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Market Concentration Brief Explanatory Common Example: Shareholders

The document outlines the responsibilities of a business to various stakeholders: shareholders, managers, society, customers, employees, and the environment. Shareholders expect a return on their investment and honest business performance reports. Managers must give accurate accounts of their management. A business should be good corporate citizens, give back to the community, operate ethically, sell quality products at reasonable prices, provide customer service, offer a safe and rewarding work environment for employees with fair pay and respect. They should also consider the environmental impact of their operations.

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Joshua Halim
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16 views

Market Concentration Brief Explanatory Common Example: Shareholders

The document outlines the responsibilities of a business to various stakeholders: shareholders, managers, society, customers, employees, and the environment. Shareholders expect a return on their investment and honest business performance reports. Managers must give accurate accounts of their management. A business should be good corporate citizens, give back to the community, operate ethically, sell quality products at reasonable prices, provide customer service, offer a safe and rewarding work environment for employees with fair pay and respect. They should also consider the environmental impact of their operations.

Uploaded by

Joshua Halim
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Shareholders

Managers

Society

Customers

Employees

Shareholders are the owners of the business. As such the main responsibility of the business is to maximise the return on the shareholders investment. Business should also produce an annual report and provide information in regard to the business performance. Managers must give and honest and accurate account of their management of the businesss resources. In return the business has to support the actions of its management. The social responsibility to the local community is to be good corporate citizens. Society expects businesses to give back to the community something of what they take out generating profits. The business should be operated in an honest, ethical manner. They should ensure that they are producing quality, safe products, and sell them at a reasonable price. Business should also provide its customers service during and after sales. Employees need a safe and psychologically rewarding work environment. Employees should also receive fair pay and their work should be acknowledged and respected. In addition to that, they should also be given access to training and development. Business should consider impact of doing certain task on the environment. They adopt ecological sustainability practice

Environment

Market concentration
Monopoly Oligopoly Monopolistic competition

Brief explanatory
the complete concentration by one firm in the industry. consists of a small number of larger firms which dominate the market. the most common type of market. There is a large number of buyers and sellers, the goods and services are differentiated by packaging, quality, brand names, etc. where there is a large market of small businesses which sell products that are the same or similar.

Common example
Cityrail Banks

Local retailing

Perfect competition

Fruit growers

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