Question

Explain the social responsibilities of business organisations towards consumers

Answer 1

The following responsibilities are expected to be fulfilled by business units towards consumers:
i. Quality products- The business enterprises should provide good quality products and services to their customers. Standardisation of the products should be ensured by using good quality inputs and technologies.
ii. Fair prices- It is the responsibility of business organisations to provide safe products to their consumers at fair prices. They should only charge the actual price of the commodity and not exploit the consumers by charging extra amount.
iii. Consumer services- Services related to the goods and services such as regular feedback and after-sales services should be provided to the consumers. 
iv. Complete information- Consumers should be provided with complete and accurate details about the products. This can be done through advertising and labelling of products and services.
v. Fair trade practises- Business organisations should not exploit their consumers by indulging in unfair trade practises such as hoarding and black-marketing. They should be honest in their dealings with customers and should not exploit them.