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InterviewSolution
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Inn Trin Ltd is a well known company in telecom sector. The company is committed to treat everyone fairly with respect and dignity , regardless is difference in age, caste, creed, gender etc. It not only abide by all the laws and and pay taxes on time, but also make serve it participate in social services projects. It prefer to give fair advertisement without any exaggeration , and change fairly from its customers and maintain quality . It managers work effectively and efficiently and minimise waste to maximize the return to their shareholders . The company is running a charitable hospital to provide medical facility to the people of that area. In the context of above case By quoting the line from the paragraph, Identify Interest group towards, which company is fulfilling its social responsibilities. |
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Answer» 1. Employees : " Company is commited …. Creed and gender". 2. Government :"It not abidle by all the laws ….. And for taxes on time". 3. Consumer : "It prefer to give fair advt. ……… quatlity." 4. Shareholders/owners: "Managers work effectively,....... return to their shareholders." 5. Community : "The Co. is running a hospital ...... that area. " |
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| 2. |
"Build well Ltd. " is a real estate company in India. The activites of the company are governed by values of Truthfuless. Respect Justics, Commitment, Trust, and Citizenship. The company has 6 branches across the country. What are the socially determined values which govern the activities of business known as ? Also describe its elements . |
| Answer» The soically determined values which govern the activities of business are known as "Business Ethics " Elements of Business Ethics ----------- | |
| 3. |
"Like an individual, business enterprise should also be a loyal citizen of the state." Discuss. |
| Answer» It is right to say that like an individual business enterprise should also be a loyal citizen of the state because the businessman is also a part of society. He is the creator of society . He makes use of resources of society so he owes some responsibility to society . Assuming social responsibilities is helpful for the businessman himself also because of the following reasons. | |
| 4. |
Mr. Rajiv is the owner of readymade garment factory. His main motive is maximising the profit. For this is charging high price from customer and supply low products low quality products . He is not providing good working conditions to workers and pay them minimum wages. Even he did not bother about the pollution caused by his factory . As a result his employer started leaving the job and joining the competitor . The government puts a heavy penalty on him for causing pollution and even number of customer also decrease. he was very upset and could not understand his problem. (a) According to you what is lacking by Mr. Rajiv ? (b) In the above para, towards whom he did not meet social responsibility ? (c) Explain social responsibility of business towards different groups . |
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Answer» (a) Concept of social responsibility and Ethics. (b) (i) Customers (ii) Employees (iii) Community |
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| 5. |
Give any two responsibilities of business towards customers. |
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Answer» (i) Supply of quality good at reasonable customers. (ii) Educate customer regarding the use and contents of products. |
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| 6. |
ABC Chemicals Limited has become the leader in manufacturing and sale of 4 e- saving drugs in India. It provides medicines as per the prescribed standards and always prints correct dates of expiry of each batch of drugs. Every month, it organizes free medical camp for the residents of Mumbai slums. It strictly follows the provisions of Environment Protection Act. Mean Refineries (P) Ltd. has its factory in the midst of the over polluted old Delhi area. Its license under the Air pollution Control Act has expired and it has crossed the emission standards of pollution. It creates lots of nuisance and dirt in the area and sells low quality oil at high rates. Study the given facts and answer : (a) Which two social responsibility have been overlooked by Mean Refineries ? (b) What two values have been preserved by the chemical company that are essential in the long term interest of the company ? (c) What is the social responsibility of both the companies towards the government. |
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Answer» (a) Mean refinery have overlooked. (i) Social responsibility towards customers. (ii) Social responsibility towards community/environment. (b) Values of ABC Chemical Ltd. As fulfilling social responsibilities towards. (i) Government (ii) Customer |
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| 7. |
What is environment ? What is enivronment pollution ? |
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Answer» Environment is everything that is around us. It can be living (biotic) or non-living (abiotic) things. It includes physical, chemical and other natural forces. Living things live in their environment. They constantly interact with it and adapt themselves to conditions in their environment. Environmental pollution is defined as “the contamination of the physical and biological components of the earth/atmosphere system to such an extent that normal environmental processes are adversely affected. |
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| 8. |
What steps can an enterprise take to protect the environment from the dangers of pollution? |
