MANA 4340 exam 1

Which of the following is NOT listed as a general issue involving social or ethical ramifications within the relationship between business and society?

Death penalty

If we consider the stakeholder typology, and the three attributes of power, group number seven in the very center is called

Definitive stakeholder

The view of stakeholders that recognizes the firm's moral responsibilities to all stakeholders, but that they should not be seen as fiduciary obligations is called the

Stakeholder synthesis approach

Stakeholders who have high potential for cooperation and a low potential for threat to the firm are known as

Supportive stakeholder

The Triple Bottom Line concept focuses on economic, social, and environmental performance, the key elements of

Sustainability

The first and primary argument for corporate social responsibility is

it isn in a businesses long range interest to be socially responsible

The concept of business responsibility based on using laws to constrain business behavior is referred to as the

legal model

Recognition that all stakeholders depend on each other for their success and financial well-being is a concept known as

Stakeholder symbiosis

Which of the following is NOT listed as a question to ask in order to gain the essential information needed for stakeholder management?

What do our stakeholders want?

An entitlement mentality is

An outgrowth of the of the revolution of rising expectations

Which of the following is NOT a strategy or action alternative in the best addressing stakeholders?

Collaborate or participate

Financial returns from socially conscious investment funds are

Competitive with returns from other investments

The most important stakeholders of a business are typically its

Consumers

The narrow view of corporate citizenship focuses solely on

Corporate community relations

An argument for corporate social responsibility is that it helps compete in the global economy t/f

False

Corporate social responsiveness is focused on the action phase management response to stakeholders demands t/f

False

Stockholders are owners of shares in a corporation t/f

False

The Iron Law of Responsibility states that people who use power wisely will be rewarded with more power t/f

False

The transactional level of stakeholder management capability requires companies to compete on the basis of their financial strength and tangible assets t/f

False

Benefits to companies of good corporate citizenship include all of the following EXCEPT

Fewer government regulations

Which entity published annual "World's Most Admired Companies" rankings?

Fortune Magazine

The ______ argument against CSR focuses on the consequences of the requirement that business must internalize costs that it formerly passed on to society in the form of dirty air and unsafe products, the costs of which might necessitate raising prices

Global Competitiveness

A purposeful aggregation of people who represent a common cause or share common beliefs is called

Interest group

The challenges of stakeholders management include all of the following EXCEPT

Maintaining strong relations with governmental stakeholders

Which of the following is not a characteristic of a socially responsible company?

Makes above average financial returns

The view of the firm that recognizes suppliers, customers, employees and owners as stakeholders is the

Managerial view

Which of the following is NOT a valid criticism of stakeholder management?

Managers are not trained in this type of management

The view of stakeholders that sees them as more than just people or groups who can wiled economic or legal power is the

Multifiduciary approach

The part of corporate social responsibility that focuses on business's voluntary activities which are not normally expected of a firm is

Philanthropic

The most efficient use of corporate wealth to benefit the public is through contributions to charity and other worthy causes called

Philanthropy

A nonhuman species (such as the spotted owl) that holds a direct stake in the firm is called a

Primary nonsocial stakeholder

A group of people who holds a direct stake in the firm is known as

Primary social stakeholder

The view of the firm that recognizes just suppliers and customers as stakeholders is the

Production view

An interest or share in something is referred to as a(n)

Stake

For sustainable development to become reality, which approach offers the best opportunity for this to happen?

Stakeholder

The early definition of corporate social responsibility was

Seriously considering the impact of the company's actions on society

Which of the following is NOT a strategic step toward successful stakeholder management?

Setting goals for stakeholder inclusion

The demographics, lifestyles, and social values of a society determines the firm's

Social environment

The set of reciprocal understandings that characterize the relationships between major social institutions is called the

The social contract

A child's assumption that he or she will have a higher standard of living than the previous generation is called the revolution of rising expectations t/f

True

A major criticism of the stakeholder management approach is that it is extremely complex and time consuming t/f

True

A major distinction between the managerial view of the firm and the stakeholder view is the recognition that groups who think they have a stake in the firm are properly included as stakeholders, whether mangers of the firm agree with them or not t/f

True

A society more satisfied with corporate social responsiveness, performance, and citizenship will invariably have increased criticism of business t/f

True

Affluences refers to the level of wealth, disposable income, and standard of living of a society t/f

True

Business interacts with many stakeholder groups t/f

True

In the typology of organizational stakeholders shown in figure 3-8, a stakeholder that holds both high potential for cooperation with and threat to the firm is seen as a mixed blessing t/f

True

Research has indicated that improvements in corporate social performance are associated with improved financial results t/f

True

Some authors now argue that stakeholder inclusion is the key to corporate success. t/f

True

The CSR pyramid is a stakeholder model-- that is, each of its components addresses different stakeholders t/f

True

The assumption underlying the instrumental value of the stakeholder model is that effective stakeholder management should lead to achievement of traditional business goals such as profits and growth t/f

True

The business environment in current times can best be described as turbulent t/f

True

The company town, in which a major employer builds homes and commercial buildings, and provides the goods and services needed by its employees, is an example of paternalistic social responsibility t/f

True

The key to effective stakeholder management is in its implementation t/f

True

The percentage of the U.S. population that has earned high school diplomas and college degrees has increased over the last thirty years t/f

True

The primary factor behind the transition from a relatively simple business model to a highly complex state we now have is public recognition that the business organization is no longer the sole property or interest of its owners t/f

True

The social contract in the modern era is changing rapidly and dramatically t/f

True

When speaking of business in the collective sense, the textbook will most often be focusing on BIG business t/f

True

When a business affects the life of a member of the surrounding community without meaning to, the company has wielded

Unintentional power

The relationship between corporate social performance and financial performance is viewed from three different perspectives. The perspective that views social responsibility as a "fair weather" concept

Views social responsibility as driven by the firm's financial performance

Corporate social RESPONSIVENESS emphasizes

action, activity

Corporate social performance emphasizes

outcomes and results

The levels of power include all of the following EXCEPT

the institutional level