Arguments against Social Responsibility : (a) Violation of Profit Maximisation : A business exists only for profit motive. Arguments Against Social Responsibility. Performance & security by Cloudflare, Please complete the security check to access. There are some arguments against the concept of social responsibility: Violation of Profit Maximization Objective: Social responsibility is against the objective of profit maximization. (b) Burden on consumers : It is argued that social responsibilities like pollution control and environmental protection are very costly and often require huge cost. Tap to unmute. Freedom from government control, huge financial resources. Companies might initiate best-in-class policies, champion regulatory or legislative changes, or reinvent a product that changes an industry. Although profit motive is an important justification for undertaking business activity, it should be looked upon as an outcome of service to the people. 11th Class Business Studies Social Responsibilities Of Business And Business Ethics question_answer 16) Build up arguments for and against social responsibilities. 6.3.1 Arguments for Social Responsibility (i)Justification for existence and growth: Business exists for providing goods and services to satisfy human needs. (a) Justification for Existence and Growth : Business exists for providing goods and services to satisfy human needs. Social responsibility is the obligation of businessmen towards the society. 4.Creating Better Public Image. Class-11-Business-Studies, class-11-business-studies-unit-6; Prev ques Next ques. Social responsibility is (a) Same as legal responsibility (b) Broader than legal responsibility (c) Narrower than legal responsibility (d) None of them (b) Broader than legal responsibility Page No: 157 2. It can be linked with a lot of problems we are facing today on a personal and on a global level. they overstate the trend and ultimate magnitude of business’s voluntary assumption of social responsibility. (a) Responsibility towards shareholders or owners : A firm must provide fair rate of return to shareholders on their capital investment and to ensure safely of their investment. If social responsibility is maintained within a company, then the employees and the environment are held equal to the company’s economics. Therefore, business must install pollution control devices. Shareholders are the owners of the company. Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. Share on Facebook Share on Twitter. Sponsoring social initiatives and providing time for … The business must also take proper precaution against adulteration, poor quality, lack of desired service and courtesy to customer. A firm that promotes the cause of environment will be able to enjoy a good reputation and will be perceived as a socially responsible enterprise. Profit Motive – A business is an economic entity that is guided by profit motive. Answer:-Arguments for Social Responsibility (i) Justification for Existence and Growth The mission of every business is to provide goods and services to satisfy human wants. BC Performance Standards: Social Responsibility/ Worksheets 4 Worksheet: Grades 8 to 10 Social Responsibility This worksheet includes the criteria from the “Fully Meets Expectations” column of the Grades 8 to 10 Social Responsibility Quick Scale. Please enable Cookies and reload the page. (f) Converting problems into opportunities : Business converts risky situations into profitable deals can not only solve practical problems but it can also make them effectively useful by accepting the challenge. Info. (b) To ensure that commitment to environmental protection is shared throughout the enterprise by all divisions and employees. Though, profit is important but the prosperity and growth of business is possible only through continuous service to the society. Arguments Against Social Responsibility (i) Violation of Profit Maximization Objective According to this argument, business exists only for profit maximization and social responsibility is against this objective. Free PDF download of Class 11 Business Studies Chapter 6 - Social Responsibilities of Business and Business Ethics Revision Notes & Short Key-notes prepared by our expert Business Studies teachers from latest edition of CBSE(NCERT) books. Social Responsibility of Business: Arguments for Social Responsibility: The issue of social responsibility is a complex one since it deals with an institution that is at the heart of society. Debate Writing Class 11 | English Writing Skills. Social Responsibility & Ethics NCERT Solution Long Answer Type . I. What steps can an enterprise take to protect the environment from the dangers of pollution ? 5.Avoidance of Government Regulations. ‘Business is essentially a social institution and not merely a profit making activity.’ Explain. 11. Lack of Conceptual Clarity. (h) Holding business responsible for social problems : It is argued that some of the social problems have been centred or perpetuated by business enterprise. (d) Improved public image : Now a days society is becoming conscious of environmental quality. NCERT Solutions for Class 11th: Ch 6 Social Responsibilities of Business and Business Ethics Business Studies Page No: 156 Exercises Multiple Choice Questions 1. 5. The Sample Question Paper 2018-19 released by CBSE consists of a question on "Social Media and its effects"Â. 3.Moral Justification. For Social Responsibility: 1. There is no consensus on its meaning and scope. Explain briefly any four arguments for social responsibility. Though, profit is important but the prosperity and growth of business is possible only through continuous service to the society. (b) Long term interest of the firm : A firm and its image stands to gain maximum profits in the long run when it has its highest goal as service to society. 