Statement I : "Working in harmony with the community and environment around us and not cheating our customers and workers we might not gain anything in the short run but in the long term it means greater profits and shareholders value". Statement II : According to Mahatma Gandhi, capitalist class owns wealth or capital as trustees of the society. Codes :
Evaluating Business Ethics and Trusteeship Statements
This solution analyzes two statements concerning business practices and economic philosophy.
Statement I Analysis: Long-Term Business Value
Statement I posits that ethical conduct towards the community, environment, customers, and workers, while potentially lacking short-term gains, leads to greater long-term profits and shareholder value. This aligns with modern concepts of Corporate Social Responsibility (CSR) and stakeholder theory. Businesses focusing on sustainability and ethical practices often build stronger reputations, customer loyalty, and employee morale, contributing to sustained success.
Statement II Analysis: Gandhi's Trusteeship
Statement II addresses Mahatma Gandhi's philosophy of 'trusteeship'. Gandhi proposed that individuals possessing wealth (capitalists) should view themselves not as absolute owners but as 'trustees' of that wealth on behalf of society. The primary goal is societal welfare rather than personal accumulation. This concept emphasizes moral responsibility and equitable distribution.
Conclusion on Statements
- Statement I accurately reflects the long-term benefits of ethical business operations and CSR.
- Statement II correctly describes Mahatma Gandhi's principle of economic trusteeship.
Therefore, both statements are considered correct.
Important Questions from Business Ethics
Given below are two statements:
Statement I: To exist and be successful in a competitive world a business has to be ethical.
Statement II: An ethical organisation can be recognized on the basis of its corporate excellence and not on its relations with the stakeholders.
In light of the above statements, choose the most appropriate answer from the options given below
The practice of 'moonlighting' is
Moonlighting encourages
A. Commitment for the organization.
B. Flexibility to employees.
C. Adding skills.
D. Employee turnover rate.
E. Work from home.
Choose the most appropriate answer from the options given below:
As per the given passage, those employees who could not meet the skill gap were.
Given below are two statements:
Statement I: The practice of moonlighting is increasing because IT professionals are not being rewarded fairly.
Statement II: The contents of employee contract have precisely defined the moonlighting.
In the light of the above statements, choose the correct answer from the options given below:
