Definition Of

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.

Share it:

More from this Section

  • Functional tactics
    Functional tactics are the key, routine activities that must be undertaken in each functional area-marketing, finance, production, R&D, and human resource management to provide the business products and services
  • Chain of command
    Chain of command is the line of authority extending from upper organizational levels to the lowest levels, which clarifies who reports to
  • Innovation
    A grand strategy that seeks to reap the premium margins associated with creation and customer acceptance of a new product or service.
  • Team structure
    An organizational structure in which the entire organization is made up of work groups or teams, is called team structure. In this structure,
  • Profitability
    Profitability means the ability to earn profit. It refers to the ability of any firm to operate in the long run depends on attaining an acceptable level of profits.
  • Functional strategies
    Functional strategies are the strategies used by an organization’s various functional departments to support the organization’s competitive
  • Task-based structure
    Task-based structure is a structure in which a group of people required to accomplish a given task are brought together based on their skills rather than