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Outline one social responsibility of a business to each of the following stakeholders - Leaving Cert Business - Question 11 - 2008
Question 11
Outline one social responsibility of a business to each of the following stakeholders. (i) Local Community: (ii) Suppliers:
Worked Solution & Example Answer:Outline one social responsibility of a business to each of the following stakeholders - Leaving Cert Business - Question 11 - 2008
Step 1
(i) Local Community:
Answer
A key social responsibility of a business towards the local community is to avoid pollution. Businesses can achieve this by implementing eco-friendly practices, such as reducing waste, managing emissions, and ensuring that their operations do not harm the surrounding environment. Additionally, engaging in community consultation helps build positive relationships and ensure that local concerns are addressed.
Step 2
(ii) Suppliers:
Answer
One important social responsibility of a business towards its suppliers is to ensure timely payment. Paying suppliers on time helps maintain trust and supports their financial stability. Furthermore, businesses should avoid exploitation, ensuring that they engage in fair pricing and ethical practices, which fosters a healthy business relationship and promotes sustainability.