Business in Society

For long-term success, a firm should focus on its organizational stakeholders. T/F

False

What is the CNN test?

How would this be viewed by watchers of CNN when broadcast around the world?

A ________ approach to corporate social responsibility allows the outcome to emerge, rather than imposing a fixed view about what should or should not happen. normative descriptive conservative critical

descriptive

According to the textbook, ecolabels are primarily designed as marketing tools. designed to measure environmental impact. becoming consistent across all industries. very useful to help consumers clearly understand the products they buy.

designed to measure environmental impact.

The 18th-century economist, Adam Smith, believed in free markets but thought that ________ was required to make markets free. the "invisible hand" the sovereign state regulation of the market price regulation of the natural price

the sovereign state

The MBA Oath was written in ________ by a group of Harvard Business School students who wanted to develop a professional vow similar to the Hippocratic Oath taken by medical professionals. 1909 1939 1979 2009

2009

Munich Re, a large German insurance company, estimates that the effects of climate change could cost companies ________ annually by 2050 in weather damage, pollution, and industrial and agricultural losses. $100 billion $300 billion $1 trillion $3 trillion

300 billion

According to the text, corporate social responsibility issues tend to gain a foothold in societies that are more ________. impoverished affluent unstable democratized

Affluent

How might stakeholders living in affluent societies impose their values on firms' overseas operations? The US government passes a Transparency in Supply Chains Act to ensure firms are using fair labor practices throughout the world. A group of consumers protest the environmental affects of an oil company's operations in South America. US-based employees of a coffee company strike because of poor labor conditions in the company's overseas coffee fields. All of the above

All of the above

Which of the following may be considered an example of corporate social responsibliity? Sending out employees in matching T-shirts to paint a wall for 5 hours a year Establishing a recycling program at work Improving supply chain conditions All of these examples may be considered CSR, depending on who is defining it.

All of these examples may be considered CSR, depending on who is defining it.

McDonald's has located its fast-food restaurants where they will be successful. This is considered a ________ of McDonald's. capability competency core competency core resource

Competency

________ are actions that the firm not only does very well but is so superior at performing that other firms would have difficulty matching its performance. Capabilities Competencies Core competencies Core resources

Core competencies

What did the Citizens United case decide? Corporations enjoy the same First Amendment rights to free speech as individuals. The Bill of Rights applies to corporations. Corporations may vote. Corporations have a duty to protect their employees from discrimination.

Corporations enjoy the same First Amendment rights to free speech as individuals.

According to the textbook, the success of COP21 relies on which of the following? Countries continually assessing their progress toward reducing carbon emissions and adjusting their targets accordingly A worldwide conversion to a combination of nuclear, solar, and wind power by 2050. The United States taking the lead in the reduction of carbon emissions. COP21 has no chance of success.

Countries continually assessing their progress toward reducing carbon emissions and adjusting their targets accordingly

Prioritizing stakeholders is easy because it is obvious which stakeholders are most important to a firm. T/F

False

Which of the following is the act of misleading consumers regarding the environmental practices of a company or the environmental benefits of a product or service? Corporate fraud Greenwashing False advertising The sin of vagueness

Greenwashing

Laws establishing Benefit Corporations impose legal requirements for firms to implement a stakeholder model. implement a shareholder model. pay a living wage to all employees. use only environmentally sustainable manufacturing processes.

Implement a stakeholder model

How does our economic model encourage waste? Our economic model does not encourage waste. It encourages constant consumption, such as buying a car every 3 years instead of every 10 years. Consumers are encouraged to purchase more reusable products than they need. Many corporations accumulate a lot of garbage as a result of their work, and many do not recycle.

It encourages constant consumption, such as buying a car every 3 years instead of every 10 years

Which of the following does strategic CSR emphasize? Short-term value creation Meeting the needs of all stakeholders Medium to long-term value creation Meeting the needs of primary stakeholders

Medium to long-term value creation

A corporation's ________ is its responsibilities and obligations as determined by corporate law and founding corporate charters. direction general goal public purpose main objective

Public Purpose

Externalities are costs that firms push onto others. account for when they purchase materials from third parties. add to the final price of a product. typically account for in the wholesale rather than the retail price of a product.

