NCERT Solutions For Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics

NCERT Solutions For Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics

Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics

NCERT Solutions For Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics, (Business Studies) exam are Students are taught thru NCERT books in some of state board and CBSE Schools.  As the chapter involves an end, there is an exercise provided to assist students prepare for evaluation.  Students need to clear up those exercises very well because the questions withinside the very last asked from those. 

Sometimes, students get stuck withinside the exercises and are not able to clear up all of the questions.  To assist students solve all of the questions and maintain their studies with out a doubt, we have provided step by step NCERT  Solutions for the students for all classes.  These answers will similarly help students in scoring better marks with the assist of properly illustrated Solutions as a way to similarly assist the students and answering the questions right.

NCERT Solutions For Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics

Class 11 Business Studies Chapter 6 Social Responsibilities Of Business And Business Ethics

 

Short Questions Answers

1. What do you understand by social responsibility of business? How is it different from legal responsibility?

It implies the duties and set of responsibilities that a business organisation has towards the society and its members. It also insists the enterprise must conduct various activities which are beneficial for society. Business always makes use of resources of society and hence it is a part of their responsibility to give something back by working for the improvement of society.

Social responsibility is different from legal responsibility as by abiding only the laws; legal responsibilities can be taken care of while social responsibilities are more concerned with doing better for society as in generating employment for poor and those who are physically challenged and employment opportunities for women.

2. What is environment? What is environmental pollution?

The environment comprises of the biotic and abiotic resources that are present in and around us. It impacts our quality of life. But with rapid growth in human population coupled with industrialisation, resources have been used, resulting in their depletion or degradation. Also, harmful discharge into the environment has resulted in polluting the area.

There are 4 types of pollution:

1. Water pollution which is caused by industrial waste after getting discharged from the pipe.

2. The dumping of toxic wastes in the ground causes land pollution and also makes the land unfit for any kind of agricultural activities.

3. Noise pollution is caused by vehicles and factories causing, health problems such as hearing loss and mental disorders.

4. Air Pollution is caused by the burning of waste materials, exhaust fumes from vehicles that release harmful gases into the atmosphere.

3. What is business ethics? Mention the basic elements of business ethics?

Business ethics deals with values and principles governing behaviour of an individual or an organisation and business activities that are considered as likeable from the society viewpoint. It helps managers and the other employees in performing their duties in a manner which is found to be socially acceptable.

Some elements of business ethics are:

1. Commitment from Top Management

2. Formation of a “code”

3. Establishing a compliance mechanism.

4. Involving employee at all levels.

5. Measuring results

4. Briefly explain (a) Air pollution, (b) Water pollution and (c) Land pollution.

1. Air Pollution is caused by the burning of waste materials, exhaust fumes from vehicles that release harmful gases into the atmosphere.

2. Water pollution which is caused by industrial waste after getting discharged from pipe.

3. The dumping of toxic wastes in ground causes land pollution and also makes the land unfit for any kind of agricultural activities.

5. What are the major areas of social responsibility of business?

Areas of social responsibility include:

1. Economic responsibility: Business enterprise operates with the sole purpose of earning profits. Hence a business must undertake activities for producing goods and services as per customer needs and sell them at reasonable prices.

2. Legal Responsibility: It is part of a firm’s responsibility to abide by the laws and regulations of the country of operation.

3. Ethical responsibility: It implies that any business enterprise must follow the business practices that are ethical and just from the society viewpoint

4. Discretionary Responsibility: This type of responsibility is voluntary in nature, it depends on the discretion of the organisation to start a hospital, provide scholarship to needy people or help with food to people facing food shortage due to any natural calamity.

6. State the meaning of Corporate Social Responsibility as per the Companies Act 2013.

Corporate social responsibility is the role that companies need to perform so as to meet the objective of social development and follow a balanced approach towards economic progress, social progress and environment protection.

CSR is governed by clause 135 in the Companies Act and is applicable to companies that have:

1. Annual turnover amounting Rs.1000 crore

2. Net worth amounting to Rs.500 crore

3. Net profit of Rs.5 crore

The activities that fall under schedule VII are related to hunger and poverty eradication, removing gender inequality, and creating a sustainable environment.

Long Questions Answers

1. Build up argument for and against social responsibilities.

For Social Responsibility:

1. Growth and Existence: A business looks towards gaining profits by providing goods and services to the customers. So for the long term growth, a business depends not only on profits but also how they serve the society. So an organisation takes up social responsibility activities, and it completely justifies its existence and supports its growth.

2. Interest of the firm in long term: If a business is seen as not socially responsible by the stakeholders, then the support for such organisation reduces.

3. Avoiding Government Regulation: Business can avoid being regulated by government by adopting social responsibility practices.

4. Create a better environment for business: A business cannot conduct its operations if the environment in which it operates is not conducive for business. So adopting social responsibility helps stabilize the environment and provides a good environment to do business.

Against social responsibility:

1. Business is started with the purpose of profit maximisation, if the organisation is busy working for social causes, it may not become profitable as it will lack the essential resource necessary to earn the profit.

2. Environmental problems like pollution involve a high cost which will translate to the higher cost being charged to customers by the organisations.

3. The general public is reluctant in letting business contribute to solving social issues, and hence business have been seen to be not quite successful in addressing such issues.

2. Discuss the forces which are responsible for increasing concern of business enterprises towards social responsibility.

1. Labour movement pressure: Labours are more educated and know their rights well; hence it is essential for businesses to provide benefits and good working conditions, better remuneration so as to take care of the welfare of the workers.

2. Consumer Consciousness: Consumers have become more conscious of their rights, and thus the companies need to prepare products that are cost-efficient.

