Tag: social responsibility towards the environment

Questions Related to social responsibility towards the environment

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

Show answer
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.