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B Com Exam  >  B Com Tests  >  Entrepreneurship & Small Businesses  >  Test: Business Ethics - B Com MCQ

Test: Business Ethics - B Com MCQ


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10 Questions MCQ Test Entrepreneurship & Small Businesses - Test: Business Ethics

Test: Business Ethics for B Com 2024 is part of Entrepreneurship & Small Businesses preparation. The Test: Business Ethics questions and answers have been prepared according to the B Com exam syllabus.The Test: Business Ethics MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Business Ethics below.
Solutions of Test: Business Ethics questions in English are available as part of our Entrepreneurship & Small Businesses for B Com & Test: Business Ethics solutions in Hindi for Entrepreneurship & Small Businesses course. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free. Attempt Test: Business Ethics | 10 questions in 10 minutes | Mock test for B Com preparation | Free important questions MCQ to study Entrepreneurship & Small Businesses for B Com Exam | Download free PDF with solutions
Test: Business Ethics - Question 1
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What does the concept of "stakeholders" refer to in the context of CSR?

Detailed Solution for Test: Business Ethics - Question 1
In the context of CSR, "stakeholders" refer to individuals or groups who can affect or are affected by the company's objectives. This includes not only shareholders but also customers, employees, suppliers, communities, and the environment.
Test: Business Ethics - Question 2
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What is the primary focus of Corporate Social Responsibility (CSR)?

Detailed Solution for Test: Business Ethics - Question 2
Corporate Social Responsibility (CSR) goes beyond the legal obligations of a company and involves integrating social, environmental, and ethical concerns into its business processes. It focuses on achieving commercial success while also considering the impact on society, the environment, and various stakeholders.
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Test: Business Ethics - Question 3
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According to Milton Friedman's perspective, what is the primary social responsibility of a business?

Detailed Solution for Test: Business Ethics - Question 3
Milton Friedman believed that the primary social responsibility of a business is to maximize profits for its shareholders. He argued that a business's sole purpose is to generate profits within the framework of the law.
Test: Business Ethics - Question 4
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Which component of CSR is concerned with achieving economic success while improving the quality of life for employees and the local community?
Detailed Solution for Test: Business Ethics - Question 4
The component of CSR concerned with achieving economic success while improving the quality of life for employees and the local community is "workplace and labor relations." This involves creating a healthy work environment, promoting employee well-being, and maintaining positive labor relations.
Test: Business Ethics - Question 5
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What does the triple bottom line approach to CSR emphasize?
Detailed Solution for Test: Business Ethics - Question 5
The triple bottom line approach to CSR emphasizes balancing economic, social, and environmental sustainability. It goes beyond profit-making and aims to create positive impacts in multiple dimensions: economic, social, and environmental.
Test: Business Ethics - Question 6
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How does Corporate Social Responsibility (CSR) impact the supply chain?
Detailed Solution for Test: Business Ethics - Question 6
CSR encourages the company to positively influence the entire supply chain. This means that the company should use its strategic position to ensure that its suppliers and partners also adhere to social, environmental, and ethical considerations, benefiting all stakeholders involved.
Test: Business Ethics - Question 7
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Which stakeholder group is directly affected by the quality and production methods of a company's products and services?
Detailed Solution for Test: Business Ethics - Question 7
The stakeholder group directly affected by the quality and production methods of a company's products and services is the "customers." Customers are concerned not only with the cost and quality of products but also with the ethical and social considerations behind them.
Test: Business Ethics - Question 8
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What does the term "Business Ethics" refer to in the context of CSR?
Detailed Solution for Test: Business Ethics - Question 8
In the context of CSR, "Business Ethics" refers to integrating social, environmental, and ethical concerns into business practices. It involves aligning business decisions and actions with ethical values and principles.
Test: Business Ethics - Question 9
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What is the key focus of the triple bottom line approach to CSR?
Detailed Solution for Test: Business Ethics - Question 9
The key focus of the triple bottom line approach to CSR is to balance economic, social, and environmental sustainability. This approach emphasizes the importance of considering multiple dimensions of impact and sustainability rather than focusing solely on financial profits.
Test: Business Ethics - Question 10
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What does the term "stakeholder" mean in the context of an organization's objectives?
Detailed Solution for Test: Business Ethics - Question 10
In the context of an organization's objectives, "stakeholder" refers to individuals or groups who can affect or are affected by the organization's objectives. This includes not only shareholders but also various other parties involved in or impacted by the organization's activities.
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Important Questions for Business Ethics

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