BBA 1st Year Business Ethics Work Life in Indian Philosophy Long Question Answer

BBA 1st Year Business Ethics Work Life in Indian Philosophy Long Question Answer : BBA Business Ethics Book Code 107 First Year Semester 1 Most Important Questions With answer, Unit Wise Division of The Content Last 3 Year Examination Papers (Solved Question Answers for BBA.

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BBA 1st Year Business Ethics Work Life in Indian Philosophy Long Question Answer
BBA 1st Year Business Ethics Work Life in Indian Philosophy Long Question Answer

Section- C (Long Answer Questions) (BBA Notes)

Q1. Describe main features of Indian heritage. What lessons can be drawn from Indian heritage for production, consumption and other economic activities to face the challenges of new economy successfully?

Or What had been the Indian Heritage in production and consumption as regards to work ethos? Exemplify your answer.

Ans. According to Indian Heritage man’s attitude towards his social existence shifted towards duties, obligations and sacrifice. He believed in ‘Simple living and high thinking’. Indian heritage emphasized that the essence of civilization lies not in multiplication of wants but in the purification of human character. There is very little knowledge about the social organisations, administration and systems of production possessed by people living in India.

(1) Production: It can be defined as conversion of inputs into output through a transformation process. Man, money, machine, material and management are 5 M’s of input. The result of this may be finished products, goods and services. Goods produced mean manufacturing products and services like hospitals, communication and rental transport services etc.

(2) Consumption: It can be defined as consuming the produced goods and services. For example car manufacturer customers buy it and use it. Customers are those who buy products and consumers are those who finally consume the products 1e. parents buy toys for their children. Here parents are customers and children are the consumers. Production and consumption are directly connected to each other. If there is no demand of products and services, then there is no need of production. If consumption of products and goods increases, then production will get increased automatically.

Indian Heritage in Production: From the point of view of economists, production from local resources for local needs is the most rational way of economic life. In the beginning, humans have a tendency to produce goods and products according t

their basic requirements or we can say needs. Needs, wants and desires are the part of one’s life. And production is required for fulfilling these needs, wants and desires of human beings. With the development of human beings ways of production have also changed in the modern world. Nowadays, many natural resources or nonrenewable resources are used in excess to produce goods and services.

Productive resources should be diverted to produce most essential goods i.e. the resources used in the production of alcohol, harmful chemicals and arms should be used for the production of food, clothing and house building.

Indian Heritage in Consumption: Consumption has increased the level of production in many ways and from time to time man has developed new methods and techniques of production with the increase in consumption.
According to modern economist, the measure of standard of living is judged by the amount of annual consumption. Consumption is mainly a means to the welfare of human being. The aim should be to obtain the maximum well-being with minimum of consumption.

Various morals and messages have been drawn from the Indian heritage, such as:

(1) Lessons Drawn from Indian Heritage for Production, Consumption and Other Economic Activities: The production and consumption has completely changed over the years. Now the trend is to move towards more reliable, more efficient and safer modes of production and consumption. It is very much evident that production process of any country focuses on social benefits.

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