M.com sem 1 business ethics and csr most important question paper

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 M.COM PART 1 ( SEM 1 )

BUSINESS ETHICS AND CORPORATE 

SOCIAL RESPONSIBILITY

M.com sem 1 business ethics and csr most important question paper


Q.2. What are needs and importance for ethics?

ANS:

Need & importance of Business Ethics. Real need of business ethics is felt in recent years following are the points which will stress out need & importance of business ethics:

1. Survival:

Business needs to follow moral values and ethics for its survival and growth. Unethical gains are for short term they are not viable or fruitful for survival. To make business prosporous, ethical values and its implementation is essentials.

2. Consumer rights:

Implementation of consumers rights itself is an ethical way of conducting the business. This gives strength of individual consumer against the powerful business. Implementation of consumer rights will get control on unethical malpractices in business such as food adulteration, malpractices on weights and measurement.

3. Welfare of the Society:

Ethical business always profect societal interest. Production of goods and services are produced delivered with the intention of social welfare, business will always protect consumer interest by taking possible efforts by producing eco friendly products.

4. Protection of S.S.I. & Cottage Industry:

In India SSI and Cottage Industry plays on active role. To safeguard the interest of SSI and cottage industries big business units should handle their business operations ethically so as to safeguards the interest of SSI & cottage industries.

5. Mutual benefits:

B. E. benefits business and society. By rendering ethical services for the society business firms gain goodwill and reputation. Society also recognises the importance of fair & ethical business practices.

6. Growth and Expansions:

B. E. encourages for growth and expansion of business. It enables for the firm to gain reputation and goodwill, trust and confidence of micro and macro environmental forces.

7. Decision making:

After adopting /accepting to implement ethical practices, it will enable the business firms to incorporate ethical values based on moral consideration for eco-social environment. It ultimately leads to quality improvement and economies of scale in operation system.

8. Boosting Economy:

Ultimately incorporating ethical practices in business will lead to increment in overall productivity which inturn leads to increase in national income. Acceleration in economy will enhance more circulation of goods and services more economic fluctuations will result in positive income and its distribution.


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