Business and Society Chapter 1 - 4

When working well, the issue management process:

Continuously cycles back to the beginning and repeats.

All of the following are examples of the phrases of Corporate Social Responsibility except:

Corporate Charity Principal

People's ethical beliefs come from:

Their religious background, family, and education.

When the benefits of an action outweigh its costs, the action is considered ethically preferred according to:

Utilitarian reasoning

The five types of stakeholders' power recognized by most experts are:

Voting Economic Political Legal Informational Power

According to management scholar Karl Albrecht, scanning to acquire environmental intelligence should be focus on

8 strategic radar screens

Which of the following companies is being the most socially responsible?

A company trying its best to operate in a way which will help local students get education and jobs.

Scholars have found:

A positive association between social and financial performance.

A social enterprise:

Adopts social benefit as its core mission.

All of the following values are present in most ethical decisions except:

Be courteous

Failure to understand the beliefs and expectations of stakeholders:

Causes the performance-expectations gap to grow larger.

A corporation should act in a way that enhances society and its inhabitants and be held accountable for any of its actions that affect people,their communities, and their environment:

Corporate Social Responsibility

Modern corporations should be socially responsible because they:

Create jobs Influencing the live of employees

As business becomes increasingly global:

Cross-cultural contradictions will increase.

The "graying" of the population is an example of:

Customer environmental

The three elements of a Drivers of Stakeholders Engagement:

Goals Motivation Organizational Capacity

What are the five steps or stages in the issue management process:

Identify Issue Analyze Issue Generate Options Take Action Evaluate Results

The components of a typical issue management process include:

Identify Issue Generate Options Take Action

The iron law of responsibility says that"

In the long run, those who do not use power responsibly will lose it.

The stakeholder management is more effective as a corporate strategy.

Instrumental Argument

A stakeholder map is useful took because

It enables manager to see quickly how stakeholders feel about an issue. It allows managers to evaluate what outcomes are likely regarding an issue.

The reason(s) behind the uncertainty of an ethical or unethical decision is (are) that different people and groups"

Many honestly and genuinely use different sourced of information May rank various rights in different ways. May not share the same meaning of justice.

When undertaking social initiatives, a company:

May sacrifice short-term profits

The stakeholder management is simply the right thing to do.

Normative Argument

An analysis of the stability or instability of a government is an example of scanning the:

Political Environmental

What kind of power might a local community use to influence a company's decision?

Publicizing an issue Lobbying government policy makers for regulations. Challenging whether a business activity should continue to operate.

Reason(s) for adopting an enlightened self interest approach is (are):

Reasonable short-run costs are incurred but socially responsible activities are promoted. The public's attitude toward the company is positive in the long run. The stockholders' pressures for short-run profits are satisfied.

Stakeholders engagements, at its core:

Relationship

A firm subscribing to the ownership theory of the firm would mainly be concerned with providing value for

Shareholders

The role of special interest groups is an important element in acquiring intelligence from the:

Social Environment

Corporation's have a role in establishing their community's

Tax Base Safety Economic Growth

A number of European countries require public companies to include employee members their boards of directors so

That their interests will be explicit represented.

Which of the following statements is not true about the interactive social system?

The boundary between business and society is clear and distinct.

Refers to a persons and groups that affect, or are affected by, an organization's decisions, policies, and operations

Stakeholder

Modern manager's job is to identify relevant stakeholders and to understand both their interests and the power they may have to assert these interests.

Stakeholders Analysis

The fiduciary duty of managers benefits a forms

Stockholders Customers Employees

Stakholders groups can include

Stockholders The media Environmental Activists

A bottom-line mentally in business is reflected in which statement?

We have to beat the others at all costs.

Descriptive argument

Which argument says that stakeholder management realistically depicts how companies really work?

All business decisions have a social impact. The vitality of business depends on society's actions and attitudes.

Which of the following is the result of an inseperable relationship between business and society?

A conception of right and wrong is:

the definition of ethics

Utilitarian reasoning primarily considers:

the end results of an action

A purchasing agent directing her company's orders to a firm which she received a valuable gift, is an example of:

Conflict of Interest

Businesses are expected to be ethical in their relationships with:

Stockholders Customers Competitors

Legal environmental intelligence includes:

Considerations of patents Copyrights Trademarks

The costs of corporate social responsibility may ultimately be passed on to the:

Consumer through high prices.

Customer environmental intelligence includes:

Demographic factors

The stakeholder view is simply a more realistic description of how companies really work.

Descriptive Argument

The issue managemnt process has how many stages?

Five

That all organisms are ope to, and interact with, their external environments.

General System Theory