Two ways business be socially responsible
You have identified the strategies that you want to implement in your business in the letter to your relative.
1. What safeguards and controls would you and your partners put in place to ensure that the goals identified can be pursued ethically?
o Safeguards are policies, procedures, or mechanisms that when effectively applied serve to reduce or eliminate risks that could result in harm or loss. Examples include: personnel policy and procedures, risk management policies, safety training, loss (theft) prevention training, loss prevention devices (cameras, etc.)
o Controls are: Management process of monitoring an organization's performance to ensure that it is meeting its goals. Examples include: sales volume monitored, customer service complaints monitored, monitoring inventory levels, keeping track of overtime expenses, and monitoring expenses and budgets.
2. What two ways will your business be socially responsible?