Social responsibility of management is mainly defined as an obligation, and commitment of the managers to take some initial steps for either protecting and improving the society’s welfare along with protecting one’s interest. The company must have its social responsibility due to the following specified reasons:
Social responsibility can be defined as an obligation of management towards society and other concerned areas.
The reason for the social responsibility is that the business enterprises are the creatures of society, and so, they should respond to the demands of the society, and if the managers do not respond/do not react to the changes in the social demands the society would either force them to do it through the help of laws, or either it would not permit the enterprise to survive ahead.
Purpose over which the social responsibility management works on
Social responsibility is about listening and learning about people, and the environment through which it could get applied as being more constructive simply means listening to the complaints that come from both inside, and outside of the organization, and also would immediately act upon all those received complaints.
Each business enterprise is an organ of society so its activities have direct and positive impacts on the social scene, due to this, it is important for the management to effectively consider whether their policies and actions would likely promote the advances of the basic values of the society, public good, and having a relevant strength, and harmony so that it could constitute the stability.
The management should take major efforts to become as socially responsible in everything which they perform, and what they can represent as this would help them to keep the company in high esteem with their customers, and also with it proactively avoid the major causes of the new regulations.
Management – Management can be defined as a process for getting the work done by others with its main objectives of achieving goals, and efficiency.
The management is the catalytic agent of the society so, it should be voluntarily responsible for the development of economic, and the social values to properly safeguard the interests of the customers, and also to fulfill the major aspirations of different sections of the society- males, females, senior citizens, and youths, the rural as well as the urban professionals, and to effectively take the major initiative in launching a program or plan, and a mission to get prepare for the future issues, and challenges. Project management assignment help is great for management learnings.
Social Responsibility of Management
The management has the social obligation that is toward the profit management approach, the social responsibility that is toward the trusteeship approach, and the social responsiveness that is toward the approach of quality of life.
The social responsibility of management
Towards own self:
Following are the major obligations of management towards one’s self:
To take a relevant, and rational decision while keeping in mind the social interest.
Showing professional courtesy.
To effectively contribute in the direction of the development of managerial research, and the desired knowledge.
Always follow the professional code of conduct.
Get a membership in a professional organization.
Responsibility towards the business organization
A manager has the following responsibilities and his/her duty towards the business organization.
To successfully operate the business of the organization.
To expand, grow up the business, and promote innovation in the business.
To effectively try to maintain the profit earning capacity of the firm.
To get build-up, and enhance the goodwill and public image of the business.
Creating demands for the products/service units of the business.
Properly maintaining the competitive major strength of the organization.
Encouraging the research, and development-related activities in the organization.
Responsibility towards Creditors
To effectively make the best productive use of debt money.
Keeping the custody of the mortgaged asset.
Making regular, and timely payments of interest, and the principal amount that is borrowed.
Keeping fair conditions of interest, and the principal amount while taking loans.
Responsibility towards the Owners
Sharing the specified appropriate information with the owners.
Ensuring the regular payment of a return on capital.
To provide complete, accurate, and authentic details about the workings of the company, and all its schemes that are set for future growth.
Giving equal treatment to all the shareholders.
Working as a custodian of capital that is contributed by the owners.
Responsibility toward the Consumers
Ensuring a fair distribution of products.
Get refrain from misleading the major practices of product prompting.
To respect the consumer protection law.
Informing the consumers about the correct usage, and desired features of the product.
To study the needs wants likings, and tastes of the consumers, and give preference to them.
Supply the right quantity, and right quality of goods, and services to the consumers at a reasonable cost.
To make research on the markets, customers, and the goods of the customer utility.
Responsibility towards the other business
Do not oppose, and criticize the competitive business units.
Encouraging the cartels, or the unions for business efficiency, and promoting social interest.
Not using the brands, and trademarks of other businesses on one’s own.
To get refrain from unfair trade practices, and monopoly.
Responsibility towards the government
Operate the business according to the policies of the government.
Using the economic resources in the national interest.
Being cooperative in the operation of the various national policies as well as national programs.
Paying taxes, and other duties honestly, and truly always.
Get refrain from corrupting the government machinery.
Abide by the rules, policies, and regulations that are framed by the government.
Responsibilities toward trade associations, and the professional organizations
To participate, and attend the meetings of the trade association, and the professional organizations, and also suggest the important discussions on any related topics.
Providing monetary contribution for effective implementation of the main programs that are started by them.
To follow the code of conduct that is made for the members.
Give a membership of the chamber of commerce, and some other business associations.
The manager should have the good knowledge of economics (economics assignment help), finance (finance assignment help), communication, management and more.
To sum it Up…
The social responsibility of the management has its major obligation to work for the social betterment as per according to the prevailing law, and the specified economic system. The managers may generally feel that they are following all the social responsibility through obeying the laws and working for their self-interest. My assignment help provides best knowledge to students for all type of management related assignments. The management should be voluntarily responsible for the development of economic and social values to properly safeguard the interests of customers, as well as to fulfill the major aspirations of various sections of society-males, females, senior citizens, and youths, rural and urban professionals, and to effectively take the lead in launching a program or plan,