Social Responsibility of Business and Business Ethics Test - 29

Businesses demonstrate responsibility towards consumers by providing accurate information about products and ensuring product safety and quality.

The responsibility of a business to protect and assist small-scale suppliers by placing orders with them primarily falls towards Suppliers.

By placing orders with small-scale suppliers, businesses can help support their growth and sustainability, contributing to the welfare of these suppliers.

The harmful wastages, gases and chemicals affect the interests of different groups of people. Thus increases liability and compensation. To minimize it need for pollution control arises.

Pollution causes many diseases like heart attack, lung disease and cancer, etc. Thus The need to control pollution arises. Heavy wastages in production processes lead to increase in cost of production. It becomes more important to check waste and control pollution.

The concept of social responsibility emphasizes the ethical and moral obligations of businesses to contribute positively to society beyond their economic and legal responsibilities. So the correct answer is Meeting the ethical and moral obligations towards society.

Some social problems like unhealthy working environment, corruption, environmental pollution etc. have been created by the business. The Businesses have the skill, human and financial resources to solve such type of social problems created by themselves.

The business takes sources i.e. factors of production from the society. In return as an economic institution, it is the responsibility of business to produce and provide goods and services according to the needs of the society and earn profit also.

Businesses demonstrate responsibility towards the community by engaging in philanthropic activities, supporting community development initiatives, and considering the interests of the local community.

Business Ethics refers to the set of morals values or social norms that govern the activities of a businessman. Ethics defines what is right and what is wrong. It involves critical analysis of human acts to determine whether these are right and wrong.

Ethical business improves goodwill, people's confidence and trust. Such business has helping attitude towards needy, caring for society and environment. Thus stakeholders get benefits of adopting ethics in business.

Respecting the religious sentiments and dignity of people while advertising for a product is an example of ethical responsibility. Ethical responsibility pertains to conducting business activities in a morally upright and socially responsible manner, taking into consideration the impact of business decisions and actions on various stakeholders, including customers, employees, communities, and the environment.