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Samacheer Kalvi 11th Commerce Chapter 18 Business Ethics and Corporate Governance Notes PDF Download: Tamil Nadu STD 11th Commerce Chapter 18 Business Ethics and Corporate Governance Notes

Samacheer Kalvi 11th Commerce Chapter 18 Business Ethics and Corporate Governance Notes PDF Download: Tamil Nadu STD 11th Commerce Chapter 18 Business Ethics and Corporate Governance Notes
Samacheer Kalvi 11th Commerce Chapter 18 Business Ethics and Corporate Governance Notes PDF Download: Tamil Nadu STD 11th Commerce Chapter 18 Business Ethics and Corporate Governance Notes


Samacheer Kalvi 11th Commerce Chapter 18 Business Ethics and Corporate Governance Notes PDF Download: Students of class can download the Samacheer Kalvi 11th Commerce Chapter 18 Business Ethics and Corporate Governance Notes PDF Download from our website. We have uploaded the Samacheer Kalvi 11th Commerce Chapter 18 Business Ethics and Corporate Governance notes according to the latest chapters present in the syllabus. Download Samacheer Kalvi 11th Commerce Chapter 18 Business Ethics and Corporate Governance Chapter Wise Notes PDF from the links provided in this article.


Samacheer Kalvi 11th Commerce Chapter 18 Business Ethics and Corporate Governance Notes PDF Download

We bring to you specially curated Samacheer Kalvi 11th Commerce Chapter 18 Business Ethics and Corporate Governance Notes PDF which have been prepared by our subject experts after carefully following the trend of the exam in the last few years. The notes will not only serve for revision purposes, but also will have several cuts and easy methods to go about a difficult problem.


Board

Tamilnadu Board

Study Material

Notes

Class

Samacheer Kalvi 11th Commerce

Subject

11th Commerce

Chapter

Chapter 18 Business Ethics and Corporate Governance

Format

PDF

Provider

Samacheer Kalvi Books


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Download Samacheer Kalvi 11th Commerce Chapter 18 Business Ethics and Corporate Governance Chapterwise Notes PDF

Students can download the Samacheer Kalvi 11th Commerce Chapter 18 Business Ethics and Corporate Governance Notes PDF from the links provided in this article.


EXERCISE
I. Choose the Correct Answer

Question 1.
Which of the following helps in maximising sale of goods to society?
a) Business success
b) laws and regulations
c) Ethics
d) Professional management
Answer:
c) Ethics

Question 2.
Ethics is important for ………….
a) Top management
b) Middle level managers
c) Non managerial employees
d) All of them
Answer:
d) All of them

Question 3.
Which of the following does not ensure effective ethical practices in a business enterprise
a) Publication of a code
b) involvement of employees
c) Establishment of compliance mechanisms
d) none of them
Answer:
a) Publication of a code

Question 4.
The role of top management is to guide t entire organisation towards ………….
a) General behaviour
b) Organisavtion behaviour
c) Ethically upright behaviour
d) Individual behaviour
Answer:
c) Ethically upright behaviour

Question 5.
The ethical conduct of employees leading to standard practices results in
a) good behaviour
b) bad behaviour
c) ethical behaviour
d) correct decision making
Answer:
d) correct decision making

II. Very Short Answer Questions

Question 1.
What is ethics?
Answer:
Ethics is derived from the Greek word ‘ethos’ which means a person’s fundamental orientation towards life. It governs the behaviour, derived from the moral standards which help to determine right or wrong, good or evil.

Question 2.
What do you mean by code?
Answer:
The organisation principles are defined in the written document called code. Code of ethics documents, the generally accepted principles of ethical conduct. It includes the values and principles which define the purpose of an organization. It gives a clear picture of the standards the employees should follow. It helps in the process of decision making.

Question 3.
State two ways by which ethics influence behavior:
Answer:
Ethical behaviour is the acts consistent with the moral standards or codes of conduct established by society.

Question 4.
What is the need for Corporate Governance?
Answer:
The concept of Corporate Governance maintains a balance among individual goals, societal goals, economic goals, and social goals. It lays emphasis on ethics, fair business practices, transparency, disclosure, and conduct of business for the benefit of the stakeholders. This is the need for corporate governance.

Question 5.
What are MNCs?
Answer:
MNC is defined to be an enterprise operating in several countries but managed from one country. A multinational corporation is an organization doing business in more than one country.

III. Short Answer Questions

Question 1.
Define business ethics.
Answer:
Business ethics may be defined as a set of moral standards to be followed by owners, managers, and business people. These standards determine the conduct and behaviour of business people. Business ethics reflects the conduct in the context of business.