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Answer» Some of the specific steps which can be taken by business enterprises to protect the environmentfrom the dangers of pollution are as follows (i) Top Management Commitment The first and the foremost step is to have a definite commitment by top management of the enterprise to create, maintain and develop work culture for environmental protection. (ii) Involving Employees at All Levels Second step is to ensure that commitment to environmental protection is shared throughout the enterprise by all divisions and employees as they will actually implement the environment protection programmes and policies. (iii) Laying Down Policies for Environment Protection Another important step is to develop clear-cut policies and programmes for purchasing good quality raw materials, employing superior technology, using scientific techniques of disposal and treatment of wastes and developing employee skills for the purpose of pollution control. (iv) Legal Compliance A very important and essential step is to comply with the laws and regulations enacted by the government for prevention of pollution. (v) Voluntary Participations Participation in government programmes relating to management of hazardous substances, clearing up of polluted rivers, plantation of trees and checking deforestation is also an important step in environmental protection by business enterprises. (vi) Measuring Results Periodical assessment of pollution control programmes in terms of costs and benefits is also essential in order to have a steady progress with respect to environmental protection. (vii) Education and Training Another step that can be taken for environmental protection is arranging educational workshops and training materials to share technical information and experience with suppliers, dealers and customers to get them actively involved in pollution , control programmes. |
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| 9. |
What is business ethics ? Mention the basic elements of business ethics. |
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Answer» Business ethics is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. Elements for Business Ethics1. Importance of Business Ethics. Following ethical business practices is valuable for long-term gains and success. ... 2. Trustworthiness and Honesty. Trustworthiness is a key element of business ethics because the client must have deep trust in your company. ... 3. Confidentiality. ... 4. Technical Integrity. . ..5. Creating an Open Environment. |
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| 10. |
Explain the various elements of business ethics. |
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Answer» Elements of Business Ethics : - (i) Top Management Commitment The Chief Executive Officer (or CEO) and other higher level managers need to be openly and strongly committed to ethical conduct as top management has a crucial role in guiding the entire organisation towards ethical behaviour. (ii) Publication of a ‘Code’ The principles of conduct for the organisation in the form of written documents are referred to as the “code”. It generally covers areas such as fundamental honesty and adherence to laws; product safety and quality; health and safety in the workplace; conflicts of interest; fairness in selling/marketing practices and financial reporting. (iii) Establishment of Compliance Mechanisms Suitable compliances mechanisms should be established to ensure that actual decisions and actions comply with the firm’s ethical standards. Some examples of such mechanisms are-considering values and ethics in recruiting and hiring; emphasising corporate ethics in training; auditing performance regularly to analyse the degree of compliance and instituting communication systems to help employees report incidents of unethical behaviour. (iv) Involving Employees at All Levels Involvement of employees at all levels in ethics programmes is essential as it is the employees who implement ethics policies to make ethical business a reality. Thus, small groups of employees can be formed to discuss the important ethics policies of firms and examine attitudes of employees towards these policies. (v) Measuring Results The firms must audit to monitor compliance with ethical standards to measure the end results of ethics programmes as far as possible and further course of action should then be decided by the top management team in discussion with other employees. |
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| 11. |
What are the major causes of environment pollution ? |
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Answer» Sources and Causes of Environmental Pollution The sources and causes of environmental pollution includes the following: 1. Industrial activities: The industries all over the world that brought prosperity and affluence, made inroads in the biosphere and disturbed the ecological balances. The pall of smoke, the swirling gases, industrial effluents and the fall-out of scientific experiments became constant health hazards, polluting and contaminating both air and water. The improper disposal of industrial wastes are the sources of soil and water pollution. Chemical waste resulting from industry can pollute lakes, rivers and seas and soil too as well as releasing fumes. 2. Dumping solid waste: Household and commercial waste pollutes the environment when not disposed of properly. 3. Vehicles: The smoke emitted by vehicles using petrol and diesel and the cooking coal also pollutes the environment. The multiplication of vehicles, emitting black smoke that, being free and unfettered, spreads out and mixes with the air we breathe. The harmful smoke of these vehicles causes air pollution. Further, the sounds produced by these vehicles produces causes noise-pollution. 4. Rapid urbanization and industrialization: The urbanization and the rapid growth of industrialization are causing through environmental pollution the greatest harm to the plant life, which in turn causing harm to the animal kingdom and the human lives. 5. Population overgrowth: Due to the increase in population, particularly in developing countries, there has been surge in demand for basic food, occupation and shelter. The world has witnessed massive deforestation to expand absorb the growing population and their demands.Combustion of fossil fuels: The combustion of fossil fuels pollutes the air, the soil and the water with noxious gases such as CO2 and CO.Agricultural waste: Fertilizers and pesticides used in agriculture are key causes of environmental pollution. Types: - 1. Air pollution 2. Water pollution 3. Soil pollution 4. Noise pollution |
