Definition

Legal responsibilities

Legal responsibilities is another  one social commitment for strategic managers .

Legal responsibilities reflect the firm’s obligations to comply with the laws that regulate business activities. The consumer and environmental movements focused increased public attention on the need for social responsibility in business by lobbying for laws that govern business in the areas of pollution control and consumer safety. The intent of consumer legislation has been to correct the “balance of power” between buyers and sellers in the marketplace.

Legal responsibilities: The firm’s obligations to comply with the laws that regulate business activities.

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