Business Studies

Attempt the following question:
State the social responsibilities of business organization towards government.


SOLUTION
The social responsibilities of a business organization towards government can be explained with the help of the following points:-

(1) Observation of Rules and Regulation: The organization are required to follow the rules and regulations laid by the government in proper manner.

(2) Payment of Taxes:The business organizations must pay taxes and duties regularly to the government such as sales tax, income tax, octroi duty, custom duty, VAT, etc. Non payment of taxes is an offense, because it would be difficult for the government to undertake development programs.

(3) Assistance in Implementing Socio-Economic Policies: The government expects co-operation and help from the business sector to help in implementing programs and policies relating to social and economic development.

(4) Earning Foreign Exchange: The government also expects from business organization that it will earn foreign currency by exporting goods in the foreign market. The government requires this foreign currency for importing valuable and important products.

(5) Advising the Government: The business organization has to provide timely advice to the government in respect of framing important policies such as Industrial policy, Import & Export policy, Licensing policy, etc.

(6) No Favors: The commercial organization should not take any type of favor from government officials by bribing or influencing them.

(7) Contributing to Government Treasury: The commercial organization must contribute the funds to government during the emergencies and natural calamities like floods, earthquakes, etc.

(8) Political Stability: The commercial organizations should work towards the political stability of the country. The stable government often brings more return and peace in a democratic country.
View Answers

You're just one step away

Create your Digital Resume For FREE on your name's sub domain "yourname.wcard.io". Register Here!


Subjective Medium Published on 18th 08, 2020
Next Question
Questions 244531
Subjects 8
Chapters 125
Enrolled Students 199
Enroll Now For FREE

Realted Questions

Q1 Single Correct Medium
___________ are beliefs about what is right and wrong or good or bad.
  • A. Mores
  • B. Motivators
  • C. Cultures
  • D. Ethics

Asked in: Business Studies - Social Responsibilities of Business and Business Ethics


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q2 Single Correct Medium
Exaggerated claims made by promotional marketing communications are referred to as _____________.
  • A. deceptive selling
  • B. marketing misdemeanor
  • C. misleading advertising
  • D. sugging

Asked in: Business Studies - Social Responsibilities of Business and Business Ethics


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q3 Single Correct Medium
The ethics in human resource management cover those ethical issues arising around the __________. 
  • A. society-employer relationship
  • B. customer-employees relationship
  • C. employer-State relationship
  • D. employer-employees relationship

Asked in: Business Studies - Social Responsibilities of Business and Business Ethics


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q4 Single Correct Medium
Economic responsibility is to ______.
  • A. Produce goods and services that society wants
  • B. Sell goods and service
  • C. Make profit
  • D. All of the above

Asked in: Business Studies - Social Responsibilities of Business and Business Ethics


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q5 Passage Medium
Ram Murthy, the CEO of 'Goodcare Hospitals', a leading chain of hospitals, decided to reqard the good work of the doctors of his organisation. For this he instituted two running trophies. A 'Healthcare Achievers Trophy' to acknowledge and appreciate the tireless efforts of the doctors who rendered selfless services to the patients and another 'Beti Bachao Trophy' to recognise the outstanding work done by the doctors in saving the girl child.
The CEO also wanted to improve the health services in rural areas all over the country. He decided that all doctors must work in rural areas for at least six months. He also decided that the paramedical staff should be employed locally.

Asked in: Business Studies - Social Responsibilities of Business and Business Ethics


1 Verified Answer | Published on 18th 08, 2020

View Answer