Social Responsibilities of Business and Business Ethics — Business Studies STD 11 Commerce — Question

Explain the principle of "One Man One Vote."

Classify, on the basis of size, the business enterprises.

Shivam Enterprises is a leading manufacturer of Home Security Equipments and its products enjoy a very good reputation in the Indian market. Encouraged by this, Kartik (owner of the firm) is thinking of expanding the work to foreign territories also. Kartik wants to export the security equipment to Europe. So, he consulted Abhay, one of his friends, who is actively involved in the export and import of goods. Abhay told Kartik that the export of goods requires a special 'Procedure'. Abhay also explained the advantages and disadvantages of the International business to Kartik.
a. Discuss the procedure which is required to be followed by Kartik for the export of goods.
b. Also, discuss the various advantages and disadvantages of the International business to Kartik.

Ramakant is a successful businessman who is engaged in manufacturing of auto spare parts. The products manufactured by him are sold not only in India, but are also exported to various countries like Singapore, Switzerland, Belgium, etc. On the basis of given case, answer the following questions:
a. Identify the two kinds of business in which Ramakant is engaged.
b. Differentiate between the two types of business as identified in part (a) of the question

Anuj and Ahmed are partners in a firm. They admit John as a new partner, who is physically challenged. Anuj asked Ahmed and John to get the firm registered. But Ahmed and John didn't agree and said that the registration procedure will involve lot of formalities.
If you are Anuj, how will you convince them to get the firm registered?

List the major exports and imports in ancient India.

Why is business considered as economic activity?

The banking system in India dated back to 1750 BC. In ancient India there is evidence of loans from the Vedic period. From the writing of many foreign travellers during Mughal period we came to know about the use of various instruments in the then great commercial centres. In the Mughal period historians found the evidence of loan deeds which were called dastawez. There were two types of dastawez - one was payable on demand and other was payable after a stipulated time. The most important class of credit instruments of exchange evolved in India at that time. Their use was most widespread in the twelfth century, and has continued till today.

On the basis of the given information about the banking system in India, answer the following questions:

(a) Identify the instrument of exchange prominent in the great ancient commercial centres of India.

(b) State two important features of the instrument of exchange identified in part (a).

What are merchant corporations? Explain their functions.

Rahul gets his godown insured against fire for 1,00,000 but does not take enough precautions to minimize the chances of fire like installing fire extinguisher in the godown. During the policy period, a fire take place in his godown and he does not take any steps like throwing water and calling the employees from the fire fighting department to control the fire.

Can he still claim the compensation from the insurance company? State the relevant principle in this context.