Business Makers

• Pollution means the injection of harmful substance into the environment. Since independence, growing population and rapid growth of industries in India have crated serious environmental problems. For example, Delhi alone has more than 12.355 industries. The smoke and smell emanating from these industries are polluted their. Such pollution affects the health of people. It has been estimated that more than 5000 people die every year in India due to air pollution. Most of the industries dump their liquid waste into rivers, canals and underground water which leads to pollution of drinking water. Industries also cause noise pollution.

• The amount of environmental pollution depends upon the type of pollutant; the amount of pollutant disposed of into the environment and the distance of a place form the sources of pollution.

Business interacts with several interest groups of society. These interest groups are s follows:

INTEREST GROUPS

Owners and Employees Consumers Supplies Government Community
Investors and general
Public

The responsibilities of business towards these interest groups are summarized below:

• Responsibilities Towards Owners and Investors: (a) To provide a fair return on their investment (b)To furnish regular, accurate and complete information abut the working of the company (c) To maximize the shareholders’ wealth by means of increase in the value of shares (d) To allow the shareholders representation and participation in the management of business.

• Responsibilities Towards Employees: (a) To pay fair wages for the contribution of employees (b) To provide security of job and promotion opportunities (c) To offer welfare facilities like safe working conditions, housing, medical and leave, retirement benefits etc. (d) To treat employees as partners in the management and progress of business (e) To evocate work according to their knowledge an aptitude is as to ensure job satisfaction.

• Responsibilities towards Consumers: (a) To provide goods and services of the right quality and at reasonable prices(b) To avoid unfdair trade practices such as adulteration. Black-marketing, misleading advertising, etc. (c) To handle consumer grievance quickly and courteously. (d) to provide effective and prompt after sale service.

• Responsibilities towards Suppliers: Every business firm should develop and maintain healthy relations with suppliers and competitors. It must pay the right price and make regular payments to its suppliers. In regular dealings with competitors, a business enterprise must not adopt unfair trade practices such as price cutting to gain unfair advantage.

• Responsibilities towards the Government: (a) To comply with the laws passed by the government (b) To pay all taxes honesty and in time (c) To assist the government in the formulation and implementation of proper business policies (d) To support the government efforts in improving the quality of life of people.

• Responsibilities Towards the community and General Public: (a) To reduce pollution (b) To take adequate safety measures against production of hazardous or unsafe products (c) To contribute to social welfare by helping educational institutions, hospitals, weaker sections of society, etc. (d) To provide relief in times of natural calamities such as drought, flood, earthquake, etc. (e) To promote sports, art and culture (vi) To prevent discrimination on the basis of sex, caste, race, religion, etc. in providing employment.

Business is expected to work for the economic and social well being of the community. The responsibilities of business towards the society as a corporate citizen are as follows:

To make optimum utilization of national resources.
To generate maximum opportunities for gainful employment.
To protect the natural environment formal types of pollution.
To promote communal harmony and peas in society.
To uplift the weaker sections of society such as handicapped, orphans, widows, scheduled castled, etc.
To promote national interrogation and democratic institutions.
To preserved and promote social and cultural values.
To undertake research and development so as to improve quality and reduce costs.

A business owes its existence to its consumers. The responsibilities obtuseness towards the consumers is given below:

To produce the goods and services needed and desired by consumers.
To provide goods and services of goods quality at reasonable prices.
To provide current information about goods and services.
To avoid malpractices such as adulteration, black marketing, misleading advertising, etc.
To redress the grievances of consumers effectively and promptly.
To comply with the laws aimed at protection of consumed.
To provide prompt and effective aftedr-sale service.

The responsibilities of business towards its shareholders are as follows:
To ensure safety of investment.
To provide a fair and regular dividend.
To provide regular, accurate and up-to-date information about the company.
To utilize the capital productively.
To ensure growth of business.
To offer reasonable opportunities for participation of shareholders in policy decisions.

The responsibilities of a business towards its employees are as under:
To give them fair wages a full employment.
To provide good working condition.
To offer security of service and job satisfaction.
To provide suitable opportunities for promotion and career advancement.
To develop a sense of belonging and dignity of labor.
To offer reasonable opportunity for participation in the management of business.
Employees are the greatest assets of a business. The improvement of their value is both a matter of material advantage and moral obligation. They should be fully informed, fairly rewarded, properly assigned, trained and developed and treated as honorable individuals both on and off the job.

A private company combines the following advantages of partnership and public company

• Large capital: A private company can raise larger financial resources than a partnership.

• Limited Liability: Like a public compan7y, the liability of members in private company is limited to the face value of shares held by them. Unlike a partnership, the risk of members is limited.

• Continuity: A partnership is dissolved on the death, insolvency and lunacy of But a private company like a public company continues to exist irrespective of these events.

• Freedom from Legal Formalities: A private company is free from several legal formalities applicable to a public company. As in the case of partnership, three is flexibility of operations in a privet company.

• Close Supervision and Control: The membership and control of a private company rests with a small group of relatives and friends. Like a partnership, it enjoys benefits of prompt decisions, secrecy and effective control.

Thus, a private company is a mixture of partnership and public company. It enjoys ease of formation, flexibility of operations and personal control which are available in a partnership. At the same time, the main benefits of a public company such as limited liability and stability are available to Privet Company.
Private company enables a small group of persons to control the management without undertaking the risk of unlimited liability. Therefore, it is an ideal form of organization for people who seek personal control of business with the benefit of limited liability. On the others hand, a public company is an ideal form of organization for large scale enterprises like steel, automobiles, computes, etc. because huge capital can be secured form the general public.

San Francisco: Youtube the world’s most popular video web site has place software for the pirated videos blocking after the allegation of copyright abuses. YouTube is developing this software with joint venture with Google. After the day of purchase of $1.65 billion stock deal Google is on the target of the video owners, entertainment business giant and English soccer league about not talking much suitable steps to prevent posting of the copyrighted clips at their website.
Till now YouTube has on the US law that has provided YouTube about taking copyrighted videos, but as pressure is building up the YouTube is taking further steps to avoid this type of troubles in future.
Viacom based at New-York already pending a billion dollar in against YouTube. This software is now at testing phase at website of YouTube.
Video Identification software will automatically block the pirated video and it also allow the copyright and video owner to identify their content at YouTube and they will decide block or promote the video or not.