Introduction: -Government
provides incentives for industrialization. Government has passed many acts and
has laid down many rules and regulations for this purpose. It also declares
various policies related to business. E.g. government has passed policy for
entry of foreign traders in retail trade.
Definitions:
- "The personal obligations of the people as they act in their own
interest to assure that the rights and legitimate interests of others are not
ignored." Defined by.......... (Koontz and O'Donnell)
Responsibilities towards Government:
1.
Timely
Payment of Proper Taxes:
-The Government has levied various taxes on
business units such as excise duty, sales tax, corporate tax, etc. business
units should give proper information of product and should pay taxes accurately
as per the provisions. The tax revenue helps the government to provide
infrastructure and other welfare facilities.
2. Respecting
rules and Regulations:
-Business unit should follow various laws and
regulations created by government. While setting up the business, they must
follow guidelines set by the government. However, they can make suggestions to
government to modify the rules if it is in interest of the society.
3.
Earning
Foreign Exchange:
-Especially large scale business should enter in
export trade to earn foreign exchange. They should enable the government to
import capital goods and technical know-how. All rules and regulations
pertaining to imports and exports should be strictly followed.
4. Political
Stability:
-For economic growth the national security, political
stability is required. A stable government often brings more returns and peace
in a democratic society. Business units should not support those groups or
individuals who are interested in creating political disturbance.
5.
Implementation
of Socio-economic
Programmes:
-The Government declares various policies for
achieving economic, social and industrial progress of society. Business
organization is expected to help the government in the implementation of
various socio-economic programmes.
6.
Miscellaneous: -
·
Helping government during natural
calamities.
·
They should not seek any favour
from government officials by bribing or influencing them
·
They should provide complete and
correct information to government officials.
·
Giving timely advice to
government in framing important policies in field of export-import retail etc.
·
Providing economic and other help
to welfare schemes of the government.
