case study class 11 business studies chapter 6

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Q1. Mr. Bhuvan is a Chartered Accountant in a Multinational Company. He gets rs 85,000 per month as his salary. On weekends, Mr. Bhuvan goes to nearby village and teaches some slum children, he does not charge anything from them, he does it out of sympathy and children. This gives him mental and psychological satisfaction. concern for poor.

(a) Working as CA in a MNC refers to which type of human activity. (b) Teaching students in slum is which type of human activity. (c) Identify the values followed by Bhuvan.

Ans. (a) Economic

(b) Non-Economic

(ii) Value of helping poor.

Q. 2. Rajiv wants to start a whole sale business of readymade garments, but he is hesitating as it involves various problems such as customers for moving goods from place of production to market, informing customers about new designs and varieties added every season, threat of risk loss by fire or accident, storing the excess stock of goods, etc. He approaches his friend Sandeep who explained him about some branches of commerce, which can help Rajiv to overcome his hesitation.

(a) State the type of business Rajiv is planning to start.

(b) State which dimension of business can help Rajiv to overcome these hindrances. (c) Specify different types of Auxiliaries to trade which can help Rajiv to overcome his problems. Quote the line for each type from above Para.

Ans. (a) Trade - Whole sale Trade.

(b) Commerce

(iii) "Informing customers"

(iv) "Threat of Risk" Transportation - Advertisement Insurance -

Q. 3. Indu bought a readymade dress for ₹ 5000. Her friend liked the design of dress very much, so Indu sold the same dress to her friend for 5500 and made a profit of 500. After completing her studies Indu opened a shop of selling readymade dresses for girls.

(a) Can transaction between Indu and her friend be termed as business?

(b)State the features related to 'a'.

Ans.(a) No.

(b) "Regular Basis".

Q. 4. Name the following:

(a) The economic activity showing a risk element and carried on profit.

(b) The trade in which two countries are involved.

(d) The industry which involves breeding and reproduction of plants and animals.

(e) The branch of commerce which remove hindrance of place.

Ans. (a) Business

(b) External Trade

(d) Genetic Industry

(e) Transportation.

Q. 5. An organisation planned to use CFL and LED which consume less electricity to reduce operational cost. They also give preference to labour intensive technique of production. What values company is implementing?

Ans.1. Value of saving electricity.

2. Value of creating employment opportunities.

3. Value of reduction in cost.

Q. 6. An organisation arranges recreational activities for its employees to refresh them and also send them for training to update their knowledge. What values are followed by the company? .

Ans. 1. Value of meeting personal objectives.

2. Value of motivating employees.

3. Values of giving job satisfaction to employees.

Q. 7. A Chartered Accountant advised his elient how to convert black money into white money and he also guided him how to save income tax by hiding his income. Is his act justified.

Ans. No conduct of CA and businessmen are not justified:

(a) CA is violating his code of conduct by acting unethically.

(b) Cheating government by paying less income.

(d) The act is not even unethical but illegal also.

Q. 8. A Tool and Equipment Manufacturing Company gave bribe to purchase manager of a factory to buy tools of low quality and which are not having safety norms. The purchase manager accepted the offer and gave a big order. What values are violated?

Ans. 1. Value of playing with the health of workers.

2. Not fulfilling safety norms competition. 3. Offering bribe is an unlawful act.

Q.9. A unit set up by Tata in rural area and the company plan to develop roads, parks of that area they also started a school for local children of that area. What values are followed?

Ans. 1. Fulfilling social objectives.

2. Increasing literacy rate.

3. Improving standard of living.

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Important Questions for CBSE Class 11 Business Studies Chapter 6 – Social Responsibilities of Business and Ethics

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Important Questions Class 11 Business Studies Chapter 6 – Social Responsibilities of Business and Business Ethics

Due to its diversity, Business Studies is one of the most internationally studied courses in the world. Business studies is a broad subject in the social sciences that focuses on various disciplines such as accounting, finance, organisation, human resources management, and marketing. The sixth chapter of the Class 11 curriculum is Social Responsibilities of Business and Business Ethics; this chapter discusses various social responsibilities of business and business ethics. This chapter covers concepts such as the need for Social Responsibility, identifying social responsibility towards different interest groups, concepts of business ethics and so on. Chapter 6 carries a significant amount of weightage in the examination. Students can easily access Chapter 6 Class 11 Business Studies Important Questions and much more once they register themselves on the Extramarks website.

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1	Chapter 1
2	Chapter 2
3	Chapter 3
4	Chapter 4
5	Chapter 5
6	Chapter 6	Social Responsibilities of Business and Business Ethics
7	Chapter 7
8	Chapter 8
9	Chapter 9
10	Chapter 10
11	Chapter 11

Social Responsibility of Business Class 11 Questions and Answers

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:

Yearly revenue of Rs. 1000 crore
A net value of 500 billion rupees
A 5-crore rupee net profit

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:

1,000 crores or more in annual income,
a net worth of at least 500 billion rupees, or
5 crore or more in net profit

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:

A corporate social responsibility committee, made up of three or more board members, including at least one independent director, is required.
Companies must invest 2% of their average net earnings over the preceding three fiscal years to follow the Corporate Social Responsibility Policy.
Only CSR projects that are specified in a company’s corporate social responsibility policy—which is based on the recommendations of the corporate social responsibility committee—should be undertaken by businesses in India.
A company shall adhere to the rules outlined in Schedule VII of the Act while conducting CSR-related activities.
People will not consider CSR initiatives if they simply serve the interests of the company’s employees or their families.

Q6. Build up arguments for and against social responsibilities.

Answer. The following are arguments for social responsibilities:

Self-enlightenment: As businesses gain more knowledge and awareness of their position as society’s creators, they are compelled to strive for the greater good. Public expectations are shaped by the voluntary moral and social responsibility norms that managers choose and uphold. Consequently, businesses take on social responsibility on their own rather than as a result of legislative interference.
Survival in the long run: In the long term, a corporation and its reputation stand to gain the most when its primary goal is to “serve society.” A business gains when it fulfils its social responsibility. When a company achieves social objectives, it also boosts its reputation with the public.
Safeguard stakeholders’ interests: Businesses must now go above to satisfy their employees if they want their support. The customer does not purchase the thing that is being presented to them. They buy precisely what they want. Due to increased customer awareness, businesses must embrace social responsiveness toward their clients. Therefore, fulfilling social commitments contributes to a business’s long-term success.
Limits governmental regulation: Government rules are undesirable because they limit one’s freedom. It is believed that business people may avoid the issue of governmental constraints by voluntarily performing social tasks, which will lessen the need for new laws.

Environmental contamination concerns are handled by organisations like the Central Pollution Control Board.

Criticising the corporate community for societal issues: Businesses are responsible for creating or sustaining societal issues. Therefore, corporations have a moral duty to actively participate in finding solutions to these problems rather than ignoring them and hoping that other social organisations will take care of them.
Resources: Large-scale resources available to business enterprises can be used to address societal issues partially. A company may help society handle its issues more effectively given the massive financial and human resources at its disposal. Businesses must operate in society’s best interests both economically and socially since they are a product of society.
Transforming challenges into opportunity: By taking on the challenge, a business with a track record of effectively negotiating lucrative outcomes in trying circumstances can not only assist in mitigating societal issues but also successfully transform them into assets.

The following are arguments against social responsibilities:

Consumers’ burden: Environmental protection and pollution control are expensive societal obligations that usually require significant financial outlays. Businesspeople frequently demand more excellent prices from their consumers rather than shouldering the responsibility of doing the right thing.
Profit maximization: It is the only business goal, and it is violated. Any consideration of social responsibility is therefore incompatible with this objective. The most effective approach for the company to fulfill its social responsibility is to maximize profits through improved efficiency and reduced expenses.
Widespread popular opposition: The public dislikes business involvement or social program interference. As a result of a lack of public trust and cooperation in resolving social concerns, a business cannot prosper.
Lack of social skills: Businesspeople lack the necessary abilities and education to address social concerns. Social concerns should be handled by other specialist organisations instead.

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:

Legal responsibility: Every company is required by law to abide by the nation’s laws. A company is socially responsible if it complies with all applicable rules and regulations.
Economic responsibility: The economic duty of a company enterprise, or the responsibility to provide goods and services that society wants and sell for a profit, is its primary social responsibility.
Discretionary responsibility: Discretionary responsibility implies that the firm must safeguard the capital invested by abstaining from speculative behaviour such as gifts to charities, etc. and should engage only in profitable commercial ventures.
Ethical responsibility: Referred to as socially acceptable conduct that is not protected by law. Some volunteer help is needed for this project.

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:

The dumping of hazardous wastes into the earth pollutes the environment and renders the land unsuitable for agricultural use, leading to land pollution.
Health issues, including hearing loss and mental illnesses, are brought on by noise pollution from industry and traffic.
Industrial waste that is released through a pipe causes water pollution.
Burning waste materials and vehicle exhaust fumes that emit dangerous gases into the environment are two factors that contribute to air pollution.

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:

Top-tier managers, such as the CEO of a company, should carefully adhere to the ethical standards and mentor others to do the same.
The code of conduct, which contains regulations about workplace safety, health, and other matters, must be retained in the form of written papers known as “code.”
It is essential to have appropriate compliance systems that guarantee choices and the accompanying actions adhere to the firm’s ethical standards.
The business must track whether its ethics programmes adhere to moral norms, evaluate their outcomes, and determine what course of action is necessary.
Since workers are the ones who put ethical rules into practice, employees should be included in all levels of ethics programmes.

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:

The labour movement has strengthened globally to secure benefits for the working class.
Due to this, companies are now required to think about the well-being of their workers rather than following a “hire and fire” philosophy.

Effect of consumer awareness:

The consumer is increasingly aware of his rights and abilities to influence market dynamics because of improvements in education and mass media and greater market competition.
Businesses are starting to adopt a customer-centric strategy now that the consumer is king.

The threat of public regulation:

Actions are made to regulate businesses that conduct themselves in a socially irresponsible way to protect the general public’s interests.
The fear of government regulation is one of the critical causes of why corporations are worried about social responsibility.

Establishment of social standards for business:

The economic activity of corporate enterprises is now recognised by new social criteria, but only if it also meets social needs.
It is impossible to operate a business without interacting with the outside world.

The connection between business and social interest:

Business firms claim that social and commercial objectives are no longer incompatible. They complement one another well.
Providing high-quality service to society is how businesses may gain in the long run.

The emergence of the managerial and professional classes:

A unique class of professionals has been created due to professional management education at universities and specialised management institutes.
When successfully operating their enterprises, professional managers are more concerned with gratifying a range of social interest groups than only hitting profit objectives.

Improving business education:

Public awareness of the company’s social mission has expanded with the expansion of business education and its substantial social responsibility element.

Q13. Why do enterprises need to adopt pollution control measures?

Answer. A corporate company must undertake pollution control measures for the following reasons:

Environmental pollutants contribute to many consequences, including cancer, kidney and lung damage, respiratory illnesses, and cancer. A healthy environment on earth can be achieved through reducing or controlling pollution.
Organisations can install pollution control equipment in their buildings to stop the harm that gases and solid wastes create.
Utilising outmoded production methods generates excessive waste, harming the environment and people. As a result, newer, cleaner methods should be employed.
An organization is regarded as a socially responsible business if it has an effective pollution control strategy in place.
Effective pollution control methods also lower a company’s operational expenses while preserving the environment.

Q14. Briefly explain (a) Air Pollution, (b) Water Pollution, and ( c) Land Pollution.

Answer. The terms are briefly explained below:

Air Pollution: Carbon monoxide emissions from autos, smoke, and other chemical emissions from manufacturing enterprises are the leading causes of air pollution. The pollution has caused a hole in the ozone layer, leading to significant global warming.
Water Pollution: The major causes of water pollution are chemicals, industrial waste, and rubbish dumping. It has claimed the lives of several animals and seriously endangers human life.
Land Pollution: When hazardous trash is placed on land, pollution occurs. This lowers the quality of the land, making it unsuitable for farming or planting.

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:

They are obeying the government’s laws and guidelines to prevent pollution.
Taking part in government initiatives to plant trees, manage toxic chemicals, clean up filthy rivers, and avoid deforestation.
Ensuring that all divisions and workers share the company’s commitment to environmental preservation.
Creating specified plans and programmes for sourcing high-quality raw materials, employing innovative technology, implementing scientific waste disposal and treatment techniques, and developing staff skills to prevent pollution.
A clear commitment from the company’s senior management to build, maintain and grow a work culture that fosters environmental protection and pollution prevention.
Periodic review of pollution control initiatives regarding costs and benefits to enhance environmental protection efforts.
Organising educational seminars and training materials to share technical knowledge and expertise with suppliers, dealers, and customers to involve them in pollution control activities.

