What are the different types of social r | Class 11 Business Studies Chapter Social Responsibilities of Business and Business Ethics, Social Responsibilities of Business and Business Ethics NCERT Solutions

Question:

What are the different types of social responsibilities?

Answer:

Social responsibilities of businesses can be categorized into four types. Economic responsibility is the fundamental duty of a business to generate profits while maintaining sustainability. Legal responsibility requires compliance with laws and regulations to operate ethically. Ethical responsibility entails adherence to moral values and ensuring fairness in business dealings. Lastly, discretionary responsibility refers to voluntary initiatives, such as community welfare programs and charitable contributions, that go beyond mandatory requirements to benefit society.

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NCERT questions are designed to test your understanding of the concepts and theories discussed in the chapter. Here are some tips to help you answer NCERT questions effectively:

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Reference examples and data from the chapter when answering questions about Social Responsibilities of Business and Business Ethics.
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Welcome to the NCERT Solutions for Class 11 Business Studies - Chapter . This page offers a step-by-step solution to the specific question from Extra Questions, Question 6: What are the different types of social responsibilities?....

What are the different types of social r | Class 11 Business Studies Chapter Social Responsibilities of Business and Business Ethics, Social Responsibilities of Business and Business Ethics NCERT Solutions

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