Tag: organization of commerce and management

Questions Related to organization of commerce and management

Statement X:
In some situations a company action can be legal, yet still unethical
Statement Y: 
Ethics is the study of moral obligation, or separating right from wrong.
Select the correct answer from the options given below:

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

  1. Statement X is correct but Statement Y is false

  2. Both Statement X and Y are false

  3. Statement Y is correct but Statement X is false

  4. Both Statement X and Y are true

Show answer
Correct Option: D
Explanation:

There is biggest ethical dilemma, a legal action, yet unethical so upper level management has to understand.

Ethics is the study of moral obligation or separating right from wrong. According to the concept of moral intensity, an intensely moral person will be equally ethical in almost all situations.

Under social responsibility business enterprise should serve ___________. 

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. Customer

  2. Community

  3. Owner

  4. All of the above

Show answer
Correct Option: D
Explanation:

Ethics is the discipline that deals with moral duties and obligations. Social responsibility implies corporate enterprises should follow business ethics and work for not only to maximize their profits or shareholders' value but also to promote the interests of other stakeholders and the society as a whole.

Social responsibility of business implies the obligations of the management of a business enterprise to protect the interests of the society.
Customer, community,owner are the part of society.

Responsibility of a business towards the consumers are ______.

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

  1. Fair returns

  2. Fair wages

  3. Fair prices

  4. Working condition

Show answer
Correct Option: C
Explanation:

Fair Prices: The customers should not be cheated by charging high prices. It is not possible to fool the customer at all the time. Thus, fair price convert a customer into permanent customer.This is the responsibility of a business towards its customers.

Responsibility towards the workers is _______.

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

  1. Fair wage

  2. Fair deal

  3. Right kind of working conditions

  4. All of the above

Show answer
Correct Option: D
Explanation:
Companies should provide a workplace environment that is safe, hygienic and humane and which upholds the dignity of employees. They should provide all employees with access to training and development of necessary skills for career advancement, on an equal and nondiscriminatory basis. They should uphold the freedom of association and the effective recognition of the right to collective bargaining of labour, have an effective grievance redressal system, should not employ child or forcedlabour and provide and maintain equality of opportunities without any discrimination on any grounds in recruitment and during employment.

 Responsibility of a business towards its shareholders is _____________.

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

  1. Giving them more profits

  2. Giving them fair returns

  3. Giving them returns more than others

  4. None of the above

Show answer
Correct Option: C
Explanation:

Shareholders who are the owners of business should be provided with correct information about company to enable them to give them true and fair position of the company to enable them to decide about further investments.

Company should provide a fair return on the investment made by shareholders. If shareholders do not get proper dividend then they will hesitate to invest additional funds in the concern. Shareholders should be kept fully informed about the working of the company for healthy growth of the business. The Companies Act $2013$ requires company to give full disclosure in the published statements.
Company should strengthen the share prices by its growth, innovation and diversification. At the same time shareholders shall also offer wholehearted support and co-operation to the company to protect their own interests.

An enterprise is responsible towards for its __________.  

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

  1. Workers

  2. Managers

  3. Stakeholders

  4. Customers

Show answer
Correct Option: C
Explanation:
The companies should respect the interests of, and be responsive towards all stakeholders, including shareholders, employees, customers, suppliers, project affected people, society at large etc. and create value for all of them. They should develop mechanism to actively engage with all stakeholders, inform them of inherent risks and mitigate them where they occur. 

Discretionary responsibility means ______.

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

  1. Providing charitable contributions to educational institutions

  2. Helping the affected people during floods

  3. Helping the affected people during earthquakes

  4. All of the above

Show answer
Correct Option: D
Explanation:

Discretionary responsibility refers to purely voluntary obligations that an enterprise assumes.It is the responsibility of the company management to safeguard the capital investment by undertaking only healthy business ventures which gives good returns on investment.It includes charitable contributions, helping people during floods and earthquakes and many such activites.

The enterprise must take proper precaution against _______.

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

  1. Adulteration and poor quality

  2. Misleading and dishonest advertising

  3. Lack of desired service and courtesy to customers

  4. All of the above

Show answer
Correct Option: D
Explanation:
  • Businesses, while serving the needs of their customers, should take into account the overall well-being of the customers and that of society.
  • Businesses should disclose all information truthfully and factually, through labeling and other means, including the risks to the individual, to society and to the planet from the use of the products, so that the customers can exercise their freedom to consumer in a responsible manner. Where required, businesses should also educate their customers on the safe and responsible usage of their products and services.
  • Businesses should promote and advertise their products in ways that do not mislead or confuse the consumers or violate any of the principles in these Guidelines.

Consumer have right 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. Right to decide quality of goods

  2. Right to decide price of goods

  3. Right of information

  4. None of the above

Show answer
Correct Option: C
Explanation:

Right to Information. The right to information is defined as 'the right to be informed about the quality, quantity, potency, purity, standard and price of goods or services, as the case may be so as to protect the consumer against unfair trade practices' in the Consumer Protection Act of 1986.

Nestle and ICI have taken steps to address human rights issues in their overseas factories. This represent that these companies have.

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

  1. Social obligation

  2. Social screening

  3. Social responsibility

  4. Social responsiveness

Show answer
Correct Option: C
Explanation:

Social responsibility is an ethical framework and suggests that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large. Social responsibility is a duty every individual has to perform so as to maintain a balance between the economy and the ecosystems. Hence any steps taken to address human rights issue represent social responsibility