Q.What are the arguments against the social involvement of business?

1. Social involvement may reduce economic efficiency.
2. Social involvement would create excessive costs for business, which cannot commit its resources for social action.
3. Social involvement can weaken the international balance of payment.
4. It may leads to the hike in prices of the commodities
5. Incomplete support for involvement in social action &&disagreement among groups will cause friction.
6. There is a link of accountability of business to society
   

Q .What is ethics? What are the types of ethics explain??

Ethics is defined as the discipline dealing with what is good & bad and with moral duty & obligation.    The three types of ethics are.

• Personal ethics:-The rules by which an individual lives his or her personal life.
• Accounting ethics:-The code that guides the professional conduct of accountants.
• Business ethics:-Concerned with truth& justice & has a variety of aspects such as expectations of society. Fair competition, advertising, public relations, social responsibility, consumer autonomy & co-operate behavior
  
  
  

Q. What is institutionalizing ethics& how it can be accomplished?

Institutionalizing ethics means applying & integrating ethical concepts in to daily actions. This can be accomplished in three ways.

1. By establishing appropriate company policy or a code of ethic
2. By using a formally appointed ethics committee
3. By teaching ethics in management development programs
   

Q. What to you mean by social responsibility& social responsiveness.

Corporate social responsibility is seriously considering the impact of the company’s action on society.
Social responsiveness means “the ability of a corporation to relate its operations & policies to the social environment in ways that are mutually beneficial to the company and to society.