Expectations of society towards business are changing.
Solution:
Today the world is changing and expanding very fast. Social demands have changed gradually over the years. The business has to respond to them positively.
Now the people all over the globe are well aware of their rights. The overall knowledge level has also increased. In order to fulfill the growing needs of the people, the business firm must operate as per the expectations of society. Business units must give society what it actually wants.
Consumer satisfaction is the ultimate purpose of business activities. A business organization must give priority to consumer satisfaction over profit motive. Its survival, progress, and reputation depend upon consumer satisfaction. It must win the confidence of its customers by giving them useful services.
Business organizations are expected to action broad public interest and serve the objectives of mankind and society at large along with the objectives of earning profit. It must provide quality products to society at reasonable prices and above all contribute to social welfare.
