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Social Responsibility of Business and Business Ethics — Syllabus

ICSE · Class 11 · Commerce

What Social Responsibility of Business and Business Ethics covers in ICSE Class 11 Commerce: 4 topics, for the 2026-27 session.

65 questions40 flashcards5 concepts

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4 Topics · ICSE Class 11 Commerce · 2026-27

Topics in Social Responsibility of Business and Business Ethics

1

Meaning and Concept of Social Responsibility

  • Business is a part of society and must follow the ethical norms of society.
  • Social responsibility of business means taking decisions and performing actions that are desirable in terms of the objectives and values of society.
  • It is broader than legal responsibility because legal duty may only require compliance with law, while social responsibility also includes voluntary action.
2

Need for Social Responsibility

  • There is a debate on whether business should serve only owners or all affected sections of society.
  • Some believe the only social responsibility of a firm is towards its owners.
  • Others believe business must serve customers, employees, suppliers, government, and community.
3

Responsibilities of Business towards Different Interest Groups

  • Responsibilities towards itself/owners include efficient conduct, adequate profit, production of quality goods, fair price, and non-exploitation by monopoly powers.
  • Responsibilities towards shareholders and investors include safety of investment, fair returns, non-partiality, and proper information.
  • Responsibilities towards customers include quality goods at fair prices, proper distribution, no hoarding, careful handling of complaints, and objective analysis of complaints.
4

Responsibility of Business towards Protection of Environment

  • Business environment means the total of factors, forces, and institutions external to a firm that affect it.
  • Arthur M. Weimer defined business environment as the climate or set of conditions, economic, social, political or institutional, in which business operations are conducted.
  • Pollution is the injection of harmful substances into the environment.

Key Concepts

Central concept: Business as a social institution must act responsibly, ethically, and with concern for society, stakeholders, and the environment

Meaning and concept of social responsibilityNeed for social responsibilityResponsibilities towards interest groupsProtection of environmentBusiness ethics

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Frequently Asked Questions

What are the important topics in Social Responsibility of Business and Business Ethics for ICSE Class 11 Commerce?
Key topics in Social Responsibility of Business and Business Ethics include Meaning and Concept of Social Responsibility, Need for Social Responsibility, Responsibilities of Business towards Different Interest Groups, Responsibility of Business towards Protection of Environment. Study these first, then practise questions on each for Class 11 exams.
How should I revise Social Responsibility of Business and Business Ethics for Class 11 exams?
Learn the core ideas first, then work through the 65 practice questions on Social Responsibility 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.

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