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Question
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.
17. Business and environmental protection are contradictory.
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.
17. Business and environmental protection are contradictory.
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Solution
1. A business unit is a part of society. True
Explanation:
Society supports the existence of business units. It provides raw materials, labour and finance used by business units to produce goods and services for sale in the society. Thus, it is correct to say that a business unit is a part of society.
2. Tangible goal of earning profit is the sole objective of business. False
Explanation:
Business units have tangible as well as intangible goals. Tangible goals include earning profit, business growth and higher productivity. Intangible goals include activities directed towards the welfare of the society.
3. Expectations of society and public towards business are changing. True
Explanation:
With time, the demands and knowledge of the society have changed. Nowadays, people have become more aware. Various consumer movements by the government and non-government organisations have spread awareness among consumers. Thus, a business should function in accordance with these changes. It should produce goods and services that are in demand and should not indulge in any unfair practices.
4. Business organisations can use natural resources as they want. False
Explanation:
Natural resources are limited and scarce; therefore, they should be used optimally. Inefficient use of these resources can result in their depletion. Thus, business units should make optimum use of these resources to ensure their existence in the long run.
5. Business organisations can participate in solving complex problems. True
Explanation:
Business units should help the government in solving complex problems. The government faces a lot of social problems like unemployment, child labour and environmental pollution. Business units can help generate employment in the society and take measures to reduce pollution. Thus, business units should assist the government in dealing with these problems.
6. Role of media exerts major influence on business organisations. True
Explanation:
Nowadays, media is easily accessible. It has the power to create or destroy the image of business organisations. For example, any act of unfair trade practice or consumer exploitation can result in the bad publicity of a business. Hence, media exerts a major influence on business organisations.
7. Business units should not disclose their records to investors. False
Explanation:
Investors provide business units with finance to support their operations. Thus, it is the responsibility of business units to maintain transparency with the investors on the working of business. They should also communicate to their investors how their funds are being utilised.
8. Providing career opportunities to employee is the responsibility of business. True
Explanation:
It is the ethical responsibility of business units to provide opportunities for the promotion and development of employees. This motivates the employees to work hard. Employees should be provided with information on qualification, skills and experience required to get higher positions.
9. Management should avoid workers’ participation while making decisions. False
Explanation:
Management should welcome and encourage participation of workers. This not only raises their morale but also develops a sense of belonging for the organisation. This in turn motivates them to contribute their best towards the achievement of the business goals.
10. Business organisation is not liable to control pollution. False
Explanation:
It is the responsibility of business units towards community or public in general to ensure pollution-free environment. Business units contribute to various types of pollution such as air, water and noise pollution. Therefore, they should take steps to minimise all types pollution and dispose their waste in a manner that it does not cause any harm to the environment.
11. Business organisation cannot contribute to raise the standard of living of society. False
Explanation:
Business organisations can help in raising the standard of living of people by conducting welfare activities like improving infrastructure (building roads and dams), educating society on technological advancement, raising voice against social evils of society like child labour, dowry and female infanticide and providing high-quality goods and services to their customers.
12. Ethics is a branch of politics. False
Explanation:
Business ethics is a branch of social science. Business ethics deals with the do's and don’ts for the welfare of society. It explains the difference between correct and incorrect, justice and injustice and legal and illegal.
13. Business ethics are applicable to all business organisations. True
Explanation:
Irrespective of the size of a business organisation, business ethics applies to all kinds of organisations. They are the set of principle which every businessman whether small or big is expected to follow.
14. Every business organisation should pay attention to business ethics while conducting its activities. True
Explanation:
Business ethics refers to the code of conduct. It is a system of moral principles that every business should follow, irrespective of its size. This code primarily guides and help the people to behave in a proper manner which is socially acceptable.
15. Business ethics can be considered as a tool for social development. True
Explanation:
Business ethics are the principles which, if business units follow, not only lead to the development of business units but also to the growth of the whole economy. Thus, contributing to social development.
16. Introducing environment management techniques benefits business organisation. True
Explanation:
With the help of environment management techniques, business units can assess the impact of their activities on the environment and take necessary steps to protect the environment. Thus, benefiting the overall society and environment.
17. Business and environment protection are contradictory. True
Explanation:
With industrialisation, there has been depletion of natural resources and increase in the level of pollution. Therefore, it would be right to say that business and environment are contradictory to each other. However, in this regard, it is important to frame rules that can protect the environment and, at the same time, encourage the growth of a business.
