PPT - Emerging Modes of Business | Business Studies (BST) Class 11 - Commerce PDF Download

 Page 1


Social 
Responsibilities of 
Business and 
Business Ethics
Page 2


Social 
Responsibilities of 
Business and 
Business Ethics
Introduction
Social Obligation
Businesses must respect social 
values while earning profits. 
They should avoid undesirable 
practices that harm society.
Undesirable Practices
Adulterated goods, deceptive 
ads, tax evasion, pollution, and 
worker exploitation harm 
society despite increasing 
profits.
Desirable Practices
Quality goods, healthy working 
conditions, honest tax 
payments, and pollution 
prevention create a positive 
business image.
Page 3


Social 
Responsibilities of 
Business and 
Business Ethics
Introduction
Social Obligation
Businesses must respect social 
values while earning profits. 
They should avoid undesirable 
practices that harm society.
Undesirable Practices
Adulterated goods, deceptive 
ads, tax evasion, pollution, and 
worker exploitation harm 
society despite increasing 
profits.
Desirable Practices
Quality goods, healthy working 
conditions, honest tax 
payments, and pollution 
prevention create a positive 
business image.
Concept of Social 
Responsibility
Beyond Profit
Social responsibility 
means taking decisions 
that align with societal 
values, not just 
maximising profits.
Broader Than Legal 
Duty
It extends beyond mere 
legal compliance to 
include voluntary 
actions benefiting 
society.
Public Good
Responsible businesses recognise their impact on others' 
lives and act with due concern.
Page 4


Social 
Responsibilities of 
Business and 
Business Ethics
Introduction
Social Obligation
Businesses must respect social 
values while earning profits. 
They should avoid undesirable 
practices that harm society.
Undesirable Practices
Adulterated goods, deceptive 
ads, tax evasion, pollution, and 
worker exploitation harm 
society despite increasing 
profits.
Desirable Practices
Quality goods, healthy working 
conditions, honest tax 
payments, and pollution 
prevention create a positive 
business image.
Concept of Social 
Responsibility
Beyond Profit
Social responsibility 
means taking decisions 
that align with societal 
values, not just 
maximising profits.
Broader Than Legal 
Duty
It extends beyond mere 
legal compliance to 
include voluntary 
actions benefiting 
society.
Public Good
Responsible businesses recognise their impact on others' 
lives and act with due concern.
Need for Social Responsibility
The Ethical Question
Should businesses run solely 
for owner profits or serve 
broader societal interests?
Social responsibility is 
essentially an ethical issue 
about what's morally right in 
business conduct.
Voluntary Element
Social responsibility includes 
voluntary actions by 
business people.
They decide the extent to 
which they'll serve various 
sections of society.
Ongoing Debate
Some believe a firm's only 
responsibility is to its 
owners.
Others argue businesses 
must serve all stakeholders 
affected by their actions.
Page 5


Social 
Responsibilities of 
Business and 
Business Ethics
Introduction
Social Obligation
Businesses must respect social 
values while earning profits. 
They should avoid undesirable 
practices that harm society.
Undesirable Practices
Adulterated goods, deceptive 
ads, tax evasion, pollution, and 
worker exploitation harm 
society despite increasing 
profits.
Desirable Practices
Quality goods, healthy working 
conditions, honest tax 
payments, and pollution 
prevention create a positive 
business image.
Concept of Social 
Responsibility
Beyond Profit
Social responsibility 
means taking decisions 
that align with societal 
values, not just 
maximising profits.
Broader Than Legal 
Duty
It extends beyond mere 
legal compliance to 
include voluntary 
actions benefiting 
society.
Public Good
Responsible businesses recognise their impact on others' 
lives and act with due concern.
Need for Social Responsibility
The Ethical Question
Should businesses run solely 
for owner profits or serve 
broader societal interests?
Social responsibility is 
essentially an ethical issue 
about what's morally right in 
business conduct.
Voluntary Element
Social responsibility includes 
voluntary actions by 
business people.
They decide the extent to 
which they'll serve various 
sections of society.
Ongoing Debate
Some believe a firm's only 
responsibility is to its 
owners.
Others argue businesses 
must serve all stakeholders 
affected by their actions.
Arguments for Social Responsibility
Justifies Existence
Business prosperity 
depends on 
continuous service 
to society, not just 
profit-making.
Long-term Interest
Firms gain maximum 
profits when their 
highest goal is 
service to society.
Avoids Regulation
Voluntary social 
responsibility 
reduces the need 
for government 
intervention.
Converts Problems 
to Opportunities
Businesses can turn 
social challenges 
into profitable 
ventures.