What is a responsibility that businesses have to consumers?

What is a responsibility that businesses have to consumers?

A business must supply top-quality goods and services to the customers at reasonable prices. No fake, dishonest and misleading advertisement should be presented before a potential customer. Also, there should be proper arrangements to handle customer complaints and requests.

What are the responsibilities of business?

Typically, most business will have some legal responsibilities relating to:

  • business structure and registrations.
  • licensing.
  • selling goods and services.
  • contracts.
  • leasing premises.
  • employing staff.
  • occupational health and safety.
  • privacy and information protection.

Is CSR a legal obligation?

On April 1, 2014, India became the first country to legally mandate corporate social responsibility. The new rules in Section 135 of India’s Companies Act make it mandatory for companies of a certain turnover and profitability to spend two percent of their average net profit for the past three years on CSR.

What is CSR ethical responsibility?

Ethical responsibilities are self enforced initiatives that a company puts in place because they believe it is the morally correct thing to do rather than out of any obligation. Businesses consider how stakeholders will be affected by their activity and work to have the most positive impact.

Is CSR a legal requirement?

Corporate social responsibility (CSR) is typically assumed as a voluntary initiative rather than a legal mandate. Yet, over the past few decades, the world has witnessed the rise of explicit CSR legislation—a body of laws that specifically target corporations and explicitly incorporate CSR or its synonyms.

Which country made CSR mandatory?


What happens if companies do not apply CSR principles?

Negative impacts may include doing damage to the environment, forcing the exit of smaller competitors, and offering poor customer service, to name a few. This section examines the concept of a corporation as a socially responsible entity conscious of the influences it has on society.

What does social responsibility mean to a company?

Social responsibility in business, also known as corporate social responsibility (CSR), pertains to people and organizations behaving and conducting business ethically and with sensitivity towards social, cultural, economic, and environmental issues.

What are the functions of media?

The Media and its Function

  • Information.
  • Education. Media provides education and information.
  • Entertainment. The other important function of media is the entertainment.
  • Persuasion. It is another function of mass media.
  • Surveillance. Surveillance denotes observation.
  • Interpretation.
  • Linkage.
  • Socialization.

What is the social responsibility of the media class 7?

Answer: The media has an enormous social responsibility: Besides its duty to provide an accurate and detailed account of events, the media should also provide a forum for people to share their views and ideas. It should uphold the values of the society.

Why is media responsible for a better society class 7?

Answer: Media provides information to the citizens, based on which they take their decisions. Therefore, it is necessary that media provides balanced and unbiased news so that the citizens can make informed and right choices.

What is print media class 7?

Print media is about providing news, analysis, comments on articles in the form of printed materials such as newspapers, magazines and pamphlets etc.

What is print media short answer?

Magazines, newspapers, flyers, newsletters, scholarly journals and other materials that are physically printed on paper are examples of print media. By the time a news story is published and delivered in a print publication, the story may have updated significantly.

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