Q.Explain social responsibilities of commercial organisation towards consumers.
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Start your 14-day free trial to unlock the full solution →Consumers are a key interest group of any business. A commercial organisation's social responsibilities towards them include supplying good-quality goods at fair prices, ensuring regular supply, avoiding unfair practices, providing honest information, and offering after-sales service and grievance handling.
Consumers are the very reason for a business's existence, so a commercial organisation has definite social responsibilities towards them. These responsibilities are explained below:
1. Supply of Right-Quality Goods at Reasonable Prices: The organisation should provide good-quality, safe and useful products at fair and reasonable prices, without overcharging or exploiting the buyers.
2. Regular and Adequate Supply: It should ensure a continuous and sufficient supply of goods and services so that consumers do not face shortages, hoarding or artificial scarcity.
3. Avoidance of Unfair Trade Practices: The business must not indulge in adulteration, black-marketing, hoarding, use of false weights and measures, or sale of duplicate and sub-standard goods.
4. Honest and Truthful Information: Advertisements and product labels should give correct information about quality, price, contents and usage. Misleading or false advertising must be avoided so that consumers can make informed choices.
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