An extensive collection of Class 11 Business Studies Chapter 6 Important Questions has been created by subject matter experts Extramarks business studies using references from various primary and secondary sources. These questions and their step-by-step solutions help students better comprehend all the topics covered in Class 11 Business Studies Chapter 6.
Given below are a few Important Questions from Class 11 Business Studies Chapter 6 and their solutions:
Q1. State the meaning of Corporate Social Responsibility as per the Companies Act 2013.
Answer. Corporate social responsibility refers to the obligation businesses have to play in achieving social development goals and maintaining a balance between environmental preservation, social advancement, and economic development.
The Companies Act’s section 135 governs CSR and applies to businesses that has:
Schedule VII covers eliminating gender disparity, eradicating hunger and poverty, and fostering a sustainable environment.
Q2. Briefly describe the idea of corporate social responsibility.
Answer. In today’s culture, business is acknowledged and regarded as a social and economic activity. To meet the requirements of society, the business operates within accepted social standards. Society provides the business with all the factors of production, including personnel, machinery, materials, money, and equipment, since the business’s life depends on society.
Society establishes, maintains, and administers its activities in the public interest. In other words, social responsibility is the company’s duty to many societal groups and profit-making.
Q3. What do you mean by social responsibility in business? How is it different from legal responsibility?
Answer. It refers to a corporate organization’s obligations and responsibilities to society and its constituents. Additionally, it demands that the business engages in several socially valuable actions. As a result of the constant exploitation of social resources by businesses, it is part of their duty to contribute to society’s advancement.
Legal obligations can only be fulfilled according to the law. Still, social responsibilities are more focused on improving society by creating work opportunities for women, the physically challenged, and the impoverished.
Q4. ‘Social responsibility is a burden on consumers’ Describe this claim.
Answer. Environmental protection and pollution prevention are costly social obligations that frequently require significant financial outlays. Businesspeople transfer the expense of doing their socially responsible job onto their customers by requesting higher prices.
Q5. Discuss the guidelines enumerated by the Companies Act 2013 for Corporate Social Responsibility.
Answer. Corporate social responsibility generally refers to a company’s duties and commitments to society. Businesses with:
The Companies Act, 2013, oversees corporate social responsibility in India (under Clause 135).
You may learn more about how the Companies Act of 2013 defines CSR by reading the following suggestions:
Q6. Build up arguments for and against social responsibilities.
Answer. The following are arguments for social responsibilities:
Environmental contamination concerns are handled by organisations like the Central Pollution Control Board.
The following are arguments against social responsibilities:
Q7. Write a short note on the topic of CSR?
Answer. Every type of commercial firm must behave in a morally righteous way. However, corporate social responsibility (CSR) is a term employed explicitly concerning a firm. It may be summed up as earning financial success while upholding moral principles and considering other people, communities, and the environment. It entails resolving the demands placed on corporations by the law, morality, commerce, and other societal norms, including the requirement that they make choices and perform acts that fairly balance the interests of all stakeholders. Across the board, business operations, supply claims, and decision-making processes are linked with a complete set of CSR policies, practices, and initiatives.
Q8. What are the major areas of social responsibility of business?
Answer. An entity, whether an organisation or an individual, must act in society’s interests according to the ethical paradigm of social responsibility. Everyone has to fulfil this to preserve a balance between the economy and ecosystems.
The following are some of the central business social responsibility initiatives:
Q9. What is the environment? What is environmental pollution?
Answer. The biotic and abiotic resources within and around us make up the environment. It affects the way we live. However, due to industrialisation and rapid population development, resources have been utilised to the point of depletion or deterioration. Additionally, the region has been polluted because of toxic discharge into the ecosystem.
Pollution comes in 4 different forms:
Q10. Describe how the labour movement has helped businesses in upholding their social obligations.
Answer. The labour movement has grown significantly in strength to secure benefits for the working class globally. Due to this, companies are now required to think about the well-being of their workers rather than using a “hire and fire” strategy.
Q11. Explain the various elements of business ethics.
Answer. A few elements of business ethics are:
Q12. Discuss the forces responsible for increasing the concern of business enterprises toward social responsibility.
Answer. The following factors influence how much corporate firms care about their social responsibility:
Labour movement pressure:
Effect of consumer awareness:
The threat of public regulation:
Establishment of social standards for business:
The connection between business and social interest:
The emergence of the managerial and professional classes:
Improving business education:
Q13. Why do enterprises need to adopt pollution control measures?
Answer. A corporate company must undertake pollution control measures for the following reasons:
Q14. Briefly explain (a) Air Pollution, (b) Water Pollution, and ( c) Land Pollution.
Answer. The terms are briefly explained below:
Q15. Explain Discretionary responsibility?
Answer. Discretionary responsibility refers to the voluntary obligations met by the company.
Q16. What steps can an enterprise take to protect the environment from the dangers of pollution?
Answer. The actions that business enterprises may implement for environmental protection are:
Q17. What is business ethics? Mention the essential elements of business ethics.
Answer. Corporate ethics deals with values and rules controlling the behaviour of a person or an organisation and business actions that are viewed as pleasant from the societal standpoint. It aids managers and other workers in completing their jobs in a manner regarded as socially acceptable.
Elements of Business ethics include:
Q18. Describe the idea of “Human Rights.” Mention any human rights cases as well.
Answer. In the interests of each person, human rights guarantee equality. Human rights essentially served as a justification for action, protection, and support. Human rights emphasise the idea of humanity. All significant corporations ought to support and uphold human rights.
Cases for human rights- In our culture, human rights are highly valued. Numerous movements have also emerged to get these rights.
The following arguments are in favour of human rights in society generally and specifically in business:
Human rights and legal rights are very different from one another. There may be a legal justification for doing anything cruel, but there is no justification for committing any act of humanity. Human rights are derived independently, whereas legal rights are derived from the constitution and policies. Human standards are the foundation of human rights. Independent of any specific legal system, a set of human norms can serve as the foundation for human rights entitlement. These rights forbid engaging in cruel behaviour.
The United Nations declares the following as Human Rights:
Q19. ‘Business is essentially a social institution and not merely a profit-making activity. Explain?
Answer. Profit maximisation is a business’s primary goal. However, businesses are not solely for-profit entities. Because they were developed by society to meet the need for products, every firm uses both human and societal resources. Such social issues like unemployment and poverty influence businesses as well. Socially acceptable actions that enhance society’s image include generating employment and providing a healthy work environment, paying taxes, reducing pollution, and attending to consumer concerns. Here are a few instances that demonstrate how business is a social institution.
On the other hand, it is said that business enterprises are more than just profit-making entities for the following reasons:
Considering this, businesses must give back to society. As a result, we talk of a corporate enterprise as a social institution instead of a for-profit business.
Q20. Why are businesses accountable for protecting the environment?
Answer. The environment is defined as the entirety of a person’s surroundings, including natural and artificial elements. Resources that are advantageous to human life are also present in these settings. Resources include both natural and artificial things. Natural resources include land, water, air, flora and fauna, and raw materials. Artificial resources include things like cultural heritage, socioeconomic institutions, and people.
Discharging hazardous substances into the environment is known as pollution, and industrial activities mostly bring it on. As the environment can only absorb so many pollutants, pollution alters air, land, and water’s physical, chemical, and biological aspects. Hazardous pollutants include toxic wastes, poisonous byproducts, and substances with harmful properties that the environment cannot metabolise. As a result, pollution puts human health, natural resources, and environmental quality at peril.
