Extra Questions - Social Responsibilities of Business and Business Ethics Notes | EduRev

Business Studies (BST) Class 11

Commerce : Extra Questions - Social Responsibilities of Business and Business Ethics Notes | EduRev

The document Extra Questions - Social Responsibilities of Business and Business Ethics Notes | EduRev is a part of the Commerce Course Business Studies (BST) Class 11.
All you need of Commerce at this link: Commerce

SHORT ANSWER TYPE QUESTIONS

Q.1. What is Social Responsibility? 
Ans. Social Responsibility: Social Responsibility of business refers to its obligation to take those decisions and perform those actions which are desirable in terms of objectives and values of our society.

Q.2. Define Environment.
Ans. Environment: The environment is defined as a totality of natural & man -made things existing around us. It is from the environment that the business draws its resources.

Q.3. Define Business Environment. 
Ans. Business Environment: It is a totality of all external forces with which the business interacts constantly but over which it does not have any control. The environment influences the business directly to a great extent.

Q.4. What is Environmental Protection? 
Ans. Environmental Protection: It is the deliberate process of protecting the environment from existing or potential threats of any nature.

Q.5. Define Pollution.
Ans. Pollution: It is the process of emission or release of harmful substances into the environment which harms human life, the life of other species and wasting or depleting scarce sources.

Q.6. What are Ethics?
Ans. Ethics: Ethics is concerned with what is wrong & what is right in a society based on its moral values & beliefs.

Q.7. Define Business Ethics. 
Ans. Business Ethics: It refers to the socially determined moral principles which should govern the business activities.

Q.8. What is meant by ‘Legal Responsibility’? 
Ans. Legal Responsibility: It is the obligation of the business to abide by the laws governing the place at which it exists.

Q.9. What do you mean by ‘Code of Ethics’?
Ans. Code of Ethics: Enterprises with effective ethics programs do define their principles of conduct for the whole organization which is called the ‘Code of Ethics’.

LONG ANSWER TYPE QUESTIONS 

Q.1. Briefly explain any five points in favour of Social Responsibility of Business.

Q.2. What is meant by Social Responsibility? Briefly explain the responsibility of business towards
(i) Shareholders
(ii) Employees
(iii) Consumers and
(iv) Government

6 Marks Questions 
Q.1. Argue for (any 3 points) & against (any 3 points) ‘Social Responsibility of Business’.
Q.2.
Recent changes in the attitude of business people towards social responsibility are based on the realities. Explain any four of such realities.

Higher Order Thinking Skills Questions (HOTS) 
Q.1. You are appointed as a CEO of a leading manufacturing company having many branches across the country. Explain the steps which you can take to ensure business ethics in your organization.

Q.2. ‘Installation of effective pollution control system will reduce the cost and risk of liability and improve public image’. Explain.

Q.3. A business indulges in following activities. Say, social responsibility towards of which group is being violated.
(i) Pay lesser wages than what is fair
(ii) Providing product of substandard quality
(iii) Manipulates its accounts to show lesser profits and to pay lesser tax
(iv) Releases toxic waste material into the air
(v) Indulges in price discrimination

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