Push onto others

Which famous business leader is known for his belief that unless companies changed their approach to sustainability, business leaders like him would be judged by future generations as "thieves and plunderers of the planet"? Ray Anderson, founder of Interface Carpets Jack Welch, former chair and CEO of GE Bill Gates, founder of Microsoft Howard Schultz, chair and CEO of Starbucks

Ray Anderson found of interface carpets

Which of these is NOT a for-profit business? Facebook Nike Red Cross Uber

Red Cross

You are a CSR officer for a company, and it is your responsibility to set up a system to collect and respond to the concerns of employees or other potential whistle-blowers. Not only is this in the firm's interest, but you know that it is also required by a federal law. Which law requires such a system? Dodd-Frank Act Sarbanes-Oxley Act Affordable Care Act

Sarbanes-oxley act

Walmart's core competency is efficient distribution. T/F

T

"In a democratic society, power is taken away from those who abuse it" is a workable definition of: Carroll's CSR rule The Iron Law of Social Responsibility The Alien Tort Claims Act An accommodative view of CSR

The iron Law of social responsibility.

The European Union now requires firms to report on the risks they pose to human rights and the environment. T/F

True

The Twitter Revolution played an important part in which of the following? Tiananmen Square protests in China Tunisia's Jasmine Revolution Bus boycotts in the American South Russian Revolution

Tunisia's Jasmine Revolution

________ is the generation of a perceived benefit for an individual or a group, as defined by that individual or group. The CSR advantage The shareholder advantage The stakeholder advantage Value creation

Value creation

After the devastation of Hurricane Katrina in 2005, ________ was/were the first source of relief for residents. the federal government Walmart the state government churches and charitable organizations

Walmart

Which of the following is a significant indicator of the extent of integration of corporate social responsibility into corporate culture? Whether the firm has appointed a CSR officer Whether rewards and penalties are aligned with CSR objectives The quality of the firm's CSR position statement The CSR efforts of competitors

Whether rewards and penalties are aligned with CSR objectives

Amazon announced that it would hire a director of social responsibility after a series of workplace accidents. an accounting scandal in which profits were exaggerated. a detailed report identified high levels of bullying and stress among its employees. the CEO became dedicated to corporate social responsibility.

a detailed report identified high levels of bullying and stress among its employees.

According to the textbook, the accusation that Walmart puts "mom-and-pop" stores out of business is a fair and legitimate criticism of Walmart because of the many stores that have closed after Walmart enters a town. a fundamental misunderstanding of basic economics. misleading because of the equally important rise in e-commerce companies, such as Amazon. an unfair criticism because of the additional jobs that Walmart brings to rural areas.

a fundamental misunderstanding of basic economics.

Focusing on organizational goals, such as quarterly earnings, rather than individual actions can lead to greater short-term profits. greater awareness of the ethical implications of actions. a loss of awareness of ethical implications. weaker short-term profits.

a loss of awareness of ethical implications.

What does the market, if left to its own devices, tend toward? Abusive practices Inefficiency Values-based businesses The most efficient economic growth

abusive practices

In 1989, Ben & Jerry's was the first major corporation to allow an independent social audit of its business operations. use only fair trade goods in all of its products. be purchased through a hostile takeover for other than financial reasons. introduce the concept of a living wage for all its employees.

allow an independent social audit of its business operations.

With their ice cream firm, Ben and Jerry sought to foster a culture of religious tolerance. be a concerned and responsive employer. pay top management and the owners many multiples of the lowest-level worker's pay. support religious values by holding frequent prayer meetings.

be a concerned and responsive employer.

As a leader in environmental sustainability initiatives, Walmart is sacrificing profits to satisfy other stakeholder concerns. prioritizing environmental causes over shareholder concerns. giving in to powerful environmental lobbies. becoming more efficient in order to pass lower costs on to customers.

becoming more efficient in order to pass lower costs on to customers.

As an owner of a coal mine, you have not had to pay any fines for not failing to meet federal worker safety guidelines, but you do no more than meet the federal requirements. In Zadek's corporate responsibility model, you are in ________ mode. civil compliance defensive managerial

compliance

What are the three phases of stakeholder access to information? Industrialization, international trade, globalization Industrialization, domestic production, international trade International trade, use of internet technology, globalization Growth, globalization, job creation

industrialization, international trade, globalization

The Honest Company, founded by actress Jessica Alba, sells products such as baby diapers, wipes, and other personal care products. The Honest Company describes its products as being "made without health-compromising chemicals or compounds." This company has a ________ CSR threshold. low medium high extremely high

low

The pursuit of ________ is characteristic of firms that are implementing strategic CSR. short-term profits medium-term profits only medium- to long-term profits long-term profits only

medium-term profits only

Leaders of all organizations constantly grapple with the tradeoffs between ________ and ________. methods; results losses; profit profit maximization; profit optimization methods; strategies

methods; results

Sustainable businesses are operated over short-term horizons. to maximize quarterly returns. without regard to shareholder returns. over long-term horizons.

