Social Responsibility Towards Different Interest Groups

Once the social objective of business is accepted, the next questions are: to whom, and for what, are the business and its management responsible, and in which areas should it pursue social goals? A business unit has to decide the specific areas in which to act.

The chapter identifies four main interest groups to whom a business owes specific social responsibilities:

• Shareholders or owners — a fair and safe return on their investment, with full information.
• Workers — meaningful work, good working conditions, fair wages and fair treatment.
• Consumers — the right quality and quantity of goods at reasonable prices, and the right to information. …