Question 3 – Socially responsible leaders - Social Responsibility (10 marks) (Max. 200 words) Question: How...

Question 3 – Socially responsible leaders - Social Responsibility (Max. 200 words)

Question: How can an enterprise leader maintain the needs of society and earn profit for the organisation?

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The main responsibility of the management of any company is to create and protect the interest of shareholders. Generally, organizations focusing on creating shareholders' wealth have been able to successfully carry out their business operations in the long run.

The enterprise leader should ensure that the business activities are carried out in the most ethical manner and the financial information provided to various stakeholders is complete and accurate. The company should ensure that its activities are in compliance with applicable laws and regulations (including tax compliance). It is important to take into account the environmental effects of company's manufacturing operations and develop appropriate measures/policies to minimize/eliminate any adverse impact on the society/community. Equal employment opportunities along with fair treatment of employees also forms part of the corporate social responsibility.

A socially active organization enjoys customer loyalty and is able to earn profits or reduce its losses even during turbulent times. Therefore, it is extremely necessary for the leader of any enterprise to consider the importance of social responsibility in the day to day activities of the business.

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Question 3 – Socially responsible leaders - Social Responsibility (10 marks) (Max. 200 words) Question: How...

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