over long-term horizons

The COP21 agreement set a target of reducing carbon emissions to essentially zero by the latter half of this century. has legally binding agreements among all countries. established a single, internationally agreed-upon global carbon price. The COP21 agreement did all of these things.

set a target of reducing carbon emissions to essentially zero by the latter half of this century

While ________ focuses on resource utilization and waste reduction, ________ is an attempt to incorporate all the costs into the final price that is charged for a product. the circular economy; lifecycle pricing lifecycle pricing; the circular economy the circular economy; externality marketing externality marketing; lifecycle pricing

the circular economy; lifecycle pricing

The science on climate change is not disputed. What is disputed is/are who or what is responsible for climate change. the consequences of climate change. the impact of oil-based fuel technologies. the relative impact of developed countries on climate change.

the consequences of climate change.

CSR serves as "brand insurance" by: enabling the firm to develop credibility among stakeholders. creating a great public relations campaign to extol the firm's CSR efforts. enabling the firm to grow internationally. expanding current products and services to reach the poor.

enabling the firm to develop credibility among stakeholders

According to Archie Carroll's pyramid of corporate social responsibility, a firm's ________ is to do no harm to its stakeholders within its operating environment. economic responsibility legal responsibility ethical responsibility discretionary responsibility

ethical responsibility

A limited liability company is, in the eyes of the law, a person. T/F

True

One definition of corporate social responsibility is "a responsibility among firms to meet the needs of their stakeholders and a responsibility among stakeholders to hold firms to account for their actions." T/F

True

Social responsibility is more than a set of abstract standards. T/F

True

Walmart most likely has a higher CSR threshold because it is a big company. it deals with the public. it has a business strategy that pursues low costs. it is undertaking an extensive corporate social responsibility effort.

it has a business strategy that pursues low costs.

Contingency plans for the eventuality of CSR failures should be developed by the CSR officer. should not be developed by the CSR officer since to do so assumes failure. should not be developed at all, since such contingency plans send the wrong message to employees about the firm's commitment to CSR. should be developed only by the CEO in consultation with the board of directors.

should be developed by the CSR officer

If an incentive is tied to meeting a goal and corporate social responsibility is neither measured nor rewarded, reasonable people inside the firm may conclude that CSR is of secondary importance. T/F

True

One principle that should inform the use of nudges is that opting out of the nudge should be very easy. T/F

True

Which of the following exists to define the rules and structures of society within which all organizations must operate? For-profits Governments Religion Nonprofits

governments

Researchers found that placing fresh milk at the front of the counter and chocolate milk toward the back had no impact on schoolchildren's selection of milk. had an impact on schoolchildren's selection of milk. had a negative impact on schoolchildren's attitudes about nutritious foods. had an impact on schoolchildren's selection of milk as well as fresh vegetables.

had an impact on schoolchildren's selection of milk.

Research indicates that values-based businesses are increasingly common. are much less profitable than other businesses. remain rare. are much more profitable than other businesses.

remain rare

Investor relations departments should give way to stakeholder relations departments. CSR departments. internal ombudsmen. public relations departments that can manage the message.

stakeholder relations departments

Because of Nike's initial failure to anticipate the backlash against its outsourcing business model, some stakeholders will always associate this company with accounting fraud. air pollution. sweatshops. water pollution.

sweatshops

In the United States, the idea of the Benefit Corporation was established in which year? 1810 1910 1970 2010

2010

Which of the following is an example of Adam Smith's view of the business world? A small local store treats its workers well to preserve the goodwill of the community. A US-based manufacturing company opens a plant in a developing country to save labor costs. A multinational corporation ignores its environmental issues in Asia because its consumers are in Europe. A business fails to pay its workers adequately because, despite complaints from the workers, lower pay is more profitable.

A small local store treats its workers well to preserve the goodwill of the community.

The United Nations' Principles of Responsible Management Education (PRME) include which of the following? To develop the capabilities of students to work for an inclusive and sustainable economy To interact with managers of business corporations to extend our knowledge of their challenges in meeting social and environmental responsibilities To facilitate and support dialog with multiple stakeholders on critical issues related to global social responsibility and sustainability All of the above

All of the above

When prioritizing stakeholders, firms may consider which of the following factors? Employee happiness Community desires Supplier demands All of the above

All of the above

Which of the following is an example of an economic argument for corporate social responsibility? A company invests in clean energy for its vehicles because it saves money on transportation. A company installs skylights in its stores to lower lighting costs. A company provides gym memberships to its employees to lower healthcare costs. All of the above are examples of economic arguments for CSR.

