Subject Code: GM02
Subject Name: ECONOMIC & SOCIAL ENVIRONMENT
Component name: TERM END
Assignment Start Date: 10/07/2022
Assignment End Date: 20/07/2022
Question 1:- __________is the blue print that guides the behaviour of people in community .
a) Culture
b) Society
c) Responsibility
d) None of these
Question 2:- Feeling of insecurity and confusion caused by strangeness of new environment is called________.
a) Cultural shock
b) Cultural Adaptation
c) Cultural Transmission
d) Cultural Trait
Question 3:- Technical devices becoming obsolete and new features in form of google drive and cloud computing replacing technology , shows which characteristic of business environment-
a) Dynamic
b) Uncertainty
c) Relativity
d) None of these
Question 4:- All the factors that are within the organization which impact strength and causes weakness of strategic nature refers to-
a) Internal Environment
b) External Environment
c) Direct Environment
d) Indirect Environment
Question 5:- Which of the following are the forces to scan the environment as per Michael Porter Environmental scanning method-
a) Potential Entrance
b) Suppliers
c) Rivalry among existing firms
d) All of the above
Question 6:- State True or False Objective of SWOT analysis is to provide framework to reflect on firm’s ability to overcome barriers and avail of the opportunities emerging in the environment.
a) TRUE
b) FALSE
Question 7:- Foreign Exchange Management Act replaced Foreign Exchange Regulation Act in the year_____.
a) 1990
b) 2000
c) 2021
d) 2022
Question 8:- Section 3 of Chapter II of FEMA deals with-
a) Holding of Foreign Exchange
b) Dealing in Foreign Exchange
c) Current Account transactions
d) Export of Goods & Services
Question 9:- As per the amendment introduced in Consumer Protection Act, the ebill introduces _________as a mode of consumer dispute resolution.
a) Court
b) Mediation Cell
c) Arbitration
d) None of the above
Question 10:- Growing economic interdependence of countries worldwide through increasing volume and variety of cross-border transactions in goods and services, free international capital flows, and more rapid and widespread diffusion of technology is referred to as___________.
a) Globalization
b) Expansion
c) Reflection
d) Mediation
Question 11:- __________is a bank regulation that sets the minimum reserves each bank must hold with the Reserve Bank of India.
a) Statutory Liquidity Ration
b) Open market operations
c) Cash Reserve Ration
d) Non of these
Question 12:- When the repo rate increases borrowing from RBI becomes more __________.
a) Affordable
b) Expensive
c) Cheap
d) No changes
Question 13:- RBI issues periodical letters to bank to exercise control over credit. This tool is referred to as:
a) Rationing of credit
b) Direction Action
c) Moral Suasion
d) None of these
Question 14:- Which of the following are tools of fiscal policy?
a) Taxation
b) Public Borrowing
c) Deficit Financing
d) All of the above
Question 15:- As per the competition Act 2002, any trade practice that tends to block the flow of capital into production and also bring in conditions of delivery to effect the flow of supplies leading to unjustified cost is referred to as__________.
a) Unfair trade practice
b) Restrictive trade practice
c) Abuse of Dominance
d) None of these
Question 16:- State True or False Regional trading agreements refer to an agreement between countries in a geographical region to reduce barriers, to encourage free movement of goods and services and factors of production, across the borders of its members.
a) TRUE
b) FALSE
Question 17:- Which of the following are the advantages of Regional Grouping?
a) Countries take comparative advantage by supplying goods not available with the host countries
b) Negotiation with a few countries is easier
c) RTA increases the bargaining power of the members during WTO
d) All of the above
Question 18:- Countries eliminate duties among themselves while maintaining the same with outsiders comes under _________type of grouping.
a) Preferential Trade Agreements
b) Free Trade Area
c) Custom Union
d) Common Market
Question 19:- Which of the following factors help you to decide the technology one should use for production?
a) Comparative Cost of Production
b) Effect on employment
c) Use of Natural Resources
d) All of the above
Question 20:- Which of the following is not the characteristic of good business?
a) Diversification
b) Statice Nature
c) Large Size
d) Technological Revolution
Case Study
Corporate social responsibility is a strategic endeavour
(Author- M. Muneer is co-founder and chief evangelist of the non-profit Medici Institute , https://www.livemint.com/opinion/corporate-social-responsibility-is-a-strategic-endeavour- 11654187352364.html)
Last year’s amendment requiring audits by independent agencies for spends over ₹10 crore and projects over ₹1 crore was a good move to stop leaks from CSR allocations. With nearly two-thirds of India still living in poverty by today’s quality-of-life standards, the importance of CSR can’t be overestimated. Companies should take CSR more seriously and responsibly.
Why CSR? Giving back to society is the broad objective. But what if you could build your brand and business while doing social work? Taking care of local communities around factory locations, as Tata Steel has done in Jamshedpur for decades before India’s CSR mandate, can go a very long way. Well chosen cause marketing can enhance brand value, even if its top- or bottom line benefits are not immediately apparent. Whether mandated or not, companies need to use CSR fund wisely, instead of it being a sign-off item for the chief financial or human resources officer, who may be inclined to allot money to something that catches the CEO’s fancy. Firms need to check for strategic fit. Every worthy cause cannot be funded. Just as one’s business strategy must deliver differentiated offerings, so should CSR initiatives. Here are few guidelines for CSR efforts:
Give more than just money: Don’t just allocate funds. Involve the business as a true partner. Attend joint meetings, conduct regular reviews on the progress. Let the partner know of your business needs: NGOs partners should know that the companies which award money from their CSR budget are sincere about the causes they pick , but have business interest too.
Bridge language gap between the NGOs and the company: As both tend to focus on different aspects of the same cause, this divergence could become a serious threat to proper execution.
Last but not the least, put metrices and governance system in place: Both partners should know if the mission is getting accomplished and whether progress is on track. Companies can adopt two types of metrices, one set to measure the impact of CSR cause being supported and another to track the level of awareness within the community.
Question 21:- Which responsibility comes under social responsibility?
a) Economic Responsibility
b) Legal Responsibility
c) Ethical Responsibility
d) All of the above
Question 22:- Business responsibility is towards-
a) Shareholders
b) Workers
c) Government
d) All of the above
Question 23:- Which of the following arguments would work in favour of corporate social responsibility?
a) Business which survives using the resources of society has a responsibility to the society
b) Social involvement leads to healthy relationship between society & business
c) Social involvement would have favourable financial effects (e.g. recycling of waste)
d) All of the above
Question 24:- Which of the following arguments would work against the social responsibility?
a) There are Govt. & social organizations to carry out social activities.
b) It would affect the economic health of business
c) Both A and B
d) None of the above
Question 25:- model talks about Social responsibility of business.
a) Caroll`s Model
b) Cournot`s duopoly model
c) P Sweezy Model
d) Chamberlin Model