chapter 6

Question 1

social responsibility

Answer 1

Social responsibility relates to the voluntary efforts on the part of businessmen to contribute to the social well being.

Question 2

reasons for social responsibilities

Answer 2

1. self interest
2. better environment for business
   3.public image
3. avoidance of government interference
4. social power
5. resources used for moral justification
6. contribution to social problems.

Question 3

responsibility of business towards consumer

Answer 3

1. production of safe items by maintaining quality standards
2. to ensure regular supply of goods and services
3. to educate customers regarding the use and contents of product
4. being truthful in advertising.
5. to follow fair trade practices
6. to handle consumer complaints and grievances quickly
7. to design and develop the product keeping in mind the needs and requirements of the customers

Question 4

responsibility of business towards employees

Answer 4

1. providing fair compensation and benefits
2. provide good and safe working conditions
3. providing opportunities for personal growth and delevopment
4. develop a sense of belonging
5. provide incentives and services

Question 5

responsibility of business towards owners

Answer 5

1. ensure safety of investment
2. ensure fair and regular return on investment
3. to ensure appreciation of investment by proper utilisation of resources
4. to give complete information regarding the financial position of the business
5. to give the them opportunities to participate in decision making.

Question 6

responsibility of business towards government

Answer 6

1. to abide rules, regulation and laws
2. to pay taxes and duties on time
3. to help in solving social problems
4. to adopt fair dealing
5. to cooperate in planning, investigation and administrative activities of the government

Question 7

responsibility of business towards community

Answer 7

1. to protect the environment from all types of pollution
   2.provide more employment opportunities
2. promote national integration
3. help weaker section of society
4. preserve social and cultural values

Question 8

responsibility of business towards supplier

Answer 8

1. to ensure regular payment to the suppliers
2. adopt fair dealings with the supplier
3. to protect and assist small scale supplier
4. to guide and assist the suppliers in improving quality of their products

Question 9

causes of environmental pollution

Answer 9

1. air pollution
2. water pollution
3. land pollution

Question 10

need for pollution control

Answer 10

1. ensure safety
2. economic losses
3. maintain the natural beauty
4. to ensure healthy life
5. to lead a comfortable life

Question 11

role of business in environment protection

Answer 11

1. making use of eco-friendly techniques of production
2. recycling industrial waste
3. treating the waste through technologies before discharging them
4. making use of eco marks by producing eco-friendly prefects
5. abiding by the bye-laws and policies framed by the government

Question 12

business ethics

Answer 12

the set of moral values or standards or nor which govern the activities of a businessman.

Question 13

ethical decisions of a business

Answer 13

1. provide customer with true information regarding the products and services
2. allowing the customers to make free choice
3. providing quality products at reasonable price

Question 14

elements of business ethics

Answer 14

1. top management commitment
2. publication of a code
3. establishment of compliance mechanism
4. involving employees at all level
5. measuring results