All of the above are examples of economic arguments for CSR.

Which of the following is NOT an example of the Walmart paradox? Walmart employees complain about low wages even though there are routinely more job applicants than openings available. Suppliers complain that their margins are continually squeezed but compete fiercely to supply Walmart with its products. Regulators complain that the state has to subsidize the low wages and benefits Walmart pays its employees while they welcome the jobs Walmarts provides. All of these are examples of the Walmart paradox.

All of these are examples of the Walmart paradox.

The ________ in 1987 popularized the term sustainability. Kyoto Protocol Brundtland Report Paris COP21 Rio Climate Change Convention

Brundtland Report

Unilever has committed itself to implementing ________ as a core component of strategy and operations. profit sharing corporate social responsibility shareholder actvism cause marketing

CSR

According to the textbook, the United States Climate Action Partnership (USCAP), formed by a group of energy and manufacturing firms, is CSR as brand insurance. CSR as a corporate social opportunity. CSR as a key component of cost-benefit analysis. CSR as an offensive strategy.

CSR as brand insurance

Behavioral economics has shown that subtle nudges to human behavior are highly unethical. are generally ineffective. are most effective in developed countries. can have dramatic effects.

Can have dramatic effects

Who is most likely the author of the following quote? "It is salutary to ask about any organization, 'If it did not exist, would we invent it?' 'Only if it could do something better or more useful than anyone else' would have to be the answer, and profit would be the means to that larger end." Charles Handy Milton Friedman Barack Obama Congressional Banking Oversight Committee

Charles Handy

You are the owner of a local bakery. You recognize that by paying your hourly employees a living wage, you will serve the interests of the employees as well as maintain a more stable workforce in your firm. In Zadek's corporate responsibility model, you are in ________ mode. civil compliance defensive managerial

Managerial

Which of the following is NOT one of the components of the working definition of strategic CSR? Understanding and responding to needs of stakeholders Responsibly addressing environmental sustainability Incorporating a CSR perspective within the firm's culture and strategic planning processes Any actions taken are directly related to core operations.

Responsibly addressing environmental sustainability

In the 1790s, consumer boycotts occurred in reactions to which of the following? Cheap cotton from the United States The high price of fuel (lamp) oil The use of the Royal Navy in England to transport slaves Slave-harvested sugar

Slave-harvested sugar

Which of the following are NOT an example of stakeholder retaliation? Governmental regulations related to cleaning products Boycotts by consumers of cleaning products that harm the environment TV advertisements for a cleaning product that does not harm the environment Strikes by employees for higher wages

TV advertisements for a cleaning product that does not harm the environment

In the early history of corporations, what was the primary purpose of shares? To raise capital and provide a return on that investment To encourage innovation To allow outsiders to control a corporation's major decisions To implement social good by a corporation

To raise capital and provide a return on that investment

________ stakeholders are external to the firm. Organizational Employee Societal Personal

societal

According to the textbook, corporate social responsibility concerns the economic, legal, ethical, and ________ issues that stakeholders view as directly related to the firm's plans and actions. environmental governance social discretionary

discretionary

Corporate social responsibility adds value because it allows companies to reflect the needs and concerns of their various stakeholder groups. This statement reflects the ________ argument for CSR. ethical moral rational economic

economic

Strategic CSR expounds the ________ argument in favor of corporate social responsibility. Financial Economic Political Social

economic

Integrating a stakeholder perspective into a strategic framework allows firms to respond to stakeholder demands in ways that maximize both ________ and ________ value. economic; social stakeholder; social economic; shareholder environmental; stakeholder

economic; social

New communication technologies have enhanced the power of media conglomerates. increased consumer buying power. decreased the power of media conglomerates. enhanced the ability to hide unfair business practices.

enhanced the power of media conglomerates

The incorporation process (corporate governance) in the United States is currently regulated under state, rather than federal, law. under federal, rather than state, law. under both federal and state law. under local, state, and federal law.

under state, rather than federal, law

Firms, like Enron, that ignore their ________, eventually are held accountable for their actions. CSR threshold CSR reporting primary stakeholders executive accountability

