Tag: organization of commerce and management

Questions Related to organization of commerce and management

Exaggerated claims made by promotional marketing communications are referred to as _____________.

organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept corporate social responsibility

  1. deceptive selling

  2. marketing misdemeanor

  3. misleading advertising

  4. sugging

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Correct Option: C
Explanation:

Under the Consumer Protection Act 2007, advertising is seen as misleading if it involves false, misleading or deceptive information that is likely to cause the average consumer to act in a way they might otherwise not.  Advertising may also be considered misleading if important information that the average consumer needs to make an informed decision is left out.  Misleading advertising covers claims made directly to consumers by manufacturers, distributors and retailers, as well as in advertisements, catalogues, websites etc.

Truthfulness in marketing communications is an example of ___________.

organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept corporate social responsibility

  1. customer satisfaction ratios

  2. corporate sales returns

  3. customer sales ratios

  4. corporate social responsibility

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Correct Option: D
Explanation:

Corporate social responsibility-the incorporation of ethical elements, such as the public interest and environmental concern, into the planning of business strategy truthfulness in marketing communication, is an example of corporate social responsibility.

An individual who owns status symbols such as designer wear and high-tech gadgets could be accused of __________.

organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept corporate social responsibility

  1. short-termism

  2. environmentalism

  3. socialism

  4. materialism

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Correct Option: D
Explanation:

Materialism, also called physicalism, in philosophy, the view that all facts (including facts about the human mind and will and the course of human history) are causally dependent upon physical processes, or even reducible to them.

Materialism is the attitude of someone who attaches a lot of importance to money and wants to possess a lot of material things.

A worker is most likely to behave ethically and legally when ___________.

organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept corporate social responsibility

  1. a manager observes his or her behaviour closely

  2. the worker has intense morals

  3. the consequences of the act are minor

  4. the consequences of the act are substantial

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Correct Option: D
Explanation:
Disciplinary provisions should be in place to ensure consistent responses to similar violations of standards and procedures (as against applying different standards to different employees based on their position, performance, function, and the like). There should be provisions for those who ignore as well as for those who violate standards and procedures. This will ensure that workers behave ethically and legally.

Fairness in employment practices centers on _________.

organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept corporate social responsibility

  1. hiring no family members or friends

  2. giving people equal rewards for accomplishing the same tasks

  3. obeying equal employment opportunity legislation

  4. avoiding conflicts of interest

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Correct Option: B
Explanation:

Giving people equal rewards is ethical practice or fairness in employment practice but distributing unequal rewards for the same task is a type of discrimination. 

The idea of social responsibility is ____________. 

organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept environmental values and ethics industrial pollution accelerated with the start of industrial revolution corporate social responsibility

  1. Maximize owner worth

  2. Maximize profits of business

  3. Concern about effects on public

  4. All of the above

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Correct Option: C
Explanation:

Social responsibility in business or corporate social responsibility $(CSR)$ pertains to people and organizations behaving and conducting business ethically and with sensitivity towards social, cultural, economic, and environmental issues.

Social responsibility of a business refers to its ________ obligation.

organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept environmental values and ethics industrial pollution accelerated with the start of industrial revolution corporate social responsibility

  1. Action values of our society

  2. Action values for business

  3. Action values for individual

  4. All of the above

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Correct Option: A
Explanation:
There is a kind of social contract between the society and business by which the society expects the business to work in its interest. Society creates and accepts business enterprises, hence it expects them to work in a manner which is not detrimental to its well being and interests. Technological advancements have to be made but their impact on the environment and mankind has he kept in mind. 

Social responsibility of a business can broadly be divided into _____ categories.

organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept corporate social responsibility

  1. Three

  2. Two

  3. Four

  4. Five

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Correct Option: C
Explanation:

Social responsibility can be divided into 4 categories:

  • Economic responsibility
  • Legal responsibility
  • Ethical responsibility
  • Discretionary responsibility.

Social responsibility is beneficial because of __________.  

organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept environmental values and ethics industrial pollution accelerated with the start of industrial revolution corporate social responsibility

  1. Availability of resources with business

  2. Maintenance of society

  3. Justifications for its existence and growth

  4. All of the above

Show answer
Correct Option: D
Explanation:

Social responsibility has become increasingly important to companies over the last several years. Whether it's by empowering women, helping the environment, or trying to end poverty, more and more companies are incorporating social responsibility into their overall business strategy. The social issues may be local, national, or global, but a concern for the health and wellness of others that do not involve sales can be seen as commendable. There are many reasons why a company might engage in social responsibility, and in this article, we'll outline a few of them. 

Improving the Company's Brand 

Being a socially responsible company can bolster a company's image and build its brand. The public perception of a company is critical to customer and shareholder confidence in the company. By projecting a positive image, a company can make a name for itself for not only being financially profitable, but socially conscious as well. Also, by being active in the community, a company's employees are engaging with potential customers and in doing so, indirectly marketing the company in the process. 

Engaging Customers 

Building relationships with customers is the cornerstone of a successful company and having a social responsibility policy can impact the buying decisions of customers. Some customers are willing to pay more for a product if they know a portion of the profit is going to worthy cause. Also, if a company is active in the local community – for example, a bank that offers loans to low-income families – the company will be viewed positively by the community and perhaps boost the company's sales as a result. In short, building a positive relationship with customers and their communities can lead to increased sales and rising profits. 

Retaining Top Talent

Many employees want to feel like they're part of something bigger. Social responsibility empowers employees to leverage the corporate resources at their disposal to do good. Some public corporations' employees number in the tens of thousands, and when they get behind an initiative, the results can be amazing.  

Furthermore, being part of a strategy that helps the greater good can boost employee morale and lead to greater productivity in the workforce. Knowing a product and service is also helping with social causes can create a sense of pride and that pride shows in relationships with customers and fellow employees.

Negative effects of social responsibility ___________. 

organization of commerce and management social responsibility of management and csr concept of social responsibility social responsibility social responsibility - concept environmental values and ethics industrial pollution accelerated with the start of industrial revolution corporate social responsibility

  1. Violation of profit maximization objective

  2. Lack of social skills

  3. Burden on consumers

  4. All of the above

Show answer
Correct Option: D
Explanation:

The negative aspects of corporate social responsibility.

The basic reason why a business is formulated is to make a profit. Corporate social responsibility insists on a corporation to make an effort to look out for stakeholders who are not shareholders only, but who have an interest on what an organization does and the outcomes of what it does. Despite of that, its not totally the duty of the corporation to look out for the many people who hold an interest in the company's activities. If the operations of the free market don’t solve the social problem, it is the duty of the government and not the businesses, to address the many issues faced by the society.

Some businesses are just not prepared to deal with social issues. The lack of preparations of a particular business to deal with societal issues needs the managers to be trained and well versed in dealing with the complex issues that many societies face, as this will give them the skills and the knowledge to be prepared to do so.