Introduction to Business Final Spring 2026 Question Paper

Answer the all following questions 1. Define business by incorporating different scholarly perspectives and explain its essential characteristics in detail. Discuss how business activities contribute standard of living? (8 Marks) 2. a) A large manufacturing company has recently been criticized for its lack of transparency in environmental practices and employee welfare policies. As a result, regulatory authorities and public interest groups have increased scrutiny over its operations. In this context, apply the concept of social auditing to explain its importance in ensuring accountability and transparency in business operations. Additionally, apply your understanding to discuss how different watchdog groups contribute to monitoring business activities. (8 Marks) b) A company reinvests all its profits to provide affordable healthcare services in rural areas. Apply the concept of social business to analyze how such a model contributes to social welfare and economic development. (8 Marks) 3. a) An organization is experiencing inefficiencies due to lack of coordination among its departments, unclear goals, and poor performance monitoring. Managers are struggling to align activities with organizational objectives. In this context, analyze the four primary functions of management planning, organizing, leading, and controlling and examine how these functions are interconnected in ensuring the effective achievement of organizational goals (8 Marks) b) Analyze the differences between social business and traditional business in terms of objectives, profit distribution, and performance measurement. Support your answer with relevant examples. (8 Marks)