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| 12. |
Explain the meaning of social responsibilities . |
| Answer» 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. | |
| 13. |
How is business ethics different from law ? |
| Answer» Ethics means the science of a standard human conduct. The law consists of a set of rules and regulations, whereas Ethics comprises of guidelines and principles that inform people about how to live or how to behave in a particular situation. ... The law creates a legal binding, but ethics has no such binding on the people | |
| 14. |
Briefly explain the obligation of business towards owners and investors. |
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Answer» Owners: Business is accountable towards owners as well as managing business profitably, ensuring fair and regular return on capital employed, consolidating financial position of business, guaranteeing capital appreciation so as to enable the owners to withstand any business contingencies. Shareholders or Owners : - 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 1956 also 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. |
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| 15. |
Why do the enterprises need to adopt pollutino control measures ? |
| Answer» Business enterprises need to adopt pollution control measures due to following reasons to Reduction of Health Hazards Pollutants in the environment can cause many diseases like cancer, heart attacks and lung complications. ... This risk of liability can be reduced by installing pollution control devices in its premises. | |
| 16. |
What oblidations does a businessman have towards the government ? |
| Answer» Obligations towards GovernmentIt should pay taxes and other dues honestly. It should not encourage corruption,black marketing and other social evils. It should discourage the tendencies of concentration of economic power and monopoly and should encourage fair trade practices. | |
| 17. |
Explain the different elements of Business Ethics. |
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Answer» Elements of business ethics: Following are the 6 elements of business ethics: 1. Identification: It means that businessmen should be competent enough to rank and identify the ethical issues in order of importance. 2. Evaluation: It means that businessmen must develop the rules and regulations in order to evaluate the ethical issues of the business. 3. Imagination: A businessman should be imaginative enough that he should think about the society before taking any decision about the business. He must be aware of the areas towards which people are sensitive. 4.Tolerance: Businessmen must have the quality to tolerate ethical disagreement. 5.Obligations: Business decision taking process should be evaluate that it must fulfill the ethical obligations. 6.Competence: A businessman should be competent enough to integrate the business ethical issues with the ethical issues of the society otherwise he has to pay the huge amount for the disagreement. |
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| 18. |
Define Business Ethics. |
| Answer» Business ethics is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. | |
| 19. |
What do you understand by social responsibility of business ? How is it different from legal responsibility ? |
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Answer» Social responsibility means that individuals and companies have a duty to act in the best interests of their environment and society as a whole. Social responsibility, as it applies to business, is known as corporate social responsibility (CSR). Differences between Social and Legal Responsibility. Legal responsibility is compulsory under any of the laws, acts and constitution. Social responsibility is not backed by legal provisions. Legal responsibility is compulsion while social responsibility is a choice. |
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| 20. |
Discuss the forces which are responsible for increasing concern of business enterprises toward social responsibility. |
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Answer» The following forces have been responsible for increasing concern of business enterprise towards social responsibility are: (i)Threat of Public Regulation : Threat of public regulation is one important reason due to which business enterprise feels concerned with social responsibility. Democratically elected Govt, have to take care of the interest of different sections of society. Thus they regulate the business behaving in a socially irresponsible manner by passing Acts and legislations regulating the business firms to act in a desired way. (ii) Pressure of labour Movement : The growing number of educated and organised workers are forcing the business enterprise to pay due regard to the welfare of the workers. The powerful labour movements throughout the world is an example of this. (iii) Impact of Consumer Consciousness: Development of education and mass media, increasing competition in the market, etc. have made the consumers aware of their rights and powers which has forced business to follow customer-oriented aproach. (iv) Development of social standards for Business : New social standards consider economic objectives of business enterprise as ligitimate but with the condition that they must also fulfil social needs. Business functioning and performance is to be ultimately judged on the basis of social standards. (v) Development of Business Education : Educated stakeholders of the business have become more sensitive towards social issues with the development of business education with its rich content of social responsibility. (vi) Development of Professional Managerial Class : With professionalisation of the ‘management’, now the businesses are prefering the trained educated managers from management institutes and universities who have a positive attitude towards social responsibility along with profit earning. |
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