Mention and explain five ways in which a business discharges its social responsibilities to society.
Explanation
(a) Social responsibilities of a business to the society are:
(I) Employment of community members.
(ii) Provision of schools, roads, hospitals.
(iii) Provision of scholarships to students.
(iv) Provision of safe and quality goods and services.
(v)The business will employ community members.
(vi)To minimize environmental pollution.
(b) To the employees, a business ensures:
(i) Provision of a safe place of work (working environment).
(ii) Payments of remunerations to the employee.
(iii) Provision of training facilities.
(iv) Provision of safe tools to the employees.
(v) Provision of welfare packages for the employees.
(c) To the Government, a business contributes to:
(i) Education.
(ii) Payment of taxes.
(iii) Apprenticeship scheme for the unemployed.
(iv) Complying with the regulation of the government.
(d) To the consumers, it ensures:
(i) Truth in advertising.
(ii) Prevention of product defects (product safe).
(iii) Prevention of unfair Acing.
(iv) Provision of pre-sale and after-sales services.
(v) Provision of quality goods.
(vi) Attending to the customers’