232, Block C-3, Janakpuri, New Delhi, Build up argument for and against social responsibilities. There is littlediscretion in performing thisresponsibility. Burden on Consumers: Ultimately social responsibility involves a cost. Second, they want business organizations to do something they cannot do and that is to ignore societal demands on them. by Anuj William. 4. Therefore, it is the moral obligation of business to get involved in solving these problems. Q.1:- Build up arguments for and against social responsibilities. This article was published in the “ Academy of Management Journal” in June 1973. Quick Review—. Just as there are some who overemphasize the importance of corporate social responsibility, there are others who criticize the concept and propose that any acts of social responsibility which would drain the profits of the corporation would be outside the realm of legitimate business functions and would defy the very purpose of the existence and objectives of the corporations. It can justify its existence of fulfilling its obligations to the society. Why do the enterprises need to adopt pollution control measures ? Freedom from government control, huge financial resources. Decades of debate on corporate social responsibility (CSR) have resulted in a substantial body of literature offering a number of philosophies that despite real and relevant differences among their theoretical assumptions express consensus about the fundamental idea that business corporations have an obligation to work for social betterment. Arguments for Social Responsibility The following points justify the need of social responsibility by business houses: i. In such circumstances businessman may shift their burden by charging higher prices from customers. Proponents of stakeholder theory support providing for the discretionary expectations of society. © 2. 1. Business enterprises are sub systems of the larger society. CBSE Class 11 Business Studies - Social Responsibilities Of Business & Business Ethics Part B. ... Identify the category of social responsibility referred here. Therefore any talk of social responsibility is against this objective. Share. Question 1: Build up arguments for and against social responsibilities. Therefore, it is argued that the business system should do something to meet needs before it is confronted with a situation when its own survival is indanger due to customers social illness. April 22, 2019. in CBSE. (c) Lack of social skills : All social problems cannot be solved the way business problems are solved. Major arguments against social responsibility are: 1. Concept Of Social Responsibility. This may harm the interest of business itself. Are you an instructor looking for a topic to assign your class? People who feel that they are not getting them due, from the business may resort to anti social activities not necessarily governed by law. (d) Responsibility towards Government and community : An enterprise must respect the laws of the country and pay taxes honestly. Violation of Profit Maximisation: As per this argument, business enterprises claim that our objective is profit maximisation. Long Questions for NCERT Business Studies Solutions Class 11 Chapter 6. Corporate social responsibility (CSR) is not going to solve the world’s problems. Social responsibility is an idea that has been of concern to mankind for many years. managers to consider whether their actions are likely to promote the public good, to advance the basic belief of society, to contribute to its stability strength and harmony This document is highly rated by Commerce students and has been viewed 17646 times. 2. 11 Busienss Studies. Social responsibility is an ethical framework and suggests that an individual has an obligation to work and cooperate with other individuals and organizations for the benefit of society at large. In the past, businesses primarily concerned themselves with the economic results of their decisions. To register Online Tuitions on Vedantu.com to clear your doubts. It must behave as a good citizen and act according to the well accepted values of society. VIEWS . When surveys are carried out of the "Most Respected Business Leaders" you will often find names there, such as Bill Gates of Microsoft, a few years ago Jack Welch of GE, who have not achieved their world class status by playing nice. The major arguments for the assumption of social responsibilities by business are: 1) Public expectations: Social expectations … CBSE Class 11 Business Studies Notes : Social Responsibilities of Buisness. ARGUMENTS FOR SOCIAL RESPONSIBILITY. The leading companies who report on their social responsibility are basket cases - the most effective business leaders don't waste time with this stuff. Justification for Existence & Growth - Argument for Social Responsibility |Class 11 Business Studies. 3. Concept of Social Responsibility of Business. TEXTBOOK QUESTIONS SOLVED. cbse; class-11; Share It On Facebook Twitter Email. Learning the important concepts is very important for every student to get better marks in examinations. Look at the gold standards for guidelines. (b) Reduced Risk of Liability : It is possible that an enterprise is held liable to pay compensation to people affected by the toxicity of gaseous, liquid and solid wastes it has released into environment. Critics of the social responsibility concept put forward the following arguments: 1. Educated persons as consumers, investors, employees have become more concerned towards social issues. (b) Responsibility towards : The workers management must provide workers with better conditions to work in, fair wages, bonus and fair dealing. Ltd. Social Responsibilities of Business and Business Ethics. • Hence, it can be said that social responsibility is necessary for existence and growth of a business organization. We hope the given NCERT MCQ Questions for Class 11 Business Studies Chapter 6 Social Responsibilities of Business and Business Ethics with Answers Pdf free download will help you. Therefore, business cannot operate successfully because of lack of public confidence. Some experts criticise the concept of social responsibility, some of the arguments given against social responsibilities are given below (i) Motive of earning profit (ii) Lack of social skill Social responsibility in business is commonly known as Corporate Social Responsibility or CSR. A society with fewer problems provides better environment for a firm to conduct its business. Impact of consumer consciousness : Development of education and mass media and increasing competition in the market have made the consumer conscious of his right and power. In this chapter, we will discuss on social responsibilities of business and business ethics class 11 notes. Pollution control measures can not only check the seriousness of such diseases but also be supportive of healthy life on earth. (d) To comply with laws and regulations enacted by the Government for prevention of pollution. Some of the important reasons which make a case for pollution control are as follows : (a) Reduction of Health Hazards : Diseases like cancer, heart attacks, respiratory diceases are caused by pollutants in the environment. Shopping. Maintaining social responsibility within a company ensures the integrity of society and the environment are protected. If it were that easy, the problems would have been solved by now. Conclusion : Business is an organ of society and it operates in a socio-economic environment. Your IP: 104.131.144.43 Apr 17, 2021 - Chapter Notes (Part-1) - Social Responsibilities of Business and Business Ethics, BST, Class 11 | EduRev Notes is made by best teachers of Commerce. Social Responsibility of Business: Arguments for Social Responsibility: The issue of social responsibility is a complex one since it deals with an institution that is at the heart of society. The concept of Social responsibility is very vague and amenable to different interpretations. Answer: Arguments for Social Responsibility (i) Justification for Existence and Growth The mission of every business is to provide goods and services to satisfy human wants. We will begin with the explanation of the concept of social responsibility. In this chapter, we will discuss on social responsibilities of business and business ethics class 11 notes. When increasing hunger hamper the society including workers, customers etc. Argument for social responsibility: Justification for existence and growth : Business exists for providing goods and services to satisfy human needs. Social Entrepreneurship 8 Reasons Why Being Socially Responsible Is Good For Business Find out why you don't have to be a nonprofit business to help society and build an engaged team culture. There is no real legal argument against it. Are you a student looking for an essay topic to write on, related to either b usiness ethics or Corporate Social Responsibility? 7. Threat of Public Regulation : Democratic government are expected to act as something to meet needs before it is conwelfare states where by they have to take care of all sections of society. Check out this list, each of which is accompanied by a link to a news item that will help. Growth and Existence: A business looks towards gaining profits by providing goods and services to the customers. The argument against is a purely emotional one--by giving a corporation the status as an artificial person, we make it more important or as important as people. (e) Other social benefits : Pollution control results in many other benefits like clearer visibility, cleaner buildings, better quality of life etc. Over the last two decades, however, it has become of increasing concern to the business world. Social responsibility of business is fulfilled if it maximizes profits … (e) Cost savings : An effective pollution control programme is needed to save cost of operating business. Though, profit motive is an important justification for undertaking business activity, it should be looked upon as an outcome of service to the people. Arguments for Social Responsibility The following points justify the need of social responsibility by business houses: i. The long term benefit of business lies in society. More than legislation, attempts should be made to persuade the business class to follow fair trade practices, reduce the profit margin, make and sell good quality stuff and keep the national interest uppermost in mind. Social Responsibility. Answer:-Arguments for Social Responsibility (i) Justification for Existence and Growth The mission of every business is to provide goods and services to satisfy human wants. Firm must also provide them with correct, accurate and full information about its working and schemes. This video is highly rated by Commerce students and has been viewed 1475 times. (c) To develop clear-cut policies and programmes for purchasing good quality raw materials, employing superior technology, using scientific techniques of disposal etc. Also, we will discuss the arguments for and against social responsibility. Watch later. 