CSR threshold

As CEO of a manufacturing firm, you introduce a standardized process to measure the carbon footprints of your entire product line and report the information on the labels of your products. In Zadek's corporate responsibility model, you are in ________ mode while facing a(n) ________________ issue. defensive; latent civil; institutionalized managerial; latent defensive; emerging

Civil; institutionalized

Which of the following is NOT an example of economic stakeholders? Competitors Consumers Employees Shareholders

Employees

Global warming is a prediction. T/F

False

If stakeholders do not express dissatisifaction with a firm's actions, it means they are satisfied. T/F

False

At the United Nations COP21 meeting that took place in Paris in 2015, companies such as Alcoa, Apple, Bank of America, Cargill, Coca-Cola, General Motors, Google, Microsoft, and Walmart committed significant resources to cutting carbon emissions. Such recognition of the reality of climate change indicates that this issue is in the ________ stage. latent manifest emerging institutionalized

Institutionalized

Values-based businesses view CSR as ________ rather than as ________. an opportunity; a way of doing business a cost; an opportunity an opportunity; a cost a way of doing business; an opportunity

an opportunity; a cost

According to the Organization for Economic Co‑operation and Development (OECD), the average American produces ________ of trash per day. less than 3 pounds approximately 3.3 pounds between 4.5 and 7 pounds more than 8 pounds

between 4.5 and 7 pounds

The development of a firm's corporate social responsibility position statement: should be kept confidential because otherwise competitors will gain strategic insights. is an essential step toward creating awareness of CSR in the firm. can be a useful tool against whistle-blowers inside the firm. should not engage employees in CSR.

is an essential step toward creating awareness of CSR in the firm.

From a company's perspective, ________ is made up of clean air, reliable availability of freshwater, and productive topsoil. natural capital environmental accounting environmental profit and loss renewable capital

natural capital

________, a values-based business, states that its goal is to "find new measures of success that do not depend on selling an ever increasing number of goods and services." Ben & Jerry's Patagonia The Body Shop Zappo's

patagonia

Pepsi's efforts to measure the carbon footprint of Tropicana orange juice revealed that the majority of carbon emissions occur during ________ of the juice. packaging production distribution use and disposal

production

In terms of oversight, liability, responsibility, and regulation, ________ is considered the friendliest place to do business in the United States. California Delaware Florida Texas

Delaware

Which of the following is true in relation to CSR and many other aspects of business? It does not pay firms to be too far ahead of the curve. Firms that take the lead on CSR issues are almost always rewarded by consumers. It pays firms to be way ahead the curve. Firms that take the lead on CSR issues are never rewarded by consumers.

It does not pay firms to be too far ahead of the curve.

How does strategic CSR seek evolution of the current economic model? It seeks to reform the current system so that value is created broadly by integrating a CSR perspective into firm strategy and throughout operations. It seeks to create a new economic system that does not have the flaws of the current model. It seeks a piecemeal fix of the current economic model by addressing small issues over a longer period of time. It seeks to develop the current system through government regulation of firm practices.

It seeks to reform the current system so that value is created broadly by integrating a CSR perspective into firm strategy and throughout operations.

Why is Dartmouth College v. Woodward an important case in CSR? It illustrates the important relationship between education and other societal institutions. It set the legal precedent that corporations are understood to be legal individuals. It established legal autonomy for educational institutions to teach controversial subjects such as the theory of evolution. It set the legal precedent of requiring state funding for public education.

It set the legal precedent that corporations are understood to be legal individuals.

In 1911, a US Supreme Court ruling forced Standard Oil to pay its employees more fairly. hire members of minority groups. break up into separate companies. remove lead from its gasoline.

break up into separate companies.

In 2012, The New York Times exposed a scandal in which Walmart was falsely reporting its environmental sustainability initiatives. falsely reporting its hiring practices regarding women in management positions. reducing the hours of employees to part-time in order to avoid paying for health insurance. Correct bribing Mexican officials to speed the granting of permits to open new stores.

bribing Mexican officials to speed the granting of permits to open new stores.

A central feature of Prahalad and Hamel's model of business strategy is its focus on functional business units within a firm. core competencies within a firm. core competencies of competing firms. firm comparisons across industries.

core competencies within a firm.

