BUS 100 FINAL
Change
is the dominant feature of technology
Globalization:
the increasing movement of goods, services, and capital across national borders.
Which statement is not correct about the business-society interdependence?
Actions by governments rarely affect business.
Technology is self-reinforcing:
Acts as a multiplier to encourage its own faster development.
Communities depend on business for:
All of the above.
Good corporate citizens:
All of these answers are correct.
The core components upon which a company's ethical performance depends include:
All of these answers are correct.
Employees in the United States have a legal right to
Both of these answers are correct: Organize and bargain collectively; and a safe and healthy workplace.
Which of the following describes why the consumer movement exists?
Both of these answers are correct: Some product advertising claims have been inflated; and some businesses have violated the public's privacy.
Possible costs of environmental regulation include all of the following except:
Corporate restructuring.
Since the mid-1950s the proportion of American workers represented by unions has:
Decreased.
Technological innovation:
Develop new technologies to produce energy, food, and other necessities of human life more efficiently and with less waste.
Those in support of corporate social responsibility believe the practice:
Discourages government regulation.
Threat:
Job Elimination
Unaffected
Safe Jobs
Representation on the World Bank's board of directors is based on:
The size of the member nation's economy.
The five types of stakeholders' power recognized by most experts are:
"Voting, economic, political, legal, and informational power. "
Technology:
A broad term referring to the practical applications of science and knowledge to commercial and organizational activities.
Which of the following examples does not show a company guided by enlightened self-interest?
A company breaking past records by maximizing quarterly profits
Which of the following is not an example of stakeholders' economic power?
A social group protests a government's decision to raise taxes.
An individual who is a supporter of globalization would argue that it helps the developing world by:
All of these answers are correct
Many rapid changes in technology over the past few decades were facilitated by:
All of these answers are correct
Why should businesses get involved in the community?
All of these answers are correct
Business depends on the community for:
All of these answers are correct.
Corporations that run their operations according to the stakeholder theory of the firm create value by:
All of these answers are correct.
In the United States, the federal government regulates which of the following major areas of environmental protection?
All of these answers are correct.
Intellectual property refers to:
All of these answers are correct.
Public policies and government regulations are shaped by:
All of these answers are correct.
Social impacts of global supply chains include:
All of these answers are correct.
Stakeholder groups can include:
All of these answers are correct.
The growing diversity in the U.S. workforce is due to
All of these answers are correct.
An argument in support of high executive compensation is:
High salaries provide an incentive for innovation and risk-taking.
Companies that believe they can make decisions unilaterally, without taking into consideration their impact on others, are:
Inactive.
The purpose of the right to be forgotten is to:
Increase protection of privacy and personal information.
The digital divide describes the gap between those:
Individuals who have technology and those who do not.
The "right to be heard" promises that consumers' interests will:
Receive full and sympathetic consideration.
Technology's effects are widespread:
Ripples through society until every community is affected.
A large sporting goods store that raised the age for purchase of some firearms in response to public concerns for gun control were seen by detractors as:
Risking their reputation by engaging in politics.
One argument in favor of net neutrality is:
To fairly compete, small, medium, and large firms should have the same Internet bandwidth.
A legal right of shareholders is:
To vote on members for the board of directors.
A critic of globalization might argue that companies decide to manufacture in China mainly because of China's:
Weak health and safety regulations.
A prime social responsibility of business is to safeguard consumers:
While continuing to supply them with goods and services they want.
Diversity:
variation in the important human characteristics that distinguish people from one another
Which of the following is not a goal of consumer protection laws?
Facilitate consumers' getting extended credit when making purchases.
This U.S. agency enforces the laws prohibiting deceptive advertising:
Federal Trade Commission.
Why do hackers hack?
Financial incentive- Motive Retaliation motive Seeking media attention motive
Social capital is a phrase that refers to all of the following, except:
Funds set aside for company events.
An argument that opposes the idea of high executive pay is:
High salaries divert resources that could be used to invest in the business.
Which of the following is a key feature of effective boards of directors?
Hold regular meetings without the CEO present.
Changing patterns of consumption:
Individuals and organizations concerned about environmental impact could decide to consume less or choose less harmful products and services.
A firm subscribing to the shareholder theory of the firm would mainly be concerned with providing value for its:
Investors.
A stakeholder analysis:
Involves understanding the nature of stakeholder interests.
The relationship between business and the community is accurately described by:
It is one of mutual interdependence.
One argument in favor of affirmative action is:
It levels the playing field to correct past discriminatory hiring practices
The primary purpose of the International Monetary Fund is to:
Lend foreign currency to member countries.
A firm in the pollution prevention stage of the corporate environmental responsibility model is best described by which statement?
