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Social responsibility to different stakeholders - Coggle Diagram
Social responsibility to different stakeholders
Owners/shareholders
Safeguard returns by considering long-term interest of the business (they expect long-term returns from investment in general)
Make decisions in consideration of all shareholders (not only the large shareholders)
Disclose necessary documents that may affect their decision in investment
Employees
Provide fair and reasonable monetary awards (competitive/ attractive salaries, bonus to the greatly performed)
Support employees’ further career development
(subsidise training courses)
provide a pleasant and safe working environment
(spacious workplace, equipments with good conditions, sufficient lighting)
Provide employees benefits to their well-being (comprehensive medical insurance/ flexible working arrangement)
Ensure all employees are treated fairly (an anti-discrimination policy on workplace)
Customers
Ensure all goods and services are reasonably priced and in good quality
Provide necessary informations and details related to the products
Good after-sales service
Take care of the customers with special needs (braille and tactile floor plane/ priority seats)
Suppliers
Treat all suppliers fairly (not charging a high slotting fee for displacing their goods on the shelves)
Offer reasonable prices and terms (not taking advantage of own size and force the suppliers to reduce the prices)
Pay the suppliers on time but not delay or default on the payments
Distributors
(ones helping firm to distribute goods)
Ensure the goods are of good quality but not the defective ones which may diminish the distributors’ reputation
Provide certain assistance to help distributors to sell or promote the goods e.g. clear usage instructions
Creditors
Repay debts on time but not delay the payments which may adversely affect the creditworthiness of the firm → financial position
Provide accurate financial information to the creditors for assessing the risk but not exaggerate the ability to repay the debts
Government
Cooperate with the government offials and law enforces by providing necessary information to assist the investigation in a timely manner
Pay profits tax on time and not avoid tax by concealing the revenues or exaggerate the loss
Adopt business ethical practices advocated by the government but not regulated by laws e.g OT
Community
Minimise the damage from its operations to the environment
reduce wastes (pollutions)
use environmentally friendly raw materials and production methods
Minimise the disturbance to the local residence
dispose of the wastes properly instead of leaving them in the back alley
switch off or dim the lights at the midnight to reduce the light pollution
Organise and support charitable activities
Provide free meals and educational subsidies to people in need
Donate goods or money to the charities
Support and sponsor official sports events
Competitors
Treat all competitors fairly, honestly and with respect
Respect the intellectual properties not plagiarism 抄襲
Steal others’ commercial information
Deploy a spy to other companies
Avoid damaging the industrial reputation