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Business Studies

Reality of Social Responsibility

Reasons why b...

Question

Reasons why business should act ethically:

A

To keep its commitment to society to act ethically.

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B

To meet stakeholder expectations.

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C

To protect their employees and their reputation.

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D

All of the above

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Solution

The correct option is C All of the above
Business should act ethically to keep its commitment to society as society and business are interdependent on each other. Investors invest their money in a business and expects the firm to act ethically in all its functions. Employees are aware and want to work in an organization that respect and behave ethically.

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Q. Reason(s) why business should act ethically include(s) ____________.

Q. Which of the following is not a reason for business to act ethically ?

Q. State with reason whether the following statements are true or false.
1. A business unit is a part of society.
2. Tangible goal of earning profit is the sole objective of business.
3. Expectations of society and public towards business are changing.
4. Business organization can use natural resources as they want.
5. Business organization can participate in solving complex social problems.
6. Role of media exerts major influence on business organization.
7. Business should not disclose their records to investors.
8. Providing career opportunities to employees is the responsibility of business.
9. Management should avoid worker's participation while making decisions.
10. Business organization is not liable to control pollution.
11. Business organization cannot contribute to raise standard of living of society.
12. Ethics is a branch of politics.
13. Business ethics are applicable to all business organizations.
14. Every business organization should pay attention to business ethics while conducting their activities.
15. Business ethics can be considered as a tool for social development.
16. Introducing Environment Management techniques benefit business organization.
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Q. State as to why business should behave ethically?

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