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:

Top management’s commitment
Establishment of a “code.”
Setting up a compliance system.
Including staff members at all levels.
Monitoring outcomes

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:

Protection against human injustice: Businessmen typically don’t uphold governmental norms and set their own social and economic standards. Human rights are brought to light when individuals believe that injustice is being sustained.
Respecting human values: Some human rights are seen as being fundamental. These rights are of more importance than other human rights and legal rights and give entitlements outside the purview of legal authority, and others should respect them.
Provides benchmarks for law and land policies: Following independence, a few fundamental rights emerged that operate independently of all laws and policies. These rights are more important than any laws or norms a community may have established.

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:

Right to form and join trade unions.
The right to work, free choice of employment, good working conditions, and right of protection against unemployment.
Reasonable limits on working hours and periodic holidays with pay.
Right of just or favourable remuneration.

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:

They are seen as social institutions since society plays a role in a company’s success.
Waste of time, money, and labour should be kept to a minimum since every firm uses society’s physical and human capital.
Since a business cannot function without customers, purchasing its goods and services depends on them. To do business effectively, it must keep a positive connection with its customers.

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.

Key Topics Covered in Important Questions Class 11 Business Studies Chapter 6

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:

Commitment to societal problems
Resources used for moral justification
Social influence
Avoiding the involvement of government
Public image
Better environment for business
Personal gain

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 motive of earning profit.
Social skills deficit.
It costs money to be socially responsible.
Diluted main business objective.
Business People lack morality.
Decreased competitiveness

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:

The threat of government regulation
Labour movement pressure
Effect of consumer awareness
Creation of social norms for business
Social and commercial interests are related to one another.
Growth of the professional-managerial class

Kinds of Social Responsibility

Ethical Responsibility: While acting ethically, business people should refrain from engaging in adulteration, black marketing, etc. Ethics are much more than the law.
Economic Responsibility: Businesses must provide things and services that society needs and values and sell them for a profit to fulfil their economic responsibilities.
Discretionary Responsibility: This obligation is entirely optional. This involves charitable giving. Helping those impacted by floods, earthquakes, etc., by participating in social service programmes, establishing educational and training facilities, etc.
Legal Responsibility: Every firm is expected to operate within our society’s legal framework. A business that follows the law is viewed as socially responsible and receives no interference from the government.

Social responsibility towards different interest groups

Responsibilities towards Consumers:

Production of certain products while upholding quality requirements.
Being sincere in marketing.
Should adhere to fair trade principles.

Responsibilities towards Employees:

Provide perks and remuneration that are just.
Establishing favourable and secure working circumstances.
To provide them with opportunities to take part in the decision-making

Responsibilities towards the Owners/Shareholders/Investors:

To guarantee investment safety.
To guarantee a just and consistent return on investment.
To guarantee investment growth through efficient resource use.

Responsibilities towards Government:

To follow the law, rules, and regulations.
Must promptly pay all taxes and fees.
To assist in resolving social issues.

Responsibilities towards the community:

To defend the environment from contamination of all kinds.
To increase the number of work options.
To support society’s less fortunate groups.

Responsibilities towards Suppliers:

To make sure that the provider is regularly paid.
To conduct fair business with suppliers.
By placing orders with them to defend and support small-scale suppliers.

Business and Environment protection

Causes of Environmental Pollution

The following factors contribute to environmental pollution:

Land pollution
Air pollution
Water pollution

Need for Pollution Control

The following are the primary causes for pollution control:

To guarantee safety
To preserve the beauty of nature
Economic losses
To guarantee a healthy life
To lead a comfortable life

Role of Business in Environmental Protection

Business people should take the following actions to control and check environmental pollution:

Using environmentally sustainable production methods.
Industrial waste recycling.
We are using technology to treat garbage before dumping it on land or releasing it into the sea.
Utilise eco-marks by making environmentally beneficial items.

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:

The construction of a compliance system
Publication of a ‘code.’
Engaging workers at all levels
Top management commitment
Result measurement

In the above section of Important Questions Class 11 Business Studies Chapter 6 , all the critical topics covered have been discussed.

Benefits of Solving Business Studies Class 11 Chapter 6 Important Questions

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:

Business Studies comprises a vast syllabus —all the intricacies of the chapters are adequately explained through these crucial questions by Extramarks. Students and teachers have unshakable trust and faith in Extramarks resources.
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Important Questions are curated keeping in mind all the guidelines laid by CBSE , so that students can study independently without any further assistance.

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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.

Installation of pollution control device can be categorised under which type of social responsibility
Also, identify the concept that involves adhering to moral practices and following fair business practices in the interest of people.

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.

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Cbse class 11 business studies important questions, chapter 1 - business, trade and commerce.

Chapter 2 - Forms of Business Organisation

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.

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2. How many books are assigned for Class 11 Business Studies?

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.

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CBSE Class 11 Business Studies Revision Notes Chapter 6 Social Responsibility of Business and Business Ethics PDF

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.

CBSE Class 11 Business Studies Revision Notes Chapter 6 Social Responsibility of Business and Business Ethics

SelfStudys provides chapter-wise Business Studies Revision Notes and short key notes for the CBSE board examination in free downloadable PDF format so students can practice it for their studies and get better in their board examinations. The CBSE Class 11 Revision notes are made for some important subjects such as Maths, English, Hindi, Physics, Chemistry and Biology. These core subjects can be very difficult for students and the revision notes for every chapter will enable them to have a skilful studying pattern with which they can achieve so much better and also enjoy studying the subject.

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NCERT Solutions For Class 11 Business Studies Social Responsibilities of Business and Business Ethics

October 9, 2019 by phani

Free PDF download of NCERT Solutions for Class 11 Business Studies Chapter 6 Social Responsibilities of Business and Business Ethics solved by Expert Teachers as per NCERT (CBSE) Book guidelines. All Chapter wise Questions with Solutions to help you to revise complete Syllabus and Score More marks in your examinations.

NCERT Solutions Class 11 Business Studies Business Studies Sample Papers

TEXTBOOK QUESTIONS SOLVED

I. Multiple Choice Questions Question 1. Social responsibility is (a) Same as legal responsibility (b) Broader than legal responsibility (c) Narrower than legal responsibility (d) None of them Question 2. If business is to operate in a society which is full of diverse and complicated problems, it may have (a) Little chance of success (b) Great chance of success (c) Little chance of failure (d) No relation with success or failure Question 3. Business people have the skills to solve (a) All social problems (b) Some social problems (c) No social problems (d) All economic problems Question 4. That an enterprise must behave as a good citizen is an example of its responsibility towards (a) Owners (b) Workers (c) Consumers (d) Community Question 5. Environmental protection can best be done by the efforts of (a) Business people (b) Government (c) Scientists (d) All the people Question 6. Carbon monoxide emitted by automobile directly contributes to (a) Water pollution (b) Noise pollution (c) Land pollution (d) Air Pollution Question 7. Which of the following can explain the need for pollution control? (a) Cost savings (b) Reduced risk of liability (c) Reduction of health hazards (d) All of them Question 8. Which of the following is capable of doing maximum good to society? (a) Business success (b) Laws and regulations (c) Ethics (d) Professional management Question 9. Ethics is important for (a) Top management (b) Middle-level managers (c) Non-managerial employees (d) All of them Question 10. Which of the following alone can ensure effective ethics programme in a business enterprise? (a) Publication of code (b) Involvement of employees (c) Establishment of compliance mechanisms (d) None of them Answers: 1. (b) 2. (a) 3. (b) 4. (d) 5. (d) 6. (d) 7. (c) 8. (c) 9. (d) 10. (c)

II. Short Answer Type Questions Question 1. What do you understand by social responsibility of business? How is it different from legal responsibility? Answer: Social responsibility of business refers to its obligation to take those decisions and perform those actions which are desirable in terms of the objective and values of our society. It refers to the obligation of business towards various social groups like employees, consumers, investors, government etc. In the words of H. R. Bowen, “Social responsibility of business is to pursue those policies, to make those decisions or to follow those lines of action which are desirable in terms of the objectives and values of our society Legal responsibility is the responsibility that a business has by virtue of law. Differences between Social and Legal Responsibility.

Legal responsibility is compulsory under any of the laws, acts and constitution. Social responsibility is not backed by legal provisions.
Legal responsibility is compulsion while social responsibility is a choice.
Many a time, legal responsibility is fulfilled in the name of social responsibility.
There are no punishments for organizations not following their social responsibility but legal action can be taken against organizations not following their legal responsibility.

Question 2. What is environment? What is environmental pollution? Answer: By environment, we mean our surroundings, which have an impact on our lives. It is the sum total of the surroundings and resources, including both biotic resources (i.e., living creatures such as plants and animals) and abiotic resources (i.e., non-living things, such as air, water and land) that affect our existence and quality of life. However, because of the rapid increase in population and industrialisation, the excessive use of resources has resulted in their degradation and depletion. Also, the discharge of harmful substances into the environment has contributed towards pollution. Environmental pollution can be classified into the following four types.

Air Pollution : It is caused by the emission of harmful gases into the atmosphere.
Water Pollution: It is caused by the discharge of industrial and household wastes into the rivers, thereby degrading the quality of water.
Land Pollution: This is caused by dumping toxic wastes on land, which in turn damages it, making it unfit for agriculture.
Noise Pollution: It is caused by noise from factories and vehicles, which may cause serious health problems such as loss of hearing or mental disorders.

Question 3. What is business ethics? Mention the basic elements of business ethics. Answer: Business ethics refers to the values and principles that govern the behaviour of individuals in an organisation such that the business activities are desirable from the viewpoint of society. The main purpose of business ethics is to guide managers and other employees to perform their jobs in a manner that is socially acceptable. The following are some of the elements of business ethics.

Top management commitment : Top-level officers, such as CEO’s and senior managers, must strongly follow the ethical codes and guide the other employees in adopting such behaviour.
Publication of a code: Enterprises must clearly define the ethical code of conduct, which would include quality standards, laws governing production and health and safety standards for the employees.
Establishment of compliance mechanism: In addition to standards, an enterprise must also devise a mechanism through which compliance with the code of conduct can be measured.
Involvement of employees at all levels: The successful implementation of ethical standards requires the involvement of all the employees at all levels.
Measurement of results: Although it is difficult to measure the end results of implementation of ethical standards, the top management should take steps to measure the degree of compliance with the ethical codes.

Question 4. Briefly explain (a) Air pollution, (b) Water pollution, and (c) Land pollution. Answer: (a) Air Pollution: This kind of pollution is caused by the emission of harmful gases into the atmosphere. Smoke and chemicals emitted by factories and vehicles degrade the air quality and causes air pollution. (b) Water Pollution: Discharge of industrial and household wastes into rivers, streams or lakes causes degradation of the water quality. Over time, the increase in water pollution often results in the deaths of several animals and poses serious threats to human beings. (c) Land Pollution: This is caused due to the dumping of toxic materials and wastes on land, which in turn damages the quality of land, making it unfit and unproductive for agriculture and crop plantation.

NCERT Solutions For Class 11 Business Studies Social Responsibilities of Business and Business Ethics SAQ Q5

Shareholders or investors who contribute funds for business.
Employees and others that make up its personnel.
Consumers or customers who consume and/or use its outputs (products and/or services).
Government and local administrative bodies that regulate its commercial activities in their jurisdictions.
Members of a local community who are either directly or indirectly influenced by its activities in their area.
Surrounding environment of a location from where it operates.
The general public that makes up a big part of society.

III. Long Answer Type Questions Question 1. Build up arguments for and against social responsibilities. Answer: Arguments for Social Responsibility:

Justification for Existence and Growth: Although the main motive of any business is profit but the prosperity and growth of business is not possible without a continuous service to the society. Therefore, it is justified for a business to assume social responsibility.
Avoidance of Government Regulation: Businessmen can avoid the problem of government regulations by assuming social responsibilities voluntarily which helps to reduce the need for new laws.
Maintenance of Society: Those people who do not get a return for their hardships get indulged in anti-legal activities. Therefore, it is advisable for business enterprises to assume their social responsibilities.
Long Term Interest of the Firm: If consumers, workers, shareholders, government officials feel that they are not getting what they deserve, they start to withdraw their hands from business. It may prove more expensive for an enterprise.
Availability of Resources with Business: A business enterprise has effective human and financial resources to solve many of the social problems.
Converting Problems into Opportunities: Business can make risky situations useful by using their efficiency.
Better Environment for Doing Business: Business system should do something to meet needs before it is confronted with a situation when its own survival is endangered.
Holding Business responsible for Social Problems: Environmental pollution, unsafe workplaces, corruption in public institutions and discriminatory practices in employment are some of the problems which have caused due to business enterprises.

