Question

Enumerate the social responsibilities Puneet has to undertake towards Government, Employees, Society and Customers.

Hint:

A responsible business balances profit-making with ethical practices, contributing positively to all its stakeholders.

Answer 1

Puneet, as an entrepreneur, must understand that a business does not operate in isolation and has responsibilities towards various stakeholders. These social responsibilities include:

• Towards the Government:
  • Paying taxes honestly and on time.
  • Complying with laws and regulations such as the Companies Act, labor laws, and aviation safety standards.
  • Supporting national development initiatives and promoting transparency.
• Towards Employees:
  • Providing fair wages, job security, and a safe working environment.
  • Offering opportunities for skill development and career advancement.
  • Maintaining non-discriminatory policies and encouraging employee welfare.
• Towards Society:
  • Contributing to environmental sustainability (e.g., reducing emissions from aerial crafts).
  • Creating employment opportunities and supporting community development.
  • Avoiding activities harmful to public health or social harmony.
• Towards Customers:
  • Ensuring high-quality, safe, and reliable products (aerial crafts in this case).
  • Charging fair prices and maintaining honesty in advertising.
  • Providing after-sales support and handling grievances ethically.