Advertisements
Advertisements
Question
Who are called Stakeholders?
Advertisements
Solution
A business organization is a coalition of several interest groups are called stakeholders. Example – shareholders, customers, employees, suppliers, etc. Businesses should, therefore, work for the interest of all of them rather than for the benefit of shareholders/owners alone.
APPEARS IN
RELATED QUESTIONS
Choose the correct option for the following:
If business is to operate in a society which is full of diverse and complicated problems, it may have
Choose the correct option for the following:
Business people have the skills to solve
Match the pairs.
| Group ‘A’ | Group ‘B’ | ||
| A) | Employees | 1) | Good quality product |
| B) | Responsibility to Investors | 2) | To maintain solvency and prestige |
| C) | Responsibility towards government | 3) | To serve society |
| D) | Economic Objective | 4) | Voluntary |
| E) | Business ethics | 5) | Job security |
| 6) | Compulsory | ||
| 7) | Respecting rules and regulations | ||
| 8) | To earn profit | ||
|
9) |
Branch of Social Science |
||
| 10) | Protection and environment | ||
The media does not play important role in public life.
Select the correct option.
(Responsibilities towards shareholders, responsibilities towards consumers,
Responsibilities towards the government, Responsibilities towards society)
| Group A | Group B |
| 1) After-sales service | ____________ |
| 2) Timely payment of proper taxes | ____________ |
| 3) ____________ | Protest Anti Social Activities |
| 4) _____________ | Fair practices on the stock exchange |
Correct the underlined word and rewrite the sentence.
Social responsibility is a narrower term than legal responsibility of business.
Study the following case/situation and express your opinion.
| Yashwant Co. Ltd. is providing facilities for their female staff like a day care centre for kids and work from home facility. Even management takes their suggestions while taking the decisions, though they are members of the trade union. |
- By doing this they are following social responsibilities towards which interest groups?
- What values are they presenting?
- What kind of responsibilities employer follows in the above case?
What is the social responsibility of commercial organizations? towards consumers?
Choose the Correct Answer.
Social Responsibility towards employees represents the following except ______
Justify the following statement.
Social responsibility is necessary for the protection of the environment.
