Not always about profits

Businesses have been instrumental in creating employment, wealth, products and services. Yet pressure on businesses to play a role in social issues involving employees, shareholders, society, environment, government and consumers is continuously increasing. It has become so important that many organisations have re-branded their core functions to include social responsibility. Although such activities involves time, effort and resources, yet the business houses have realised that it is one of the important ways in which they can distinguish themselves from its competitors.

A business organisation has social responsibilities towards consumers, employees, investors and environment. It is the responsibility of the organisation to give correct suggestions and feedbacks to consumers. A businessman should avoid making fake promises and commitments which he cannot fulfill. Organisations tend to forget their customers once the deal is done. After sales, service is essential and it ensures long- term growth and profits for the organisation.

Businesses must pay fees and taxes to the government in the course of carrying out their operations, abide by labour laws and avoid restrictive trade practices and corruption.

 Business organisations have a responsibility to pay employees at least the minimum wages. They should also ensure workplace safety standards and a positive working atmosphere. This has been a major concern in Bangladesh. As incidents show, these are lacking in this sector.

 Social responsibility towards environment means efficient use of resources. Developing new filtering systems to prevent emission release in the atmosphere, re-use water in the production cycle, implement alternative energy production measures and manage waste in a manner preventing pollution of nature are responsibilities a businessman has to undertake.

The writer is a BBA student, East-West University.

 sadi.seyam@gmail.com