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Business Studies

Types of Social Responsibility

State with re...

Question

State with reasons whether the following statements are True or False.

Management is required to conduct business as well as non-business activity.

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Solution

Management is required to conduct business as well as non-business activity- True

Explanation:
Since every business venture involves working in society and using its resources, such as labour or funds, management also has an obligation towards serving society. It can do so by arranging welfare programmes and helping people by way of NGOs.

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