understand customer needs and to make necessary measures to satisfy those needs.
Responsibility to community
- Taking appropriate steps to prevent environmental pollution and preserve ecological balance.
- Rehabilitating the population displaced by operation of the business.
- Assisting in overall development of the locality.
- Taking steps to conserve scarce resources and developing alternatives.
- Contributing to research and development
- Development of backward areas.
- Promotion of small scale industries
- Promotion of education and population control.
- Contribution to national efforts to build a better society.
November 15, 2020
No Comment! Be the first one.