(Paper पेपर) आईबीपीएस IBPS लिपिकीय संवर्ग Clerk परीक्षा पेपर
Exam Paper - अंग्रेजी भाषा (English Language) "held on: 27-11-2011" (North Zone
2nd Sitting)
Directions (51·65) : Read the following passage to answer the given
questions based on it. Some words/phrases are printed in bold to help you locate
them while answering some of the questions.
‘We have always known that heedless self-interest was bad morals. We now know
that it is bad economics,” said American President Franklin D. Roosevelt in 1937
in the midst of the Great Depression. And the world has learnt that enlightened
self-interest is good economics all over again after the Great Recession of
2009. Americans are entering a period of social change as they are’
recalibrating their sense of what it means to be a citizen, not just through
voting or volunteering but also through commerce. There is a new dimension to
civic duty that is growing among Americans - the idea that they can serve not
only by spending time in communities and classrooms but by spending more
responsibly. In short, Americans are beginning to put their money where their
ideals are.
In a recent poll most said they had consciously supported local or small
neighbourhood businesses and 40 percent said that they had purchased a product
because they liked the social or political values of the company that produced
it. People were alarmed about ‘blood diamonds’ mined in war zones and used to
finance conflict in Africa. They were also willing to pay $2000 more for a car
that gets 35 miles per gallon than for one that gives less, though the former is
more expensive but environment friendly. Of course consumers have done their own
doing-well-by doing good calculation -a more expensive car that gives; better
mileage will save them money in the long run and makes them feel good about
protecting the environment. Moreover since 1995, the number of socially
responsible investment (SRI) mutual funds, which generally avoid buying shares
of companies that profit from tobacco, oil or child labour has grown from 55 to
260. SRI funds now manage approximately 11 percent of all the money invested in
the US financial markets -an estimated $ 2.7 trillion. This is evidence of a
changing mind-set in a nation whose most iconic economist Milton Friedman wrote
in 1970 that a corporation’s only moral responsibility was to increase
shareholder profits.
At first the corporate stance was defensive: companies were punished by
consumers for unethical behavior such as discriminatory labour practices. The
nexus of activist groups, consumers and government regulation could not merely
tarnish a company but put it out of business. But corporate America quickly
discerned that social responsibility attracts investment capital
as well as customer loyalty, creating a virtuous circle. Some companies quickly
embraced the new ethos that consumers boycotted products they
considered unethical and others purchase products in part because their
manufacturers were responsible. With global warming on the
minds of many consumers lots of companies are racing to ‘outgreen’ each
other. The most progressive companies are talking about a triple bottom
line-profit, planet and people – that focuses on how to run a business while
trying to improve environmental and worker conditions.
This is a time when the only thing that has sunk lower than the American
public’s opinion of Congress is its opinion of business. One burning question is
how many of these Corporate Social Responsibility (CSR) initiatives are just
shrewd marketing to give companies a halo effect? After all only 8 per cent of
the large American corporations go through the trouble of verifying their CSR
reports, which many consumers don’t bother to read. And while social
responsibility is one way for companies to get back their reputations consumers
too need to make ethical choices.
51. Which of the following represents the change/s that has/have occurred
in the American outlook?
(A) The perception that the government needs to invest resources in business
rather than in education.
(B) Loss of faith in American corporations as they do not disburse their profits
equitably among shareholders.
(C) Americans have cut down on their expenditure drastically to invest only in
socially responsible mutual funds.
(1) None
(2) Only (C)
(3) Only (A) and (B)
(4) Only (A) and (C)
(5) All (A), (B) and (C)
52. Which of the following is/are TRUE in the context of the
passage?
(A) The voter turnout during the 2009 American elections was high.
(B) African diamonds are highly valued by the American public.
(C) American firms have to spend vast amounts on advertising because activists
cast aspersions on their images.
(1) None
(2) Only (A)
(3) Only (B) and (C)
(4) Only (C)
(5) Only (A) and (C)
53. To what does the author attribute the consumers’ willingness to
purchase environment friendly vehicles?
(1) Auto companies sell these types of vehicles at lower rates in order to
boost sales in times of recession.
(2) The realisation that consumers’ greed caused the economic recession of 2009.
(3) To show their support for small entrepreneurs who are the manufacturers of
such vehicles.
(4) They have to comply with government guidelines regarding reduction of carbon
emissions.
(5) None of these
54. Which of the following is the central idea of the passage?
(1) It is beneficial to invest in American companies as they are socially
responsible and profitable
(2) Large corporations should be penalised by the American government for their
greed
(3) Ethical consumerism is profitable for organisations as well as society as a
whole
(4) Companies should be required by law to account for their impact on the
environment in their balance sheet
(5) Developing countries should learn how to combat child labour from America
55. Which of the following best describes the widespread view among
Americans about big corporations?
(1) They have been lax in fulfilling their moral responsibility of increasing
profits and benefitting shareholders
(2) They are being too severely penalised by activists and the government for
their role in the economic crisis
(3) Their innovations have brought commercial success and benefited America
tremendously
(4) They need to be held accountable for their ruthless business practices
(5) Their balance sheets are often fraudulent and deceive shareholders
56. What is the author trying to convey through the phrase ‘companies are
racing to outgreen each other’ ?
(1) The competition among companies to boost their bottom line - profit,
planet and people — is very stiff
(2) The conflict facing businesses of whether to benefit their shareholders or
the environment
(3) Corporations are vying with each other to solicit investment
(4) Companies are striving to find the necessary funds to finance their
environment friendly initiatives
(5) None of these
