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Chapter Summary

Social Responsibilities of Business and Business Ethics — Chapter Summary

CBSE · Class 11 · Business Studies

Summary of Social Responsibilities of Business and Business Ethics for CBSE Class 11 Business Studies. Part of the CBSE Class 11 Business Studies syllabus.

114 questions68 flashcards5 concepts

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Overview

Business enterprises are expected to earn profit in ways that satisfy society's values and expectations. Social responsibility means taking decisions and actions that are desirable for society, while business ethics means following socially determined moral principles in business conduct. The chapte

Key Concepts

Social responsibility of business refers

Social responsibility of business refers to its obligation to take decisions and perform actions that are desirable in terms of the objectives and val

CSR is defined by the European

CSR is defined by the European Commission as "the responsibility of enterprises for their impacts on society" and by the World Business Council for Su

Social responsibility is broadly divided into

Social responsibility is broadly divided into four categories: economic, legal, ethical, and discretionary. Economic responsibility is to produce good

The major arguments are justification

The major arguments are justification for existence and growth, long-term interest of the firm, avoidance of government regulation, maintenance of soc

The main arguments are violation

The main arguments are violation of profit maximisation objective, burden on consumers, lack of social skills, and lack of broad public support.

Learning Objectives

  • Explain the concept of social responsibility
  • Discuss the need for social responsibility
  • Identify the social responsibility towards different interest groups
  • Analyse the relationship between business and environmental protection
  • Define business ethics and state its elements

Frequently Asked Questions

What are the important topics in Social Responsibilities of Business and Business Ethics for CBSE Class 11 Business Studies?
Key topics in Social Responsibilities of Business and Business Ethics include Concept of Social Responsibility, Need for Social Responsibility and Arguments For and Against, Four Kinds of Social Responsibility, Responsibility Towards Different Interest Groups. Study these first, then practise questions on each for Class 11 exams.
How should I revise Social Responsibilities of Business and Business Ethics for Class 11 exams?
Learn the core ideas first, then work through the 114 practice questions on Social Responsibilities of Business and Business Ethics. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

More resources for Social Responsibilities of Business and Business Ethics

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