Arguments against Social Responsibility:

Violation of Profit Maximization: As per this argument, business enterprises claim that our objective is profit maximization. Business can reduce its cost and raise profits and then only it can meet its social responsibility.
Lack of Social Skills: Business enterprises neither have skill nor experience to solve all types of social problems. Therefore, it should be handled by specialized agencies.
Burden on Consumers: Many of the social responsibilities cost a lot and its burden falls on consumers only.
Lack of Broad Public Support: Business cannot operate successfully because of lack of cooperation and confidence on behalf of public to business enterprises.

Question 2. Discuss the forces which are responsible for increasing concern of business enterprises towards social responsibility. Answer: The following are the forces which are responsible for increasing the concern of business enterprises for social responsibility.

Threat of Public Regulation: The government is meant to safeguard the interests of society. Thus, in case the government feels that a business enterprise is behaving in a manner that is not socially desirable, then it can regulate the operations of that enterprise accordingly.
Pressure of Labour Movement: The increase in capital mobility over time has increased the pressure on business enterprises to pay attention to the welfare of workers, by providing them with healthy working conditions along with good remuneration.
Impact of Consumer Consciousness: As consumers today are aware of their rights and responsibilities, they take their decisions more rationally. Thus, business enterprises are made to work more efficiently and produce better products at reasonable rates to satisfy their customers.
Development of Social Standards: Business enterprises are not merely profit-making entities. For their long-term growth and existence, they require fulfilling the new standards of social welfare.
Development of Business Education: The spread of education over time has made consumers, investors, employees and owners aware of social problems, thereby making them more sensitive to social issues.
Relationship Between Social Interest and Business Interest: No business enterprise can work in isolation from society. Thus, there should be a balance between business interests and social interests, such that the business can grow by doing the maximum good to society.
Development of a Professional Managerial Class: Every business professional pursues the goal of profit maximization. But today’s professional managers make efforts to satisfy the interests of all members of society.

Question 3. ‘Business is essentially, a social institution and not merely a profit making activity.’ Explain. Answer: The primary objective of any business enterprise is profit maximization. This is because profit acts as a measure of success and at the same time is the main source of income for an enterprise. Also, profits are often used to finance the expansion projects of a business enterprise. However, it is argued that business enterprises are not merely profit-making entities. They are considered as social institutions, too, as they are created by society. As every business makes use of society’s resources in terms of human and physical capital, it cannot work in isolation from society. Its operations are affected by social problems such as unemployment and poverty. Thus, a need arises to create a balance between the business interests and social interests of a business enterprise, such that it can grow by doing the maximum good to society. Hence, we can say that a business enterprise is a social institution and not merely a profit-making entity. In this regard, the following are some of the responsibilities that must be fulfilled by an enterprise:

Paying taxes on time.
Paying fair wages to employees.
Supplying quality products at reasonable prices to customers.
Cooperating with the government in solving social problems, such as unemployment, poverty and illiteracy.

A business has some responsibility towards:

Government and local administrative bodies that regulate its commercial activities in their jurisdictions.
The general public that makes up a big part of society.

Question 4. Why do the enterprises need to adopt pollution control measures? Answer: Pollution control is necessary for preserving and improving the quality of environmental resources. As business activities such as production, transportation, distribution, storage and consumption are often assumed to cause the maximum destruction to society’s resources, a need arises for adopting pollution control measures. Following are some of the reasons why business enterprises need to adopt pollution control measures,

Reduced health hazards: Pollutants in the environment cause diseases such as cancers and respiratory problems. Thus, pollution control measures will not only help in reducing the incidence of diseases but also help people enjoy a good and healthy life.
Reduced risk of liability: Enterprises are often held responsible for polluting the environment and are asked to compensate. Pollution control helps in reducing the risk of such liabilities.
Cost savings: Efficient pollution control mechanisms help in reducing the cost of waste disposal and the cost of cleaning up production plants. This in turn helps firms to reduce their costs.
Improved public image: An increase in the education level has made people more aware about environmental problems. As a result, they have started realising the need to protect the environment. Thus, business enterprises which adopt pollution control measures enjoy a good reputation in the society.
Other social benefits: Pollution control helps a firm to enjoy various other benefits such as cleaner surroundings, better quality of life for its employees as well as owners and increased availability of good quality resources.

Question 5. What steps can an enterprise take to protect the environment from the dangers of pollution? Answer: Various business activities such as production, transportation and consumption of goods often result in over exploitation of natural resources. Thus, it is the responsibility of every business enterprise to control discharge of pollutants into the environment. The following steps can be taken by the business enterprises to control pollution.

Control by top managers: The top management of every organisation should be committed to creating, developing and maintaining a work culture conducive to environmental protection and pollution prevention.
Control by employees : Employees at all the levels of an organisation should be committed to keeping the environment clean and protected.
Better technology: Enterprises should employ good and superior technologies of production and use scientific techniques for waste disposal. This will ensure environmental protection and pollution control.
Follow rules: Enterprises must conform to the rules and regulations enacted by the government for the prevention of environmental pollution.
Increased awareness: By conducting workshops and training programmes, business enterprises must make an effort to spread awareness among its employees of the need to conserve the environment.
Assessment programmes: An efficient mechanism for the periodic assessment of pollution control programmes may also be adopted, in order to weigh their costs and benefits.

Question 6. Explain the various elements of business ethics. Answer: Business ethics can be defined as the code of conduct that a business must follow, such that it takes up only those activities that are desirable from the viewpoint of society. The purpose of business ethics is to guide managers and other employees in an organisation in performing their jobs in a manner that is socially acceptable. Business ethics should be followed in the day-to-day working of a business enterprise. The following are some of the elements of business ethics.

Commitment by top management: Top-level officers, such as the CEO’s and other higher level managers, must sincerely follow the ethical code of conduct. They should also guide other employees in their organisation in adopting the code.
Publication of a code: An enterprise must clearly define the ethical code of conduct to be followed in the organisation. The code should include quality standards for work, laws governing production and employee’s health and safety standards.
Establishment of compliance mechanism: In addition to setting performance standards, an enterprise must also devise a mechanism through which it can measure the actions of individual employees. This should be done in order to confirm whether the ethical standards are being met.
Involvement of employees at all levels: The successful implementation of ethical standards depends to a large extent on the involvement of employees at different levels. This is because it is the employees who actually implement the ethical codes.
Measurement of results: Although it is difficult to measure the end results of implementation of ethical standards, the top management should take steps to monitor compliance. Also, it must take serious action against any unethical behaviour in the organisation.

MORE QUESTIONS SOLVED

I. Very Short Answer Type Questions Question 1. Define corporate social responsibility. Answer: Corporate social responsibility is a comprehensive set of policies, practices and programmes which are integrated into business operations, supply claims, and decision making process throughout the company, wherever the company does business and includes responsibility for current actions as well as past and future actions.

Question 2. What is the relation between ethics and moral values? Answer: Ethics refer to the entire body of moral values which a society attaches to the actions of human beings.

Question 3. What do you mean by the principles derived from social values which guide and govern the conduct of businessmen? Answer: Business ethics are principles derived from social values which guide and govern the conduct of businessmen.

Question 4. Mention two responsibilities of business towards customers. Answer: Supply of right quality of goods and proper precaution against adulteration.

Question 5. Give any two reasons supporting social responsibilities. Answer: (i) It is in long term interest of the business. (ii) It is justified for growth and existence of business.

Question 6. Give any two reasons against social obligation. Answer: (i) It violates the goal of profit maximization (ii) Its burden falls on consumers.

Question 7. Name any two factors which affect the ethical behaviour of a business. Answer: Awareness amongst people, overall environment of the area where business is located.

Question 8. Define pollution. Answer: Pollution is change in the physical, chemical and biological characteristics, air, land and water.

Question 9. Give any one point of difference between ethics and law. Answer: Ethics are self-imposed while laws are imposed by an external governing authority.

Question 10. Do businessmen have skill to tackle social problems? Answer: Yes, businessmen have skills to tackle some but not all social problems.

Question 11. What is environmental pollution? Answer: When the quality of environment degrades due to mixture of unwanted elements in it, it is called environmental pollution.

Question 12. What is the reality of social responsibilities? Answer: In reality, social responsibility takes form of lip service only. There is no genuine effort from a business. Many a time firms play their legal roles in the name of social responsibility.

Question 13. What is code of ethics? Answer: An enterprise must clearly define the ethical code of conduct to be followed in the organisation. The code should include quality standards for work, laws governing production and employee’s health and safety standards.

Question 14. Give any one difference between ethics and law. Answer: Business ethics refer to the socially determined moral principles which should govern business activities. Laws are determined by the legal bodies of a country.

II. Short Answer Type Questions Question 1. What are the core objectives of social responsibility of business? Answer: The core objectives of social responsibility of business are as follows:

It is a concept that implies a business must operate (function) with a firm mindset to protect and promote the interest and welfare of society.
Profit (earned through any means) must not be its only highest objective else contributions made for betterment and progress of a society must also be given a prime importance.
It must fulfill its social responsibilities honestly in regard to the welfare of society in which it operates and whose resources and infrastructures it makes use of to earn huge profits.
It should never neglect (avoid) its responsibilities towards society in which it flourishes.

Question 2. What are the obligations of a business in the name of social responsibility? Answer: The social responsibility of business comprises of the following obligations:

A business must give a proper dividend to its shareholders or investors.
It must provide fair wages and salaries with good working conditions.
It must provide a regular supply of good quality goods and/or services to its consumers/customers at reasonable prices.
It must abide by all government rules and regulations, support its business related policies and should pay fair taxes without keeping any delays or dues.
It must also contribute for the betterment of a local community by doing generous activities like building schools, colleges, hospitals, etc.
It must take immense care to see that its activities neither directly nor indirectly create havoc on the vitality of its surrounding environment.
It should maintain a stringent policy to curb or control pollution in regard to contamination of air, water, land, sound and radiation leakages. It must hire experienced professional individuals who are experts in their respective fields.
It should also offer social-welfare services to the general public.

Question 3. Name any four elements of business ethics. Answer: Business ethics can be defined as the code of conduct that a business must follow, such that it takes up only those activities that are desirable from the viewpoint of society. The purpose of business ethics is to guide managers and other employees in an organisation in performing their jobs in a manner that is socially acceptable. The following are some of the elements of business ethics.

Top-level officers, such as the CEO’s and other higher level managers, must sincerely follow the ethical code of conduct. They should also guide other employees in their organisation in adopting the code.
An enterprise must clearly define the ethical code of conduct to be followed in the organisation. The code should include quality standards for work, laws governing production and employee’s health and safety standards.
In addition to setting performance standards, an enterprise must also devise a mechanism through which it can measure the actions of individual employees. This should be done in order to confirm whether the ethical standards are being met.
The successful implementation of ethical standards depends to a large extent on the involvement of employees at different levels. This is because it is the employees who actually implement the ethical codes.
Although it is difficult to measure the end results of implementation of ethical standards, the top management should take steps to monitor compliance. Also, it must take serious action against any unethical behaviour in the organisation.

Question 4. Explain the obligations of business towards owners and investors. Answer: It is the responsibility of a business to pay attention on the maintenance and expansion of returns for all of its shareholders on important management issue, and constantly strives to improve its business performance and financial structure. The company’s dividend policy calls for maintaining stable dividends, and Casio determines the allocation of profit by taking into account all factors such as profit levels, financial position, the dividend pay out ratio, and future business development and forecasts.

Question 5. How can a business enterprise improve its public image by performing social responsibilities? Answer: Public relations is a potent tool for shaping consumer perception and building a company’s image. Corporations that actively promote their social responsibility activities often take steps to publicise these efforts through the media. Getting the word out about corporate donations, employee volunteer programmes, or other CSR initiatives is a powerful branding tool that can build publicity for you in both online and print media.

Question.6. What obligation does a businessman have towards the government? Answer: Social responsibility of business towards government’s regulatory bodies or agencies is quite sensitive from the license point of view. If permission is not granted or revoked abruptly, it can result in huge losses to an organization. Therefore, compliance in this regard is necessary. Furthermore, a business must also function within the demarcation of rules and policies as formulated from time to time by the government of state or nation. It should respect laws and abide by all established regulations while performing within the jurisdiction of state. Some examples of activities a business can do in this regard:

Paying fair taxes on time,
Following labor, environmental and other laws, etc.
Seeking permissions wherever necessary,
Licensing an organization,

If laws are respected and followed, it creates goodwill of business in the eyes of authorities. Overall, if a government is satisfied it will make favourable commercial policies, which will ultimately open new opportunities and finally benefit the organization sooner or later.

