Social Responsibility Of Business And Business Ethics Class 11 Notes Business Studies Chapter 6 - CBSE
Chapter : 6
What Are Social Responsibility of Business and Business Ethics ?
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Social Responsibility
It means obligations of the business persons towards the upliftment of the society.
The Case For Social Responsibility
- Self-interest
- Public image
- Better environment for business
- Avoidance of government interference
- Resources used for moral justification
- Social power
- Contribution to social problems
Social Responsibility towards different Interest Groups
- Customers
- Shareholders/Investors
- Community
- Employees
- Government
- Superiors and Creditors
Environment Pollution
Environmental pollution refers to injection of harmful substances in atmosphere.
- Air pollution
- Water pollution
- Land pollution
Role Of Buisness In Environment Protection
- Periodical assessment of pollution control programmes
- Obvious commitment by top management
- Development of clear cut policies
- Comply the laws and regulations enacted by government
- Participation in government programmes
Business Ethics
It refers to the set of moral values and standards which govern the activities of a businessman. The business ethics are much above the law because laws are forced but practised even without force also.
Elements of Business Ethics
- Top management commitment
- Publication of a code
- Establishment of compliance mechanism
- Involving employees at all the levels
- Measuring results
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