Accounting technicians scheme west africa
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- C.1.1 Dynamics of Social Responsibility
| Ethical responsibility: Ethical responsibility is expected by society of the business enterprise. This means that beyond obeying the law and complying with all regulations by Federal, State and Local Governments, business enterprises have the moral responsibility to do what is right and avoid what is wrong. They are expected to do what is right and proper with respect to protecting the environment, natural resources and upholding the values of the society. Similarly, they must do whats right and proper in relation to all their stakeholders - employees, suppliers, government agencies, etc. db responsibility: It is desirable that business enterprise should use its discretion to solve some of the problems of society such as pervasive, poverty, lack of infrastructure in the communities where they operate, poor health and educational facilities, etc. This responsibility is in the self-interest of the business enterprise as it reduces tension between it and its host community and creates a favourable environment. C.1.1 Dynamics of Social Responsibility At the early stage of social responsibility, the focus was on the owners of the business – the shareholders. To management, the task was to maximize profit and satisfy the expectations of shareholders through dividend payout. 43 With time, managers saw the need to attract, retain and motivate employees. Hence in addition to meeting the expectations of shareholders, management sought to meet the expectations of employees by providing improved working conditions, recognizing employees rights and demands for Job security, safe/healthy work environment and human dignity. The next stakeholders to attract the attention of management are customers, suppliers, distributors, etc. The thrust of social responsibility to these stakeholders were fair prices, high quality goods and services, safe and healthy products, establishment of good relationship to ensure long term sustainable partnership that is mutually beneficial. The last stage is responsibility to society. At this stage, management recognizes and accepts responsibility to beat the forefront of the advancement of public good, protection and greening of the environment, support for social and cultural activities and advancement of equity and justice. Download 3.37 Mb. Share with your friends:
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