a) The term ethics is derived from the Greek word Ethos.
b) Ethics is a subject of Philosophy that is related with moral principles and social values.
c) Business ethics are guiding Principles of business function.
d) CSR (Corporate Social Responsibility) is a means of making business socially responsible for its actions.
e) Functional areas are teams of employees who have similar skills and expertise.
f) Leadership plays an essential role in inculcating workplace ethics in employees.
g) Governance is the system of rules, practices and processes by which a company is directed
and controlled.
h) Good practices of corporate governance help companies become more Efficient in their
i) A committee elected by the shareholders of a limited company to be responsible for the policy of
the company are called as Board.
j) The SEBI (Securities and Exchange Board of India) lays down a number of provisions for the disclosure and communication of key
facts about the company to its shareholders.


a) What is Business ethics?

Ans: Business ethics involves the application of ethical principles and moral values in the context of business practices. It guides organizations and individuals to make morally sound decisions, balancing profit motives with social responsibility and integrity.
b) State any two features of Business Ethics.

Ans: Business ethics emphasizes moral principles in decision-making and actions within the business context. It involves considering the impact of decisions on various stakeholders and promoting a culture of integrity and social responsibility within the organization.
c) What are Functional areas?

Ans: Functional areas in a business refer to distinct teams or departments, each specializing in specific tasks or activities. These areas, such as marketing, finance, and human resources, focus on particular functions within the organization, contributing to its overall success.
d) Why do business people need ethics?

Ans: Business people need ethics to ensure responsible and sustainable business practices. Ethical conduct builds trust with stakeholders, fosters a positive reputation, and contributes to long-term success by aligning business activities with societal values and expectations.
e) Define Values.

Ans: Values are fundamental beliefs and principles that guide individual or collective behavior, influencing decision-making and shaping one’s perception of what is right or wrong, important, or desirable in life.
f) What is the professional code of ethics?

Ans: The professional code of ethics is a set of guidelines and principles that govern the conduct of individuals within a specific profession. It outlines the expected standards of behavior, integrity, and responsibility to ensure ethical practices within that professional community.
g) What makes an organisation ethical?

Ans: An organization is considered ethical when it demonstrates a commitment to moral principles, social responsibility, and integrity in its actions and decision-making. This involves treating stakeholders fairly, adhering to legal standards, and contributing positively to the well-being of society.
h) Define corporate Governance.

Ans: Corporate governance is the system of rules, practices, and processes by which a company is directed and controlled. It involves balancing the interests of various stakeholders, such as shareholders, management, customers, financiers, government, and the community, to ensure transparency, accountability, and ethical decision-making within the organization.
i) State two ethical principles for business executives.


Two ethical principles for business executives are:

  1. Integrity: Upholding honesty and truthfulness in all dealings, being transparent in communication, and maintaining a high standard of moral and professional conduct.
  2. Responsibility: Acknowledging the impact of business decisions on various stakeholders, including employees, customers, and the community, and taking responsible actions to minimize harm and contribute positively to society.

j) Give some examples of unethical business practices.


Examples of unethical business practices include:

  1. Fraud: Intentional deception to gain an unfair or dishonest advantage.
  2. Discrimination: Unfair treatment of individuals based on characteristics such as race, gender, or age.
  3. Environmental violations: Ignoring environmental regulations or engaging in activities harmful to the environment.
  4. Exploitative labor practices: Taking advantage of employees through unfair wages, poor working conditions, or lack of benefits.
  5. Bribery and corruption: Offering, giving, receiving, or soliciting something of value with the intention of influencing the actions of an official or other person in a position of power.
  6. Product misrepresentation: Providing false or misleading information about a product’s features, safety, or effectiveness.
  7. Insider trading: Illegally trading securities based on non-public information.
  8. Unfair competition: Engaging in anti-competitive practices, such as price fixing or market manipulation.
  9. Privacy violations: Mishandling or misusing customer or employee personal information without consent.
  10. Tax evasion: Illegally avoiding the payment of taxes owed to the government.





a) The first phase of CSR is known for its charity and Philanthropic nature.
b) Labour force is united into Unions which demand protection for their rights from business
c) The normative expectations of most societies hold that laws are Necessary but not sufficient.
d) Corporate Philanthropy includes all forms of Charitable giving.
e) India was the first country in the world to make CSR expenditures by company’s mandatory.
f) The world has set for itself Seventeen global sustainable development goals to be achieved by 2030.
g) India’s NVGs were released by the Ministry of Corporate Affairs..
h) The National Voluntary Guidelines. are an aspirational and comprehensive guideline to encourage responsible
business behaviour in India.
i) SEBI encourages all companies to adopt the Business Responsibility Report..
j) A company’s Brand is the single most powerful way to differentiate itself from the


a) Define CSR.