Explanation:
Society supports the existence of business units. It provides raw materials, labour and finance used by business units to produce goods and services for sale in the society. Thus, it is correct to say that a business unit is a part of society.
2. Tangible goal of earning profit is the sole objective of business. False
Explanation:
Business units have tangible as well as intangible goals. Tangible goals include earning profit, business growth and higher productivity. Intangible goals include activities directed towards the welfare of the society.
3. Expectations of society and public towards business are changing. True
Explanation:
With time, the demands and knowledge of the society have changed. Nowadays, people have become more aware. Various consumer movements by the government and non-government organisations have spread awareness among consumers. Thus, a business should function in accordance with these changes. It should produce goods and services that are in demand and should not indulge in any unfair practices.
4. Business organisations can use natural resources as they want. False
Explanation:
Natural resources are limited and scarce; therefore, they should be used optimally. Inefficient use of these resources can result in their depletion. Thus, business units should make optimum use of these resources to ensure their existence in the long run.
5. Business organisations can participate in solving complex problems. True
Explanation:
Business units should help the government in solving complex problems. The government faces a lot of social problems like unemployment, child labour and environmental pollution. Business units can help generate employment in the society and take measures to reduce pollution. Thus, business units should assist the government in dealing with these problems.
6. Role of media exerts major influence on business organisations. True
Explanation:
Nowadays, media is easily accessible. It has the power to create or destroy the image of business organisations. For example, any act of unfair trade practice or consumer exploitation can result in the bad publicity of a business. Hence, media exerts a major influence on business organisations.
7. Business units should not disclose their records to investors. False
Explanation:
Investors provide business units with finance to support their operations. Thus, it is the responsibility of business units to maintain transparency with the investors on the working of business. They should also communicate to their investors how their funds are being utilised.
8. Providing career opportunities to employee is the responsibility of business. True
Explanation:
It is the ethical responsibility of business units to provide opportunities for the promotion and development of employees. This motivates the employees to work hard. Employees should be provided with information on qualification, skills and experience required to get higher positions.
9. Management should avoid workers’ participation while making decisions. False
Explanation:
Management should welcome and encourage participation of workers. This not only raises their morale but also develops a sense of belonging for the organisation. This in turn motivates them to contribute their best towards the achievement of the business goals.
10. Business organisation is not liable to control pollution. False
Explanation:
It is the responsibility of business units towards community or public in general to ensure pollution-free environment. Business units contribute to various types of pollution such as air, water and noise pollution. Therefore, they should take steps to minimise all types pollution and dispose their waste in a manner that it does not cause any harm to the environment.
11. Business organisation cannot contribute to raise the standard of living of society. False
Explanation:
Business organisations can help in raising the standard of living of people by conducting welfare activities like improving infrastructure (building roads and dams), educating society on technological advancement, raising voice against social evils of society like child labour, dowry and female infanticide and providing high-quality goods and services to their customers.
12. Ethics is a branch of politics. False
Explanation:
Business ethics is a branch of social science. Business ethics deals with the do's and don’ts for the welfare of society. It explains the difference between correct and incorrect, justice and injustice and legal and illegal.
13. Business ethics are applicable to all business organisations. True
Explanation:
Irrespective of the size of a business organisation, business ethics applies to all kinds of organisations. They are the set of principle which every businessman whether small or big is expected to follow.
14. Every business organisation should pay attention to business ethics while conducting its activities. True
Explanation:
Business ethics refers to the code of conduct. It is a system of moral principles that every business should follow, irrespective of its size. This code primarily guides and help the people to behave in a proper manner which is socially acceptable.
15. Business ethics can be considered as a tool for social development. True
Explanation:
Business ethics are the principles which, if business units follow, not only lead to the development of business units but also to the growth of the whole economy. Thus, contributing to social development.
16. Introducing environment management techniques benefits business organisation. True
Explanation:
With the help of environment management techniques, business units can assess the impact of their activities on the environment and take necessary steps to protect the environment. Thus, benefiting the overall society and environment.
17. Business and environment protection are contradictory. True
Explanation:
With industrialisation, there has been depletion of natural resources and increase in the level of pollution. Therefore, it would be right to say that business and environment are contradictory to each other. However, in this regard, it is important to frame rules that can protect the environment and, at the same time, encourage the growth of a business.
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