A company needs many environmental resources to operate, including raw materials, timber, air, and water. Therefore, it is only fitting that the company gives something back to society and the environment by safeguarding, preserving, and conserving it.
A business is accountable for creating, sustaining, and expanding a workplace culture that supports environmental preservation and pollution prevention through the dedication of the company’s senior management.
The above-stated section of Important Questions Class 11 Business Studies Chapter 6 is a list of Important Questions covering the entire chapter.
Social Responsibility
People in business have a duty to the community known as social responsibility. Businesspeople need to consider how their choices and activities may affect the other facets of society.
Need for Social Responsibilities
Due to the following reasons, business people are expected to fulfil their social obligations:
The case against Social Responsibility
Some academics have criticised the idea of social responsibility; a few of the arguments presented below are against social responsibility:
The reality of Social Responsibility
We may infer that business is not just an economic institution but also a social institution. Business people are the trustees of various social groups after understanding the arguments in favour of and against social obligations.
The fundamental causes and influences that have compelled businesspeople to think about their obligations to society are:
Kinds of Social Responsibility
Social responsibility towards different interest groups
Responsibilities towards Consumers:
Responsibilities towards Employees:
Responsibilities towards the Owners/Shareholders/Investors:
Responsibilities towards Government:
Responsibilities towards the community:
Responsibilities towards Suppliers:
Business and Environment protection
Causes of Environmental Pollution
The following factors contribute to environmental pollution:
Need for Pollution Control
The following are the primary causes for pollution control:
Role of Business in Environmental Protection
Business people should take the following actions to control and check environmental pollution:
Business Ethics
It refers to the collection of moral principles that guide a businessperson’s actions. What is good and wrong are defined by ethics.
Elements of Business Ethics
The following are some fundamental principles of conducting business ethically:
In the above section of Important Questions Class 11 Business Studies Chapter 6 , all the critical topics covered have been discussed.
As mentioned earlier, Business Studies is a subject that requires constant reading and revising of each chapter on a regular basis. Its fundamentals are introduced in Class 11 with a more detailed explanation in Class 12. Class 11 students are advised to go through Extramarks Important Questions Class 11 Business Studies Chapter 6 . These critical questions make comprehension much easier for the students.
Following are some benefits of solving Important Questions Class 11 Business Studies Chapter 6:
Extramarks provides comprehensive learning solutions for students from Class 1 to Class 12. As reiterated earlier, Extramarks has abundant resources available on their website, along with essential questions and solutions. Students can click on the links given below to access some of these resources:
Q.1 A business is essentially a social institution and not merely a profit making activity. Do you think this statement is correct Give arguments in favour of the statement.
Marks: 6 Ans
The statement A business is essentially a social institution and not merely a profit making activity is correct and can be justified with following arguments:
i) Existence and Growth of Business : The prosperity and growth is possible only through continuous service to society. Profit motive is an important justification for a business and it is an outcome of satisfactory services to people. Therefore, satisfying the customers through social responsibility is necessary for the existence and growth of business.
ii) Avoidance of Government Intervention : Governmental intervention is undesirable for smooth running of a business as it limits the freedom of activities. If the firms voluntarily adopt social responsibility programmes, they can avoid this problem.
iii) Creating Opportunities : The business institutions have valuable financial and human resources which can be effectively used for solving problems. In this way they can convert risky situations into profitable deals, create new opportunities as well as solve social problems.
iv) Long Term Interest of Business : It is in the long term interest of the business to fulfill its social responsibility. The public image of the firm would improve when it supports social goals. If the firm fails to do so, the members of the society feel that business is not serving its best interest and they tend to withdraw their cooperation to the enterprise.
v) Creating Better Business Environment : A firm cannot do better in a society which is full of complicated problems. If the society has fewer problems, it will provide better environment for a firm to conduct its business. Therefore, it is in the interest of the business firms to take steps to minimise the problems of the society by acknowledging their responsibility towards them.
vi) Moral Obligation of Business : Most of the social problems have either been created or perpetuated by business enterprises themselves such as environmental pollution, unsafe workplaces, corruption in public institutions and discriminatory practices in employment. Hence, it becomes the moral obligation of business firms to get involved in solving these problems.
Q.2 Suggest the steps which can be taken by business organisations for environmental protection.
Following steps can be taken by business enterprises for environmental protection:
i) Commitment by Management : Top management should take the commitment to create, maintain and develop work culture to enhance environment protection. All measures should be taken to prevent any type of pollution.
ii) Involvement of All : All departments and employees should be involved in environment protection programmes. It would be helpful to achieve the desired result, if efforts are made jointly.
iii) Developing Policies : Business firms should make policies for purchasing good quality raw materials using superior technology and scientific techniques of disposal and treatment of wastes. Efforts should be made to develop employee skills for the purpose of pollution control.
iv) Complying with Laws : The business organisations must comply with the laws, acts and regulations enacted by the government for prevention of pollution. It should be the duty of all business firms to participate in government programmes relating to management of hazardous substances, clearing up of polluted rivers etc.
v) Periodical Assessment : Regular assessment of pollution control programmes in terms of cost benefit analysis should be done to ensure that they progress in the right direction.
vi) Arranging Workshops : To involve all stakeholders such as suppliers, consumers, employees etc., workshops or seminars should be organised. Through these workshops or seminars, education and training related to environment protection can be provided easily.
Q.3 Explain the basic elements of business ethics which can be taken care of while running an enterprise.
Marks: 5 Ans
The basic elements of business ethics which should be taken care of while running an enterprise are as follows:
i) Role of Top Management : To achieve good results in terms of business ethics, the top management of the firm needs to be openly and strongly committed to ethical conduct of the business. The top management must give continuous leadership for developing and upholding the values of the organisation.
ii) Involvement of Employees : Whatever the policies are framed for ethical conduct of the business, are implemented by the employees working at different levels of the organisation. Therefore, it is necessary that all employees of the firm should be involved in ethical conduct of the business.
iii) Publication of a Code : Business organisations publish a written document containing the principles of conduct for the whole organisation, called Code. This code covers the areas of honesty, product safety, fairness of selling practices etc.
iv) Compliance Mechanisms : To ensure that the conduction of business and actions comply with the ethical standards set up by the firm, it is necessary to establish appropriate mechanisms.
v) Measuring Results : It is difficult to accurately measure the results of ethical programmes. However, the firms can certainly audit to monitor compliance with ethical standards.
Q.4 Aarav works as a whole time director and legal consultant in a large manufacturing organisation. The top management decided to expand their operations and open a new unit. Aarav along with other managers decided to establish an advanced pollution control device for the new unit so that there is less possibility of damage to nearby areas and avoidance of government regulations with respect to pollution control measures. Also, workers living in nearby areas were hired and given fair amount of wages so that their standard of living can be improved.
Marks: 4 Ans
(i) Installation of pollution control unit can be categorised under Legal responsibility of a business as there are laws and measures imposed by government with respect to industrial units that can create pollution and to avoid breaking of such laws, companies install pollution control devices.
Legal responsibility is to operate business within the laws of the country and be a law abiding enterprise. A business needs to comply with the provisions of law.
(ii) The concept that involves adhering to moral practices and following fair business practices in the interest of people is known as Business ethics.
Business ethics is an act, decision or behavior that is in agreement with the prevailing norms of the society. Every business is expected to carry its operations in an ethical manner. It is different from law. Ethics means the business practices which are desirable from the point of view of the society.
