Statement I : If the workers develop an attitude of non-cooperation with Management, a repressive economic system may be needed to set right this industrial disorder. Statement II : By fulfilling social responsibility towards shareholders, employees, consumers, government and community, a business achieves economic growth and increases public image. Codes :
Statement I Analysis: Worker Non-Cooperation and Economic Systems
Statement I addresses the potential consequences of worker non-cooperation. It suggests that such an attitude can lead to industrial disorder. The statement posits that in such scenarios, a repressive economic system might become necessary to restore order. This viewpoint links labor relations directly to the type of economic system required for stability.
Statement II Analysis: Social Responsibility and Business Success
Statement II focuses on the benefits of fulfilling a business's social responsibility. It asserts that acting responsibly towards shareholders, employees, consumers, government, and the community contributes positively to the company's economic growth and enhances its public image. This aligns with principles of Corporate Social Responsibility (CSR) and stakeholder theory.
Conclusion on Both Statements
Evaluating both statements based on the provided context:
- Statement I presents a perspective on managing industrial disorder stemming from worker non-cooperation, suggesting potential economic system adjustments.
- Statement II highlights the strategic advantages of social responsibility for business performance and reputation.
Since both statements offer valid, albeit different, perspectives on business management and industrial relations, and considering the options provided, they are both accepted as correct in this context.
Important Questions from Corporate Social Responsibility (CSR)
Which of the following are part of Corporate Social Responsibility (CSR) to consumers?
a) Reasonable chances and the proper system for accomplishment and promotion
b) To supply goods at reasonable prices even when there is sellers market
c) Improving the efficiency of the business operation
d) To provide an opportunity for being heard and redress genuine grievances
Choose the correct answer from the options given below
- Match the items of List-I with the items of List-II and indicate the correct code :Codes :
List – I List – II a. Value added Model i. It is based on the process audit thereby evaluating the corporate social performance. b. Bauer-Fenn Model ii. It takes into account the social benefits and costs. c. ABT Model iii. It reflects the impact of a business enterprise on its employees, the local community and the public at large. d. ESTs Model iv. It shows the value added by the value of production of socially desirable outputs minus the value of socially undesirable effects. - Match the items of List – I with List – II with regard to models of Corporate Social Responsibility.
List – I (Proponent) List – II (Emphasis and Models) (a) Mahatma Gandhi (i) Voluntary commitment by companies to public welfare. (Ethical Model) (b) Jawaharlal Nehru (ii) State ownership and legal requirements determine corporate responsibilities. (Statist Model) (c) Milton Friedmen (iii) Corporate responsibilities limited private owners. (Liberal Model) (d) Edward Freeman (iv) Companies respond to the needs of stakeholders. (Stakeholder Model)
Codes : - Gandhian concept of social responsibility is denoted by which one of the following ?
- Which companies qualify for CSR under Companies Act, 2013 ?
(A) Net worth of ₹ 500 crore or more
(B) Turnover of ₹ 1,000 crore or less
(C) Turnover of ₹ 1,000 crore or more
(D) Net profit of ₹ 5 crore or more
Choose the correct answer from the options given below :
