Identify some ways in which negative conflict can be avoided.

i) Individuals. Coping with stress by means of:

 Non-competitive physical exercise.

 Socialize with people other than co-workers.

 Open up to others by discussing freely your problems, fears and frustrations with those who care about you.

 Restrict the number of meetings you hold.

 Delegate responsibilities to reduce work overload and allow some measures of flexibility in the use of time.

 Develop a network of social support system through positive thinking, trust and have confidence in people.

 Moderate your life changes. Too much unexpected changes produce stress.

 Protect your idle leisure time by making hobbies your social life, not talking.

 Avoid setting unrealistic goals and use of drugs to check stressful events.

 Pace yourself and allow for certain amount of flexibility in your day‟s schedule.

 Practice good nutrition by feeding appropriately with balanced diet.

 Practice the style of time management.

 Train yourself on objective setting and adhere strictly to your plans.

ii) Organizations: Organizational sources of

stress can be

minimized by means of:

 Proper selection and placement to screen out individuals who are prone to stress and match individuals with their capabilities.

 Train employees on how to minimize stress.

 Improve organizational internal communication to reduce anxiety and uncertainty.

 Develop people oriented management style.

 Clarify role expectation.

 Implement employee‟s assistance programme.

iii) Environment: Environmental sources can be minimized by:

 Anticipating stressful period and planning for proper arrangement of the work environment in order to provide a safe and comfortable working environment.

 Redesigning jobs where necessary to motivate workers and reduce work over load.

Social Responsibility in Small Scale Business Management

Social responsibility and business ethics are concepts that are fundamental to the survival of any business in the contemporary business environment. Social responsibility and ethical issues form daily component of business activities. They are involved in all facets of a business: decision-making, arbitration, marketing, finance, sales, performance appraisal, leadership, etc.

Social Responsibility: Business social responsibility focuses on what an organization does that affect the society in which it exists. The term,

“social responsibility” can be described as the intelligent and objective concern which restrains individual or corporate behaviour from ultimately destructive activities no matter how immediately profitable, and leads in the direction of the positive contribution to human betterment (Andrew, 1977).

The theory of social responsibility holds that a business should be socially responsible to a number of groups such as:

 Owners, by maintaining a high level of efficiency and

effectiveness leading to growth in investment and returns.

 Employees by making the work environment a better place to achieve the personal goals.

 Customers, by producing the required product at affordable prices, refraining from unfair trading practices, exaggeration, and misrepresentation in advertisement.

 Government, by contributing to government revenue, accelerating economic growth and complying with the legal environment requirements.

 Creditors and suppliers settlement of claims at the appropriate time.

 Larger Society; contributing to development of the society and observing ethical ideas.

Investment in social responsibility will bring about the following benefits.

 Long run profit maximization

 Enhanced public image

 Long run viability

 Prevention of government restrictive measures.

 Possibility of increasing profit in future.

Some of the social issues confronting entrepreneurs in Nigeria include:

 Ecological issues: Business firms must reduce or eliminate problems resulting from technological breakthroughs. Such problems include pollution, solid waste or refuse pollution, water pollution and noise pollution.

 Consumerism: The reaction of consumers to business injustices and their effort to have those perceived injustices remedied.

Such injustices include lack of production information.

 Minorities and the poor: Discrimination of the minorities and the poor considered disadvantaged must be avoided. Example are discrimination in hiring, training and development opportunities.

 Business Ethics: Engaging in good, right, and moral business practices.

Small business can respond to these social issues by:

 Ensuring minority hiring and equality in treatment of women in employment.

 Taking specific steps of combat pollution such as treating of stream water by installing pollution-control.

 Providing more consumer information and improving product

safety.

Finally, in planning and evolving social responsibility programmes, the following phases of activities may be suggested:

 Awareness within the organization on the need for and importance of social responsibility in small business management.

 The entrepreneur involvement in social responsibility through specific charitable contributions, actions and decisions.

 The entrepreneur may appoint an officer to coordinate social responsibility.

 Social responsibility is incorporated into the objective of the business.

 Periodic appraisal of social responsibility performance and

 Utilizing the report for reward system.

SELF ASSESSMENT EXERCISE What is time management?

4.0 CONCLUSION

The implication of this theory is that a business should not seek profit maximization only but should maintain an equitable working balance among some interest groups. Part of the profits made by a business should be diverted towards betterment of the society. Contribution of a business to the betterment of the society will make it easier for the business to grow, survive, and make everlasting profit.

5.0 SUMMARY

Time is very important like many other resources such as money, materials, men, machines and information. In fact, it is more valuable than other resources. Planning includes social responsibility programmes as well.

6.0 TUTOR-MARKEDASSIGNMENT 1. Discuss social obligation of organization.

2. What is stress management?

7.0 REFERENCES/FURTHER READINGS

Baumback, M. C. (1992). Basic Small Business Management. New York: Prentice Hall Inc.

Lawal, A. A. (1993). Management in Focus. Nigeria: Abdul Industrial Enterprises.

Stoner, J. Freeman, R.E. and Gilbert, D. (1995). Management. U.S.A:

Prentice-Hall Incorporation.

UNIT 3 CONTEMPORARY MANAGEMENT