11th NCERT Business Studies Chapter 6

Social responsibility of business refers to its obligation to take desirable decisions and actions based on societal values, beyond legal requirements. It involves voluntary actions for the benefit of society, whereas legal responsibility may just require compliance with the law.

The environment is the totality of man's surroundings, both natural and man-made. Environmental pollution is the injection of harmful substances into the environment, often as a result of industrial production, causing harmful effects on human life and other species.

Business ethics concerns what is right and wrong in human behavior based on socially determined standards. The basic elements include top management's commitment, establishment of compliance mechanisms, involvement of employees at all levels, and measuring results.

a) Air Pollution: Involves the introduction of harmful substances into the air, impacting human and environmental health. b) Water Pollution: Refers to the contamination of water bodies with harmful substances, affecting aquatic life and human health. c) Land Pollution: Occurs when harmful substances pollute the soil, impacting plant growth, wildlife, and human health.

The major areas of social responsibility of business include serving the interests of various stakeholders such as customers, employees, suppliers, government, and the community, beyond just pursuing profits.