Question 7. Give any four reasons against the social responsibilities of business. Answer: Arguments against social responsibility

Violation of Profit Maximisation: As per this argument, business enterprises claim that our objective is profit maximisation. Business can reduce its cost and raise profits and then only it can meet its social responsibility.
Lack of Social Skills: Business enterprises neither have skill nor experience to solve all types of social problems. Therefore, it should be handled by specialised agencies.
Lack of Broad Public Support : Business cannot operate successfully because of lack of cooperation and confidence from public to business enterprises.

Question 8. What are the responsibilities of business towards employees and customers? Answer: Social responsibility of business towards its employees: It is important because they are the wheels of an organization. Without their support, the commercial institution simply can’t function or operate. If a business takes care of the needs of its human resource (for e.g. office staff, employees, workers, etc.) wisely, it will boost the motivation and working spirit within an organization. A happy employee usually gives his best to the organization in terms of quality labour and timely output than an unsatisfied one. A pleasant working environment helps in improving the efficiency and productivity of working people. A good remuneration policy attracts new talented professionals who can further contribute to its growth and expansion.Thus, if personnel are satisfied, then they will work together very hard and aid in increasing the production, sales and profit. Social responsibility of business towards its consumers or customers: It matters a lot from sales and profit point of view. Its success is directly dependent on their level of satisfaction. Higher their rate of satisfaction, greater is the chances to succeed. If a business rolls out good-quality products and/or delivers better quality services that too at reasonable prices, then it is natural to attract lots of customers. If the quality- price ratio is maintained well and consumers get worth for their money spends, this will surely satisfy them. In the long run, customer loyalty and retention will grow, and this will ultimately lead to profitability.

Question 9. Describe the obligations of business towards owners and shareholders . Answer: Social responsibility of business towards its shareholders or investors is most important of all other obligations. If a business satisfies its investors, they are likely to invest more money in a project. As a result, more funds will flow in and the same can be utilized to modernise, expand and diversify the existing activities on a larger scale. Happy financiers can fulfill the rising demand of funds needed for its growth and expansion.

They need to give a fair return to shareholders.
They need to give true and fair information to shareholders.
They need to give them proper opportunity to participate.

Question 10. Which eight problems have been identified by the United Nations which cause damage to natural environment? Answer: Following eight problems have been identified by the United Nations which cause damage to natural environment: 1. Ozone depletion 2. Global warming 3. Fresh water quality and quantity 4. Deforestation 5. Land degradation 6. Solid and hazardous waste 7. Water pollution 8. Danger to biological diversity.

III. Long Answer Type Questions Question 1. Social responsibility is not an area of business. Do you agree? Justify. Answer: It can be justified by considering case for and case against social responsibility: The case in favour of taking up social responsibilities.

Existence and growth: Business enterprises exist to make profits by providing goods and services to consumers. Thus, we can say that their long-term growth prospect depends not only on their profits but also on how efficiently they serve the society. Therefore, taking up social responsibilities supports the existence and growth of a business enterprise.
Avoidance of government intervention: Business enterprises should always work in line with society’s values and ethics. This would help them fulfill their social responsibilities, which in turn would make them less prone to government intervention.
Better environment for doing business: Businesses make use of society’s resource of human capital. Thus, by providing employment to people, they help solve the social problems of unemployment and poverty, thereby creating a favorable environment for business.

The case against taking up social responsibilities:

Violation of profit maximization objectives: It is argued that a business enterprise exists to make a profit. Thus, if it engages itself in solving social problems, then it may not have enough resources to meet its primary objective of profit maximization.
Burden on consumers : It is argued that when a business enterprise is engaged in solving social problems such as environment pollution and unemployment, its expenditures increase. This increased financial burden is ultimately passed on to the consumers in the form of higher prices of products.
Lack of social skills: Business persons are basically trained to solve business- related problems such as minimizing cost, maximizing profits and increasing sales. However, they are not specialised in solving social problems. Thus, it is argued that social problems must be solved only by specialised agencies, which have the required training and skills.

Question 2. Explain the need for social responsibility. Answer: Need of social responsibility is essentially a moral question because it can be answered differently by different people depending on what is right and what is wrong for a person. Social responsibility is needed to be followed because:

Showing a true commitment: The most successful corporate social responsibility programmes integrate these two types of CSR together to show a true commitment to a cause. For example, a company that uses sustainable materials in their products, donates financial resources to environmental causes, and allows employees to take paid time off for volunteering at environmental charities would be showing a true commitment to the environment that goes beyond any single CSR initiative.
Social media visibility: One of the reasons that corporations should have visible CSR campaigns is due to the importance and prevalence of social media. Corporations that want to protect their brand understand that social media is an integral part of public perception. When a corporation exercises social responsibility in the form of fund raising or setting up employee giving programmes, using social media to promote these actions helps to create a positive branding environment and it is a great way to engage with your audience on a deeper level that goes beyond your products or services.
Public relations benefits: Public relations is a potent tool for shaping consumer perception and building a company’s image. Corporations that actively promote their social responsibility activities often take steps to publicise these efforts through the media. Getting the word out about corporate donations, employee volunteer programmes, or other CSR initiatives is a powerful branding tool that can build publicity for you in both online and print media.
Government relations: Corporations that put an emphasis oh corporate social responsibility typically have an easier experience when dealing with politicians and government regulators. In contrast, businesses that present a reckless disregard for social responsibility tend to find themselves finding off various inquiries and probes, often brought on*at the insistence of public service organizations. The more positive the public perception is that a corporation takes social responsibility seriously, the less likely it is that activist groups will launch public campaigns and demand government inquiries against it.
Building a positive workplace environment: Finally, one of the greatest benefits of promoting social responsibility in the workplace is the positive environment you build for your employees. When employees and management feel they are working for a company that has a true conscience, they will likely be more enthusiastic and engaged in their jobs. This can build a sense of community and teamwork which brings everyone together and leads to happier, more productive employees.

Question 3. What is corporate social responsibility? Is it similar to business ethics? Answer: The World Business Council for Sustainable Development in its publication Making Good Business Sense by Lord Holme and Richard Watts, used the following definition. Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large. The same report gave some evidence of the different perceptions of what this should mean from a number of different societies across the world. Definition: CSR is about capacity building for sustainable livelihoods. It respects cultural differences and finds the business opportunities in building the skills of employees, the community and the Government from Ghana, through to CSR is about business giving back to society from the Philippines. Traditionally in the United States, CSR has been defined much more in terms of a philanthropic model. Companies make profits, unhindered except by fulfilling their duty to pay taxes. Then they donate a certain share of the profits to charitable causes. It is seen as tainting the act for the company to receive any benefit from the giving. It is not same as business ethics. Business ethics is a personal concept and is wider in many senses than CSR.

Question 4. Why should a business do any thing for society at large? Answer: The term “Corporate Social Responsibility” is still widely used even though related concepts, such as sustainability, corporate citizenship, business ethics, stakeholder management, corporate responsibility, and corporate social performance, are vying to replace it. In different ways, these expressions refer to the ensemble of policies, practices, investments, and concrete results deployed and achieved by a business corporation in the pursuit of its stakeholders’ interests. There is no single CSR business case—no single rationalisation for how CSR improves the bottom line. Over the years, researchers have developed many arguments. In general, these arguments can be grouped based on approach, topics addressed, and underlying assumptions about how value is created and defined. According to this categorization, CSR is a viable business choice as it is a tool to:

implement cost and risk reductions;
gain competitive advantage;
develop corporate reputation and legitimacy; and
seek win-win outcomes through synergistic value creation.

Question 5. Explain the reality of social responsibility. Answer: In reality, social responsibility receives only lip service. Some business houses fulfill its legal responsibility in the name of social responsibility. There are some factors and reasons which have forced and persuaded business organizations to fulfill their social responsibility which are as follows:

Threat of public regulation: India is a democracy where Government is expected to be welfare state. If any business organization acts in a socially irresponsible manner, then an action may be taken against them to safeguard people’s interest. In reality, business houses do not assume their social responsibility on their own but due to threat of public action.
Pressure of labour movement: In the last century, labour movement for extracting gains for the working class throughout the world has become powerful. Labour laws are also followed not out of a sense of social responsibility but because of increasing pressure of labour movement.
Impact of consumer consciousness: Consumers are also becoming aware of their rights since enactment of Consumer Protection Act, 1986. Under this Act, consumers are entitled to file a case if he is cheated in any ways.
Development of social standard for business: As per new social standards, a business is considered to be legitimate only if it fulfills its social responsibilities. No business can be done in isolation with the society. The performance of a business is judged on social standards.
Development of business education: Nowadays businessmen are professionally qualified due to changing pattern of form of business. It is also making it socially more responsible. Education has made people more conscious as employees, customers, investors and owners.
Relationship between social interest and business interest: Businessmen are able to find that social interest and business interest are correlated. The concept which existed earlier that no business can grow without exploitation of others does not exist any more.
Development of professional, managerial class: Professional management is also educated of the benefits it can get by fulfilling its social responsibility. Professional managers are more interested in satisfying a multiple group of interest groups in society for running their enterprises successfully than attaining goal of profit maximization only.

Question 6. “A business owes curtain obligations towards different groups.” Identify those groups and explain the obligation of business towards those groups. Or 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. If a business satisfies its funders, they are likely to invest more money in a project. As a result, more funds will flow in and the same can be utilised to modernize, expand and diversify the existing activities on a larger scale. Happy financiers can fulfill the rising demand of funds needed for its growth and expansion.
Personnel: Social responsibility of business towards its personnel is important because they are the wheels of an organization. Without their support, the commercial institution simply can’t function or operate. If a business takes care of the needs of its human resource (for e.g. of office staff, employees, workers, etc.) wisely, it will boost the motivation and working spirit within an organization. A happy employee usually gives his best to the organization in terms of quality labour and timely output than an unsatisfied one. A pleasant working environment helps in improving the efficiency and productivity of working people. A good remuneration policy attracts new talented professionals who can further contribute in its growth and expansion. Thus, if personnel are satisfied, then they will work together very hard and aid in increasing the production, sales and profit.
Consumers or customers: Social responsibility of business towards its consumers or customers matters a lot from sales and profit point of view. Its success is directly dependent on their level of satisfaction. Higher their rate of satisfaction greater is the chances to succeed. If a business rolls out good-quality products and/or delivers better quality services that too at reasonable prices, then it is natural to attract lots of customers. If the quality-price ratio is maintained well and consumers get worth for their money spends, this will surely satisfy them. In the long run, customer loyalty and retention will grow, and this will ultimately lead to profitability.
Government: Social responsibility of business towards government’s regulatory bodies or agencies is quite sensitive from the license’s point of view. If permission is not granted or revoked abruptly, it can result in huge losses to an organization. Therefore, compliance in this regard is necessary. Furthermore, a business must also function within the demarcation of rules and policies as formulated from time to time by the government of state or nation. It should respect laws and abide by all established regulations while performing within the jurisdiction of state. Some examples of activities a business can do in this regard: (a) Licensing an organization, (b) Seeking permissions wherever necessary, (c) Paying fair taxes on time, (d) Following labour, environmental and other laws, etc. (e) If laws are respected and followed, it creates goodwill of business in the eyes of authorities. Overall, if a government is satisfied it will make favourable commercial policies, which will ultimately open new opportunities and finally benefit the organization sooner or later. Therefore, satisfaction of government and local administrative bodies is equally important for legal continuation of business.
Local community: Social responsibility of business towards the local community of its established area is significant. This is essential for smooth functioning of its activities without any agitations or hindrances. A business has a responsibility towards the local community besides which it is established and operates from. Industrial activities carried out in a local area affect the lives of many people who reside in and around it. So, as a compensation for their hardship, an organization must do something or other to alleviate the intensity of suffering. (a) As a service to the local community, a business can build. (b) A trust-run hospital or health centre for local patients. (c) A primary and secondary school for local children. (d) A diploma and degree college for local students. (e) An employment centre for recruiting skilled local people, etc. Such activities to some extent may satisfy the people that make local community and hence their changes of agitations against an establishment are greatly reduced. This will ensure the longevity of a business in the long run.
Environment: Social responsibility of business with respect to its surrounding environment can’t be sidelined at any cost. It must show a keen interest to safeguard and not harm the vitality of the nature. A business must take enough care to check that its- activities don’t create a negative impact on the environment. For example, dumping of industrial wastes without proper treatment must be strictly avoided. Guidelines as stipulated in the environmental laws must be sincerely followed. Lives of all living beings are impacted either positively or negatively depending on how well their surrounding environment is maintained (naturally or artificially). Humans also are no exception to this. In other words, health of an environment influences the health of our society. Hence, environmental safety must not be an option else a top priority of every business.
Community: Finally, social responsibility of business in general can also contribute to make the lives of people a little better.
Some examples of services towards public include: (a) Building and maintaining devotional or spiritual places and gardens for people, (b) Sponsoring the education of poor meritorious students, (c) Organizing events for a social cause, etc. (d) Such philanthropic actions create a goodwill or fame for the business organization in the psyche of general public, which though slowly but ultimately pay off in the due course of time.