Mercedes-Benz and other luxury goods producers can charge a premium for the ________ that consumers value. customer support differentiation luxury virtuous cycle

differentation

________ seek firms with a share price that reflects sound economic fundamentals, while ________ seek firms based on whether they the share price will rise. Speculators, investors Investors, speculators Stakeholders, shareholders Shareholders, stakeholders

investors, speculators

The ________ is typically recognized as the earliest modern business corporation. East India Company Ford Motor Company Lorillard Tobacco Company Southern Pacific Railroad

East India Company

Lifecycle pricing involves the incorporation of ________ in the final price of a product. externalities indirect costs internalities circular pricing

Externalities

________ is the term for the societal costs associated with air pollution from diesel trucks that transport products from factories to stores. Externalities Internalities Sustainability costs Lifecycle costs

Externalities

Vision statements do not need to appeal to multiple stakeholders. T/F

False

When we teach children not to steal, we are teaching them ethics. individual ethical decision making. Correct morality. ethics and morality.

Morality

A corporation is a fictitious legal person that is endowed with many of the characteristics of a human being. T/F

True

A significant reason for the supremacy of market forces is the pivotal role of profit. T/F

True

Corporate social responsibility can be defined as the responsibility of firms to act in accordance with stakeholder needs. T/F

True

Timberland's 2006 Our Footprint labeling scheme avoided mentioning the social impacts of its production process. avoided mentioning environmental impacts. discussed social impacts and the triple bottom line. clearly listed the environmental and social impacts of the production process for each of its products.

clearly listed the environmental and social impacts of the production process for each of its products.

The "Walmart paradox" refers to the fact that Walmart is criticized as being bad for society while also being the largest company in the world. a leader in both sustainability and supply chain management. known for squeezing the margins of its suppliers as well as paying low wages. constrained by both societal stakeholders and company shareholders.

criticized as being bad for society while also being the largest company in the world.

IKEA's ________ statement is "To create a better everyday life for the many people." mission vision strategy tactics

vision

The rational argument for corporate social responsibility is summarized by the Iron Law of Social Responsibility, which states that: ultimately it is government, not business, that is responsible for a satisfying society. responsibility for a just society is everyone's responsibility. in a free society, discretionary abuse of societal responsibilities leads, eventually, to mandated reprisals. concern for CSR must be the first priority of the courts

in a free society, discretionary abuse of societal responsibilities leads, eventually, to mandated reprisals.

According to the textbook, ________ are becomingly increasingly important in developing countries for conducting business. business school graduates elements of technological infrastucture, such as fixed landlines mobile phones NGOs

mobile phones

According to the textbook, how to measure corporate social responsibliity is becoming widely understood with the implementation of ISO 26000. becoming widely understood as more business schools teach principles of CSR in required courses. one of the most pressing and contentious areas of the CSR debate today. a non-issue when taking the perspective of strategic CSR.

one of the most pressing and contentious areas of the CSR debate today.

Johnson & Johnson's "Credo" places ________ as its lowest priority. employees customers stockholders Johnson & Johnson treats all its stakeholders equally.

stockholders

The ________ are the day-to-day management decisions made to implement the firm's ________. strategies, tactics tactics, strategies tactics, vision strategies, vision

tactics, strategies

In the event that a shareholder resolution is passed by a majority at a company's annual general meeting (AGM), in most cases the company is obliged to take action immediately. create a plan for implementation of the idea and present it to shareholders. consider the proposal at its next board meeting. do nothing.

take action immediately.

The bottom of the pyramid (BOP) refers to the largest sector of the four-tier pyramid used to represent the world's population by income. the section of the economy occupied by the wealthiest individuals. the smallest sector of the four-tier pyramid used to represent the world's population by income. the section of the economy that serves as the base for future economic development.

the largest sector of the four-tier pyramid used to represent the world's population by income.

According to the text, the range of firm behavior that generates value for both internal and external stakeholders in sufficient quantities is termed ________. the strategic CSR window of opportunity the strategic CSR best practices maximizing strategic CSR strategic CSR expansion

the strategic CSR window of opportunity

to pay greater attention to corporate social responsibility. to have the resources to mount an effective corporate social responsibility campaign. to attract less attention from consumers on issues unrelated to price. to be big and thus attract greater attention from interest groups

to attract less attention from consumers on issues unrelated to price.

As the CEO of a publicly traded company, you decide your firm will no longer issue quarterly earnings reports to shareholders. A legitimate reason for your decision is to emphasize the importance of medium- to long-term value creation. to emphasize the importance of short-term financial strategies. to encourage investors to buy stock in your company. to discourage investors from buying stock in your company.

to emphasize the importance of medium- to long-term value creation.

According to Richard Thaler, all nudging should be ________ and ________. efficient; used for the common good transparent; efficient transparent; used for the common good well intentioned; efficient

transparent; used for the common good