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Owning My Own - Assignment Example

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Owning my own Name Institution Social responsibility in business gets referred to as corporate social responsibility. It is the process of making a company more responsible in business. Social responsibility in business aims at making a company compliant with set ethical and international standards, as well as the law…
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Download file to see previous pages Social responsibility in business also ensures that the company has a positive impact on its customers, stockholders, community, employees and the environment. Social responsibility helps guide a business on its mission and what it stands for and will uphold for its consumers, employees, stockholders and the community (Werther and Chandler, 2010). Discussed below are ways and procedures put in place to ensure that incorporation of self responsibility in business will satisfy consumers, employees and stockholders. Consumers are a vital part of business since they purchase the company’s products. To ensure social responsibility on consumers, the company has to strive and produce high quality and standard goods. In ensuring the quality of products, a company addresses ethical and quality standards expected in business (Werther and Chandler, 2010). A company has to produce high quality products which meet the satisfaction of the consumer. The products should not be harmful to consumer health. The company should also meet set standards expected of the product. It should offer the product at fair prices to their consumers. In order to meet consumer social responsibility, a company should have a quality control department that checks on the product and service quality. By having a quality control department, the company addresses and ensures consumer satisfaction by producing quality products and services to its customers. Employees provide the company with the workforce or labor needed for creation of products and services in the business. In pursuit of the business missions and goals, social responsibility incorporates employees. A company should be able to ensure that its employee’s needs become met. Social responsibility in ensures that matters such as employee remuneration, bonuses, hiring and training or education get addressed (Werther and Chandler, 2010). A company should ensure that its employees get paid in time and according to labor laws. The company should be able to meet the required labor laws. The company should also enhance employee training and education. Employees should get to attend workshops and seminars to gain more knowledge in order to produce quality products and services. Hiring of employees should be conducted as par the companies required rules and regulation and only qualified candidates should become hired. To ensure that employee social responsibility is met within the business, the company should set up a human resource department which should look up at all matters concerning employees. Stockholders refer to persons or corporation that own shares or equity within a company. The expectation of a stockholder is that the company makes a return on investment (Werther and Chandler, 2010). Stockholder may also be referred to as shareholders or owners of the company. Social responsibility in business gets concerned with ensuring that the expectations of stockholders are met. To ensure that the stockholders get return on their investment, the company should seek at ways of maximizing its profits. To ensure maximum profits, the company should employ competent management that runs the company smoothly and ensure that it competes fairly and effectively. The company management becomes encompassed with the responsibility of ensuring that all departments work hand in hand to ensure that the company is successful financially to maximize profits. Profits become ...Download file to see next pagesRead More
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