This is when managers and companies have to take decisions and have to take into account the needs and demands of the stakeholders while generating a profit for the organization.

Stakeholders are people or organizations who have an interest in the organization.

Different Stakeholders

The environment- Companies have realized there business practices have caused damage to the environment and are now taking measures to rectify that. They can install split system air conditioning in Perth because this is more efficient and will reduce the amount of energy wasted; this will also save the company money. It is very easy to control via a remote and they cool spaces very quickly. They are easy to maintain and have low maintenance costs. The indoor unit of the system can be cleaned by the owner by removing the filters and cleaning them.

Electrician Perth is a good place to find people to help you fix and maintain them. They will be cost effective and will provide a quality job. They will also be on time and not waste your day by making you wait for them.

Employees- Your employees will demand fair salaries and good working conditions.

The community- The community will want their quality of life increased and will want to benefit from the business. They will not want to be affected by them; a nuclear power plant has to take necessary precautions to not affect the residents around the area. Feel free to contact electrical contractors in Perth for further assistance.

The type of responsibilities

The social responsibilities that a company will face can be divided into four.

They will have economic responsibilities- They have to make profits and take care of the customers and employees also. They will have to make quality products that customers want and they will also have to make a profit for the organization. If they only focus on profit they can get into trouble.

The legal responsibilities- They will have to work within the legal framework, these will be rules and regulations made by the government and local authorities.

The ethical responsibilities- They will have to make decisions to do the right thing. They will have to treat everyone equally, fairly and respect rights of others. They cannot treat people differently based on arbitrary characteristics. They can only treat people differently if the differences between them are related to the organizations goals and tasks, if they work in different market segments.

Discretionary responsibilities- All organizations should fulfill their responsibilities of giving back to the community and improving the welfare and standard of lives of the people. They should do this on their own accord and merit.