For customers, which are the areas of ethical and social responsibility concerns? A. Product Safety B. Fair Price C. Fair Wages D. TQM E. Proper disclosures and information Choose the correct answer from the options given below:
A, B and E only
When we talk about ethical and social responsibility from a customer's perspective, we are considering what a customer has a right to expect from a business in terms of fair treatment, safety, honesty, and reasonable practices. Businesses have responsibilities towards their customers that go beyond just providing a product or service. These responsibilities are tied to ethical behavior and social impact.
Let's evaluate each option provided in the question to determine which ones represent ethical and social responsibility concerns directly relevant to customers:
Based on the analysis:
Therefore, the areas of ethical and social responsibility concerns for customers among the given options are Product Safety (A), Fair Price (B), and Proper disclosures and information (E).
The areas of ethical and social responsibility that are direct concerns for customers are Product Safety, Fair Price, and Proper disclosures and information.
| Area | Customer Concern? | Reasoning |
|---|---|---|
| A. Product Safety | Yes | Customers expect products not to cause harm. |
| B. Fair Price | Yes | Customers expect reasonable and non-predatory pricing. |
| C. Fair Wages | No (primarily internal) | Concern of company towards employees, less direct for customer. |
| D. TQM | No (internal process) | Internal quality management process, not a direct ethical concern for customer. |
| E. Proper disclosures | Yes | Customers expect honest and complete information. |
Understanding a company's ethical duties helps clarify the customer's perspective on responsibility.
While the question focused on direct customer concerns, businesses also have broader social responsibilities that might indirectly concern customers who are socially conscious:
These broader areas reflect a company's corporate social responsibility (CSR), which can influence customer perception and loyalty, even if they are not direct ethical concerns regarding the product or transaction itself.
Corporations are controlled and directed by which one of the following?
As per the Anglo-Saxon Model of Corporate Governance, the authority lies with the following. Arrange these in decreasing order of authority.
A. Board of Directors
B. Managers
C. Shareholders
D. Employees (Company)
E. Trade unions
Choose the correct sequence from the options given below
Assertion (A) : Corporate governance is an important instrument of investor protection.
Reason (R) : Strong corporate governance is indispensable to resilient and vibrant capital markets.
Which one of the following options is correct?
Which among the following is not a correct statement with regard to Corporate Governance in India ?
List out from the given statements the important ethical principles that a business should follow:
a) To take the necessary action for the development of the concerned industry or business.
b) Pay taxes and discharge other obligations promptly.
c) To ensure the best utilisation of the human resources.
d) Refrain from secret kickbacks or pay-offs to customers, suppliers, administrators, etc.
e) Ensure payment of fair wages and fair treatment of employees.
Choose the correct answer from the options given below: