An entrepreneur only focuses on profit and ignores social impact. Which weakness does this show?
Answer and explanation
Correct answer: Lack of social responsibility
An enterprise affects employees, customers, communities, and sometimes the environment. Social responsibility means considering these effects, treating stakeholders fairly, and avoiding harm while pursuing business goals. Focusing only on profit may produce unfair practices, loss of trust, or unsustainable decisions. The other options do not describe this weakness.
Frequently asked questions
What is the correct answer to this question?
Lack of social responsibility
Why is this the correct answer?
An enterprise affects employees, customers, communities, and sometimes the environment. Social responsibility means considering these effects, treating stakeholders fairly, and avoiding harm while pursuing business goals. Focusing only on profit may produce unfair practices, loss of trust, or unsustainable decisions. The other options do not describe this weakness.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Social Responsibilities of Business and Business Ethics. Topic: Concept of social responsibility.
