Cheat sheet · Class 11 · CBSE · Commerce Business Studies
Social Responsibilities of Business and Business Ethics cheat sheet
The whole chapter on one page: key formulas, facts and the points to remember, for quick revision before a test.
CBSE Class 11 · Business Studies
Cheat sheet
Chapter 6Social Responsibilities of Business and Business Ethics
Responsibility towards Owners, Workers, Consumers, Government, Community.
1. Social Responsibility
Obligation of business to make decisions that are good for society, not just for profit.
- economic
- legal
- ethical
- discretionary
2. Arguments
For
self-interest, public image, avoid regulation, resources available, long-term survival.
Against
violates profit motive, burden on consumers, lack of skill.
3. Responsibility Towards
| Group | Responsibility |
|---|---|
| Owners | fair return, safe capital |
| Workers | fair wages, safe conditions |
| Consumers | quality goods at fair prices |
| Government & community | obey laws, pay taxes, protect environment |
4. Business Ethics
- Commitment of top management.
- Code of conduct, ethics officers.
- Employee involvement, reward ethical behaviour.
5. Key Points
- Pollution: air, water, land, noise.
- CSR is mandatory for large companies under the Companies Act 2013.
- Ethics goes beyond law.
- Environmental management protects resources.
Remember: 4 kinds of responsibility | for vs against | ethics elements
Social Responsibilities of Business and Business Ethics: questions and notes
More Class 11 · CBSE · Commerce Business Studies cheat sheets
Practise Social Responsibilities of Business and Business Ethics
Sign up free to practise the full chapter. Questions you get wrong come back until you've mastered them.
Start practising freeFree to start · No credit card needed