3. Threat of Public regulation: If the company is not working in the direction of benefit of society, then the government may step in to safeguard the interests of the society.

4. Development of business education: There is need for consumers, investors, employees to become more aware of the social issues around them.

5. Developing Social standards: Companies cannot only be profit-making entities but also need to look towards serving social needs for growth and existence, for this they need to fulfil some activities of social welfare

3. ‘Business is essentially a social institution and not merely a profit making activity’. Explain.

A business has the primary motive as profit maximisation. But business organisations are not pure profit making concerns. As they are created by society to fulfil requirement of goods. Every business utilities resources of society and human resources. So a business is also impacted by problems of society such as poverty and unemployment. Activities such as creating jobs and healthy working condition, paying taxes, preventing pollution and addressing complaints from customers are some of the examples of socially desirable practices that improve image of society. Here are some examples which show business as a social institution.

1. A business has to provide fair return to the shareholders or owners on the capital they invested and ensure safety of such an investment.

2. Provide meaningful opportunities for workers along with fair wage for the work.

3. Producing and supplying good quality goods along with the right quantity and customer service at reasonable price ensures that business is a social institution.

4. By paying tax on time a business respects, the rules of society and hence makes it a social institution.

4. Why do the business enterprises need to adopt pollution control measures?

The need for adopting pollution control measures by a business enterprise is necessary for these reasons:

1. Pollutants present in the environment cause many complications like respiratory disorders, cancer, damage to kidneys, lungs. Reducing or keeping a check on the pollutants will ensure a healthy life on earth.

2. Organisations can implement pollution control device in its premises in order to stop the damage that is caused by gases and solid wastes.

3. Using outdated production technology results in generation of excess amounts of waste, which can cause damage to environment and people, therefore new cleaner technology should be adopted.

4. An organisation having a proper pollution control measure at disposal is trusted as a socially responsible enterprise.

5. Effective pollution control mechanisms also reduces operating cost of a business while making environment clean.

5. What steps can an enterprise take to protect the environment from the dangers of pollution?

Following steps can protect environment from damage caused by pollution:

1. The top management needs to have a definite commitment to create, maintain and develop work culture for environmental protection.

2. Employees at all levels should work towards keeping environment clean

3. By conducting drama, workshops the business organisation needs to be spread awareness of pollution.

4. Businesses must respect and abide by the rules set up by government in order to combat pollution scenario.

6. Explain the various elements of business ethics?

Elements of business ethics are as follows:

1. Top level managers or CEO of a firm should diligently follow the ethical code of conduct and guide others in following them.

2. The code of conduct must be preserved in the form of written documents known as code which contains laws dealing with safety in workplace, health, quality etc.,

3. Suitable compliance mechanisms should be placed which ensures that decisions and the corresponding actions comply with the firm’s ethical standards.

4. Employee should be involved in all levels of ethics programmes as employees are the ones who implement the ethical policies.

5. The firm must monitor whether the ethics programmes comply with ethical standards and measure the end results of ethics programme and check if any course of action should be taken.

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 objective of social development and follow a balanced approach towards economic progress, social progress and environment protection.

CSR is governed by clause 135 in the Companies Act and is applicable to companies that have:

1. Annual turnover amounting Rs.1000 crore

2. Net worth amounting to Rs.500 crore

3. Net profit of Rs.5 crore

The CSR guidelines are as follows:

1. Companies should set up a committee for Corporate Social Responsibility that consists of 3 or more board members of the company; one of them should be an independent director.

2. It also encourages companies to spend 2% of their net profit from the previous three years towards CSR activities.

3. The CSR activities that can be undertaken by a company should be as mentioned under Schedule VII of the act.

4. Only those CSR activities that have been undertaken in India will be considered.

5. Activities meant exclusively for employees should not qualify as CSR.

 

Benefits of NCERT Solutions

NCERT’s Class 11 solution contains extremely important points, and for each chapter, each concept has been simplified to make it easier to remember and increase your chances of achieving excellent exam results. Exam Preparation References Here are some tips on how these solutions can help you prepare for the exam.

  1. This helps students solve many of the problems in each chapter and encourages them to make their concepts more meaningful.
  2. NCERT Solutions for Class 11 solutions encourage you to update your knowledge and refine your concepts so that you can get good results in the exam.
  3. These solutions are the best exam materials, allowing you to learn more about your week and your strengths. To get good results in the exam, it is important to overcome your weaknesses.
  4. Most of the questions in the exam are formulated in a similar way to NCERT textbooks. Therefore, students should review the solutions in each chapter in order to better understand the topic.
  5. It is free of cost.

Tips & Strategies for Class 11 Exam Preparation

  1. Plan your course and syllabus and make time for revision
  2. Please refer to the NCERT solution available on the cbsestudyguru website to clarify your concepts every time you prepare for the exam.
  3. Use the cbsestudyguru learning app to start learning to successfully pass the exam. Provide complete teaching materials, including resolved and unresolved tasks.
  4. It is important to clear all your doubts before the exam with your teachers or Alex (an Al study Bot). 
  5. When you read or study a chapter, write down algorithm formulas, theorems, etc., and review them quickly before the exam.
  6. Practice an ample number of question papers to make your concepts stronger. 
  7. Take rest and a proper meal.  Don’t stress too much. 

Why opt for cbsestudyguru NCERT Solutions for Class 11 ? 

  • cbsestudyguru provide NCERT Solutions for all subjects at your fingertips.
  • These solutions are designed by subject matter experts and provide solutions to every NCERT textbook questions. 
  • cbsestudyguru especially focuses on making learning interactive, effective and for all classes.
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