To remain in business every business should try to satisfy two objectives, which are they?
Profit maximisation and wealth maximisation
Economic use of resources and labour satisfaction
Productive use of factors of production and low production cost
Profit maximisation and meeting social obligation.
Which among the following options act as a limitation to the scope of social audit?
More expensive in terms of money and time and not productive unless it is legally required.
It leads to exploitation of natural resources for social benefits.
It erodes the profitability and liquidity of a business
It checks the social motive.
Why Managers and Directors are paid more than other employees?.
Because they are often confronting complex situations where intelligent decisions should be taken.
Their qualification is high when compared to other employees.
Their ability required to tackle problems is moderate.
They occupy very high position in the top management.
What does CSR stand for?
Council for Science and Research
Corporate Statistical Research
Corporate Social Research
Corporate Social Responsibility
What is the major role of a customer in business?
To provide revenue from sales
To find out defects in the companies products
To adopt a bargaining strategy with the company
To compare the product of a company with that of its competitors
Social audits are conducted annually to provide an answer to which question?
What is the correct financial position of the business?
How far the business has attained its major aim of maximising profits?
What is the social impacts of a business over a period?
What is the truth and correctness of financial statements prepared by a firm?
While meeting corporate social responsibility many differences in opinions may arise, however such divergent opinions should be resolved by which authority?
Shareholders
Stakeholders
Senior Management Officials
Social Auditors
Identify the positive impact of applying IT into production methods for employees.
Opportunities for training and promotion might be offered
Local business providing IT services could benefit from increased orders.
Improve quality and offer more product variety
The relation between employees and management may be promoted.
Can a business meet the objectives of all stakeholders at a time?
Not necessary
Yes, all stakeholders objective can be met at a time
No, only the most priority ones can be met first
No, stakeholders view need not be considered
What is the negative effect that a business decision regarding large expansion of the business by building a new head office, have on local community?
More jobs for local residents
Better utilization of resources
Raise the standard of living of people
Causes disruption due to increased traffic and loss of green fields.
