Business Studies for Class 11 Chapter 6 Social Responsibilities of Business and Business Ethics

Learn CBSE Business Studies Index Terms for Class 11, Chapter 6 Including Definitions and Meanings

1. Social Responsibility – Social responsibility is a moral obligation on a company or an individual to make decisions or actions that is in favour and useful to society. Social responsibility in business is commonly known as Corporate Social Responsibility or CSR. For any company, this responsibility indicates that they acknowledge and appreciate the goals of the society and, therefore, would support them to achieve these goals.

In other words, social responsibility and social obligation is a moral structure wherein an individual or a firm is committed to working and helping out others and associations to assist the community that will acquire the world that the individual leaves behind.

2. Water Pollution – Water pollution can be defined as the contamination of water bodies. Water pollution is caused when water bodies such as rivers, lakes, oceans, groundwater, and aquifers get contaminated with industrial and agricultural effluents. When water gets polluted, it adversely affects all lifeforms that directly or indirectly depend on this source. The effects of water contamination can be felt for years to come.

In other words, water pollution is said to occur when toxic pollutants and particulate matter are introduced into water bodies such as lakes, rivers, and seas. These contaminants are generally introduced by human activities like improper sewage treatment and oil spills. However, even natural processes such as eutrophication can cause water pollution.

3. Business Ethics – 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.

4. Environment – Environment can be defined as a sum total of all the living and non-living elements and their effects that influence human life. While all living or biotic elements are animals, plants, forests, fisheries, and birds, non-living or abiotic elements include water, land, sunlight, rocks, and air.

5. Noise Pollution – Any disturbing or excessive noise is described as noise pollution. Noise is a loud, non-harmonious vibration that is unpleasant to hear. The intensity of a sound is measured in decibel (dB), and there is a decibel scale to measure noise pollution and its levels. Sound intensity up to 20 (dB) is considered a whisper. According to the World Health Organisation (WHO), sound intensities which are less than 70 (dB) are not damaging to the living organisms, regardless of how long or consistent the exposure is. Exposure for more than 8 hours to constant noise beyond 85 (dB) may be hazardous.

6. Legal Responsibility – Legal responsibilities are not just obligations to the people in the general public yet in addition to the organisations in the general public. As business is a legal entity itself, it should likewise observe laws and rules. A reputable business is a socially dependable business too.

7. Environmental Protection – Environmental protection or ecological security is the act of safeguarding the regular habitat by people, governments, and organisations. Its goals are to moderate natural resources and the current indigenous habitat and, where conceivable, to fix harm and reverse patterns.

Because of the tensions of overconsumption, populace development and innovation, the biophysical environment is being debased, at times, forever. This has been perceived, and the governments have started putting restrictions on exercises that cause natural degradation.

8. Air Pollution – Air pollution refers to any physical, chemical, or biological change in the air. It is the contamination of air by harmful gases, dust, and smoke that affects plants, animals, and humans drastically.

There is a certain percentage of gases present in the atmosphere. An increase or decrease in the composition of these gases is harmful to survival. This imbalance in the gaseous composition has resulted in an increase in the earth’s temperature, which is known as global warming.

In other words, air pollution refers to the release of harmful contaminants (chemicals, toxic gases, particulates, biological molecules, etc.) into the earth’s atmosphere. These contaminants are quite detrimental and, in some cases, pose serious health issues.

9. Ethics – Ethics in business allude to carrying out proper business arrangements and practices with respect to apparently controversial subjects. A few issues that surface in a conversation of ethics incorporate corporate governance, bribery, discrimination, social responsibility, fiduciary responsibilities, and insider trading.

10. Pollution – Pollution need not always be caused by chemical substances such as particulates, like smoke and dust. Forms of energy such as sound, heat, or light can also cause pollution. These substances that cause pollution are called pollutants.

Pollution, even in minuscule amounts, impacts the ecological balance. Pollutants can make their way up the food chain and eventually find their way inside the human body.

11. Land Pollution – Land pollution occurs when trash, compost, and other toxins are dumped on the land, contaminating or polluting it. Land pollution is caused by human activities such as littering and waste washed ashore from boats, oil rigs, and sewage treatment plants.

The degradation of the earth’s land surfaces, both above and below ground level, is referred to as land pollution. The accumulation of solid and liquid waste products, which contaminate groundwater and soil, is the cause of land pollution. The greater the permeability of the soil, the greater the risk of land contamination.

12. Code of Ethics – A code of ethics or a set of rules is an aide of standards intended to assist experts with leading business genuinely and with uprightness. A code of ethics report might frame the mission, vision, and values of the business or association, how experts should move toward issues, the moral standards in view of the association’s guiding principle, and the norms to which the professional is held.

We hope that the offered Business Studies Index Terms for Class 11 with respect to Chapter 6: Social Responsibilities of Business and Business Ethics, will help you.

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