Ans: CSR, or Corporate Social Responsibility, refers to a company’s commitment to operating ethically and contributing positively to the social, economic, and environmental well-being of the communities in which it operates. It involves voluntary actions that go beyond legal obligations, encompassing initiatives that address sustainability, philanthropy, and ethical business practices.
b) Briefly explain about the National Voluntary Guidelines on CSR.

Ans: The National Voluntary Guidelines on Corporate Social Responsibility (NVG-CSR) in India provide a framework for businesses to integrate social and environmental concerns into their business operations and interactions with stakeholders. Introduced by the Ministry of Corporate Affairs, these guidelines encourage businesses to adopt sustainable practices, ethical behavior, and community engagement voluntarily, aiming to promote responsible corporate citizenship.
c) Mention two arguments against Social Responsibility.


  1. Profit Maximization Focus: Critics argue that the primary responsibility of a business is to maximize profits for its shareholders. They contend that diverting resources toward social responsibility initiatives can compromise a company’s financial performance, potentially reducing returns for investors and impeding competitiveness.
  2. Lack of Expertise: Some skeptics argue that businesses may lack the expertise to effectively address complex social and environmental issues. They believe that companies, being profit-driven entities, may not possess the necessary knowledge or capabilities to navigate the intricacies of social problems, and their involvement could result in ineffective or even counterproductive efforts.

d) What is Ethics Training?

Ans: Ethics training refers to educational programs and initiatives designed to instill ethical principles, values, and conduct within individuals and organizations. These training programs aim to raise awareness of ethical considerations, promote responsible decision-making, and provide guidance on how to navigate moral dilemmas in various professional and organizational contexts. Ethics training is often implemented to foster a culture of integrity, accountability, and ethical behavior among employees, ensuring that they understand and adhere to ethical standards relevant to their roles and industries.
e) What is Code of Conduct?

Ans: A Code of Conduct is a set of guidelines and principles that outlines the expected behavior, ethical standards, and responsibilities of individuals within a particular organization or profession. It serves as a framework for ethical decision-making and helps establish a standard of behavior that aligns with the values and goals of the organization. A Code of Conduct typically addresses issues such as integrity, honesty, respect, fairness, and compliance with laws and regulations, providing a reference for employees or members to uphold ethical standards in their day-to-day activities.
f) What do you mean by a Vision Statement?

Ans: A Vision Statement is a concise and inspirational declaration that articulates an organization’s long-term aspirations, goals, and desired future state. It outlines the overarching purpose and direction of the organization, expressing what it aims to achieve and the impact it seeks to make. A well-crafted Vision Statement provides a guiding framework for decision-making and strategic planning, inspiring and aligning the efforts of individuals within the organization toward a common vision.
g) What relevance does ethics have to business?

Ans: Ethics in business is essential for fostering trust, building a positive reputation, and attracting customers, employees, and investors who value integrity. Beyond moral considerations, ethical practices contribute to legal compliance, risk management, and the long-term sustainability of organizations in an increasingly conscious and interconnected global business environment.
h) What are some examples of business ethics issue?

Ans: Examples of business ethics issues include corporate fraud like the Enron scandal and product safety concerns; labor exploitation, environmental impact, bribery, and discrimination; illustrating the diverse ethical challenges companies face in areas such as competition, privacy, social responsibility, and executive compensation. Addressing these issues is crucial for maintaining trust, reputation, and long-term sustainability in the business environment.
i) What does the Nomination and Remuneration Committee constitute?

Ans: The Nomination and Remuneration Committee, commonly known as the Nomination and Compensation Committee, is a committee within a company’s board of directors that typically consists of independent directors. Its primary responsibilities include recommending board nominations, evaluating board performance, and overseeing executive compensation and remuneration policies to ensure alignment with corporate goals and shareholder interests.
j) What are the focus areas of CSR activities offered by Infosys?

Ans: Infosys’ CSR activities encompass education and skill development, healthcare, rural development, environmental sustainability, community development, and technology for social good. The company also promotes employee volunteerism, reflecting a comprehensive approach to corporate social responsibility.



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