Pakistan study notes for Matric, Intermediate, B.A, B.COM BSC, M.A, BCS. Free Pakistani Urdu educational school, colleges and University notes.



This group suggests that the social responsibility of businessmen be classified as follows:

1. Obedience to law

2. Meeting public expectations

3. Inventions and innovations according to the need of time/anticipating new demand.

4. Leading people


1. Obedience to law

It is the first and foremost and minimum responsibility of the businessman to observe laws prohibiting adulteration, black marketing, hoarding, and exploiting labor and consumer. Even if the businessman observes truly these laws, he will be fulfilling his social responsibilities.


2. Meeting public expectations

A businessman can come up to the public expectations if he exercises the following:

i. Providing the consumer with the right product at the right price at the right time.

ii. Determining a pay structure agreeable to both the employer and the employee.

iii. Establishing good relations with employees.

iv. Making scientific selection of personnel avoiding any nepotism and jobbery.

v. Increasing production to bring down the cost and hence the prices and not restricting the production to create shortage and take the prices up.

vi. To grant support both financial and technical in educational and health fields.

vii. To offer jobs to the handicapped.


3. New Inventions And Innovations/ Anticipating New Demand

The world is changing fast and new technologies and opportunities are coming up. The consumer wants a better and improved life for himself and hopes to bring under his use new inventions and innovated goods. He wants to enjoy the blessings of scientific and technological development. If a business organization is determined to meet this expectation of the consumer it will he said to have reached the third stage of the service to the people.


4. Leading People

This is the highest level of service where only a few number of businessmen can reach. Those businessmen for whom earning profit is no problem and who have attained material objectives of business such as goodwill, inventions, innovations, are now in a position to lead the people to a better life. They bring about new goods and services and techniques that satisfy people needs at a reasonable price. They offer goods, services, and quality at a price acceptable to the people.


Examination Questions

1. Define environment. Discuss its various kinds.

2. What are the factors that form economic environment? Elaborate your answer. Can you control this type of environment?

3. Analyze social/cultural environment, flow can you, as business manager, meet this challenge?

4. a. Flow does political environment affect business?

b. Can you harmonize your business to the legal environment? How?

5. Write short notes on the following:

a. Controllable and controllable environment.

b. Internal and external environment.

c. Social responsibilities of business.

6. State in detail technological environment along with its impact on the business. Also discuss its negative impact on the business.

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