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Worksheet Solutions: Social Responsibilities of Business and Business Ethics | Business Studies (BST) Class 11 - Commerce PDF Download

Multiple Choice Questions (MCQs)

Q1: What is the primary purpose of a business enterprise according to the text?
(a) To maximize profits for its owners
(b) To serve societal needs
(c) To avoid government regulation
(d) To create healthy working conditions

Ans: (b) To serve societal needs

Q2: Which of the following is an example of socially undesirable business practices?
(a) Paying taxes on time
(b) Polluting the environment
(c) Installing pollution control devices
(d) Attending to customer complaints

Ans: (b) Polluting the environment

Q3: What does CSR stand for?
(a) Corporate Social Responsibility
(b) Community Service Regulation
(c) Creative Service Resources
(d) Corporate Sustainability Report

Ans: (a) Corporate Social Responsibility

Q4: According to the text, which of the following is NOT a type of social responsibility?
(a) Economic responsibility
(b) Legal responsibility
(c) Competitive responsibility
(d) Ethical responsibility

Ans: (c) Competitive responsibility

Q5: Which organization defines CSR as "the responsibility of enterprises for their impacts on society"?
(a) World Health Organization
(b) European Commission
(c) World Bank
(d) International Monetary Fund

Ans: (b) European Commission

Fill in the Blanks

Q1: The assumption of social responsibilities implies that businesses respect the aspirations of __________.
Ans: society

Q2: Businesses must avoid making __________ advertisements.
Ans: deceptive

Q3: Social responsibility is a __________ issue as it involves moral considerations.
Ans: ethical

Q4: Businesses have a responsibility to supply goods and services that society __________.
Ans: wants

Q5: The __________ responsibility of business includes compliance with laws and regulations.
Ans: legal

True or False

Q1: Businesses exist solely for the purpose of maximizing profits.
Ans: False

Q2: The social responsibility of business is broader than legal responsibility.
Ans: True

Q3: Providing good quality goods is an example of a socially undesirable practice.
Ans: False

Q4: All business people recognize their social responsibilities equally.
Ans: False

Q5: Pollution control measures can help improve a business's public image.
Ans: True

Match the Following

Worksheet Solutions: Social Responsibilities of Business and Business Ethics | Business Studies (BST) Class 11 - Commerce

Ans:

  • A) Justification for existence - 5) Producing goods and services
  • B) Long-term interest of the firm - 3) Improving public image
  • C) Ethical responsibility - 4) Meeting societal expectations
  • D) Corporate Social Responsibility - 1) Avoidance of government regulation
  • E) Economic responsibility - 2) Responsibility towards shareholders

Short Answer Questions

Q1: What is social responsibility in business?
Ans: Social responsibility in business means that companies should act in ways that are good for society. They should help people and the environment while also making money. Businesses need to think about how their actions affect everyone around them.

Q2: Why is it important for businesses to be socially responsible?
Ans: It is important for businesses to be socially responsible because it helps them build a good reputation. When they treat people and the environment well, customers trust them more. This can lead to more profits in the long run as people prefer to buy from good companies.

Q3: What are some examples of socially responsible practices?
Ans: Some examples of socially responsible practices include making safe products, paying workers fairly, and not polluting the environment. Businesses can also support community projects or help in times of disaster.

Q4: What are the arguments against social responsibility for businesses?
Ans: Some people argue against social responsibility by saying that businesses should only focus on making money. They believe that helping society might cost too much and could make prices higher for customers.

Q5: How can businesses protect the environment?
Ans: Businesses can protect the environment by reducing waste, using clean energy, and recycling materials. They can also follow rules that help keep the air and water clean, which is good for everyone.

Q6: What is the main purpose of a business in society?
Ans: The main purpose of a business in society is to provide goods and services that people need. While making a profit is important, businesses should also help meet the needs of the community.

Q7: Why is it important for businesses to act responsibly?
Ans: It is important for businesses to act responsibly because it helps them build trust with customers and the community. Responsible actions, like paying fair wages and not polluting, can also lead to long-term success and profits.

Q8: What are some examples of socially undesirable practices by businesses?
Ans: Some examples of socially undesirable practices include making fake advertisements, selling bad quality products, polluting the environment, and not paying taxes. These actions can harm people and the community.

Q9: How can businesses help the environment?
Ans: Businesses can help the environment by reducing waste, using clean energy, recycling materials, and following laws that protect nature. These actions make the world a healthier place for everyone.

Q10: What is meant by corporate social responsibility?
Ans: Corporate social responsibility means that businesses should do good things for society while making money. This includes treating workers fairly, being honest with customers, and caring for the environment.

The document Worksheet Solutions: Social Responsibilities of Business and Business Ethics | Business Studies (BST) Class 11 - Commerce is a part of the Commerce Course Business Studies (BST) Class 11.
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FAQs on Worksheet Solutions: Social Responsibilities of Business and Business Ethics - Business Studies (BST) Class 11 - Commerce

1. What are the main social responsibilities of businesses?
Ans. The main social responsibilities of businesses include ethical practices, community engagement, environmental sustainability, fair labor practices, and transparency in operations.
2. How do business ethics influence corporate decision-making?
Ans. Business ethics guide corporate decision-making by establishing standards for conduct, ensuring accountability, fostering trust among stakeholders, and promoting a positive corporate image.
3. What is the difference between social responsibility and business ethics?
Ans. Social responsibility refers to a business's obligation to contribute positively to society, while business ethics involves the moral principles that guide the behavior of individuals and organizations in the business environment.
4. How can businesses effectively implement social responsibility initiatives?
Ans. Businesses can implement social responsibility initiatives by conducting assessments of community needs, engaging stakeholders, setting measurable goals, and regularly evaluating the impact of their programs.
5. Why is transparency important in business ethics?
Ans. Transparency is important in business ethics as it builds trust with customers and stakeholders, reduces the risk of unethical behavior, and enhances the credibility and reputation of the organization.
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