IV. Higher Order Thinking Skills (HOTS) Question 1. “Like an individual, business enterprise should also be a loyal citizen to the state.” Discuss. Answer: It has been rightly said that like an individual, a business enterprise should also be a loyal citizen to the state. Therefore, it has to be kept in mind.

Social needs of our country while deciding on what goods and services are to be produced. Therefore, a businessman in India must prefer necessities to cosmetics and dog food in a country like India where 26% people are below poverty line.
Production of liquor, tobacco and other undesirable products should be avoided.
Production method should be used. If a country is labour abundant, the business should give preference to labour intensive techniques.

Question 2. Describe the reality of social responsibilities of a company. Answer: The biggest problem with CSR is not that it has limitations, nor is it concerning its questionable ability to sufficiently address the problems it intends to ameliorate. Rather, it is the fact that it takes people to a completely wrong direction. For many large corporations, CSR is primarily a strategy to divert attention away from the negative social and environmental impacts of their activities. In the Asian context, CSR mostly involves activities like adopting villages for what they call a ‘holistic development’, in which they provide medical and sanitation facilities, build school and houses, and helping villagers become self-reliant by teaching them vocational and business skills. Such corporate strategies have been effectively hegemonic, providing a strong legitimacy and license for corporations to sustain the exploitation of human and natural resources. More importantly, it leads people to wrongly assume that the business houses, and not the states, are responsible for citizens’ basic rights to better education, clean water, healthcare, etc. It disciplines the uninformed poor motivating them to behave in ways that make state regulation obsolete, while leaving them at the mercy of market forces.

Question 3. Business ethics and social responsibility are not synonyms but are closely related. Substantiate. Answer: Business ethics and social responsibility are the words that are almost used as a common parlance interchangeably. While social responsibility is self explanatory, ethics is a word that puts one in a dilemma. Social responsibility looks clearly defined and demarcated. Companies have a policy of social responsibility known as Corporate Social Responsibility whereby they commit to follow their businesses in such a way so as to benefit the community at large. But ethics is a loose term that is dependent upon a person’s conscience. There are certain differences between the two and the two are not overlapping completely. Business Ethics To understand business ethics, first we need to understand and spell out clearly the word ‘ethics’. Derived from ancient Greek word ethos, ethics has come to mean moral character. Ethical behaviour is what is good or right. Ethical senses always make use of good, bad, right and wrong. Applying this definition to business, we come to a conclusion that though the primary objective of any business or company is to maximize by the decisions taken by the company for the operation of business. Business ethics is the behaviour of any business that it indulges in its dealings with the community or society. For some, making money is all they are interested in, and this is capitalism in its dirtiest form. These people are least concerned with the bad effects of their business practices and the harm they are doing to the society at large. When companies do not engage in good business ethics, they are penalised by the law. But such cases are rare and the profits of companies engaging in unethical behaviour are far more than these punitive fines. Social Responsibility Man is a social animal and cannot live in isolation. He is expected to behave in a manner that is socially and morally acceptable to others. The same applies to businesses. Though the primary objective of any business is to earn maximum profits for the owners and shareholders, it is also expected to conduct its operations in a manner that it fulfills its social obligations also. For example, though it is not binding on any private sector company to provide employment to the disabled or weaker sections of the society, it is considered to be a part of the social responsibility of the company to absorb people from such sections of the society. Similarly though there is not written law to compel a company to engage in acts to do something to reduce pollution or to do something for the betterment of environment, taking up projects to clean up environment are considered to be a part of the social responsibility of the company. Difference between Business Ethics and Social Responsibility Though business ethics and social responsibility seem to be overlapping, there has always been a contradiction between the two.

Companies, though they are committed to be socially responsible for their behaviour have been found to be engaging in acts that cannot be called ethical.
What is good for the society is sometimes not good for the business, and what is good for the business is almost always not good for the society.
If the society is conscious, it responds in such a way that businesses are forced to behave responsibly. The same applies to the administration and the judiciary of any country.
For example, selling of liquor and tobacco in any society is not against business ethics though it may be against the principles of social responsibility. The same applies to lotteries and gambling. But it is certainly against business ethics as well as against social responsibility to entice minors to engage in smoking and drinking.

V. Value Based Questions Question 1. If you start a business, which objective will be of utmost importance to you and why? Answer: If I start my own business, my social objectives will be of utmost importance to me because:

It will create employment opportunities in the economy. I will make use of such methods which are desirable from society point of view.
It will help me to provide good quality product at reasonable prices to my customers.
It will keep environment pollution free.
When I will concentrate on these objectives. It will satisfy my consumers and employees. Consumer satisfaction will lead to improvement in my goodwill and market standing. Employee satisfaction will lead to increase in productivity. These two factors will increase profits in the long run automatically.

Question 2. What do you mean by the principle derived from social values which guide and govern the conduct of businessmen? Explain the factors governing these principles and values. Answer: Social Return on Investment (SROI) is a principle based method for measuring extra-financial value (i.e., environmental and social value not currently reflected in conventional financial accounts) relative to resources invested. It can be used by any entity to evaluate impact on stakeholders, identify ways to improve performance, and enhance the performance of investments. A network was formed in 2006 to facilitate the continued evolution of the method. Over 570 practitioners globally are members of the SROI Network. The SROI method as it has been standardized by the SROI Network provides a consistent quantitative approach to understanding and managing the impact of a project, business, organisation, fund or policy. It accounts for stake holders views of impact, and puts financial ‘proxy’ values on all those impacts identified by stakeholders which do not typically have market values. The aim is to include the values of people that are often excluded from markets in the same terms as used in markets, that is money, in order to give people a voice in resource allocation decisions. Some SROI users employ a version of the method that does not require that all impacts be assigned a financial proxy. Instead the “numerator” includes monetized, quantitative but not monetized, qualitative, and narrative types of information about value. Benefits that cannot be Monetized: There will be some benefits that are important to stakeholders but which cannot be monetized. An SROI analysis should not be restricted to one number, but seen as a framework for exploring an organization’s social impact, in which monetization plays an important but not an exclusive role. Focus on Monetization: One of the dangers of SROI is that people may focus on monetization without following the rest of the process, which is crucial to proving and improving. Moreover, an organisation must be clear about its mission and values and understand how its activities change the world – not only what it does but also what difference it makes. This clarity informs stakeholder engagement. Therefore, if an organisation seeks to monetize its impact without having considered its mission and stakeholders, then it risks choosing inappropriate indicators; and as a result the SROI calculations can be of limited use or even misconstrued. Needs considerable Capacity: SROI is time and resource, intensive. It is most easily used when an organisation is already measuring the direct and longer term results of its work with people, groups, or the environment. Some outcomes not easily associated with monetary value: Some outcomes and impacts (for example, increased self-esteem, improved family relationships) cannot be easily associated with a monetary value. In order to incorporate these benefits into the SROI ratio proxies for these values would be required. SROI analysis is a developing area and as SROI evolves it is possible that methods of monetizing more outcomes will become available and that there will be increasing number of people using the same proxies.

Question 3. “The business is responsible for aggravating pollution, so it becomes the moral duty of businessmen to take some positive steps for controlling this problem.” In the light of this statement explain the role of businessmen in checking pollution. Answer: The statement is perfectly correct. In this regard, a businessman can play the following role:

He may ensure that he makes use of eco friendly methods of production as far as possible.
He may ensure that in case any pollution occurs, the waste is discharged in proper manner as per the provisions of pollution control boards.
He may also create awareness amongst employees on how can they minimize this pollution by initiating workshops, seminars etc.

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Social Responsibilities of Business and Business Ethics Class 11 Notes Business Studies

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Social Responsibilities of Business and Business Ethics class 11 Notes Business Studies

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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 efforts on the part of the businessmen to contribute to the social well being. The businessmen make use of resources of society and earn money from the members of society so they must do something for the society.

Arguments in favour of Social Responsibility :

There is a need for Social Responsibility of business for Existence and Growth:

1. Justification for Existence and Growth : Business is the creation of society therefore it should respond according to the demands of the society. To survive and grow in society for long run the business must provide continuous services to the society.

2. Long term Interest of the firm : A firm can improve its image and builds goodwill in the long run when its highest goal is to serve the society . If it indulges in unfair Trade Practices e.g. adulteration, hoarding, black marketing, it may not be able to exist for long.

3. Avoidance of government regulations : Business can avoid the problem of government regulations by voluntarily assuming social responsibilities.

4. Availability of resources with business : Business has valuable financial and human resources which can be effectively used for solving problems of the society.

5. Better environment for doing business : It is the social responsibility of business enterprise to provide better Quality of life and standard of living to people. So, business will get better community to conduct business.

6. Contribution to social problems : Some of the social problems have been created by business firms themselves such as pollution, creation of unsafe workplaces, discrimination etc, Therefore, it is the moral obligation of business to solve such social problems.

Arguments Against Social Responsibility

Major arguments against social responsibility are:

1. Profit Motive – A business is an economic entity that is guided by profit motive. It should not waste its energies and resources in fulfilling social responsibility.

2. Burden on consumers – Involvement of business in social responsibilities involve a lot of expenditure which will ultimately be borne by the customers.

3. Lack of Social Skills -The business firms and managers have the skills to handle business operation. They are not expert to tackle the social problems like poverty, over population etc. Therefore, social problems must be tackled by social experts.

4. Lack of public support – Generally public does not like business involvement in social problems. Therefore, business cannot fulfill social responsibility because of lack of public confidence & cooperation.

SOCIAL RESPONSIBILITY TOWARDS DIFFERENT INTEREST GROUPS

2. Responsibility Towards workers: (i) Providing fair compensation and benefits, (ii) Providing good and safe Working conditions, (iii) To develop a sense of belongingness.

3. Responsibility toward consumers: (i) To supply right quality of goods & services at reasonable prices. (ii) To ensure regular and adequate supply of products. (iii) To inform them about new products and new uses of existing products. (iv) To handle the customers grievance promptly.

4. Responsibility Towards Government – (i) To pay taxes honestly (ii) To observe rules laid down by the government, (iii) to avoid corrupting government employees.

5. Responsibility towards community – (i) To make available opportunities for employment, (ii) To avoid polluting the environment, (iii) To up lift the weaker sections of society

BUSINESS AND ENVIRONMENTAL PROTECTION:

Meaning of Environment: The environment is defined as the totality of man’s surroundings – both natural and man-made. Natural Resources-all land, water, air and man-made – cultural heritage, socio-economic institutions and the people.

Meaning of Environmental pollution – It means injection of harmful substances into the environment. The greatest problem that industries and businessmen are creating is that of pollution – which is the result of industrial production. So, protection of environment is must.

Causes of Pollution: Many industrial organizations have been responsible for causing air, water, land and noise pollution.

1. Air Pollution – Due to smoke, chemical emitted by factories, vehicle. It has created a hole in the ozone layer leading to global warming.

2. Water pollution – Due to chemicals and waste dumped into the rivers, streams & lakes. It has led to the death of several aquatic animals and posed a serious problem to human life.

3. Land Pollution – Due to dumping of garbage and toxic wastes which affect the fertility of land and makes it unfit for agriculture.

4. Noise Pollution : Caused by the running factories and vehicles. Noise pollution can be responsible for many diseases like loss of hearing, violent behaviour and mental disorder.

NEED EOR POLLUTION CONTROL

1. To ensure healthy life – Many diseases like cancer, heart attack and lung complications all caused by pollutants in the environment. Pollution control is must to keep a check on these diseases.

2. To ensure safety – Due to environmental pollution and smoke, the visibility is reducing due to which chances of accidents have been increasing. To reduce the number of accidents there must be a check on pollution.

3. Economic Losses : Pollutants in the environment bringing heavy economic losses for the country, for example Taj Mahal is losing its beauty due to pollution.

4. Improved Public Image : A firm that adopts pollution control measures enjoys a good reputation as a socially responsible enterprise.

ROLE OF BUSINESS ENVIRONMENTAL PROTECTION:

1. Eco-friendly and clean or low waste technology should be used by industrial organization. 2. Industrial Wastes should be recycled as far as possible. 3. Plant and machinery should be modernized to minimize pollution. 4. The business houses should comply with the laws and regulations enacted for prevention of pollution. 5. Positive steps should be taken to save environment. These include plantation of trees, cleaning of rivers, ponds etc.

