Question:
Explain the various elements of business ethics.
Answer:
Business ethics can be defined as the code of conduct that a business must follow, such that it takes up only those activities that are desirable from the viewpoint of society. The purpose of business ethics is to guide managers and other employees in an organisation in performing their jobs in a manner that is socially acceptable. Business ethics should be followed in the day-to-day working of a business enterprise. The following are some of the elements of business ethics.
- Commitment by top management: Top-level officers, such as the CEO's and other higher level managers, must sincerely follow the ethical code of conduct. They should also guide other employees in their organisation in adopting the code.
- Publication of a code: An enterprise must clearly define the ethical code of conduct to be followed in the organisation. The code should include quality standards for work, laws governing production and employee's health and safety standards.
- Establishment of compliance mechanism: In addition to setting performance standards, an enterprise must also devise a mechanism through which it can measure the actions of individual employees. This should be done in order to confirm whether the ethical standards are being met.
- Involvement of employees at all levels: The successful implementation of ethical standards depends to a large extent on the involvement of employees at different levels. This is because it is the employees who actually implement the ethical codes.
- Measurement of results: Although it is difficult to measure the end results of implementation of ethical standards, the top management should take steps to monitor compliance. Also, it must take serious action against any unethical behaviour in the organisation.
Social Responsibility of Business and Business Ethics
Q 1.
Give any one point of difference between ethics and law.
Q 2.
Describe the obligations of business towards owners and shareholders .
Q 3.
Give any two reasons supporting social responsibilities.
Q 4.
If you start a business, which objective will be of utmost importance to you and why?
Q 5.
Give any two reasons against social obligation.
Q 6.
What is environmental pollution?
Q 7.
Discuss the forces which are responsible for increasing concern of business enterprises towards social responsibility.
Q 8.
Give any four reasons against the social responsibilities of business.
Q 9.
What are the obligations of a business in the name of social responsibility?
Q 10.
What is environment? What is environmental pollution?
Q 11.
What do you mean by the principle derived from social values which guide and govern the conduct of businessmen? Explain the factors governing these principles and values.
Q 12.
Briefly explain (a) Air pollution, (b) Water pollution, and (c) Land pollution.
Q 13.
Why should a business do any thing for society at large?
Q 14.
Explain the reality of social responsibility.
Q 16.
Do businessmen have skill to tackle social problems?
Q 17.
What is code of ethics?
Q 18.
What obligation does a businessman have towards the government?
Q 19.
Define corporate social responsibility.
Q 20.
Mention two responsibilities of business towards customers.
Q 21.
"A business owes curtain obligations towards different groups."Identify those groups and explain the obligation of business towards those groups.
Or
Explain social responsibility of a business towards different interest groups.
Q 22.
Why do the enterprises need to adopt pollution control measures?
Q 23.
Explain the obligations of business towards owners and investors.
Q 24.
Give any one difference between ethics and law.
Q 25.
What is corporate social responsibility? Is it similar to business ethics?
Q 26.
What steps can an enterprise take to protect the environment from the dangers of pollution?
Q 27.
"Like an individual, business enterprise should also be a loyal citizen to the state."Discuss.
Q 28.
What is business ethics? Mention the basic elements of business ethics.
Q 29.
What are the responsibilities of business towards employees and customers?
Q 30.
Build up arguments for and against social responsibilities.
Q 31.
Which eight problems have been identified by the United Nations which cause damage to natural environment?
Q 32.
How can a business enterprise improve its public image by performing social responsibilities?
Q 33.
Social responsibility is not an area of business. Do you agree? Justify.
Q 34.
What do you understand by social responsibility of business? How is it different from legal responsibility?
Q 35.
What is the relation between ethics and moral values?
Q 36.
What is the reality of social responsibilities?
Q 37.
Business is essentially, a social institution and not merely a profit making activity.' Explain.
Q 38.
Explain the need for social responsibility.
Q 39.
Describe the reality of social responsibilities of a company.
Q 40.
What do you mean by the principles derived from social values which guide and govern the conduct of businessmen?
Q 41.
What are the core objectives of social responsibility of business?
Q 42.
Name any four elements of business ethics.
Q 43.
Name any two factors which affect the ethical behaviour of a business.
Q 44.
Business ethics and social responsibility are not synonyms but are closely related. Substantiate.
Q 45.
Explain the various elements of business ethics.
Q 46.
What are the major areas of social responsibility of business?