Examples of business ethics will be: charging fair prices from customers, giving fair treatment to workers, earning reasonable profits etc. On the other hand, malpractices such as adulteration, hoarding, black-marketing etc. are not desirable from the point of view of the society and so are termed as unethical.
Cbse class 11 business studies important questions, chapter 1 - business, trade and commerce.
Chapter 3 - private, public and global enterprises, chapter 4 - business services, chapter 5 - emerging modes of business, chapter 7 - formation of a company, chapter 8 - sources of business finance, chapter 9 - small business, chapter 10 - internal trade, chapter 11 - international business, faqs (frequently asked questions), 1. where can a student easily find important questions class 11 business studies chapter 6.
Students can easily register with Extramarks and gain access to Important Questions Class 11 Business Studies Chapter 6 . These critical questions cover the entire chapter. Prepared by subject matter experts, these questions and their solutions are authentic and exclusive. This encourages the student to master the topic and help students achieve better grades in their examinations.
The Central Board of Secondary Education (CBSE) only suggests one Class 11 Business Studies book. As a result, this book—available in both Hindi and English—was published by the National Council of Educational Research and Training (NCERT). There are 10 chapters in this book, which are divided into two parts. Part A includes – Foundation of Business comprises six chapters while part B has Finance and Trade comprises four chapters.
Otp verification.
CBSE NCERT Solutions
NCERT and CBSE Solutions for free
Please refer to Social Responsibilities of Business and Business Ethics Class 11 Business Studies notes and questions with solutions below. These revision notes and important examination questions have been prepared based on the latest Business Studies books for Class 11 . You can go through the questions and solutions below which will help you to get better marks in your examinations.
Social Responsibility
It is very clear that no business can be survived without the support of the society, as it is run by the people, through the people and for the people. Because of the same reason it has certain responsibilities towards the society. Social responsibility refers to the obligations of the businessmen which are desirable in terms of the objectives and values of our society.
Arguments for social responsibility
1. Existence and growth – Prosperity and growth of business is possible only through rendering continuous service to society.
2. Long term interest of the firm – A firm and its image stands to gain more profits in the long run when it accepts service as the highest goal. Supporting social goals enhances public image of any firm.
3. Avoidance of government regulations – Businessman should voluntarily assume social responsibilities, so that they can avoid government regulations. Eg: Environmental pollution.
4. Maintenance of society – If the people feel that they are not getting their due from the business, they will not support such business organisations.
5. Availability of resources with business – Available resources with the business such as managerial talent and financial resource can be utilized to solve the problems of the society when it is needed.
6. Converting problems into opportunities – Business is always looking for converting risky situations to opportunities, this quality can be utilized for solving the problems in the society.
7. Better environment for doing business – A society with fewer problems and complaints provides better environment for the business.
8. Holding business responsible for social problems – Some of the social problems such as pollution, unsafe work environment, discrimination in employment etc. are created by business enterprises themselves, so that it is their moral obligation to solve them.
Arguments against social responsibility
1. Violation of objective – Business is an economic entity and it s main objective is profit maximization. If the business organizations are engaged in social activities their profit will be reduced. It will affect the success of the business. 2. Burden on consumers – It is an argument that the cost of social responsibility will be shifted to the consumers by charging higher prices. 3. Lack of social skill – It is an argument that the business people have no skill to take up social work as they are always engaged in business activities. 4. Lack of public support – Public usually do not like business interference in social programs, so that they cannot operate successfully in such areas.
Reality of Social Responsibility
1. Threat of public regulation – When business enterprises act in a socially irresponsible manner, government will act by regulating them for safeguarding public interest. 2. Pressure of labour movement – Labour movement has become very powerful now-adays,so that the businessmen are forced to protect the interest of the workers. 3. Consumer consciousness – Business enterprises have started customer oriented policies as they are aware about their rights and privileges. 4. Development of social standard for business – Newly developed social standards consider only legitimate economic activities along with serving the society. Then only the business can survive and grow. 5. Development of business education – Because of development of business education, people are aware of the social purpose of business. 6. Relationship between social interest and business interest – Businessmen have realized that social interest and business interest are not contradictory, but they are complementary to each other. 7. Development of professional managerial class – Professional management education has created a class of professional managers who have got a positive attitude towards the social responsibility as compared to the earlier class of owner managers.
Kinds of Social Responsibility 1. Economic responsibility – Since the business is an economic entity, it has to produce goods and services that society wants and sells them at a profit. 2. Legal responsibility – Business enterprises have the responsibility to operate within the laws of the country. 3. Ethical responsibility – It refers to the moral principles to be followed by the businessmen in relation to the society. Eg: Protecting religious sentiments and dignity of people while advertising a product. 4. Discretionary responsibility – This is voluntary obligation of a business enterprise. Eg; giving charity to an educational institution, helping people in natural calamities etc.
Social Responsibility towards different Interest Groups As a socio-economic institution business is always in touch with various groups such as owners, employees, customers, suppliers etc. and it has to discharge certain responsibilities as follows:
1. Owners: a. Safety of investment. b. Adequate return on investment. c. Accurate financial information should be provided.
2. Employees: a. Fair wages b. Job security c. Promotion opportunities d. Welfare measures e. Better working conditions f. Participation in management
3. Consumers: a. Regular supply of commodities. b. Better quality c. Reasonable Price d. Avoidance of unfair trade practices.
4. Suppliers: a. Better relationship b. Prompt payment.
5. Government and Community: a. Lawful business. b. Prompt payment of tax. c. Help the government in socio-economic development (employment opportunities, literacy, poverty etc.) d. Optimum use of natural resources. e. Concentrate in safety and welfare of the people. f. Control pollution as far as possible.
Business & Environmental Protection
The health and well being of people depends on the quality of environment in which they live and work. Rapid industrialization and growing traffic have caused a great damage to the environment. Pollution is the injection of harmful substances into the environment largely because of industrial production. It changes the physical, chemical and biological characteristics of air, water and land.
Causes and Types of Environment Pollution: 1. Air Pollution: It is the contamination of air by the accumulation of harmful or toxic substances which will create serious health problems to living organisms, monuments etc. 2. Water Pollution: Water is said to be polluted when it is changed in the quality as a result of waste disposal and other human activities, so that it become less suitable for drinking. 3. Land Pollution / Soil Pollution: It may be due to the dumping of non-degradable waste material into the land from industrial units, hospitals, hotels, dwelling units etc. This damages the quality of soil making it unfit for cultivation. 4. Noise / Sound Pollution: It may cause damages to the human body and mind, thesmooth functioning of hospitals, educational institutions etc. Industrial units,Automobiles etc. are the major sound pollutants.
Need for pollution control 1. Reduction of health hazards – Major diseases like cancer, heart attacks etc. are caused by pollutants in the environment. Pollution control measures only can prevent such diseases up to a certain extent. 2. Reduce risk of liability – I n case a disaster has been take place the entire liability will be borne by the enterprise. E.g. Union Carbide Tragedy in Bhopal. 3. Cost savings – Effective pollution control strategy helps to reduce cost of operating business. If they use improper technology with greater wastes leading to high waste disposal cost. 4. Public image – A business enterprise which follows good pollution control measures can enjoy a good reputation in the society and will be perceived as a socially responsible enterprise. 5. Other social benefits – It includes clear visibility, clean buildings and monuments,quality life and availability of pure natural products.
