Social Responsibility of Business and Business Ethics – NCERT Class 11 Business Studies Chapter 6 Summary
Social Responsibility of Business and Business Ethics – NCERT Class 11 Summary
This chapter highlights the duty of business beyond profit-making — towards society, environment, employees, and customers. It also emphasizes ethical conduct in every business decision.
🔹 1. What is Social Responsibility?
It is the obligation of business to act in ways that protect and improve society’s welfare, along with earning profits.
🔹 2. Need for Social Responsibility
- Protection of the environment
- Better public image and trust
- Legal obligations
- Long-term business growth
- Serving the interests of stakeholders
🔹 3. Arguments For and Against Social Responsibility
| Arguments For | Arguments Against |
|---|---|
| Improves public image and goodwill | Business may lack social skills |
| Helps avoid government regulations | Main aim of business is profit |
| Long-term interest of business | Added financial burden |
| Better relationship with society | May dilute business focus |
🔹 4. Areas of Social Responsibility
- Shareholders: Fair return on investment
- Employees: Fair wages, safe working conditions
- Consumers: Quality products, honest pricing
- Government: Paying taxes, legal compliance
- Environment: Pollution control, sustainable practices
🔹 5. Business and Environment Protection
- Pollution control (air, water, noise)
- Proper waste disposal
- Use of renewable energy
- Eco-friendly packaging
🔹 6. Business Ethics
Business ethics are moral values and principles that guide the behavior of businesses in all aspects.
- Honesty and transparency
- Fair practices and justice
- No cheating or fraud
- Respect for laws and human rights
🔹 Importance of Business Ethics
- Improves brand image and trust
- Ensures long-term survival
- Attracts better employees and customers
- Helps in smooth functioning of business
📌 Conclusion
Modern businesses must go beyond profits and be accountable to society. Ethical behavior and social responsibility help build a stronger business and a better world.
🔖 Labels:
Business Studies, NCERT Class 11, Social Responsibility, Business Ethics, Chapter 6, Corporate Ethics, CSR, Environmental Responsibility