Minimizing or eliminating waste before it is created.
Suppliers2
Most suppliers share an interest in obtaining orders that will enable them to: • Make money. • Use their productive capacity efficiently. • Build long-term, stable relationships with business customers.
Government regulations help balance negative externalities such as:
No smoking rules enforced to mitigate the effects of second-hand smoke.
Which one of the following is considered to be a nonmarket stakeholder of business?
Nongovernmental organizations.
Which of the following statements is not true about the population?
Over the next century, population growth is expected to be greatest in developed nations.
One of the main reasons that American executives are paid so much is:
Pay is set by the compensation committees of the board, largely comprised of other CEOs who have an interest in pushing compensation up.
Another term for corporate giving is corporate
Philanthropy.
A common tactic in a financial-incentive political strategy is:
Political contributions
Scholars found that spirituality affects employee and organizational performance in what way?
Positively.
Environmental justice is a movement to:
Prevent inequitable exposure to risk, such as from hazardous waste
Age, ethnicity, gender, mental or physical abilities, race, and sexual orientation fall under which dimension of diversity?
Primary.
A firm that would like to develop a global supply chain would:
Purchase raw materials, components, or supplies from sellers in other countries.
Managing for Sustainability
Requires a collaborative effort among government, business and society
Concerns about corporate social responsibility are exemplified by which of these statements?
Requires skills businesses may lack.
People everywhere depend on ethical systems to tell them whether their actions are:
Right or wrong.
A person's entitlement to protection from invasion of one's personal life is called the:
Right to privacy.
A visual representation of the many links between a lead firm and its suppliers, superimposed on a geographical map is called a:
Supply chain map.
Natural capital refers to the world's:
Supply of geology, soil, air, water, and all living things.
A living wage has been defined as a wage that:
Supports half the basic needs of an average-sized family, based on local prices.
The issue management process is a
Systematic process companies use when responding to public issues that are of greatest importance to the business.
The Occupational Safety and Health Act gives workers the right to a job:
That is free from recognized hazards that are likely to cause death or serious injury.
The term civic engagement describes:
The active involvement of businesses and individuals in improving communities.
Consumers have become more dependent on businesses for product quality because:
The complexity of products makes choices complicated for consumers.
Intellectual property:
The ideas, concepts, and other symbolic creations of the human mind. • Protected through a number of special laws and public policies, including copyrights, patents, and trademark laws
Software piracy:
The illegal copying of copyrighted software.
Two critical factors have combined to accelerate the ecological crisis facing the world community and to make sustainable development more difficult:
The population explosion • Economic development
Rights of Consumers
The right to be informed. Protection against fraudulent, deceitful, or grossly misleading information, advertising, and labeling, and to be given the facts to make an informed purchasing decision. 2. The right to safety. Protection against the marketing of goods that are hazardous to health or life. 3. The right to choose. Assurance of access to a variety of products and services at competitive prices. 4. The right to be heard. Assurance that consumer interests will receive full and sympathetic consideration in government policy and the courts. 5. The right to privacy. Assurance that information disclosed in a commercial transaction or when using social media or searching online is not shared with others.
Which of the following is (are) core rights of consumers?
The right to safety.
People's ethical beliefs come from:
Their religious background, family, and education.
Cooperation between business and government often occurs when:
They encounter a common problem or enemy
Which of the following statements is not true about shareholders?
They own equal shares of company assets.
According to a 2016 survey of senior supply chain managers, what is the leading reason to invest in supplier social responsibility?
To create a positive image and enhance brand equity.
What is one reason that firms partner with communities to increase economic development?
To develop workplace skills.
The place where information is stored, ideas are described, and communication takes place in and through an electronic network of linked systems is called:
Cyberspace.
Which of the following is an example of fulfilling social objectives through stock ownership?
Divesting from Chinese companies that made products using forced labor.
Buying and selling goods and services electronically is called:
E-business
The amount of land and water a human population needs to produce the resources it consumes and to absorb its wastes given prevailing technology is called:
Ecological footprint.
Which ethical criterion is described by the idea that a company should strive for efficiency?
Egoism.
Which of the following are examples of natural monopolies?
Electric utilities and railroads.
Which type of business community consists of people who work near the company?
Employee community.
How can a lead firm improve a supplier's performance when the cost to replace the supplier is high?
Engage the supplier in capability-building.
Environmental issues
Environmental Issues ▪ Air pollution ▪ Water pollution ▪ Solid and hazardous waste ▪ Greenhouse gas emissions ▪ Deforestation
When businesses form voluntary, collaborative partnerships with environmental organizations and regulators to achieve specific objectives this is called:
Environmental partnerships.
Ethical issues
Ethical Issues ▪ Human Trafficking (forced labor) ▪ Child Labor ▪ Other human rights issues
The unspoken understanding among employees of what is and is not acceptable behavior is called:
Ethical climate.
Over time, the nature of business's relationship with its stakeholders often:
Evolves through a series of stages.
The directors of a company are a central factor in corporate governance because they:
Exercise formal legal authority over company policy.
Rules in the United States that prohibit competitors from secretly dividing up the market amongst themselves are called:
Antitrust laws.
Right to be forgotten:
Ask to be removed from internet search results personal information which is believed is damaging.
Government's role is to create and enforce laws that:
Balance the relationship between business and society.
Sustainable development
Balances economic and environmental considerations.
A technological application that uses biological systems or living organisms to make or modify products or processes for specific use is called:
Biotechnology.
One type of digital currency that operates outside the banking system using encrypted technology is:
Bitcoin.
Businesses can reduce income inequality by which action?
Commit to paying a living wage to all employees.
A shared resource, such as land, air, or water, that a group of people uses collectively is a(n):
Commons.
1 out of 1 points The board committee that administers and approves salaries and benefits of high-level managers in a company is called:
Compensation.
When attempting to build ethical safeguards into the company, businesses can take the following specific approaches:
Compliance and Integrity.
Which political action strategy seeks to gain support from other affected organizations to better influence policymakers?
Constituency-building strategy.
Four Methods of Protecting Consumers
Consumerism Government regulations Law/Court Industry
The capability of corporations to influence government, the economy, and society, based on their organizational resources is called:
Corporate citizenship.
Warning consumers about the possible side effects of pharmaceutical drugs is an example of consumer protection against:
Hazardous products
Sustainable Development
Development that "meets the needs of the present without compromising the ability of future generations to meet their own needs."
A business and its stakeholders coming together for face-to-face conversations about issues of common concern is called stakeholder:
Dialogue.
Equal Employment Opportunity
Discrimination based on race, color, religion, sex, national origin, physical or mental disability, or age is prohibited in all employment practices.
What do employees provide employers?
Make products ▪ Provide services ▪ Market to customers ▪ Run the organization internally (day to day - HR, Finance, IT, etc.) ▪ Plan for the future (R & D, new ideas, new markets etc.)
All of the following are external stakeholders of the firm except:
Managers
Which of the following is not a reason for businesses to establish community relations departments?
Managing international relations projects for economic development.
Creation
New jobs
A recent study found that, compared to the 1980s, managers today place what importance on moral values, such as honesty and forgiveness?
Slightly more important.
Some studies have shown that the burden of complying with safety regulations falls hardest on:
Small businesses.
Social Issues
Social Issues ▪ Wages ▪ Working conditions ▪ Health and safety of employees in supplier factories. ▪
Getting the prices right" :
Some economists have called for public policies that impose taxes (carbon tax) on environmentally harmful products or activities
A firm that has global operations has:
Some or all of their manufacturing or service operations abroad.
Around the world, government:
Sometimes cooperates and sometimes is in conflict with business.
Workforce diversity
diversity among employees of a business or organization:
Businesses are expected to be ethical in their relationships with:
All of these answers are correct.
Why should business be ethical?
All of these answers are correct.
Investors may receive an economic benefit from the ownership of stock by receiving:
Both dividends and capital gains.
Proponents of business as a political participant argue:
Both of these answers are correct: A pluralistic system invites many participants; and business is a vital stakeholder of government.
Which of the following is the result of the inseparable relationship between business and society?
Both of these answers are correct: All business decisions have a social impact and the vitality of business depends on society's actions and attitudes.
The primary goal(s) of the Food and Drug Administration include
Both of these answers are correct: Ensuring the safety and effectiveness of a wide range of consumer products; and reviewing and approving new products before they are released to consumers.
Women in the U.S. workforce are accurately characterized by which of these statements?
Both of these answers are correct: The participation rate has been between 46 and 47 percent since the late 2000s; and a lack of family-friendly business policies has made it difficult for working mothers.
What do employees get from employers?
$$$$ ▪ Health care benefits ▪ Retirement savings ▪ Career training ▪ Friendship networks ▪ Recreational opportunities ▪ Sense of self
Major Rights of Employees
-To organize collectively -To a safe and healthy workplace -To due process on the job -To fair and decent wages -To privacy -To blow the whistle and free speech
Five Global Problems
1. Climate Change 2. Ozone Depletion 3. Resource Scarcity 4. Decline of Biodiversity 5. Threats to Marine Ecosystems
Civic engagement
: The active involvement of businesses and individuals in changing and improving communities.
Because of the risks and opportunities public issues present, organizations need:
A systematic way of identifying, monitoring, and selecting public issues.