What is the most important responsibility of the business?

What is the most important responsibility of the business?

Shareholders or Owners The first and most important responsibility of a business should be towards the shareholders or the owners who have invested money. They are eligible for a fair return on the money they have invested.

What is CSR and its importance?

Corporate Social Responsibility (CSR) is when a company operates in an ethical and sustainable way and deals with its environmental and social impacts. This means a careful consideration of human rights, the community, environment, and society in which it operates.

What are the advantages of social responsibility?

The potential benefits of CSR to companies include:better brand recognition.positive business reputation.increased sales and customer loyalty.operational costs savings.better financial performance.greater ability to attract talent and retain staff.organisational growth.easier access to capital.

What is an ethical responsibility?

Definition: Ethical responsibility is the ability to recognize, interpret and act upon multiple principles and values according to the standards within a given field and/or context.

Who is responsible for ethical behavior?

Managers Role in Ethical Conduct. Managers are responsible for upholding the ethical code and helping others to do so as well.