Responsibilities of Management
Management must be aware of their responsibilities to the various groups that they interact with for the successful running of the business.
1. To the owners of the business (this also includes shareholders)
Managers are expected to ensure efficiency in all areas of the business.
2. To employees – Managers must pay adequate wages and provide good working conditions.
3. To customers – Managers must ensure that products are of good quality and are reasonably priced.
4. To the society – Managers must find ways to reduce harmful air pollution and the discharge of harmful waste created by the production process into rivers and seas.
5. To the government – Management should adhere to various government legislation and regulation.