What Are the Rights and Responsibilities of Businesses?

business owners responsibilities No count whether you own a little business unit or a multinational company, your occupation entails major responsibilities which need to be fulfilled without any compromises. At the lapp time, your occupation besides enjoys certain rights which differ from place to position .

Rights

As a occupation owner, you have the veracious of decision construct for each and every aspect related to your business processes. You have the right to run business in any manner, following any strategy until and unless you are not violating any state or federal law. There is no specify of capital or efforts invested to ensure achiever and increased business productiveness .
You are free to frame fresh and effective occupation strategies that add newfangled customers and increase tax income in the competitive business era. Your business besides has the right to refuse the provision of goods and services under assorted circumstances .

  • Decision Making
  • Right to Refuse Service
  • No limit of capital investment
  • Make changes in business processes or strategies

Responsibilities

Your occupation company entails crucial responsibilities towards :

  • Shareholders or Owners
  • Customers
  • Employees
  • Government
  • Society and Environment

Let ’ s discuss them one-by-one .
Shareholders or Owners
The first and most important duty of a business should be towards the shareholders or the owners who have invested money. They are eligible for a honest return on the money they have invested. The shareholders expect dividends and appreciation in the value of shares, which depends upon the company ’ mho performance .
Customers
Customers are the most crucial and valuable assets tor any business organization. A business must supply high-grade goods and services to the customers at fair prices. No bogus, corruptible and misinform ad should be presented before a electric potential customer. besides, there should be proper arrangements to handle customer complaints and requests.

  • Commitment to provide best-quality goods or services
  • The goods / products are fit for the required purposes
  • Customer support post-sales
  • Genuine cost without compromising with quality
  • No fake promises

Employees
A business directly or indirectly depends upon the productiveness and employment efforts of its employees. Following which, a business organization must provide a fair wage based upon the work and industry standards. An employee besides deserves a healthy and condom work environment with policy, compensation, and medical benefits in the event of any loss or wound at the workplace .

  • Equal opportunities for all
  • Healthy and safe work environment
  • Comply with Minimum Wage Act
  • Compensation for injury at workplace
  • Insurance and Medical Benefits

Government
A business setup must comply and follow the guidelines laid by the government. It shouldn ’ thymine indulge or follow any unlawful activities and corrupt practices. One should conduct the clientele in a lawful manner with paying all taxes and duties honestly on time.

  • No illegal trade or manufacturing
  • No violation of state or federal law
  • Fair business practices
  • Fair business audits and taxation

Society and Environment
A occupation is a separate of the society and hence it should contribute its partially towards the wellbeing of the company. It should generate employment opportunities evenly for all, regardless of their hurl, sex or color and promote social and cultural values. A commercial enterprise must besides protect the ecological environment of the society without contributing any type of damage like air or water contamination .

beginning : https://enrolldetroit.org
Category : Social

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