Question 2.
What do you mean by the concept of business ethics?
Answer:
Ethics is derived from the Greek word ‘ethos’ which means a person’s fundamental orientation towards life. It governs the behaviour, derived from the moral standards which help to determine right or wrong, good or evil. Ethical behaviour is the act consistent with the moral standards or codes of conduct established by society. It may change over time and differ from culture to culture. For example, political bribes or payoffs may be acceptable in one culture but not in other. Ethical issues are inevitable in business.

Question 3.
Why is ethics necessary in business?
Answer:
All business units have realized that ethics is vitally important for the existence and progress of the business as well as the society. It is very important as it improves the public image, earns public confidence, and leads to greater success. Ethics and profits go together in the long run. It enhances the quality of life, the standard of living, and business.

Question 4.
What is the benefit of Corporate Governance to Share Holders?
Answer:
The following are the benefits of Corporate Governance.

  • It ensures the stable growth of organizaions.
  • It helps in improving the investors’ confidence and enables the raising of capital.
  • It has a positive impact on the share price.
  • Helps in creating a strong brand as an ethical business.

Question 5.
Illustrate with an example the working of an MNC.
Answer:
Any company is referred to as a multinational company or corporation (M. N. C.) when that company manages its operation or production or service delivery from more than a single country. It has its headquarters based in one country with several other operating branches in different other countries. IBM, Microsoft, Pepsi Co., Sony, etc. are examples of MNC’s.

IV. Long Answer Questions

Question 1.
Explain the different key elements of business ethics.
Answer:
1. Top Management Commitment:
The top management has a very important role to guide the entire organization towards ethical behaviour. The top-level personnel in any organisation should work openly and strongly committed towards ethical conduct and guide people working at middle and low level to follow ethical behaviour.

2. Establishment of Compliance Mechanism:
To make sure that actual decisions match with a firm’s ethical standards, suitable mechanisms should be established..

3. Publication of a “Code”:
Generally, organisations formulate their own ethical codes for the conduct of the enterprise; it should be followed by the employees of the organisation. The organisation principles are defined in the written document called code.

4. Involving Employees at All Levels:
It is the employees at different levels who implement ethics policies to make the ethical business a reality. Therefore, their involvement in ethics programmes becomes a must.

5. Measuring Results:
The organisations from time to time keep a check on ethical practices followed. Although it is difficult to accurately measure the end results of ethics programmes, the firms can certainly audit to monitor compliance with ethical standards.

Question 2.
Describe the code of business ethics.
Answer:
Code of ethics documents the generally accepted principles of ethical conduct. They are statements of values and principles which define the purpose of an organization. It gives a clear picture of the standards that employees should follow It guides them in decision making. The code of business ethics can include the following:

  • To offer goods at fair prices.
  • To supply quality goods and not to deal in spurious and substandard products.
  • To listen to consumer’s complaints and to reduce them.
    Not to raise the price of its products unjustifiably.
  • Not to resort to hoarding and black marketing.
  • Not to issue advertisement containing false information or exaggerated claims.
  • To pay fair wages to its employ√©es and not to exploit them.
  • To provide congenial work atmosphere.
  • To design production process in such a way as to reduce environmental pollution.
  • To keep proper books of accounts and records and to pay taxes regularly of the enables economic.

Question 3.
Explain the significance of Corporate Governance from the point of Stakeholders The following are the significance of Corporate Governance:
Answer:
Balanced economic development is made possible through transparent management under corporate governance. All stakeholders’ interests are protected and promoted through corporate governance. Some of the benefits of corporate governance are as follows.

  1. Good corporate governance enables corporate success and economic development.
  2. Ensures stable growth of organizations.
  3. Aligns the interests of various stakeholders.
  4. Improves investors’ confidence and enables raising of capital.
  5. Reduces the cost of capital for companies.
  6. Has a positive impact on the share price
  7. Provides incentives to managers to achieve organizational objectives.
  8. Eliminates waste, corruption, risks, and mismanagement.
  9. Improves the image of the company.
  10. The organization is managed to benefit the stakeholders.
  11. Ensures efficient allocation of resources
  12. Creates a strong brand as an ethical business.

Question 4.
Discuss the role of International Benchmarking on the working of Companies in India:
Answer:
Benchmarking is comparing one’s business processes and performance metrics to industry bests and best practices from other companies. There are four primary types of benchmarking: internal, competitive, functional, and generic. Internal benchmarking is a comparison of a business process to a similar process inside the organization. Competitive benchmarking is a direct competitor-to-competitor comparison of a product, service, process, or method.
The generic concept is related to the overall performance of the chosen unit of MNC or business. How Benchmarking works:

  • Select a product, service, or process to benchmark.
  • Identify the key performance metrics.
  • Choose companies or internal areas to benchmark.
  • Collect data on performance and practices.
  • Analyze the data and identify opportunities for improvement.

