MBA 1st Year Social Cultural and Competitive Environment Very Short Question Answer Model Paper:- In this Post you will find MBA 1 year related to important questions related to the answer such as the Economic Political Legal Business Answer and many other important questions. Very Short Questions are answer in English Section A
Q.1. What do you understand by socio-cultural environment?
Ans. Socio-cultural environment is a macro-environme
tural environment is a macro-environmental factor that create opportunities and pose threats to the business. These consist of human relationships and the development, form and functions of such a relationship have a bearing on the business of an organisation.
0.2. What do you understand by social audit?
ANS. A social audit is a formal review of a company’s endeavours in social responsibility. It looks at factors like company’s record of charitable giving energy use, transparency, work environment and the benefits to evaluate what kind of social and environmental impact a company is having in the locations where it operates.
Q.3. Define corporate governance.
Ans. Corporate governance is concerned with holding the balance between economic and social goals and between individual and communal goals. It is a system by which companies are run, and the means by which they are responsive to their shareholders, employees and society.
Q.4. What are the characteristics of corporate governance? Ans. The characteristics of good corporate governance are:
1. It represents the framework under which business decisions are taken.
2. It depends on the rules and practices.
3. It is a key part of the contract.
4. It provides assurance to well functioning of markets.
MBA 1st Year Social Cultural and Competitive Environment Very Short Question Answer Model Paper
Q.5. What are the benefits of good corporate governance to a corporation?
Ans. Benefits of good corporate governance to a corporation are given as:
1. Creation and enhancement of corporation’s competitive advantage.
2. Enabling corporation to perform efficiently by preventing fraud and malpractices.
3. Providing protection to shareholders’ interest.
4. Enhancing the valuation of an enterprise.
5. Ensuring compliance of laws and regulations.
Q.6. What do you understand by business ethics?
Ans. Business ethics refers to the application of ethics to business. It is defined as a set of moral standards which people owning and managing business is expected to follow. It is the study of complex business practices and behaviours that give rise to ethical issues in organisations.
Q.7. What are the principles on which business ethics is based? Ans. Business ethics is based on the following principles:
1. Be trustful and keep an open mind.
2. Meet obligations and have clear documents.
3. Become community involved.
4. Maintain accounting control.
5. Be respectful.
Q.8. What are the benefits of managing ethics?
Ans. The benefits of managing ethics are:
1. It helps to maintain a moral course in the turbulent times.
2. It helps to ensure that policies are legal.
3. It cultivates strong teamwork and productivity.
4. It promotes a strong public image.
5. It helps to manage values.
MBA 1st Year Social Cultural and Competitive Environment Very Short Question Answer
Q.9. Define social approach to business ethics.
Ans. Social approach enables the company to operate in such a way that it actively recognises the central role that business plays in the structure of society by initiating innovative ways to improve the quality of life of a broad community.
Q.10. What do you mean by social responsibility?
Ans. Social responsibility is the personal obligation of every one as be taken to mean intelligent he acts for his own interests to assure that the rights and legitimate and objective concern for the interests of all others are not impinged. It implies recognition and welfare of the society. understanding of the aspirations of society and determination to contribute to its achievement.
Q.11. What are the arguments in favour of social responsibility of business enterprises?
Ans. Various arguments in the favour of corporate social responsibility are as follows:
1. Changed public expectations of business.
2. Better environment for business.
3. Avoidance of government regulation.
4. Balance of responsibility with power.
5. Citizenship argument and duty of gratitude.
Q.12. Discuss the competitive environment that international business face.
Ans. The competitive environment that international business face is to a certain extent a function of the technological environment and the degree of technological innovations attributed to the competitive environment. Technological change and worldwide flow of the information Fundamentally reshaping how companies and nations do business.