BUSINESS ETHICS: Refers to the moral values or standards or norms which govern the activities of a businessman. Ethics define what is right and what is wrong. By ethic we mean the business practices which are desirable from the point of view of Society. The purpose of business ethics is to guide the managers and employees in performing their job. Example of business ethics are charging fair price from customers, giving fair treatment to workers, earning reasonable profits and paying taxes tithe government honestly.

ELEMENTS OF BUSINESS ETHICS

1. Top management commitment – The CEO and higher level managers must be committed to ethical norms of behavior. This would set an example for all employers and encourage them to follow ethical practice.

2. Publication of code – Code of ethics is a formal written document of the principles, values and standards that guide a firms actions. It may cover areas like honesty, quality, safety, health care etc.

3. Establishment of compliance mechanism : A suitable mechanism should be developed to comply with the ethical standards of the enterprise. The mechanism should be properly communicated to all in the organization.

4. Employee involvement : It is the employees of the lower levels who implement ethical principal so they must be involved in the process of developing ethical code.

5. Measuring results : Although it is difficult to measure the ethical results but it must be verified and audited that have for work is being carried according to ethical standards.

CBSE Class 11 Revision Notes and Key Points

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Emerging Modes of Business class 11 Notes Business Studies
Private, Public and Global Enterprises class 11 Notes Business Studies
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CBSE Class 11 Business Studies Chapter 6 – Social Responsibilities of Business and Business Ethics Class 11 Notes

Social Responsibilities of Business and Business Ethics Class 11 Revision Notes

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. Meanwhile, we will be learning about CSR too. Then, we will study the four kinds of social responsibility. Thus, we will study economic, legal, ethical & discretionary responsibility. Furthermore, we will study about social responsibility towards different interest groups. These would include responsibility towards the shareholders or owners, workers. Also, responsibility towards the consumers, government and community.

Then, we will focus on a serious issue i.e. protection of the environment. Thus, we will understand the causes of pollution and the need for pollution control. Moreover, we will study the role of Business in Environmental Protection. Here, we will also study some of the steps that they can take to control pollution. Finally, we will be studying the concept of Business Ethics and its elements. Thus, we will be able to learn how an enterprise can foster ethics in the workplace by following them.

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Sub-Topics Covered Under Social Responsibilities of Business and Business Ethics:

Social Responsibility : In this subtopic, we will cover the concept of social responsibility. Also, we will discuss the need for social responsibility. Also, we will study arguments for and against the same, etc.
Kinds of Social Responsibility : Here, we will study the four kinds of social responsibility. Hence, we will study economic, legal, ethical & discretionary responsibility.
Business Ethics and Environment Protection : We will study the concept of Business Ethics, its elements. Also, we will study pollution and the role of Business in Environmental Protection.

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CBSE Class 11 Business Studies Revision Notes

CBSE Class 11 Business Studies Chapter 4 – Business Services Class 11 Notes
CBSE Class 11 Business Studies Chapter 3 – Private, Public and Global Enterprises Class 11 Notes
CBSE Class 11 Business Studies Chapter 11 – International Business Class 11 Notes
CBSE Class 11 Business Studies Chapter 10 – Internal Trade Class 11 Notes
CBSE Class 11 Business Studies Chapter 9 – Small Business Class 11 Notes
CBSE Class 11 Business Studies Chapter 8 – Sources of Business Class 11 Notes
CBSE Class 11 Business Studies Chapter 7 – Formation of a Company Class 11 Notes

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NCERT Books

NCERT Books for Class 11 Business Studies PDF Download in English & Hindi Medium

NCERT Books Class 11 Business Studies: The National Council of Educational Research and Training (NCERT) publishes Business Studies textbooks for Class 11. The NCERT Class 11th Business Studies textbooks are well known for it’s updated and thoroughly revised syllabus. The NCERT Business Studies Books are based on the latest exam pattern and CBSE syllabus.

NCERT keeps on updating the Business Studies books with the help of the latest question papers of each year. The Class 11 Business Studies books of NCERT are very well known for its presentation. The use of NCERT Books Class 11 Business Studies is not only suitable for studying the regular syllabus of various boards but it can also be useful for the candidates appearing for various competitive exams, Engineering Entrance Exams, and Olympiads.

NCERT Class 11 Business Studies Books in English PDF Download

NCERT Class 11 Business Studies Books are provided in PDF form so that students can access it at any time anywhere. Class 11 NCERT Business Studies Books are created by the best professors who are experts in Business Studies and have good knowledge in the subject.

NCERT Books for Class 11 Business Studies – English Medium

Chapter 1 Nature and Purpose of Business
Chapter 2 Forms of Business Organisation
Chapter 3 Private, Public and Global Enterprises
Chapter 4 Business Services
Chapter 5 Emerging Modes of Business
Chapter 6 Social Responsibilities of Business and Business Ethics
Chapter 7 Formation of a Company
Chapter 8 Sources of Business Finance
Chapter 9 Small Business
Chapter 10 Internal Trade
Chapter 11 International Business-I
Chapter 12 International Business-II

Class 11 Business Studies NCERT Book PDF Download

NCERT Books for Class 11 Business Studies – Hindi Medium

Chapter 1: व्यवसाय, व्यापार और वाणिज्य
Chapter 2: व्यावसायिक संगठन के स्वरुप
Chapter 3: निजी, सार्वजानिक एवं भूमंडलीय उपक्रम
Chapter 4: व्यावसायिक सेवाएँ
Chapter 5: व्यवसाय की उभरती पद्यतियाँ
Chapter 6: व्यवसाय का सामाजिक उत्तरदायित्व एवं व्यावसायिक नैतिकता
Chapter 7: कंपनी निर्माण
Chapter 8: व्यावसायिक वित्त के स्रोत
Chapter 9: लघु व्यवसाय एवं उघमिता
Chapter 10: आंतरिक व्यापार
Chapter 11: अंतर्राष्ट्रीय व्यापार

Class 11 Business Studies NCERT Book in Hindi PDF Download

The NCERT syllabus mainly focuses on this book to make it student-friendly to make it useful for both the students and the competitive exam aspirants. The book covers a detailed Business Studies based on the syllabuses of various boards. NCERT Business Studies Books for Class 11 is perfectly compatible with almost every Indian education state and central boards.

We hope that this detailed article on NCERT Books Class 11 Business Studies helps you in your preparation and you crack the Class 11 exams or competitive exams with excellent scores.

Important Questions for CBSE Class 11 Business Studies (2024-25)

Class 11 Important Question
Business Studies

CBSE Class 11 Business Studies Important Questions - Free PDF Download

Class 11 is the introduction of higher secondary education for the students. For commerce students, business study is an essential subject. They should read this subject sincerely for better higher education. Class 11 business studies syllabus contains vital topics. The students should read the syllabus including important questions for class 11 business studies. The chapter wise important questions are essential exam preparation tools, which will help in scoring good marks. In Class 11 , students are introduced to the commerce subjects, which they will have to study in their higher academic life.

Class 11 Business Studies comprises eleven chapters that cover important topics. These topics need the highest attention from the students to prepare. To assess their preparation level, they can download and solve the Class 11 Business Studies term 2 Important Questions with Solutions developed by the subject experts of Vedantu. Find the solutions to these questions and take a step ahead in your preparation.

CBSE Class 11 Business Studies Chapter-wise Important Questions 2024-25

CBSE Class 11 Business Studies - Important Questions

Part - A

Part - B

Chapterwise Important Questions for CBSE Class 11 Business Studies

Class 11 Business Studies Syllabus

Central Board of Secondary Education (CBSE) has included business studies as a vital subject in the class 11 commerce curriculum. The syllabus of business studies includes introductory chapters of some vital topics. The students will get primary knowledge about some vital topics of business studies. The entire syllabus of business studies is divided into part A and part B. Part A is about business foundation knowledge, which contains 6 different units. Part B is about trading and financial knowledge contains 4 units. Each part of the syllabus carries equal division for the exam. The students should read both parts with equal sincerity. They should learn all the topics thoroughly for future convenience and good marks in the final exam. To score well in the exam, they should practice class 11 business studies important questions after completing the entire syllabus.

Class 11 Business Studies Part A

The first part of class 11 business studies includes 6 units about the foundation of the business. The units of part A are Business Evolution and Fundamentals, Different forms of Business Organizations, private, public and multinational business companies, service of business, Business emerging Modes, Business Ethics and Social Responsibility in Business. Here, we have discussed the units briefly.

1. Unit 1: Business Evolution And Fundamentals

The first unit has 8 chapters, which are commerce and trading history of India, definition, and characteristic of business, Profession and Employment concept of Business, Business Objective, Business Activity classification (commerce and industry), Industry Types in Business, the meaning of commerce-trade, Risk concept of Business. All these chapters are important for knowing the subject primarily.

2. Unit 2: Different Forms of Business Organizations

This unit contains 6 chapters about business organization. The chapters are the concept of a sole proprietorship, the concept of partnership, the concept of partnership, the concept of Hindu Undivided Family Business, concept of cooperative society, concept, and classification of company, stages of company Formation.

3. Unit 3: Private, Public, and Multinational Business Companies

The third unit of part business studies class 11 has two chapters. The chapters are the concept and difference of private and public sector, different forms of the public sector. This unit gives an idea of business sector types to the students.

4. Unit 4: Service of Business

This unit includes 3 different chapters about business services. The chapters of this unit are concepts of banking and account types, different forms of banking services and payments, concept and classification of Insurance. All these chapters include primary knowledge of different business services.

5. Unit 5: Business Emerging Modes

This unit has only one chapter about business emerging modes, which is E-business. In this chapter, the concept, features, benefits, and scopes of E-business are described in detail. The students should read this chapter as a vital topic for better knowledge of business studies.

6. Unit 6: Business Ethics And Social Responsibility In Business

The last unit of part A class 11 business studies includes 4 chapters. The chapters are the concept of social responsibility, case of social responsibility, different forms of business responsibility, the role of business in environment protection. The chapters of this unit inform about the ethics and responsibilities of business.

Class 11 Business Studies Part B

The second part of the class 11 business studies syllabus is about trading and financial knowledge business. This part contains four units about trading and financial knowledge. The units are Financial Source of Business, Enterprise, and small business, Internal trading, International Trading. All the units have many chapters. Here, we have discussed the units in a brief.

1. Unit 7: Financial Source of Business

The first unit of class 11 business studies part B has three chapters. The chapters are the concept of Finance in business, the concept of different business materials: owners’ funds, shares, receipts, the concept of borrowed funds. All three chapters give a rough idea of the financial sources and factors of the business.

2. Unit 8: Enterprise and Small Business

This unit has four different chapters about enterprise and small business. The chapters are concept and features of enterprise, classification of enterprise, the role of small business in India, Government schemes for enterprise and small business. The students should read these chapters for deep knowledge in business studies.

3. Unit 9: Internal Trading

This unit includes two chapters, which are the concept of internal trade and the concept of large-scale retailers. The first chapter defines the meaning and features of internal trading. In the second chapter, the students will learn about different stores on a large scale.

4. Unit 10: International Trading

The last unit of class 11 business studies part B has two chapters. In the first chapter, the students will learn the concept, features, and benefits of International Trading. The second chapter is the Definition and Objectives of the World Trade Organization (WTO). Both chapters are important for advancing knowledge in business studies.

Business Studies Class 11 Important Questions Chapter Wise

Class 11 business studies syllabus includes a huge number of chapters separated into different units. The students have to read all the chapters thoroughly to learn the topics correctly. They have to complete the entire syllabus and revise them within an academic year. That is why chapter wise important questions for class 11 business studies during revision. From the chapter wise important questions for class 11 business studies during revision. From the chapter wise important questions, the students will get a chapter insight as well as the question pattern. The chapter wise important questions will make the revision and exam preparation easier. Important questions for class 11 business studies are vital exam preparation tools.

Benefits of Important Questions for Class 11 Business Studies

The benefits of practicing chapter wise important questions are–

The students will get to know the question pattern.

The revision and exam preparation will be easier.

The students will achieve efficiency by practicing the questions repeatedly.

The students can practice the questions considering the time to increase time management capability.

Significance of CBSE Class 11 Business Studies term 2 Important Questions with Solutions

There are a total of 11 chapters in the Class 12 Business Studies syllabus . These chapters are based on important topics such as business, trade, commerce, modes of business, business services, company formation, international business, internal trade, etc.

The syllabus has been divided into two parts for the convenience of the students. To make the preparation of all the chapters on these two parts easier, students complete solving the exercises and then proceed to solve the important questions. These Important Questions for Class 11 Business Studies Board Exam have been framed by the top subject experts of Vedantu to cover the entire syllabus properly.