2. They should be made to realize the responsibility they owe to society, the social aspect of business. 7 Arguments for and against social responsibility for business organizations. Mar 28, 2021 - Arguments against and in favour of Social Responsibility Commerce Video | EduRev is made by best teachers of Commerce. [citation needed] Social responsibility is a duty every individual has to perform so as to maintain a balance between the economy and the ecosystems. Social responsibility is a moral obligation on a company or an individual to take decisions or actions that is in favour and useful to society. (d) Maintenance of Society : Laws, cannot be passed for all possible circumstances. The following arguments favour corporate social responsibility: 1. Deterioration of Free Enterprise Economy: Assumption of unrelated social responsibilities shall lead … Reading Time: 3 mins read 0. Improves your team motivation and productivity. It must protect the natural environment and should avoid bad, effluent, smoky chimneys, ugly buildings, dirty working conditions. Arguments for Social Responsibility 1.Business is a part of society. (g) Better environment for doing business : If business is to operate in a society which is full of diverse and complicated problems, it may have little chance of success. Therefore, according to this argument, social problems must be solved by socialised agencies. Also, we will discuss the arguments for and against social responsibility. We will begin with the explanation of the concept of social responsibility. Register now. • 1. When business institutions operate in a socially impossible manner action is taken to regulate their activities. (a) Economic responsibility: Abusiness enterprise is basically aneconomic entity and, therefore, itsprimary social responsibility iseconomic i.e., produce goods andservices that society wants and sellthem at a profit. Arguments for and against Social Responsibility. (1) Responsibility Towards the Shareholders 1. (f) Periodical assessment of pollution control programmes in terms of cost and benfits so as to increase the progress with respect to environmental protection. Business enterprises cannot remain unaffected by environmental destruction, they need to take suitable measures for pollution control not merely to avoid criticisms against them but also to enjoy other benefits of such measures. https://www.zigya.com/share/QlNFTjExMDA1Mzk4. The purpose of this study is to evaluate the arguments concerning corporate social responsibility (CSR). Businesses employ a vast majority of the workforce in India and are in control of vast human and financial resources. They are more interested in satisfying a multiplicity of interest groups in society for running their enterprises successfully than merely following profit goals. 1. Existence and growth of business-The existence of a business depends on how efficiently it serves the society by providing goods and services and considering the various aspects of social responsibility. Pressure of Labour Movement : Labour movement for extracting gains for the working class throughout the world has become very powerful. ii. Thus, practice of social responsibility by business provides justifications for its existence and … The basis for corporate personhood are the doctrines of standing and the concept of party. 1. Getting people to think and worry about various social and environmental issues such as human trafficking, racism, and air pollution is significant for raising public supporting and affecting meaningful changes. (a) Economic Responsibility (b) Ethical Responsibility (c) Legal Responsibility (d) All of the above (b) Ethical Responsibility. 7. 2.Long-term Self-interest of Business. Answer: Arguments against social responsibility. Arguments Against Social Responsibility. The principle of Caveat Emptor has been replaced by customer is king. Justification for existence and growth: The ultimate motive of business is profit, as only profit can help the business grow and expand. 2021 Zigya Technology Labs Pvt. Keith Davis elaborately discussed the various points put forth by classical economists in support of their contentions in an article under the style, “The Case For and Against Business Assumption of Social Responsibilities”. Download the PDF Question Papers Free for off line practice and view the Solutions online. Multiple Choice Questions Question 1. MCQ Questions for Class 11 Business Studies: Ch 6 Social Responsibilities of Business and Business Ethics. If you have any queries regarding Social Responsibilities of Business and Business Ethics CBSE Class 11 Business Studies MCQs Multiple Choice Questions with Answers, drop a comment below and we will … Profit should be viewed as an outcome of services to the people. 0. —> Arguments for social responsibility: 1. Courses. The concepts should be clear which will help in faster learning. NCERT Solutions Class 11 Business Studies Business Studies Sample Papers. Corporate personhood are the doctrines of standing and the environment are held equal to the people institutions... Of fulfilling its obligations to the society... political, social problems must be solved by agencies. Existence of fulfilling its obligations to the business grow and expand discharge responsibility towards their employees the of! Business organizations to fulfill certain social responsibilities of business enterprises claim that our objective is profit:... 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