Role of business in Environmental Protection 1. Top level management should create a work culture for environmental protection and pollution control. 2. Sharing the ideas and technical information regarding environmental protection among the employees. 3. Use good quality materials. 4. Adopt modern technology. 5. Follow the rules and regulations by the government. 6. Scientific methods of waste management. 7. Support in government programs like clearing up of polluted water sources, plantation of trees, checking deforestation etc. 8. Timely assessment of pollution control programs.
BUSINESS ETHICS
The word “ethics” derived from the Greek word “ethos” which means character or sentiments of community. Ethics specifies what is good or bad, fair or unfair, right or wrong. Business ethics refers to the moral principles followed by a businessman in his dealings with the people and it involves better quality, fair price, justice, courage, thrift etc. Business ethics helps to win the confidence of customers which will ensure the prosperity and progress of the business.
Examples of ethical business practices: 1. Fair and reasonable price 2. Correct weight and measures 3. Disclose actual profit and prompt payment of tax 4. Fair treatment to the employees 5. Sale of genuine products to customers 6. Take reasonable profit 7. No bribes
Common unethical business practices are as follows: 1. Adulteration 2. Poor quality 3. Black marketing and hoarding 4. Misleading advertisements 5. Fake goods 6. Deceptive packaging 7. Pollution of environment 8. Exploitation of workers
Elements of business ethics Practicing business ethics means doing things in conformity with existing norms or standards of society. The main elements are:
1. Top management commitment – The top level managers need to be openly strong in ethical matters, so that they can guide their organization towards ethically upright behavior.
2. Publication of a “Code’ – Code means a written document which contains the moral principles to be followed by the organization. It covers the areas like honesty, adherence to laws, quality, health and safety in workplace, employment practices fairness in selling etc.
3. Establishment of compliance mechanism – A suitable mechanism should be introduced to ensure that actual decisions and practices comply with firm’s ethical standards. Eg: Paying attention to values and ethics in recruiting employees.
4. Involving employees at all levels – Involvement of employees in all the levels in ethical programs is a must, then only they can do accordingly. Eg: Conducting a group discussion among the employees in small groups to discuss the ethical policies to be followed in the firm.
5. Measuring results – The firm can monitor the actual performance with ethical standards and they can take necessary steps for further course of action.
We hope the above Social Responsibilities of Business and Business Ethics Class 11 Business Studies are useful for you. If you have any questions then post them in the comments section below. Our teachers will provide you an answer. Also refer to MCQ Questions for Class 11 Business Studies
Home » 11th Class » Class 11 Business Studies Notes for Social Responsibilities of Business and Business Ethics (PDF) – Study Material
Class 11 Business Studies Social Responsibilities of Business and Business Ethics – Get here the Notes, Question & Practice Paper of Class 11 Business Studies for topic Social Responsibilities of Business and Business Ethics Notes. Social Responsibilities of Business and Business Ethics Notes for Class 11 Business Studies are here. You can download the Social Responsibilities of Business and Business Ethics Notes PDF to study all the topics in this chapter. Moreover the class 11 Business Studies notes include chapter summary, definitions, examples, and key pointers for Social Responsibilities of Business and Business Ethics . Thus if you are studying class Business Studies (व्यवसाय अध्ययन), then the Social Responsibilities of Business and Business Ethics notes will help you easily understand the topic and ace it.
Social Responsibilities of Business and Business Ethics is a critical part in the study of Business Studies . In India, it is taught in class. Therefore the class 11 Notes for Business Studies topic Social Responsibilities of Business and Business Ethics have been compiled by teachers and field experts. They explain the complete chapter of Social Responsibilities of Business and Business Ethics in one-shot . Whether you are studying the topic Social Responsibilities of Business and Business Ethics to complete your class syllabus, or for any competitive exam like JEE , NEET , UPSC, you can simply refer these notes to complete the chapter in one-shot!
Social Responsibilities of Business and Business Ethics Notes Download Link – Click Here to Download PDF
The PDF of Social Responsibilities of Business and Business Ethics class 11 notes is as follows. You can view the document here and also download it to use it anytime for future reference whenever you want to brush up your concepts of Business Studies.
Candidates who are ambitious to qualify the Class 11 with good score can check this article for Notes, Study Material, Practice Paper. Above we provided the link to access the Notes , Important Question and Practice Paper of Class 11 Business Studies for topic Social Responsibilities of Business and Business Ethics.
Chapter wise notes for Business Studies (व्यवसाय अध्ययन) are given below.
The Social Responsibilities of Business and Business Ethics notes here help you solve the questions and answers . Also, you can complete the class 11 Social Responsibilities of Business and Business Ethics worksheet using the same. In addition you will also tackle CBSE Class 11 Business Studies Important Questions with these class 11 notes .
However if you still need help, then you can use the NCERT Solutions for Class 11 Business Studies Social Responsibilities of Business and Business Ethics to get all the answers. Social Responsibilities of Business and Business Ethics solutions contain questions, answers, and steps to solve all questions.
You can use the class 11 Business Studies notes of Social Responsibilities of Business and Business Ethics for all boards.
The education boards in India for which Social Responsibilities of Business and Business Ethics notes are relevant are – CBSE, CISCE, AHSEC, CHSE Odisha, CGBSE, HBSE, HPBOSE, PUE Karnataka, MSBSHSE, PSEB, RBSE, TBSE, UPMSP, UBSE, BIEAP, BSEB, GBSHSE, GSEB, JAC, JKBOSE, KBPE, MBOSE, MBSE, MPBSE, NBSE, DGE TN, TSBIE, COHSEM, WBCHSE .
Therefore you can refer to these notes as CBSE, CISCE, AHSEC, CHSE Odisha, CGBSE, HBSE, HPBOSE, PUE Karnataka, MSBSHSE, PSEB, RBSE, TBSE, UPMSP, UBSE, BIEAP, BSEB, GBSHSE, GSEB, JAC, JKBOSE, KBPE, MBOSE, MBSE, MPBSE, NBSE, DGE TN, TSBIE, COHSEM, WBCHSE notes for class Class 11 / Class / Business Studies for the topic Social Responsibilities of Business and Business Ethics.
To get study material, exam alerts and news, join our Whatsapp Channel .
Class 11 economics notes for consumers equilibrium and demand (pdf) – study material, related posts.
Tn 11th urdu public question paper 2024 pdf | download tamil nadu board pyqp, tn 11th textile technology public question paper 2024 pdf | download tamil nadu board pyqp, tn 11th zoology public question paper 2024 pdf | download tamil nadu board pyqp, leave a reply cancel reply, cbse board quick links.
Board exams 2023.
© 2019 aglasem.com
Subscribe now to keep reading and get access to the full archive.
Continue reading
Talk to our experts
1800-120-456-456
Important Questions for CBSE Class 11 Business Studies Chapter 6 - Social Responsibilities of Business and Ethics are present in this article. Social Responsibilities of Business and Ethics is such a chapter which is of great importance thus the students of CBSE Class 11 are advised to study this chapter with full concentration and not to miss out on these important questions and answers presented by us.
Free PDF download of Important Questions with Answers for CBSE Class 11 Business Studies Chapter 6 - Social Responsibilities of Business and Business Ethics prepared by expert Business Studies teachers from the latest edition of CBSE(NCERT) books. Register for Online tuition on Vedantu.com to score more marks in the CBSE examination.
So, what are the topics that are covered in Chapter 6 of CBSE Class 11 Business Studies? Let us check the following to find out:
Social Responsibility
Need for social responsibilities
The case against social responsibility
Reality of social responsibility
Kinds of social responsibilities
Social responsibility towards different interest groups
Business and environment pollution
Role of business in environmental protection
Business ethics
Elements of business ethics
Very short answer questions (1 or 2 marks).
1. Define social responsibility of a business?
Ans: Social responsibility is an ethical paradigm that implies that an entity, whether it is an organization or an individual, has a responsibility to behave in the best interests of the society as a whole. Every individual has a responsibility to fulfill in order to maintain a balance between the economy and the ecosystem.
2. Write two examples of business ethics?
Ans: Two examples of business ethics are law-abiding and trustworthiness.
3. State two effects of noise pollution?
Ans: Two effects of noise pollution are:
Loss of hearing
Malfunctioning of the heart due to sudden, loud noise.
4. What is environmental pollution?
Ans: The whole of man's surroundings, both natural and man-made, is characterized as the environment. These surroundings also include resources that are beneficial to human life. Natural resources, such as land, water, air, fauna and flora, and raw materials, as well as artificial resources, such as cultural heritage, socioeconomic institutions, and people, are examples of resources. Pollution, or the release of dangerous compounds into the environment, is termed as environmental pollution. It can take the form of air, water, noise and land pollution.
5. "Companies have social responsibility towards shareholders or owners' how?
Ans: The organization must offer shareholders regular, accurate, and complete information on its operations as well as it’s future growth plans. A fair and reasonable return should also be provided to the owners of the company.
6. What do you mean by Discretionary responsibility?
Ans: Discretionary responsibility basically means the voluntary responsibility fulfilled by the business.
7. Explain how the labour movement has helped companies to fulfill their social responsibility?
Ans: Labour movement for extracting gains for the working class throughout the world has become very powerful. This has compelled businesses to consider the welfare of their employees rather than adopting a "hire and fire" strategy.
8. 'Social responsibility is a burden on consumers' Describe the statement?
Ans: Social responsibilities like pollution control and environmental protection are very costly and often require huge financial investments. Instead of carrying the burden of social duty, businesspeople simply pass it to their customers by demanding higher costs.
9. 'To avoid government regulation, businessmen follow the concept of social responsibility’. How much do you agree with this statement?
Ans: I agree with this statement.
The government regulations and legal restrictions limit the freedom and autonomy of the business enterprises, the businessmen are thought to be able to escape the problem of government restrictions by voluntarily taking on social duties, hence reducing the need for new legislation.
For example, the Central Pollution Control Board takes care of issues related to environmental pollution, and if a business firm follows appropriate measures to avoid environmental pollution, then the interference of the said board could be reduced.
10. Why is social responsibility emphasized? State one need for social responsibility?
Ans: Every individual has a responsibility to fulfill in order to maintain a balance between the economy and the ecosystems. A company's image and brand can be built through being socially responsible. A corporation can establish a reputation for being not just financially successful, but also socially responsible by creating a positive image by fulfilling its responsibility towards the society.
11. Why is business responsible for Environment Protection?
Ans: The whole of man's surroundings - both natural and man-made - is characterized as the environment. These surroundings also include resources that are beneficial to human life. Natural resources, such as land, water, air, fauna and flora, and raw materials, as well as artificial resources, such as cultural heritage, socioeconomic institutions, and people, are examples of resources.
Pollution is the release of dangerous compounds into the environment, which is mostly caused by industrial activity. Pollution changes the physical, chemical, and biological characteristics of air, land, and water, as the environment can only absorb a certain quantity of pollutants. Hazardous pollutants include hazardous wastes, poisonous by-products, and compounds that have toxic qualities which the environment cannot absorb. As a result, pollution endangers environmental quality, human health, and natural and man-made resources.
A business takes abundant resources from the environment in terms of raw material, wood, air, water etc in order to run its business. Hence, it is fair enough that the business pays back to the society and the environment by protecting, preserving as well as conserving the environment.
A business is responsible through its commitment from the company's senior management to establish, maintain and grow a work culture that promotes environmental preservation and pollution prevention.
12. Enumerate any three responsibilities of business towards employees.
Ans: The following are three company responsibilities towards employees:
Provide appropriate working conditions in order to gain employee collaboration.
The company must respect the employees' democratic freedom to form unions.
A fair wage and a fair deal from management must also be guaranteed to the employee.
13. Why should a business assume social responsibility?
Ans : The businesses should assume social responsibility because:
Improving Companies Brand:
A company's image and brand can be built through being socially responsible.
A corporation can establish a reputation for being not just financially successful but also socially aware by creating a positive image.
Engaging Customer
A social responsibility policy can impact the buying decision of the customers.
Some buyers are ready to pay a higher price for a product if they know that a percentage of the proceeds will go to a good cause.
Retaining Top Talent
Many employees want to feel like they are a part of something bigger.
Social responsibility and powers employees to leverage the corporate resources at their disposal to do good.
Helping Company Stand Out of Competition
Companies that are involved in the community stand out from the crowd.
Improving the brand's image by cultivating relationships with customers and their communities.
14. Explain the major cause of environmental pollution.
Ans: The major causes of environmental pollution are:
Air Pollution:
It is primarily due to automotive emissions of carbon monoxide, which contribute to air pollution. Similarly, manufacturing plants damage the air with smoke and other toxins.
As a result of the pollution, a hole in the ozone layer has been formed, thus leading to severe global warming.
Water Pollution
Chemical and garbage disposal are the primary causes of water pollution.
Water contamination has killed a number of animals and is a severe threat to human life.
Land Pollution
Land pollution occurs when harmful waste is dumped on it.
This degrades the land's quality, rendering it unsuitable for cultivation or plantation.
Noise Pollution
Noise pollution from industry and cars is not only an irritation, but also a major health threat.
Noise pollution has been linked to a variety of illnesses, including hearing loss, heart failure, and mental illness.
15. Define business ethics and explain its significance?
Ans: Ethics are concerned with what is right and what is wrong in human behavior judged on the basis of a standard form of conduct/behavior of individuals, as approved by the society in a particular field of activity. The relationship between company objectives, procedures, and processes and the society welfare is the subject of business ethics.
The moral principles, and the socially defined behaviour which governs a business and its activities is referred to as business ethics. Ethical business is a good business. Ethical business behavior improves public image, earns people's confidence, and leads to greater success.
Business Ethics is important due to the following points:
It helps to establish a company's image and brand.
It has an impact on clients' purchasing decisions.
Employees believe they are a part of a trustworthy and ethical company.
It helps to have an edge in a competitive market.
16. LMN Ltd. is filing its income tax returns on time. They are also updating their shareholders about their projects and providing for return to them. Towards which interest group are they fulfilling their responsibility? Which values are being followed by the Co.?
Ans: They are fulfilling their responsibilities towards the shareholders, owners, and the government.
An organization must offer regular, accurate, and complete information to its shareholders regarding its operations as well as future growth plans. The job of the commercial enterprise is to offer a fair return to the shareholders or owners. An organization must adhere to the country's rules and pay taxes to the government on a timely and accurate basis.
The following are the values that the company adheres to:
Legal Responsibility: Every business has a legal obligation to follow the laws of the state, as the business who follows the legal aspects of the country is said to be a socially responsible business. By paying the tax returns on time, the business is fulfilling its legal responsibilities.
Ethical Values: The company offers regular updated information to its shareholders, along with consistent returns. Hence, it is following the ethical values of fairness, transparency etc.
17. A B C Ltd. deals in health drinks. It is found that there are components of pesticides in their drinks. Mention which 2 kinds of responsibilities and 2 values are missing from this approach.
Ans: Two Kinds of Responsibility missing from the company’s approach are as follows:
Ethical Responsibility: Socially acceptable behavior that is not prescribed in law. There is an involvement of voluntary action in performing this responsibility
Legal Responsibility: Every business has a legal obligation to follow the laws of the state, as the business who follows the legal aspects of the country is said to be a socially responsible business.
Two Kinds of values missing from the company’s approach are as follows:
Social Value: When a company's primary purpose is "service to society," it and its image stand to profit the most in the long run. If a company performs its social obligation, it benefits itself. The public image of any firm would also be improved when it supports social goals which are missing in the company, as the company failed to provide service to society by providing them with safe and healthy health drinks.
Honesty and Transparency: The company claims its products to be ‘health’ drinks, despite the fact that it has pesticides and chemicals in it, which could jeopardize the health of the consumers. The company sure lacks the essence of honesty and transparency in its values.
18. XYZ Co. is providing facilities for their female staff like day care centres for kids and work from home facilities. By doing this they are following social responsibilities towards which interest group? Also, what values are they presenting?
Ans: They are following social responsibility towards the staff or employee group. The right kind of working conditions to be given so that it can win the cooperation of staff. The company is providing work from home opportunities to female staff, along with day care facilities, hence the company is being empathetic towards its staff, and treating them with dignity and respect.
In the above case, the company us showcasing the the following values:
Social Values : By treating the female staff with dignity and respect, and providing for the day care facilities and work from home opportunity, the company is showcasing the social values of cooperation, understandability, empathy etc.
Also, the values of autonomy and freedom are also showcased towards women. As mothers and professionals at the same time, the woman feels more empowered and autonomous to work and continue their professional careers without worrying about their children.
19. Explain the forces which are responsible for increasing concern of business enterprises towards social responsibility.
Ans: The forces are as follows:
The Interests of Stakeholders:
To get the support of employees, it has become necessary for organizations to discharge its possibility towards their employees.
Also, the customer does not purchase what is being provided to him, he buys what he wants. As a result of consumer sovereignty, firms have been pushed to take social responsiveness toward them, as satisfying social commitments is good for the enterprises' long-term survival.
Long-Run Survival:
When the firm's primary purpose is to serve society, the firm and its image stand to gain the most benefit in the long term.
If a company performs its social obligation, it benefits itself.
When a company promotes social aims, its public image improves, which further leads to long term survival and success of the business.
Self-Enlightenment:
With increase in the level of education and understanding of businesses that they are the creations of the society, they are motivated to work for the cause of social good.
Rather than legislative interference being the cause of social responsibility, firms have human social responsibility on their own.
Government Regulation:
Businessmen are said to be able to avoid government regulation by voluntarily taking on social duties, which helps to lessen the need for new legislation.
The Central Pollution Control Board, for example, is in charge of environmental pollution issues, and in case the company does not adhere to the norms of this board, the board can take serious consequences against it.
There are abundant resources available with the organizations that hold the power to partly solve the social problems.
Businesses are dependent on society and its resources in indescribable ways, hence it is fair enough that it pays back the society both economically and socially.
Business Responsible for Social Problems:
Businesses have either generated or perpetuated social problems, hence it has a moral obligation to get involved in tackling these challenges rather than relying on other social institutions to do so.
Pressure of Labour Movement:
The labour movement has grown in strength around the world in order to obtain gains for the working class.
This has compelled businesses to consider the welfare of their employees rather than pursuing a "hire and fire" policy.
Impact of Consumer Consciousness:
Development of education and Mass media and increasing competition in the market has made the consumer conscious of his right and power in determining market forces.
Now, the customer is the king and is much aware of his rights, hence the businesses have started following a customer oriented approach, to keep them happy and satisfied.
Development of Social Standard for Business:
Various social standards have been set for business in terms of its responsibilities towards various interest groups, hence it becomes crucial for the firms to adhere to these social standards and contribute to the society in order to ensure its long run survival.
There is no way to run a business without interacting with the rest of the world.
Relationship between social interest and business interest:
Companies have begun to recognize that social and business goals are not mutually exclusive. They are, instead, complementary to one another.
The long-term benefit of business is in providing good service to society.
Development of Professional, Managerial Class:
Professional managers are more concerned in fulfilling a variety of interest groups in society when it comes to running their business than simply making a profit.
20. It is in the interest of business to fulfill its social responsibilities towards different interest groups. Explain?
Ans: The responsibilities that the businesses are supposed to fulfill in the interest of different interest groups are:
Responsibility towards the Shareholders or Owners:
Shareholders must also be given regular, accurate, and complete information about the company's operations and growth plans.
The responsibility of a business enterprise is to provide a profit to its shareholders or owners.
Responsibility towards the Workers:
The right kind of working condition to be given so that it can win the cooperation of the workers.
The company must respect the workers' democratic freedom to form unions.
The worker must also be assured of a fair wage and a fair deal from the management.
Responsibility towards the Consumers:
The obligation of an organization towards its customers is to provide the correct quality and quantity of goods and services to consumers at fair pricing.
Adulteration, poor quality, a lack of required services and civility to consumers, misleading and dishonest advertising, and so on must all be avoided by the business.
Responsibility towards the Government and Community:
An organization must follow the rules of the country and pay taxes on a timely and accurate basis.
It must act like a good citizen and adhere to the society's widely accepted values.
21. MNO Ltd., A renowned computer company follows the vision of "reaching new heights with its people on its side"', It not only provides quality products but also provides various facilities to its employees for 5 years of service. It also provides computer skills to youth in remote areas for free.
(a) What according to you are the business ethics of the company?
Ans: Ethics is concerned with what is right and what is wrong in human behaviour judged on the basis of a standard form of conduct/behavior of individuals, as approved by society in a particular field of activity. The relationship between company objectives, procedures, and processes and the good of society is the subject of business ethics. The socially decided moral norms that should regulate company activity are referred to as business ethics. Ethical business is good business. For example honesty, transparency, social welfare, integrity etc.
(b) Is it fulfilling its social responsibilities towards which interest groups?
Ans: It is fulfilling social responsibility towards its customers, employees and society.
Customers: The company provides quality products to its customers.
Employees: It provides various facilities to their employees for their 5 years service.
Society/ Community: The company is also providing computer skills to youth in remote areas free of cost, which in turn will lead to skilled India, and make the youth capable of finding a suitable job for themselves. Also, due to this, the growth in rural areas would be made possible.
22. There is a group discussion taking place in class XI regarding social responsibility of business' Ravi feels that a business should be socially responsible towards the society it exists in while shama is against it as the basic objective of a business is to earn projects. Whom do you think you will favour? Write points with respect to your opinion.
Ans: I will favour Ravi. Social responsibility is important for the success of the business. The following points highlights the importance of social responsibility:
Protect the Interests of Stakeholders:
The customer does not purchase what is being provided to him, he buys what he wants. Hence, as a result of consumer sovereignty, firms have been pushed to take social responsiveness toward them, as satisfying social commitments is good for the enterprises' long-term survival.
When a company promotes social aims, its public image improves as well, which further leads to the long term survival and success of the business.
Avoids Government Regulation:
Government regulations are unwelcome because they stifle individual liberty.
For example, the Central Pollution Control Board takes care of issues related to environmental pollution, and if a business firm follows appropriate measures to avoid environmental pollution, then the interference of the said board could be reduced.
Given the vast financial and personnel resources at its disposal, it can assist society in better addressing its challenge.
Professionalization and Better Environment:
Businesses are becoming more socially oriented as management becomes more professional.
The ethics of profession by and manager to social values and growing concern for society.
A society with fewer problems provides a better environment for a firm to conduct its business.
Business businesses have either generated or perpetuated social problems.
Business has a moral obligation to get involved in tackling these challenges rather than relying on other social institutions to do so.
Converting Problems into Opportunities:
Business with its history of converting risky situations into two profitable deals, can not only solve social problems but it can also make them effectively useful by accepting the challenge.
Resource Utilisation:
Businesses have abundant financial, managerial, technical resources. Hence, these resources can be put to use into solving various social challenges and issues.
23. State the factors against social responsibility?
Ans: The factors against social responsibility are:
Violation of Profit Maximization Objective:
Business exists mainly for profit maximization. Hence social responsibility is somewhat contradictory to the primary objective of profit maximization.
Profit maximization through higher efficiency and lower costs is the best way for business to fulfil its social obligation.
Burden on Consumers:
Pollution control and environmental protection, like social responsibility, are very expensive and frequently necessitate financial commitment.
Instead than bearing the burden of social responsibility, they simply pass it to the consumer by demanding a greater price.
Lack of Social Skills:
Businesspeople lack the essential knowledge and training to solve social issues.
Other specialized agencies should deal with social issues.
Lack of Broad Public Support:
Business engagement or meddling in social programmes is disliked by the general public.
As a result, businesses are unable to thrive due to a lack of public trust in collaborative efforts to solve societal problems.
24. Describe the role of social responsibility in today's era?
Ans: The role of social responsibility is explained in the following points:
Threat to Public Regulation:
Action is taken to regulate business entities that operate in a socially irresponsible manner in order to protect the interests of the public.
One of the main reasons why businesses are concerned about social responsibility is the fear of government regulation.
Hence social responsibility plays an important role in protecting the interests of the public, and avoiding any threat from them as well as the government.
Development of Business Education:
More and more individuals are becoming aware of the social purpose of business as a result of its rich content on social responsibility.
Relationship between Social Interest and Business Interest:
Professional management education at universities and specialized management schools has resulted in the formation of a distinct class of professionals.
25. What is the need to control pollution and how should businesses contribute to environmental protection?
Ans: The need for Pollution Control is:
To Reduce Health Risks: There is mounting evidence that pollution in the environment causes various diseases such as cancer, heart attacks, and lung difficulties. Hence, there is an urgent need to control pollution.
To Reduce Risk of Liability: It is conceivable for a company to be held accountable for compensating people who have been harmed by the toxicity of gaseous, liquid, or solid pollutants it has released into the environment.
Cost Savings: Faulty manufacturing technology produces more trash, resulting in higher waste disposal and facility cleaning costs. Therefore steps to control pollution will ultimately help the firms to save their costs and expenses.
Improved Public Image: A company that advocates for environmental causes will have a positive reputation and be seen as a socially responsible business.
Other Social Benefits: Controlling pollution has a number of other advantages, including improved visibility, cleaner buildings, a higher quality of life, and the availability of natural resources in their purest form.
Role of Business in Environment Protection:
Organizational Commitment: It shows the commitment an organization has towards the environment of which it is a part. The firm’s commitment can be seen by the company's senior management building, maintaining, and developing a work culture that promotes environmental protection and pollution prevention. Assuring that the company's commitment to environmental preservation is shared by all divisions and workers.
Policies and Programmes: Through the formulation of defined policies and programmes for acquiring high-quality raw materials, using advanced technology, employing scientific waste disposal, treatment procedures, and improving employee skills, the firm can contribute in environment protection and conservation.
Rules and Regulations: Adherence to the government's pollution-prevention rules and regulations is another way a firm can fulfil its role towards environment preservation.
Participation: The firm's participation in government programmes aimed at preventing deforestation, managing dangerous substances, cleaning up dirty waterways, and planting trees also leads to environmental protection and conservation.
Evaluation: The firms conduct periodic evaluation of pollution control programmes in terms of costs and benefits so as to improve environmental protection efforts.
Organizing Workshops: The firm’s efforts into organizing educational workshops and training materials to share technical knowledge and expertise with suppliers, dealers, and customers also contributes towards pollution control programmes.
Students are required to study these important questions and answers of CBSE Class 11 Business Studies Chapter 6 - Social Responsibilities of Business and Ethics in order to enjoy the following benefits:
The important questions and answers will help the students to study the concepts which are of utmost importance and thus chances of appearing in the question paper in the Business studies exam is maximum.
Students can know the important concepts and portions from the chapter - Social Responsibilities of Business and Ethics by knowing the important questions from this chapter.
Along with the important questions, the answers related to each question are also given. This will help the students to find and check the correct answers.
The students can use this study material before the examination day if they want to study only the important topics from the specific chapter.
With the help of these important questions and answers the students will understand what type of questions might appear in the exam. They get familiar with the question types.
The students will also be confident once they study the important questions and answers from this chapter, as questions beyond this will be quite easy or will not appear in the exam at all.
Solve the following questions for your further practice:
1. What are the basic elements of business ethics?
Ans. The basic elements of business ethics are as follows:
Commitment from Top Management
Formation of a “code”
Establishing a compliance mechanism.
Involving employees at all levels.
Measuring results
2. What are the 4 types of pollution?
Ans. The four types of pollution are:
Soil Pollution
Air Pollution
Students are advised to check on this tips list which might help you in improving your scores of Business Studies:
Business Studies is a theoretical subject which must be first understood and then prepared by writing questions and answers.
Students are required to solve the exercise questions as well at the end of each chapter.
Students should also follow the NCERT study material in order to get a complete overview of the examination paper.
The chapters of Business Studies can be better understood after the students had prepared the HOTS (High Order Thinking Skills) questions.
Check up with the previous years questions in order to have confidence in the exam hall.
The compilation of important questions for CBSE Class 11 Business Studies Chapter 6 - "Social Responsibilities of Business and Ethics" is a significant asset for students. These thoughtfully selected questions cover essential topics related to ethical business practices and corporate social responsibility, offering a focused approach to exam preparation. They enable students to assess their understanding, identify key concepts, and reinforce their knowledge in this crucial aspect of the business world. Vedantu’s important questions not only align with the examination pattern but also emphasize the importance of ethical considerations and social responsibility, preparing students not just for academic success but also for responsible and ethical decision-making in their future business endeavors. Overall, they are an indispensable resource for Class 11 Business Studies students.
1. What are the responsibilities of a business towards employees?
Training, promotion, proper selection, fair compensation, safety, health, worker education, comfortable working conditions, participatory management, and so on are all examples of a company's responsibility to its employees. When making decisions that influence the employees' interests, they should be trusted. Apart from these the companies also have social responsibilities to adhere to. As part of their social responsibilities, managers must examine if their actions are likely to promote the public good, advance the core principles of our society, and help maintain and strengthen its harmony.
2. What are the major areas of social responsibility of business?
Social responsibilities are often divided into three categories. They are environmental, charitable and moral responsibilities. To be environmentally responsible is to act in a manner as ecologically beneficial as possible. An organization's ethical obligation is to operate in a fair and ethical way. As a result of philanthropic duty, a company's goal is to actively improve the world and society. An organization's commitment to do well in the areas outlined above should be the basis for all of its financial decisions. For a more detailed explanation of this chapter, visit Vedantu.
3. What are business ethics?
The collection of moral standards that govern how firms function, how business decisions are made, and how people are treated is defined as business ethics. When moral standards are used by a corporation to determine how best to treat its workers, shareholders, and customers, this is an example of business ethics. To be ethical in the business world, one must adhere to acceptable corporate principles and procedures while dealing with difficult issues such as corporate governance, bribery, racism, social responsibility, and so on.
4. Is it a must for a business to be socially responsible?
Yes, it indeed is. Being a socially responsible business can help enhance the reputation of any company or brand. Employees with a sense of social responsibility can use the business resources at their disposal to accomplish good. Formal corporate social responsibility initiatives can improve employee morale and increase workplace efficiency. Hence, being socially responsible is very crucial for any business firm or company and it requires a certain moral code to assert its will to abide by them and to be true to their creed.
5. How can I download the PDF of Solutions of Class 11 Business Studies Chapter 6?
The solutions are easily available on the Vedantu site.
Visit the page NCERT Solutions for Class 11 Business Studies Chapter 6.
The webpage with Vedantu’s Solutions for Class 11 Business Studies Chapter 6 will open.
To download this, click on the Download PDF button and you can view the solutions offline.
You can also access different modules and address your other queries or doubts with the experts of Vedantu.
Cbse study materials.
Ncert solutions for class 11th: ch 6 social responsibilities of business and business ethics business studies, contact form.
COMMENTS
This chapter is a brief introduction to the concept of NCERT Solutions for Class 11 Business Studies Chapter 6 - Social Responsibilities of Business and Business Ethics. Download the PDF of NCERT Solutions for Class 11 Business Studies Chapter 6 - Social Responsibilities of Business and Business Ethics. Download PDF. carouselExampleControls111
QB365 provides a detailed and simple solution for every Possible Case Study Questions in Class 11 Business Studies Subject - Social Responsibilities of Business and Business Ethics, CBSE. It will help Students to get more practice questions, Students can Practice these question papers in addition to score best marks.
CBSE Class 11 Business Studies Revision Notes Chapter 6 Social Responsibilities of Business and Business Ethics. CONCEPT OF SOCIAL, RESPONSIBILITY: A business is a part of society. So, a business enterprise should do business and earn money in ways that fulfill the aspirations of the society. Thus social responsibility relates to the voluntary ...
Explain social responsibility of a business towards different interest groups. Answer: Social responsibility of government towards different groups is explained below: Shareholders or investors: Social responsibility of business towards its shareholders or investors is most important of all other obligations.
Vedantu's revision notes in PDF format for CBSE Class 11 Business Studies Chapter 6 - "Social Responsibility of Business and Business Ethics" is an invaluable resource for students. These notes offer a condensed yet comprehensive overview of the critical concepts, principles, and practices related to business ethics and social responsibility.
CBSE Class 11 Business Studies Revision Notes Chapter 6 Social Responsibility of Business and Business Ethics are one of the most important tools in study material that students can get as it will aid them to study properly and reduce any stress that they face during the academic year before.
In this sense, social responsibility . is broader than legal responsibility of business. Legal responsibility may be fulfilled by mere compliance with the law. Social responsibility is more than that. It is a firm's recognition of social obligations even though not covered by law, along with the obligations laid down by law. In other
Learn CBSE Business Studies Index Terms for Class 11, Chapter 6 Including Definitions and Meanings. 1. Social Responsibility - Social responsibility is a moral obligation on a company or an individual to make decisions or actions that is in favour and useful to society. Social responsibility in business is commonly known as Corporate Social ...
NCERT Class 11 Business Studies Chapter 6 Social Responsibility and Business Ethics is an essential chapter for students to understand the concept of social responsibility, business ethics, business, environmental protection, and more in a better way.
Concepts covered in Class 11 Business Studies chapter 6 Social Responsibilities of Business and Business Ethics are Concept of Social Responsibility, Case of Social Responsibility, Meaning of Environment Protection and Business, Role of Environment Protection and Business, Concept of Business Ethics, Elements of Business Ethics, Introduction to ...
Social Responsibilities of Business and Business Ethics Class 11 Notes: Central Board of Secondary Education (CBSE) has altered its syllabus for the current academic session 2023-2024.As a process ...
In this chapter, we will discuss on social responsibilities of business and business ethics class 11 notes. We will begin with the explanation of the concept of social responsibility. Then, we will understand the need for social responsibility. Also, we will discuss the arguments for and against social responsibility.
Class XI Business Studies Chapter 6 Social Responsibilities of Business and Business Ethics Revision Notes Social Responsibility • Social responsibility is an ethical framework and suggests that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large. Social
Given below are a few Important Questions from Class 11 Business Studies Chapter 6 and their solutions:. Q1. State the meaning of Corporate Social Responsibility as per the Companies Act 2013. Answer. Corporate social responsibility refers to the obligation businesses have to play in achieving social development goals and maintaining a balance between environmental preservation, social ...
Arguments for social responsibility. 1. Existence and growth - Prosperity and growth of business is possible only through rendering continuous service to society. 2. Long term interest of the firm - A firm and its image stands to gain more profits in the long run when it accepts service as the highest goal.
Class 11 Business Studies Chapter 6 Social Responsibilities of Business and Business Ethics. Social Responsibilities of Business and Business Ethics creates awareness amongst companies about the social responsibilities of trade. The concept explains different aspects of social responsibility of business, arguments for social responsibility ...
Social Responsibilities of Business and Business Ethics is a critical part in the study of Business Studies.In India, it is taught in class. Therefore the class 11 Notes for Business Studies topic Social Responsibilities of Business and Business Ethics have been compiled by teachers and field experts. They explain the complete chapter of Social Responsibilities of Business and Business Ethics ...
NCERT Solutions for Class 11 Business Studies Chapter 6 - Social Responsibilities of Business and Business Ethics 7. Discuss the guidelines enumerated by the Companies Act 2013 for Corporate Social Responsibility. Corporate social responsibility is the role that companies need to perform so as to meet the
CBSE Class 11 Business Studies Chapter 6 - Social Responsibilities of Business and Ethics - Topics Covered . So, what are the topics that are covered in Chapter 6 of CBSE Class 11 Business Studies? Let us check the following to find out: Social Responsibility. Need for social responsibilities. The case against social responsibility
1. Social responsibility is. 2. If business is to operate in a society which is full of diverse and complicated problems, it may have. 3. Business people have the skills to solve. 4. That an enterprise must behave as a good citizen is an example of its responsibilities towards. 5.
CBSE Class 11 Business Studies Chapter - 6 Important Questions. QUESTION 1. Explain the social responsibility of business. Answer: Social Responsibility of a business can be defined as an activity or a responsibility that a business carries up and beyond the legal requirement of business for the good and well-being of the society. QUESTION 2.
Free CBSE Business Studies Multiple Choice Questions for Class 11 along with answers, Chapter 6: Social Responsibilities of Business and Business Ethics. Business Studies MCQs for Class 11 chapter-wise with answers are prepared based on the current exam pattern. Students can tackle MCQs with answers to realise their spadework level. 1.