These questions come with proper solutions framed by the same experts to offer convenience in solving them. These solutions will aid the students to focus on the answering formats and how to use the concepts of this subject in a better way.

Hence, these important questions will enable students to test their preparation level and to find out how to solve fundamental questions to score more in the exams.

Advantages of CBSE Class 11 Business Studies Important Questions with Answers PDF

All 11 chapters have been approached individually to form separate files. These files can be found on the list here to download. Hence, you can add more convenience to your study sessions by accessing these files easily.

Resolve doubts on your own when you have the solutions for all these chapters here. These solutions will come in very handy when any query arises. You can answer those queries instantly and proceed with your preparation.

Focus on how the experts have used the simplest explanation of all the answers in the solutions. Learn from the formats and practice to answer all exam questions within the given time and score more.

Recall all the concepts and principles you have studied in these solutions easily and answer the questions accurately in an exam.

Solved Examples

1. Why is Insurance Known as the Tertiary Industry?

Solution: Insurance is a support service to the primary and secondary services. Tertiary industries are concerned with providing support services. The services are to primary and secondary industries as well as activities relating to trade, which provide service facilities. Therefore, insurance is known as the tertiary industry.

2. Categories the Following into Profession, Business, and Employment: Farmer, Clerk, Advocate, Hawker, Person Working in Repairing Shop, Doctor.

Farmer – Business

Clerk – Employment

Advocate – Profession

Hawker – Business

A person working in repairing shop – Employment

Doctor – Profession

3. Explain the Meaning of Unlimited Liability.

Solution: Unlimited liability refers to the indefinite extent of liability to pay a firm’s obligations, extending beyond the investments of the firm’s owners, partners, or shareholders to their assets. This extent of liability is supposed to be an unlimited liability company, which can be a sole proprietorship or general partnership.

4. A Special Act of Parliament Bought Which Public Sector Form Into Existence?

Solution: Statutory corporations are the special act of the parliament. The act defines its functions and powers, rules and regulations, and its relationship with departments of the government. They have the power of the government and a considerable amount of operating flexibility of private enterprises.

5. Define the Meaning of Banking.

Solution: A banking company is the one transacting the business of banking. It means accepting for investment and lending of deposits of money. The acceptance is from the repayable on demand, or the public, or otherwise and withdrawal by drafts, cheques, order, or otherwise. Basically, a bank accepts money repayable on demand, public, and also earns a profit by lending money.

6. Define Outsourcing.

Solution: Outsourcing is a long-term contracting out of the non-core and of late even some of the core activities. The captive or third-party specialists benefit from their experience, expertise, efficiency, and even investment.

7. Define the One Need for Social Responsibility.

Solution: A socially responsible company can create a company’s image and build its brand. By projecting a positive image, a company can make a name for not only being financially profitable but socially conscious as well.

8. What is the IEC Number?

Solution: ICE number refers to import export code number, which is obtained from the Directorate General Foreign Trade (DGFT) or Regional Import Export Licensing Authority. It is a prerequisite to obtaining an export license.

Download Class 11 Business Studies Important Questions with Answers PDF 2024-25

Get the free PDF versions of these questions for all the chapters. Focus on how you can make your preparation better by practising these questions. Learn to use the solutions and methods provided by the experts to grow your answering skills. Develop your concepts for Class 11 Business Studies and ace all the exams by becoming more confident.

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FAQs on Important Questions for CBSE Class 11 Business Studies (2024-25)

1. Explain 6 important factors that are to be considered for starting a business.

The 6 important factors that are to be considered for starting any business are as follows.

The Selection of Business Line: Select your business line wisely, that is, ensure the possibility of business growth and profitability when you select the nature and type of business.

The Size of the Business: Depending on the market demand and supply of your business products, select the size of your business. For high demands and fewer risk factors, select a large-scale business, and for high-risk factors select a small-scale business.

Choice of the Ownership Form: The type of ownership of your business depends on the line of business, capital requirements, legal formalities, the liability of owners, etc.

Location of the Business Firm: The location of the business firm depends upon the availability of labourers and raw materials.

Financing the Proposition: Financing the business proposition includes arranging the necessary capital for the business.

Physical Facilities: To start a business, it is important to check for the availability of machines, equipment, and other services.

Plant Layout: The layout of the business details has to be chalked out well in advance.

Competent Workforce: Arranging for a competent workforce is one of the basic necessities for starting a business. The growth of the business depends greatly on the workforce.

Tax Planning: Proper tax planning is necessary for every business, be it large-scale or small-scale.

Launching a Business Firm: With all the above factors taken care of, the business or the enterprise can be launched successfully.

2. What are the types of a service business?

There are three types of service businesses or enterprises, and they are as follows.

Micro Enterprises: The investment in the business equipment is within 10 lac rupees.

Small Enterprises: The investment in the business equipment is between 10 lacs and 2 crores rupees.

Medium Enterprises: The investment in the business equipment is between 2 and 5 crore rupees.

3. Give two advantages of supermarkets.

The two advantages of supermarkets are as follows.

Sales are all carried out in cash or cards, leaving no chances of debts.

A wider variety of goods are available in the supermarkets, making it more likely for the buyers to end up making a purchase.

4. Are the important questions for CBSE Class 11 Business Studies beneficial for exam preparation?

Yes, the important questions for CBSE Class 11 Business Studies available on Vedantu are highly beneficial for exam preparation. Our in-house team of subject matter experts has curated and prepared these questions and solutions after making a detailed study of the entire syllabus of Class 11 Business Studies. The important questions from each chapter are arranged in a separate PDF file, for the convenience of students. You can download these files for free from Vedantu and refer to them for effective learning. These important questions also make an excellent study material for the Class 11 Business Studies examination. Therefore, download the PDF files and revise all the topics of Class 11 Business Studies by referring to these important questions and answers.

5. Where can I get the list of Important Questions of Class 11 Business Studies?

When looking for important questions for Class 11 Business Studies, the best place to be at is Vedantu’s e-platform. Students can find accurately chosen and explained questions that are important to prepare before their Class 11 Business Studies exams. The solutions for these questions have been carefully crafted by subject experts at Vedantu. The important questions and their solutions can be downloaded free of cost by students for offline access. You can also easily access them from Vedantu’s website. These solutions are available at free of cost on Vedantu(vedantu.com) and mobile app.

6. What are the chapters covered in Important Questions for Class 11 Business Studies?

Important Questions for CBSE Class 11 Business Studies provided by Vedantu cover the following chapters:

Chapter 1 - Business, Trade and Commerce

Chapter 2 - Forms of Business Organisation

Chapter 3 - Private, Public and Global Enterprises

Chapter 4 - Business Services

Chapter 5 - Emerging Modes of Business

Chapter 6 - Social Responsibilities of Business and Business Ethics

Chapter 7 - Formation of a Company

Chapter 8 - Sources of Business Finance

Chapter 9 - Small Business

Chapter 10 - Internal Trade

Chapter 11 - International Business

7. How many books are there for Class 11 Business Studies?

The Central Board of Secondary Education (CBSE) prescribed only one book for Class 11 Business Studies. This book has been published by NCERT and it is available in both English and Hindi mediums. There are a total of 10 chapters in this book divided into two parts. Part A contains six units that discuss knowledge about the business foundation and part B consists of the remaining four units that talk about financial and trading knowledge.

8. What are the most important chapters in Class 11 Business Studies?

The syllabus for Class 11 Business Studies contains a total of 10 chapters. Out of these, the most important chapters are Chapter 7 - Sources of Business Finance, Chapter 8 - Small Business, Chapter 9 - Internal Trade, and Chapter 10 - International Business. These are considered important since they contain higher weightage than all other chapters in the syllabus. Students can refer to Important Questions for CBSE Class 11 Business Studies for better preparation of these chapters.

9. What is meant by Banking?

As discussed in Class 11 Business Studies, banking is the term given to all activities related to business that involve accepting and safekeeping money owned by other entities for the purpose of lending or investment. The money that is deposited is also repayable on demand or otherwise, and withdrawable by cheque, order, draft, etc. It is an important service facilitating the economy by offering people an opportunity to save.

Important Questions for CBSE Class 11

Cbse class 11 study materials, home tuitions in india.

NCERT Solutions for Class 11 Business Studies

Cbse class 11 business studies solutions guide.

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CBSE Class 11 Business Studies Textbook Solutions

Questions and answers for the Class 11 Business Studies Textbook are on this page. NCERT Solutions for Class 11 Business Studies Digest CBSE will help students understand the concepts better.

NCERT Solutions for Class 11 Business Studies Chapterwise List | Class 11 Business Studies Digest

The answers to the NCERT books are the best study material for students. Listed below are the chapter-wise NCERT Business Studies Class 11 Solutions CBSE.

• Chapter 1: Business, Trade and Commerce
• Chapter 2: Forms of Business Organisation
• Chapter 3: Private, Public and Global Enterprises
• Chapter 4: Business Services
• Chapter 5: Emerging Modes of Business
• Chapter 6: Social Responsibilities of Business and Business Ethics
• Chapter 7: Formation of a Company
• Chapter 8: Sources of Business Finance
• Chapter 9: Small Business and Entrepreneurship
• Chapter 10: Internal Trade
• Chapter 11: International Business
Commerce (English Medium) Class 11 CBSE
Arts (English Medium) Class 11 CBSE

NCERT Solutions for Class 11 Business Studies - Shaalaa.com

NCERT Class 11 solutions for other subjects

NCERT solutions for Biology Class 11
NCERT solutions for Biology Class 11 [जीव विज्ञान ११ वीं कक्षा]
NCERT solutions for Chemistry Part 1 and 2 Class 11
NCERT solutions for Chemistry Part 1 and 2 Class 11 [रसायन विज्ञान भाग १ व २ कक्षा ११ वीं]
NCERT solutions for Accountancy - Financial Accounting Class 11
NCERT solutions for Computer Science Class 11
NCERT solutions for Introductory Microeconomics - Textbook in Economics for Class 11
NCERT solutions for Economics - Statistics for Economics Class 11
NCERT solutions for Ncert Class 11 English (Core Course) - Hornbill
NCERT solutions for Ncert Class 11 English (Core Course) - Snapshots
NCERT solutions for Ncert Class 11 English (Elective Course) - Woven Words
NCERT solutions for Geography - Fundamentals of Physical Geography Class 11
NCERT solutions for Geography - India Physical Environment Class 11
NCERT solutions for Geography - Practical Work in Geography Class 11
NCERT solutions for Geography Class 11 [भूगोल - भौतिक भूगोल के मूल सिद्धांत ११ वीं कक्षा]
NCERT solutions for Ncert Class 11 History - Themes in World History
NCERT solutions for Ncert Class 11 Political Science - Indian Constitution at Work
NCERT solutions for Ncert Class 11 Political Science - Political Theory
NCERT solutions for Ncert Class 11 Psychology
NCERT solutions for Ncert Class 11 Sociology - Introducing Sociology
NCERT solutions for Ncert Class 11 Sociology - Understanding Society
NCERT solutions for Economics Class 11 [अर्थशास्त्र - अर्थशास्त्र में सांख्यिकी ११ वीं कक्षा]
NCERT solutions for Economics - Introductory Microeconomics Class 11 CBSE [अर्थशास्त्र - व्यष्टि अर्थशास्त्र एक परिचय परिचय ११ वीं कक्षा]
NCERT solutions for Geography Class 11 [भूगोल - भारत: भौतिक पर्यावरण ११ वीं कक्षा]
NCERT solutions for Geography Class 11 [भूगोल - भूगोल में प्रयोगात्मक कार्य ११ वीं कक्षा]
NCERT solutions for Hindi - Aaroh Class 11 [हिंदी - आरोह ११ वीं कक्षा]
NCERT solutions for Hindi - Antara Class 11 [हिंदी - अंतरा ११ वीं कक्षा]
NCERT solutions for Hindi - Vitan Class 11 [हिंदी - वितान ११ वीं कक्षा]
NCERT solutions for History Class 11 [इतिहास - विश्व इतिहास के कुछ विषय ११ वीं कक्षा]
NCERT solutions for Mathematics Class 11
NCERT solutions for Mathematics Class 11 [गणित ११ वीं कक्षा]
NCERT solutions for Physics Part 1 and 2 Class 11
NCERT solutions for Physics Class 11 (Part 1 and 2) [भौतिकी भाग १ व २ कक्षा ११ वीं]
NCERT solutions for Political Science Class 11 [राजनीति विज्ञान - भारत का संविधान सिद्धांत और व्यवहार ११ वीं कक्षा]
NCERT solutions for Political Science Class 11 [राजनीति विज्ञान - राजनीतिक सिद्धांत ११ वीं कक्षा]
NCERT solutions for Psychology Class 11 [मनोविज्ञान ११ वीं कक्षा]
NCERT solutions for Sanskrit - Bhaswati Class 11 [संस्कृत - भास्वती कक्षा ११]
NCERT solutions for Sanskrit - Sahitya Parichay Class 11 and 12 [संस्कृत - साहित्य परिचय कक्षा ११ एवं १२]
NCERT solutions for Sanskrit - Shashwati Class 11 [संस्कृत - शाश्वत कक्षा ११]
NCERT solutions for Sociology Class 11 [समाजशास्त्र - समाज का बोध ११ वीं कक्षा]
NCERT solutions for Sociology Class 11 [समाजशास्त्र - समाजशास्त्र परिचय ११ वीं कक्षा]

Chapters covered in NCERT Solutions for Class 11 Business Studies

Ncert solutions for class 11 business studies (11th) chapter 1: business, trade and commerce, ncert class 11 business studies (11th) chapter 1: business, trade and commerce exercises.

