Accounting technicians scheme west africa

42 responsibility has become a major issue in management. Major production and distribution activities in modern societies are carried out by organisations. Most of societies resources (financial, intellectual and material) are under the control of organisations. These organisations significantly affect the future of society. Corporate social responsibility refers to the obligation of a corporate body to seek actions that protect and improve the welfare of society along with its own interests (Bartol & Martins, 1994). Social responsibility is the obligation a business assumes to maximise its positive impact and minimise its negative impact on society. Another authority defined corporate social responsibility as the notion that corporations have an obligation to constituent groups in society other than stockholders and beyond that prescribed bylaw or union contract (Jones, 1980). With respect to this definition, an action must be voluntary to qualify as asocial responsible action. Social responsibility is also examined in terms of economic, legal, ethical and philanthropic responsibilities. ab Economic responsibility requires the business enterprise to utilize the resources of the society or community efficiently. This is to say that the business enterprise is required to deploy the human, material, technological and other resources acquired by it from the society in a manner that maximizes the output/profit of the operation or maximizes the value-added by the operation. This is a required responsibility as it not only ensures the survival and growth of the business, but also generates jobs and other benefits to the society. b)
Legal responsibility: Business enterprises, as good corporate citizens, are to obey all the laws and regulations of the land. c)

Download 3.37 Mb.

Share with your friends: