\nMatch column A with columns B and C
\n
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\nAnswer:
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<\/p>\nQuestion 1.
\nIdentify which of the following is not a social responsibility of business _________
\n1. Offering goods and services at reasonable price.
\n2. Keeping environment pollution free
\n3. Giving reasonable pay to workers
\n4. Help in nation building activities
\nAnswer:
\n3. Giving reasonable pay to workers<\/p>\n
Question 2.
\nState Bank of India gives scholarship to bright students each year. This is a part of their __________
\n1. Sales promotion
\n2. Social responsibility
\n3. Charity work
\n4. Business ethics
\nAnswer:
\n2. Social responsibility<\/p>\n
Question 3.
\nApplication of general ethics and principles in business practice is ____________
\nAnswer:
\nBusiness ethics<\/p>\n
Question 4.
\nIt is the belief in what is right, proper and just. Identify it.
\nAnswer:
\nBusiness ethics<\/p>\n
Question 5.
\n______________ is the code of conduct followed and performed by businessmen.
\nAnswer:
\nBusiness ethics<\/p>\n
Question 6.
\nWhich among the following is not a case for an ethical activity.
\n1. child labour
\n2. equal pay for equal work
\n3. dumbing of waste in river
\n4. high usage of preservatives in products.
\nAnswer:
\n2. Equal pay for equal work<\/p>\n
Question 1.
\nRoy and Rejitha joined in a factory as peons on the same day. Both of them are doing 8 hrs work a day. Roy is paid \u20b9100 while Rejitha \u20b980 per day. Do you think the owner of the factory is fair to Rejitha? If not, give your opinion. (2)
\nAnswer:
\nNo. The owner of the factory is not fair to Rejitha. It is the social and moral responsibility of the business to offer equal pay for equal work without considering any caste, sex, etc.<\/p>\n
Question 2.
\nExplain the need for pollution control. (2)
\nAnswer:
\nNeed for Pollution Control:<\/p>\n
1. Reduction of health hazard:
\nPollution control measures can check diseases like cancer, heart attack & lung complications and support a healthy life on earth.<\/p>\n
2. Reduced Risk of Liability:
\nIt is a sound business policy to install pollution control devices in its premises to reduce the risk of liability of paying compensation to the affected people.<\/p>\n
3. Cost Saving:
\nAn effective pollution control programme is needed to save costs of operating business.<\/p>\n
4. Improved Public Image:
\nA firm that adopts pollution control measures enjoys a good reputation as a socially responsible enterprise.<\/p>\n
5. Other social benefits:
\nPollution control results in many other benefits like clearer visibility, cleaner buildings, better quality of life, and the availability of natural products in a purer form.<\/p>\n
Question 1.
\nGeorge is working in the manufacturing industry. The manager compels him to do 10hrs work continuously without giving any additional benefits. Do you agree with the manager? Give your suggestions. (3)
\nAnswer:
\nNo. We cannot agree with the decision of the manager. It is against the social responsibility of the business. George has to work only 8 hours a day. Compelling to do 10 (without any additional benefits) hours is a violation of human right. Managers cannot ask a worker to do work continuously without giving remuneration. It is also a violation of human rights.<\/p>\n
Question 1.
\nMatch column A with columns B and C
\n
\nAnswer:
\n<\/p>\n
Question 2.
\nJaleel, owner of a fish stall, usually sells damaged and decayed fish by pouring chemicals, ice, along with sea sand for creating an impression in the minds of consumers that it is newly caught. Is it justifiable from the point of view of business ethics? How will it affect the reputation of the business? (4)
\nAnswer:
\nBusiness ethics refer to the socially determined moral principles which should govern business activities.
\nA few examples of business ethics are<\/p>\n
Ethical business behaviour improves public image, earns people\u2019s confidence and trust, and leads to greater success. Selling damaged and decayed fish is unethical.<\/p>\n
It will affect the reputation of the business and finally it leads to business loss. He must not goods of low quality for personal gain. No business can make progress without adopting ethical values.<\/p>\n
Question 1.
\nAnchu, a stationery dealer distributed good quality products at a low price by suffering huge losses, in order to eliminate the competition from Chinju, another stationery dealer, in the same locality. When Chinju stopped her business, Anchu started to supply low-quality products at high prices. (5)<\/p>\n
Answer:
\n1. No. We cannot justify Anchu\u2019s action. It is against business ethics. Business ethics refers to moral values that should be followed in business activities.<\/p>\n
2. Examples of unethical practices are<\/p>\n
Question 1.
\nWhat steps can an enterprise take to protect the environment from the dangers of pollution? (6)
\nAnswer:
\nRole of Business in Environmental Protection:<\/p>\n
1. A definite commitment by top management to create a work culture for environmental protection<\/p>\n
2. Ensuring that commitment of environmental protection is shared throughout the enterprise by all divisions and employees.<\/p>\n
3. Developing clear cut policies and programmes for purchasing good quality raw materials, introducing superior technology, using scientific techniques of disposal of waste and developing employee skills for pollution control<\/p>\n
4. Complying with the laws and regulations enacted by the Government for prevention of pollution.<\/p>\n
5. Participation in government programs relating to management of hazardous substances, cleaning up of polluted rivers, plantation of trees, and checking deforestation.<\/p>\n
6. Periodical assessment of pollution control programmes in terms of costs and benefits with a view to improve them.<\/p>\n
7. Arranging educational workshops and training materials to share technical information with everyone involved in pollution control.<\/p>\n
Question 2.
\nExplain the elements of business ethics. (6)
\nAnswer:
\nBusiness Ethics:
\nEthics is concerned with what is right and what is wrong in human behavior. Business ethics refer to the socially determined moral principles which should govern business activities.<\/p>\n
Business ethics is the code of conduct followed and performed by every business. Ethical business behavior improves public image earn\u2019s public confidence and leads to greater success.
\nExamples of Business Ethics:<\/p>\n
Elements of Business Ethics:<\/p>\n
1. Top management commitment:
\nThe Chief Executive Officer and higher-level managers must give continuous leadership for developing and upholding the moral values of the organisation.<\/p>\n
2. Publication of a Code:
\n\u2018Code\u2019 refers to a formal written document of the principles, values and standards that guide a firm\u2019s actions. It may cover the areas of fundamental honesty and adherence to laws, product safety and quality, health and safety in the workplace, etc.<\/p>\n
3. Establishment of Compliance Mechanism:
\nA suitable mechanism should be developed to comply with the ethical standards of the enterprise.<\/p>\n
4. Employees Involvement:
\nTo make the ethical business a reality, employees at all levels must be involved.<\/p>\n
5. Measuring Results:
\nEthical results must be verified and audited how far work is being carried according to ethical standards.<\/p>\n
Question 1.
\nBuild up arguments for and against social responsibilities. (8)
\nAnswer:
\nArguments in favour of Social Responsibility:<\/p>\n
1. Justification for Existence and Growth:
\nThe prosperity and growth of business is possible only through continuous service to society.<\/p>\n
2. Long term Interest of the firm:
\nA firm can improve its image and builds goodwill in the long run when its highest goal is to serve the society.<\/p>\n
3. Avoidance of government regulations:
\nBusiness can avoid the problem of government regulations by voluntarily assuming social responsibilities.<\/p>\n
4. Maintenance of society:
\nLaw alone can’t help out people with all the difficulties they face. A socially responsible business can contribute something for social peace and harmony.<\/p>\n
5. Availability of resources with business:
\nBusiness has valuable financial and human resources which can be effectively used for solving problems of the society.<\/p>\n
6. Better environment for doing business:
\nSocial responsibility creates better environment for business operations as it improves quality of life and standard of living of the people.<\/p>\n
7. Contribution to social problems:
\nSome of the social problems have been created by business firms themselves such as pollution, unsafe workplaces, discrimination, etc. Therefore, it is the moral obligation of business to solve such social problems.<\/p>\n
Arguments Against Social Responsibility:<\/p>\n
1. Violation of profit maximization objective:
\nAccording to this argument, business exists only for the maximum profit to its shareholders and do not have a responsibility to society as a whole.<\/p>\n
2. Burden on consumers:
\nInvolvement of business in social responsibilities involve a lot of expenditure which will ultimately be borne by the customers.<\/p>\n
3. Lack of Social Skills:
\nThe business firms and managers are not expert to tackle social problems like poverty, overpopulation etc.<\/p>\n
4. Lack of public support:
\nBusiness cannot fulfill social responsibility because of lack of public confidence & cooperation.<\/p>\n
Question 2. OR<\/strong><\/p>\n \u201cBusiness is a social institution having responsibilities towards different interest group.\u201d Do you agree. Explain the responsibility towards each group. 1. Responsibility towards share holders or owners:<\/p>\n 2. Responsibility Towards the workers:<\/p>\n 3. Responsibility toward consumers:<\/p>\n 4. Responsibility Towards Government:<\/p>\n 5. Responsibility towards community:<\/p>\n Question 3. Answer: Business & Environmental Protection Causes of Pollution: Many industrial organisations have been responsible for causing air, water, land and noise pollution.<\/p>\n 1. Air Pollution: 2. Water pollution: 3. Land Pollution: 4. Noise Pollution: Question 4.
\nMr. Biju, a readymade garment manufacturer, is of the view that \u201cdifferent interest groups always claim some sort of protection from the business as such. These interest groups, no doubt consist of persons connected with business in one way or other, such as shareholders, employees, society and so on\u201d. Do you agree with this statement? Explain. (8)\u00a0<\/strong><\/p>\n
\nAnswer:
\nSocial Responsibility towards different interest groups<\/strong><\/p>\n\n
\n
\nunions.<\/li>\n<\/ol>\n\n
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\n
\nProsperity and higher living standards are the hallmarks of industrial development for any nation. But during this course, it equally causes damages to the environment. (8)<\/p>\n\n
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<\/p>\n
\nAir pollution is mainly due to Carbon monoxide emitted by automobiles and smoke and other chemicals from manufacturing plants. It has created a hole in the ozone layer leading to global warming.<\/p>\n
\nWater becomes polluted primarily from chemical and waste dumping. It has led to the death of several animals and posed a serious problem to human life.<\/p>\n
\nDumping of toxic wastes reduces the quality of land and making it unfit for agriculture or plantation.<\/p>\n
\nNoise caused by the running of factories and vehicles create a serious health hazard such as loss of hearing, malfunctioning of the heart and mental disorders.<\/p>\n
\nExplain the role of business in environmental protection. (8)
\nAnswer:
\nRole of Business in Environmental Protection:<\/p>\n