Question

15. Read the passage given below:
Business is an integral part of society. It does not exist in isolation
but is interdependent and interconnected with the society and social
environments. In the present era of corporate enterprises where resources
are not confined to a few persons rather to diversified stockholders
the concept of social responsibility assumes added importance.
Various persons and groups of persons have varied interests in the
enterprise : the shareholders expect reasonable return on their capital.
consumers demand quality and defect-free goods, the government wants
businessman to be taxpaver and law abider, the employees ask for fair
remuneration and the society and public at large desire business to
be environment friendly and socially sensible. Therefore, businessmen
have to strike a balance among these competing and conflicting
interests. They have to evaluate their decisions and actions not just
from the narrow perspective of organizational effectiveness but from
the broad spectrum of overall social welfare. If the social responsibility
of business is discharged properly and sincerely the social climate of
the country will improve. The society will receive the benefit and in
turn the business community will also be benefitted. Society expects
business institutions to be socially sensitive environment friendly, and
quality conscious. If business does not come up to expectations of
society, it will find itself difficult to survive. Therefore, to fulfil society's
expectations, business will have to discharge its social responsibility
VALUE POINT
The passage is about :
Social responsibility of
business will have to
Its social responsibility
come up to the expec
society
Para
• Business and
interdependent,
confined to stoc
various perso
varied interests
Shareholders
good return
demand defect
businessman
taxpayer
demand good re
GLOSSAR
va
2. diversified
3. expectations :
(a) Answer the following questions briefly :
1. Can business exist in isolation ?
2. What is the role of corporate offices?
3. What does society expects of business institution ?
4. How does business carry responsibility?
(6) Vocabulary
Which words in the passage have the same meanings as:
5. idea
6. hope
7. an amount of money
8. a band of coloured lights​

Answer 1

The answers are given below.

Explanation:

(a) No, a business can not exist in isolation. It is an integral part of society.

(b) The role of a corporate office is very important in maintaining business communications, strategic plannings, and also keeps a healthy environment between customers and businessmen.

(c) The Society experts of a businessman to be socially sensitive, environment-friendly, and quality conscious.

(d) The business carries responsibility in terms of sustaining a good environment between consumers and producers.

(e)

• Hopes = expectations
• A band of colored light = spectrum
• An amount of money = Rumeneration
• Idea = Concept

Answer 2

Answer:

The role of corporate offices is to strike a balance between________.