What Does the Term “responsible Business” Mean?

What does the term “responsible business” mean?

First of all, based on my research, responsibility means a duty or obligation to satisfactorily perform or complete a task which assigned by someone, or create by one’s own promise or circumstances. For example, it is your responsibility as a manager to delegate the correct jobs to the right people so that things get done rights. Another example is as a manager, it is your responsibility to make sure that everyone always on task and doing the right thing on right time.

In addition, I believe it is essential that business are profitable and ensuring this must be the first responsibility. Nowadays, responsible business practice could apply to several areas. The business should promote fairness and equality in employee and customer relationships. Some company will not do anything if it negatively impacts the environment. Other will attempt to strike a balance between earning profits and impacting the environment.

Not only that, contributing back to the community is another big topic for responsible business practices. These contribution can take shape of financial donations from the company or by coordinating volunteer among employees.

The reason of responsible business practice is it can help to attract and retain employees, help to improve customer sales and loyalty and lastly it also help to safeguard a company’s reputation and strengthen its community relations.

In short, responsible business is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community.