MP Board · Class 11 · Business Studies · Social Responsibilities of Business and Business EthicsWhich argument favors social responsibility for long-term self-interest?
Step-by-Step Solution
The argument of long-term self-interest suggests that a firm can improve its image and ensure its survival and growth in the long run by fulfilling social responsibilities and earning public goodwill.
Detailed Options Breakdown
Option : Burden on consumers
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Social Responsibilities of Business and Business Ethics.
Option 1: Better public image and goodwill (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 2: Lack of social skills
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Social Responsibilities of Business and Business Ethics.
Option 3: Diversion of resources
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Social Responsibilities of Business and Business Ethics.
💡 Study Guide: This question tests core syllabus concepts from Social Responsibilities of Business and Business Ethics. For formulas, key summaries, and mock exam reference guides, read the full Social Responsibilities of Business and Business Ethics Revision Notes.