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Details About CBSE Class 11 Commerce Business Studies Social Responsibility And Business Ethics

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Details About CBSE Class 11 Commerce Business Studies Social Responsibility And Business Ethics

CBSE Class 11 Commerce Business Studies Social Responsibility And Business Ethics : CBSE is a reputed educational board of India and it provides updated syllabus for different classes. Several proficient subject experts are associated with this board and based on current research; they evaluate the syllabus of each subject from time to time. Thus, they make students up-to-date with current information and also maintain its standard in all respects. All essential subjects including Math, Chemistry, Physics, Biology, History, Geography, English and other language subjects are included in the syllabus designed for different classes. CBSE syllabus is known for its standard educational pattern and comprehensive marking scheme. The most important thing is that each subject gets equal focus in the entire syllabus so that students can get adequate information on different subjects.

Details About CBSE Class 11 Commerce Business Studies Social Responsibility And Business Ethics

CBSE Class 11 Commerce Business Studies Social Responsibility And Business Ethics : Here our web site www.cakart.in provide CBSE Class 11 Commerce Business Studies best faculties video classes,Best books and free Study materials pdf format. Here we gave direct download links for CBSE Class 11 Commerce Business Studies Social Responsibility And Business Ethics study materials in this article. Download these study materials and read well.

Details About CBSE Class 11 Commerce Business Studies Social Responsibility And Business Ethics

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CBSE Class 11 Commerce Business Studies Social Responsibility And Business Ethics : CNSE Classes 11 a business study is an academic area of concentration within the business major that is taught at an institution of higher learning. There are many different subject areas within the business sector. Thus, there are several types of business studies. Business studies help train and prepare undergraduates and graduates for careers in the business world. In addition, business studies are among the most popular studies among college students. According to the National Center for Education Statistics, most of the degrees awarded to college graduates are business degrees.

The Facts

Business is a very broad concept. There are several academic business disciplines. Therefore, the need for subsections or areas of concentration within it soon became realized. A business study is one particular subject area within the broader subject area of business. A business study focuses on one aspect of business. For example, the subject of accounting is a business study, and the subject of economics is a business study. In addition, there are even more concentration subsections offered within certain business studies. For instance, finance is a business study that is broken down into managerial finance, personal finance, and several others.

Types

There are many business studies. The most common of these is accounting, advertising, economics, finance, management, and marketing. Accounting is often referred to as the language of business, for it is the art of communicating financial information. Advertising is the art of persuading potential customers to purchase a product. Economics focuses on the production, consumption, and distribution of goods and services. Finance focuses on the topics of time, money, and risk. Management deals with managing and controlling a business. Marketing focuses on promoting and selling within a market. There are countless other business studies as well.

Function

Business studies serve several functions. First of all, they allow the broad study of business to be broken down into more comprehensive subject areas that are easier to absorb and study. This categorization of studies allows for specialization as well. Rather than requiring each student to be proficient in the general category of business, business studies allow students to concentrate on one area and specialize in it to achieve expertise. Business studies more efficiently prepare students for business careers than a broad study of business would.

Benefits

Business studies offer several benefits, both to individuals and the business marketplace as a whole. These studies allow students to receive a higher quality of education in their chosen profession that will better prepare them for their careers. This, consequently, affects the business world positively. When these students obtain their degrees in their specialized areas of concentration, they will bring a higher quality of knowledge to the business world that will reflect in their contributions to their places of employment, thereby raising business standards.

Potential

Much potential is vested in business studies. Talented students who choose to concentrate in a business study can specialize in their chosen areas so efficiently that they become experts at their specific business discipline. By bringing that expertise to the business world, they are offering higher quality employment and the increased possibility of better business innovations that could lead to a higher standard of living for the whole economy. Business studies have the potential to impact and change an entire economy.

Details About CBSE Class 11 Commerce Business Studies Social Responsibility And Business Ethics

CBSE Class 11 Commerce Business Studies Social Responsibility And Business Ethics : Business ethics and social responsibility are commonly used in everyday parlance almost interchangeably. While social responsibility is self explanatory, ethics is a word that puts one in a dilemma. Social responsibility looks clearly defined and demarcated. Companies have a policy of social responsibility known as corporate social responsibility whereby they commit to follow their businesses in such a way so as to benefit the community at large. But ethics is a loose term that is dependent upon a person’s conscience. There are certain differences between the two and the two are not overlapping completely.

Business Ethics

Before we move to business ethics, we need to spell out clearly the word ethics. Derived from ancient Greek word ethos, ethics has come to mean moral character. Ethical behaviour is what is good or right. Ethical senses always make use of good, bad, right and wrong. Applying this definition to business, we come to a conclusion that though the primary objective of any business or company is to maximize the profits to shareholders, stakeholders also need to be kept in mind, they are directly or indirectly affected by the decisions taken by the company for the operation of business.

Business ethics is the behaviour of any business that it indulges in its dealings with the community or society. For some, making money is all they are interested in, and this is capitalism in its dirtiest form. These people are least concerned with the bad effects of their business practices and the harm they are doing to the society at large.

When companies do not engage in good business ethics, they are penalised by the law. But such cases are rare and the profits of companies engaging in unethical behaviour are far more than these punitive fines.

Social Responsibility

Man is a social animal and cannot live in isolation. He is expected to behave in a manner that is socially and morally acceptable to others. The same applies to businesses. Though the primary objective of any business is to earn maximum profits for the owners and shareholders, it is also expected to conduct its operations in a manner that it fulfils its social obligations also. For example, though it is not binding on any private sector company to provide employment to the disabled or weaker sections of the society, it is considered to be a part of the social responsibility of the company to absorb people from such sections of the society. Similarly though there is not written law to compel a company to engage in acts to do something to reduce pollution or to do something for the betterment of environment, taking up projects to clean up environment are considered to be a part of the social responsibility of the company.

Difference between Business Ethics and Social Responsibility

Though business ethics and social responsibility seem to be overlapping, there has always been a contradiction between the two. Companies, though they are committed to be socially responsible for their behaviour have been found to be engaging in acts that cannot be called ethical.

What is good for the society is sometimes not good for the business, and what is good for the business is almost always not good for the society.

If the society is conscious, it responds in such a way that businesses are forced to behave responsibly. The same applies to the administration and the judiciary of any country.

Selling of liquor and tobacco in any society is not against business ethics though it may be against the principles of social responsibility. The same applies to lotteries and gambling. But it is certainly against business ethics as well as against social responsibility to entice minors to engage in smoking and drinking.

Concept includes meaning and features

Unit 6: Social Responsibility of Business and Business Ethics

Concept of Social Responsibility

Case of Social Responsivility

Responsibility towards owners, investors, consumers, employees, government and community.

Environment protection and business-Meaning and Role

Business Ethics Concept and Elements

Download here CBSE Class 11 Commerce Business Studies  Social Responsibilities of Business and Business E…d Business Ethics

Details About CBSE Class 11 Commerce Business Studies Social Responsibility And Business Ethics

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Preparing for XI & XII Commerce? - Must read below
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