Tag: organization of commerce and management

Questions Related to organization of commerce and management

The Sarbanes-Oxley Act, $2002$ was enacted and passed in USA to _________.

concept of social responsibility organization of commerce and management industrial pollution and degradation of environment environmental values and ethics industrial pollution accelerated with the start of industrial revolution social responsibility towards the environment

  1. punish those who committed accounting frauds in the late $1990s$

  2. improve corporate profits

  3. help laid-off employees get their jobs back

  4. help restore confidence in corporate America

Show answer
Correct Option: A
Explanation:
The U.S. Congress passed the Sarbanes-Oxley Act $2002$, also known as the Corporate Responsibility Act of $2002$, mandated strict reforms to improve financial disclosures from corporations and prevent accounting fraud.
$SOX$ protects employees that report fraud and testify in court against their employers. Companies are not allowed to change the terms and conditions of their employment. They can't reprimand, fire, or blacklist the employee. $SOX$ also protects contractors. Whistle blowers can report any corporate retaliation to the $SEC.$

The latest trend followed by businesses in promoting environmental protection is ___________.

concept of social responsibility organization of commerce and management industrial pollution and degradation of environment environmental values and ethics industrial pollution accelerated with the start of industrial revolution social responsibility towards the environment

  1. Going green

  2. Technology

  3. Cost efficient model

  4. None of the above

Show answer
Correct Option: A
Explanation:

The latest trend followed by businesses in promoting environmental protection is 

Despite extensive economic growth and increases in the quality of life over the last century, concern remains that the era of industrialization has had substantial negative effects on the natural environment and that these effects diminish the vitality and sustainability of our economic systems[i]. In addition to the localized problems pollution, recent scientific discoveries have revealed global scale effects such as ozone depletion and climate change[ii]. The long-term economic impacts of these effects may be quite substantial as a large portion of the world’s economic output is dependent upon the viability of natural systems.

Environmental sustainability and fight against climate change is a long-term strategic issue for the modern world within the broader context of sustainable development. It is an established fact now that climate change has the potential to alter the ability of the earth’s physical and biological systems. It impacts different regions and sectors differently based on their sensitivity and adaptive capacity, and therefore, vulnerability.

The condition of the natural world depends significantly on what profit-making companies are doing, the way they are working, the kind of goods they are producing, and the attitude they are taking toward the natural world.

concept of social responsibility organization of commerce and management industrial pollution and degradation of environment environmental values and ethics industrial pollution accelerated with the start of industrial revolution social responsibility towards the environment

  1. True

  2. False

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Correct Option: A
Explanation:

Protecting the environment is itself a business, and many organizations, especially nonprofits, take that as their guiding purpose.Their direct influence over the natural world, however, is slight when compared against all the globe’s for-profit companies chugging away in the name of earning money. Whether the place is Cancun, or China, or the United States, the condition of the natural world depends significantly on what profit-making companies are doing, the way they’re working, the kinds of goods they’re producing, and the attitude they’re taking toward the natural world. Three common attitudes are

  1. Accelerate and innovate,
  2. Monetize and count,
  3. Express corporate responsibility.

There’s a subtle difference between environmental conservation and protection. Conservation means leaving things as they are. Protection opens the possibility of changing the natural world in the name of defending it. One way for a business to embrace the protection of nature is through technological advance. New discoveries, the hope is, can simultaneously allow people to live better, and live better with the natural world. Looking at a stained paradise like Cancun, the attitude isn’t so much worry that we’re ruining the world and won’t be able to restore a healthy balance, it’s more industrially optimistic: by pushing the accelerator, by innovating faster we’ll resolve the very environmental problems we’ve created.

All definitions of Corporate Social Responsibility recognize that __________.

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

  1. companies have a responsibility for their impact on society and environment

  2. the natural environment should be the main focus of CSR activities

  3. business ethics is a complex issue

  4. companies must pay equal attention to business ethics and sustainability

Show answer
Correct Option: A
Explanation:
Corporate Social Responsibility  is a concept whereby companies not only consider their profitability and growth, but also the interests of society and the environment by taking responsibility for the impact of their activities on stakeholders, environment, consumers, employees, communities, and all other members of the public sphere. The basic premise is that when the corporations get bigger in size, apart from the economic responsibility of earning profits, there are many other responsibilities attached to them which are more of non-financial/social in nature. These are the expectations of the society from these corporate to give something in return to the society with whose explicit or implicit help these entities stand where they are. 

Which of the following is not a dimension of Corporate Social Responsibility ? 

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

  1. Economic

  2. Legal

  3. Voluntary

  4. Emotional

Show answer
Correct Option: D
Explanation:

There are four kinds of social responsibility: legal, ethical, economic and philanthropic. 

Hence emotional is not a dimension of Corporate Social Responsibility 

All definitions of Corporate Social Responsibility recognize that ________________________.

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

  1. Companies have a responsibility for their impact on society and environment

  2. The natural environment should be the main focus of CSR activities.

  3. Business ethics is a complex issue.

  4. Companies must pay equal attention to business ethics and sustainability.

Show answer
Correct Option: A
Explanation:
The term Corporate Social responsibility refers to the concept of business being accountable for how it manages the impact of its processes on stakeholders and takes responsibility for producing a positive effect on society.
CSR is a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis.

CSR stands for __________.

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

  1. Customer Satisfaction Ratios

  2. Corporate Sales Returns

  3. Customer Sales Ratios

  4. Corporate Social Responsibility

Show answer
Correct Option: D
Explanation:
Corporate Social Responsibility $(CSR)$ is a concept whereby companies not only consider their profitability and growth, but also the interests of society and the environment by taking responsibility for the impact of their activities on stakeholders, environment, consumers, employees, communities, and all other members of the public sphere. 

In which dimension of CSR responsibility would you classify the issue of recycling and non wasteful packaging? 

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

  1. Consumer

  2. Social and community involvements

  3. Physical environment

  4. Employee relations

Show answer
Correct Option: C
Explanation:
Businesses should utilize natural and man-made resources in an optimal and responsible manner and ensure the sustainability of resources by reducing, reusing, recycling and managing waste. This can restore the physical environment.

A business should have which kind of an approach?

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

  1. Profit earning

  2. Social responsibility

  3. Both (a) & (b)

  4. Either (a) and (b)

Show answer
Correct Option: C
Explanation:
Companies are expected to meet society’s demands for goods and services, to provide employment, to contribute to the exchequer, and to operate efficiently at a profit. There is no conflict between social responsibility and the obligation on companies to use scarce resources efficiently and to be profitable—an unprofitable business is a drain on society. The essence of the contract between society and business is that companies shall not pursue their immediate profit objectives at the expense of the long-term interests of the community

Which of the following is not a dimension of Corporate Social Responsibility?

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

  1. Economic

  2. Legal

  3. Ethical

  4. Emotional

Show answer
Correct Option: D
Explanation:

There are four kinds of social responsibility: legal, ethical, economic and philanthropic. Legal dimension of CSR relates to compliance with laws and regulations established by the authorities, which set standards for responsible behavior – the codification of what society thinks is right or wrong.