Social Responsibility of Business — OCM STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceOCMSocial Responsibility of Business3 Marks
Question
"Implementation of business ethics is not possible through law".
✓
Answer
Business morality is a qualitative and relative concept. It is a collection of universally accepted and authorized principles related to conduct and character.
Each business unit decides fair and unfair trade practice according to its own ideology. e.g. to cheat others, to give or receive bribe, to speak pun (double meaning words) in public etc.
If the business unit takes social responsibility regarding ethics and morality then only it survives for long period. In this circumstances it is not required to enforce it through law.
When management ignores expectations of society and crosses the boundary of ethics and disturbs social peace and order then it must to make it follow business ethics very strictly
e.g. Obscene advertisement, narcotic drugs, advertisement of cigarette and tobacco etc., are banned.
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