Exercise	No. of questions	Pages
	14	26
	11	26

NCERT Solutions for Class 11 Business Studies (11th) Chapter 2: Forms of Business Organisation

Ncert class 11 business studies (11th) chapter 2: forms of business organisation exercises.

Exercise	No. of questions	Pages
	9	56
	14	56
	3	56

NCERT Solutions for Class 11 Business Studies (11th) Chapter 3: Private, Public and Global Enterprises

Ncert class 11 business studies (11th) chapter 3: private, public and global enterprises exercises.

Exercise	No. of questions	Pages
	7	79
	5	80

NCERT Solutions for Class 11 Business Studies (11th) Chapter 4: Business Services

Ncert class 11 business studies (11th) chapter 4: business services exercises.

Exercise	No. of questions	Pages
	5	112
	5	112

NCERT Solutions for Class 11 Business Studies (11th) Chapter 5: Emerging Modes of Business

Ncert class 11 business studies (11th) chapter 5: emerging modes of business exercises.

Exercise	No. of questions	Pages
	6	109 to 140
	5	141

NCERT Solutions for Class 11 Business Studies (11th) Chapter 6: Social Responsibilities of Business and Business Ethics

Ncert class 11 business studies (11th) chapter 6: social responsibilities of business and business ethics exercises.

Exercise	No. of questions	Pages
	8	158 to 159
	7	159

NCERT Solutions for Class 11 Business Studies (11th) Chapter 7: Formation of a Company

Ncert class 11 business studies (11th) chapter 7: formation of a company exercises.

Exercise	No. of questions	Pages
	9	179 to 180
	5	180
	7	180

NCERT Solutions for Class 11 Business Studies (11th) Chapter 8: Sources of Business Finance

Ncert class 11 business studies (11th) chapter 8: sources of business finance exercises.

Exercise	No. of questions	Pages
	7	204 to 205
	7	205

NCERT Solutions for Class 11 Business Studies (11th) Chapter 9: Small Business and Entrepreneurship

Ncert class 11 business studies (11th) chapter 9: small business and entrepreneurship exercises.

Exercise	No. of questions	Pages
	4	227
	5	227

NCERT Solutions for Class 11 Business Studies (11th) Chapter 10: Internal Trade

Ncert class 11 business studies (11th) chapter 10: internal trade exercises.

Exercise	No. of questions	Pages
	9	255 to 256
	5	256

NCERT Solutions for Class 11 Business Studies (11th) Chapter 11: International Business

Ncert class 11 business studies (11th) chapter 11: international business exercises.

Exercise	No. of questions	Pages
	12	299
	12	299 to 300

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NCERT Class 11 Business Studies

NCERT Solutions for Business Studies Class 11

NCERT Solutions for Class 11 Business Studies provide a wide range of concepts and introduction to the subject that include all the questions provided in the NCERT books. Business Studies is a curriculum subject that adopts areas like marketing, accounting and economics. Its study amalgamates the concepts of finance, marketing, accountancy, economics and organisational studies. Business Studies is a comprehensive subject in Social Science, allowing the meticulous study of a span of skills, such as finance, organisation, accountancy, marketing and human resources management. Students can understand all of these without any confusion from the NCERT Class 11 Solutions at BYJU’S.

NCERT Solutions for Class 11 Business Studies chapter-wise is given below.




Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6

Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11

A study of business is an expanse of focus within an academic agenda taught at an academic establishment, which occurs mainly around some characteristics of the conduct of business at the community level, national or universal marketplace.

Students attain good scores in their examinations when they are provided with the best books. Some of the prominent best books are NCERT Solutions for Class 11 Business Studies. NCERT Class 11 syllabus is a valuable resource for students. Business Studies are taught in various countries like Argentina, Brazil, Canada, India, Ireland, Singapore, South Africa, the United Kingdom (UK), and Zimbabwe.

The above-mentioned is the syllabus for the Class 11 CBSE syllabus. For more solutions and study materials of NCERT Solutions for Class 11 Business Studies, visit BYJU’S or download the app for more information and the best learning experience.

Access and download NCERT Class 11 Books here.

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IMAGES

NCERT Solutions for Class 11 Business Studies Chapter 6 for 2022-2023
Ncert Solution For 11 Class Business Studies Chapter 6
NCERT Book Class 11 Business Studies Chapter 6 Social Responsibilities
NCERT Book Class 11 Business Studies Chapter 6 Social Responsibilities
NCERT solutions for Class 11 Business Studies chapter 6
NCERT Solutions for Class 11 Business Studies

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Class 11 Business Studies Case Study Questions
Here are some given case study questions for CBSE class 11 Business Studies. If you wish to get more case study questions and other study material, download the myCBSEguide app now.
NCERT Solutions for Class 11 Business Studies Chapter 6
NCERT Solution For Class 11 Business Studies Chapter 6 - Social Responsibilities of Business and Business Ethics includes all the questions provided in NCERT Books for 11th Class Business Studies subject. At BYJU'S, students have an option to download for free.
Case Studies of Bst Class 11 Ch
Name the following: (a) The economic activity showing a risk element and carried on profit. (b) The trade in which two countries are involved. (c) The trade in which goods are imported from one country for the purpose of exporting to other country. (d) The industry which involves breeding and reproduction of plants and animals.
CBSE 11th Standard CBSE Business Studies Case study Questions
CBSE 11th Standard CBSE Business Studies question papers, important notes , study materials , Previuous Year questions, Syllabus and exam patterns. Free 11th Standard CBSE Business Studies books and syllabus online. Practice Online test for free in QB365 Study Material. Important keywords, Case Study Questions and Solutions. Updates about latest education news and Scholorships in one place.
Important Questions for CBSE Class 11 Business Studies Chapter 6
Get Access to Important Questions for CBSE Class 11 Business Studies Chapter 6 Social Responsibilities of Business and Ethics prepared by subject experts from the latest edition. Practicing this set of questions for Class 11 Business Studies will help you understand every aspect of the chapter and help you score well in your exams.
Important Questions for CBSE Class 11 Business Studies Chapter 6
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 latest edition of CBSE (NCERT) books. Register for Online tuition on Vedantu.com to score more marks in CBSE examination.
CBSE Class 11 Business Studies Revision Notes Chapter 6 Social
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.
NCERT Solutions for Class 11 Business Studies
NCERT Solutions for Class 11 Business Studies NCERT Solutions for Business Studies Subject for Class 11 Students are given here. The 11th grade is an important milestone because it lays the foundation for your final board exams the next year. For students who plan to study commerce, Business Studies is an integral part of your syllabus.
NCERT Solutions For Class 11 Business Studies Social Responsibilities
Free PDF download of NCERT Solutions for Class 11 Business Studies Chapter 6 Social Responsibilities of Business and Business Ethics solved by Expert Teachers as per NCERT (CBSE) Book guidelines. All Chapter wise Questions with Solutions to help you to revise complete Syllabus and Score More marks in your examinations.
Important Questions Class 11 Business Studies Chapter 6 Social
Get the important questions with answers for CBSE Class 11 Business Studies Chapter 6 Social Responsibilities of a Business. At BYJU'S, students can download the study materials for free.
11th Cbse BST Bull's Eye Case Study Final
11th Cbse Bst Bull's Eye Case Study Final - Free download as PDF File (.pdf), Text File (.txt) or read online for free. 1) The document discusses several case studies related to different types of business activities and economic transactions. 2) Key topics covered include identifying primary, secondary and tertiary industries; causes of business risks like economic changes and human errors ...
Social Responsibilities of Business and Business Ethics Class 11 Notes
CBSE Business Studies Chapter 6 Social Responsibilities of Business and Business Ethics class 11 Notes in PDF are available for free download in myCBSEguide mobile app.
NCERT solutions for Class 11 Business Studies chapter 6
Solutions for Chapter 6: Social Responsibilities of Business and Business Ethics Below listed, you can find solutions for Chapter 6 of CBSE NCERT for Class 11 Business Studies.
Revision Notes for CBSE Class 11 Business Studies Chapter 6
Download Social Responsibilities of Business and Business Ethics CBSE Class 11 Business Studies Chapter 6 notes PDF for free. Secure good marks by referring NCERT Class 11 Social Responsibilities of Business and Business Ethics revision notes prepared by Vedantu experts.
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Download social responsibilities of business and business ethics class 11 notes for free here. CBSE Class 11 Business Studies Chapter 6 Notes PDF Download is available here.
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Free PDF Download of NCERT Business Studies Book Class 11 in English. Students can also download the NCERT Textbooks Solutions in PDF for Class 11 Business Studies Book.
NCERT Solutions for Class 11 Business Chapter 6
Class 11 NCERT Solutions For Business Studies Chapter 6: Free PDF Download 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.
Important Questions for CBSE Class 11 Business Studies (2024-25)
The students should read the syllabus including important questions for class 11 business studies. The chapter wise important questions are essential exam preparation tools, which will help in scoring good marks. In Class 11, students are introduced to the commerce subjects, which they will have to study in their higher academic life.
NCERT Solutions for Class 11 Business Studies
The answers to the NCERT books are the best study material for students. Listed below are the chapter-wise NCERT Business Studies Class 11 Solutions CBSE. • Chapter 1: Business, Trade and Commerce. • Chapter 2: Forms of Business Organisation. • Chapter 3: Private, Public and Global Enterprises.
MCQs for Business Studies Class 11 Chapter 6
Get the MCQs with answers for CBSE Class 11 Business Studies Chapter 6 - Social Responsibilities of Business and Business Ethics. At BYJU'S, students can download the study materials for free.
Case Studies of BST Class 11 CH
This document contains sample case studies and questions about the nature and purpose of business from a Class 11 Business Studies textbook in India. It includes questions about different types of economic and non-economic activities, as well as the values and dimensions of business that are illustrated in several scenarios about starting a business, business transactions, and corporate social ...
NCERT Solutions for Business Studies Class 11
NCERT Solutions for Class 11 Business Studies provide a wide range of concepts and introduction to the subject that include all the questions provided in the NCERT books. Business Studies is a curriculum subject that adopts areas like marketing, accounting and economics. Its study amalgamates the concepts of finance, marketing, accountancy ...

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Social Responsibilities of Business and Business Ethics Class 11 Notes Business Studies

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CBSE Guide Social Responsibilities of Business and Business Ethics class 11 Notes

Social Responsibilities of Business and Business Ethics class 11 Notes Business Studies

CBSE Class 11 Business Studies Revision Notes Chapter 6 Social Responsibilities of Business and Business Ethics

Arguments in favour of Social Responsibility :

Arguments Against Social Responsibility

BUSINESS AND ENVIRONMENTAL PROTECTION:

NEED EOR POLLUTION CONTROL

ROLE OF BUSINESS ENVIRONMENTAL PROTECTION:

CBSE Class 11 Revision Notes and Key Points

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CBSE Class 11 Business Studies Revision Notes

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Important Questions for CBSE Class 11 Business Studies (2024-25)

CBSE Class 11 Business Studies Important Questions - Free PDF Download

Chapterwise Important Questions for CBSE Class 11 Business Studies

Class 11 Business Studies Syllabus

Class 11 Business Studies Part A

1. Unit 1: Business Evolution And Fundamentals

2. Unit 2: Different Forms of Business Organizations

3. Unit 3: Private, Public, and Multinational Business Companies

4. Unit 4: Service of Business

5. Unit 5: Business Emerging Modes

6. Unit 6: Business Ethics And Social Responsibility In Business

Class 11 Business Studies Part B

1. Unit 7: Financial Source of Business

2. Unit 8: Enterprise and Small Business

3. Unit 9: Internal Trading

4. Unit 10: International Trading

Business Studies Class 11 Important Questions Chapter Wise

Benefits of Important Questions for Class 11 Business Studies