Question 5.
Describe the benefits of increasing the number of MNCs.
Answer:

  1. Considers opportunities throughout the globe though they do the business in a few countries.
  2. To invest a considerable portion of their assets internationally.
  3. They are a huge industrial / business organisation.
  4. It engages in international production and operates plants in a number of countries.
  5. They take managerial decisions from a global perspective.
  6. They produce in one or a few countries and sell them in most of the countries.
  7. Their international operations are integrated into the corporation’s overall business.

The entry of MNC’s into India has proved quite beneficial for the growth and development of the Indian economy providing employment Opportunities for the young generation.

11th Commerce Guide Business Ethics and Corporate Governance Additional Important Questions and Answers

I. Choose the Correct Answer

Question 1.
Ethics governs the ……………..
(a) Behaviour
(b) Ethos
(c) Life
(d) Payoffs
Answer:
(a) Behaviour

Question 2.
What is meant by the phrase CSR?
a) Corporate Social Responsibility
b) Company Social Responsibility
c) Corporate Society
d) Company Society Responsibility
Answer:
a) Corporate Social Responsibility

Question 3.
…………….. has its Headquarters based in one country with several other operating branches in different other countries.
(a) MNC
(b) GDP
(c) Company
(d) Business
Answer:
(a) MNC

Question 4.
The Corporate governance structure of a company reflects the individual companies’……………….
a) Cultural and economic system
b) Legal and business system
c) Social and regulatory system
d) All of the above
Answer:
d) All of the above

Question 5.
…………….. bench making is a direct competitor-to-competitor comparison of a product, service process, or method.
(a) Internal
(b) Competitive
(c) Functional
(d) Generic
Answer:
(b) Competitive

II. Very Short Answer Questions

Question 1.
What is the meaning of the Greek word ‘ethos’?
Answer:
Ethics is derived from the Greek word ‘ethos’ which means a person’s fundamental orientation towards life.

Question 2.
Define Corporate Governance:
Answer:
According to World Bank, “Corporate governance is about promoting fairness, transparency, and accountability.”

Question 3.
What do you mean by benchmarking?
Answer:
Benchmarking is nothing but a measurement of the quality of an organization’s policies, products, programs, strategies, etc., and their comparison with standard measurements, or similar measurements of its peers.

III. Short Answer Questions:

Question 1.
What do you mean by Corporate Governance?
Answer:
Corporate Governance is the system by which businesses are directed and controlled in the best interests of ah stakeholders. Corporate Governance lays emphasis on ethics, fair business practices, transparency, disclosure, and conduct of business for the benefit of all stakeholders.

Question 2.
Define MNC:
Answer:
In the words of Neil H. Jacoby, “A multinational corporation owns and manages the business in two or more countries”

Question 3.
Explain the types of Benchmarking:
Answer:
There are four primary types of benchmarking: internal, competitive, functional, and generic. Internal benchmarking is a comparison of a business process to a similar process inside the organization. Competitive benchmarking is a direct competitor-to-competitor comparison of a product, service, process, or method.

Functional benchmarking is a comparison to similar or identical practices within the same or similar functions outside the immediate industry. The generic concept is related to the overall performance of the chosen unit of MNC or business.

IV. Long Answer Questions

Question 1.
Explain the benefits of Corporate Governance:
Answer:
The following are the benefits of corporate governance:

  • Good corporate governance enables corporate success and economic development.
  • Ensures stable growth of organizations.
  • Aligns the interests of various stakeholders.
  • Improves investors’ confidence and enables raising of capital.
  • Reduces the cost of capital for companies.
  • Has a positive impact on the share price
  • Provides incentives to managers to achieve organizational objectives.
  • Eliminates waste, corruption, risks, and mismanagement.
  • Improves the image of the company.
  • The organization is managed to benefit the stakeholders.
  • Ensures efficient allocation of resources.
  • Creates a strong brand as an ethical business.

Question 2.
Explain the elements/features of MNCs:
Answer:
The main features or elements of MNCs are as follows:

  • Considers opportunities throughout the globe though they do the business in a few countries.
  • To invest a considerable portion of their assets internationally.
  • They are a huge industrial/business organization.
  • It engages in international production and operates plants in a number of countries.
  • They take managerial decisions from a global perspective.
  • They produce in one or a few countries and sell them in most of the countries.
  • Their international operations are integrated into the corporation’s overall business.

How to Prepare using Samacheer Kalvi 11th Commerce Chapter 18 Business Ethics and Corporate Governance Notes PDF?

Students must prepare for the upcoming exams from Samacheer Kalvi 11th Commerce Chapter 18 Business Ethics and Corporate Governance Notes PDF by following certain essential steps which are provided below.


  • Use Samacheer Kalvi 11th Commerce Chapter 18 Business Ethics and Corporate Governance notes by paying attention to facts and ideas.
  • Pay attention to the important topics
  • Refer TN Board books as well as the books recommended.
  • Correctly follow the notes to reduce the number of questions being answered in the exam incorrectly
  • Highlight and explain the concepts in details.


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