Social Responsibility of a Businessman

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In this modern and materialistic world everything is governed by the acquisition culture. Usually, the only thing that is measured by greatness is the wealth of the person especially businessmen.

Yet, it is necessary to know the social responsibility of businessmen.

Undoubtedly, many businessmen are blinded by the riches in quest of wealth. They think that profit-earning is all that their life takes in such a way that they forget about the social responsibility of businessmen. Apparently, the only social responsibility that they know is to engage in activities and use their resources to increase their profits. Unlike any other citizens of the nation, businessman has the social responsibility to preserve the welfare of the nation.

Nation’s Welfare

Engaging in business entails its own rules and ethics to remain in the game. However, due to the desire to obtain the gleaning rich profits many of them engage in activities that are disreputable such as black marketing, hoarding, smuggling and many others. These activities guarantee to make more money quickly but they compromise their social responsibility of protecting the economy. Obviously, adulteration is a major threat to public health while hoarding can make people panic and insecure about the steady and smooth grows of the economy. In like manner, black marketing would lead to inflation that deprives the government to use monetary sources for social welfare. Many businessmen engage in smuggling that exhausted the country’s resources and eventually hold back the economic growth.

Despite of the negative activities that businessmen are doing, business ethics encourage those to defy the temptation that would harm the economy instead promote the social responsibility. In this sense, businessmen should employ their social responsibility to contribute all they can for the welfare of the nation and its constituents. The primary thing that businessmen should do is to follow the rules and regulations set by the government. They should function according to the economic structure set by the government and should not aim for monopolistic positions. Otherwise, non-observance of the rules would lead to surreptitious activities like corruption.

Moreover, since businessmen are supreme in the economy, they should be accountable for the customers. This means that they should ensure customers’ satisfaction by providing quality goods and services for the consumption of their consumers. Nevertheless, there are clever businessmen who provide misleading advertisements and glossy salesmanship just to rob the hard earned money of their customers. The reality is that all businessmen has the social responsibility to their customers that is why they should not mislead them just to make quick profits.

Aside from the responsibility to the nation and consumers, businessmen should be responsible for their employees not only for providing employment but also for giving the necessary benefits. Finally, another social responsibility of businessmen is to enhance the social climate of the business community.

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