chapter 4 - corporate social responsibility

Which of the following companies implements Milton Friedman's view of the corporate world

A company that makes as much profit as possible to ensure that the investments made by the company are successful

Which of the following best illustrates the social contract approach to corporate management

At Redder Enterprises, employees' wages have grown at a higher rate than inflation

Which of the following illustrates a firm having a triple bottom-line (3BL) approach

Brink-T Technologies donates ten percent of its profit to charity, reduces toxic emission from its plants, and has ten percent increase in financial turnovers

_____ is one of the newest and increasingly questionable practices in the world of corporate social responsibility (CSR).

Carbon neutral operations

According to Joseph F. Keefe, which of the following is true of the major trends behind the corporate social responsibility (CSR) phenomenon

Corporations are under increasing pressure from diverse stakeholder constituencies to demonstrate that business plans and strategies are environmentally sound and contribute to sustainable development

Which of the following is an example of corporate social responsibility (CSR

Dawson Inc. uses a clean-fuel technology shuttle for employee conveyance

Why is it difficult for many organizations to make the transition from corporate social responsibility (CSR) as a theoretical concept to CSR as an operational policy

Delayed response in financial gains tests the commitment of those organizations that are inclined to dispense with experimental initiatives

Which of the following statements is true of Milton Friedman's view of the corporate world

Friedman argues that, as an employee of the corporation, a manager has an ethical obligation to fulfill his role in delivering on the expectations of his employers

Which of the following, according to Joseph F. Keefe, is a major trend behind the phenomenon of corporate social responsibility (CSR)?

Increased transparency of companies

Which of the following illustrates that a company has failed at implementing corporate social responsibility (CSR)?

It does not pay all taxes related to the profitable business operations

In addition to achieving social benefits, which of the following best illustrates an example of a company effectively implementing corporate social responsibility (CSR

It fulfills all its legal obligations

Spark Inc. (SI), a multinational corporation, had reported large losses in the previous financial year. To overcome these losses, the company planned to take the instrumental approach to corporate management. Which of the following best illustrates this approach

It uses its resources to enhance the productivity of employees and thus increases profits

Which of the following is an example of an organization's instrumental approach to corporate social responsibility (CSR)?

Larsen's Corp., an investment company, uses different mechanisms to increase profits and has performance incentives for its employees

The most famous advocate of the instrumental approach model to corporate social responsibility is the Nobel Prize-winning economist _____.

Milton Friedman

Which of the following statements is true of corporate social responsibility (CSR)

The awakening to CSR for most companies happened only after being surprised by public responses to issues that had not previously been a part of their business responsibilities

What is the difference between the old social contract approach and the modern social contract approach to corporate management

The modern social contract approach aims to meet the demands of all stakeholders and the shareholders, whereas the old social contract approach was based only on economic growth

Which of the following statements is true of the social contract approach to corporate management

The modern social contract approach argues that there is an obligation for the corporation to meet the demands of society rather than just the demands of a targeted group of customers

Bector Airlines supports relief camps in the Republic of Cadmia with donations of both money and employee-donated volunteer hours. It also provides packaged food in times of natural crises such as hurricanes, earthquakes, etc. This is an example of _____ corporate social responsibility (CSR

altruistic

In _____ corporate social responsibility (CSR), organizations take a philanthropic approach by underwriting specific initiatives to give back to the company's local community or to designated national or international programs

altruistic

Organizations pursue operational efficiency through detailed monitoring of their _____, that is, how much money is left after all the bills have been paid from the revenue generated from the sale of their product or service

bottom line

The practices of making a company's operations _____ to offset damage to the environment through their greenhouse gas emissions was initially developed as a solution for those industries that face significant challenges in reducing their emissions

carbon neutral

The policy of corporate social responsibility (CSR), where doing what's best for the customers translates into what's best for the company in the long run, exemplifies the _____.

concept of doing well by doing good

Another term for corporate social responsibility (CSR) is _____.

corporate citizenship

Happy Times (HT) is an alcohol manufacturing brand that deals with several types of alcoholic beverages. HT uses social media for promoting the message of responsible drinking. It sponsors the FreeTaxi program for customers with HT membership on Christmas and New Year's Eve. It has also initiated several community welfare projects where a percentage of the profits go to the Hunger Relief Fund for Children. In the given scenario, which of the following is best illustrated

corporate citizenship

The term "_____" is best defined as the actions of an organization that are targeted toward achieving a social benefit over and above maximizing profits for its shareholders and meeting all its legal obligations

corporate conscience

Henry Ford II recognized that _____.

corporations do not operate in an isolated environment

A true statement about corporate social responsibility (CSR) initiatives is that they _____.

do not always generate immediate financial gains to the organization

Corporations that experiment with corporate social responsibility (CSR) initiatives run the risk of creating adverse results as

employees feel that they are working for an insincere, uncaring organization

Organizations pursuing a clearly defined sense of social conscience in managing their financial responsibilities to shareholders, their legal responsibilities to their local community and society as a whole, and their ethical responsibilities to do the right thing for all their stakeholders follow a(n) _____ corporate social responsibility (CSR) initiative

ethical

According to Joseph F. Keefe, which of the following is a major trend behind the corporate social responsibility (CSR) phenomenon

globalization

Which approach to corporate social responsibility (CSR) assumes that there are no external consequences to the actions of the corporation and its managers

instrumental approach

Corporate social responsibility (CSR) always assumes that a corporation is

operating in a competitive environment

Hoffmann Enterprises (HE), a manufacturer of industrial goods, primarily focuses on meeting the demands of the market with quality products. It also undertakes environmental protection endeavors that promote the use of renewable sources of energy. HE illustrates the _____ approach to corporate management

social contract

The _____ approach to corporate management refers to the perspective that a corporation has an obligation to society over and above the expectations of its shareholders

social contract

According to the _____ to management, by recognizing stakeholders and not just shareholders, corporations must maintain a long-term perspective rather than simply delivering quarterly earnings numbers

social contract approach

_____ corporate social responsibility (CSR) refers to the philanthropic approach to CSR in which organizations target programs that will generate the most positive publicity or goodwill for the organization but which runs the greatest risk of being perceived as self-serving behavior on the part of the organization

strategic

The definition of corporate social responsibility as the actions of an organization that prioritize social benefit over maximizing profits and meeting legal obligations assumes that

the corporation is operating in a competitive environment

The instrumental approach to corporate social responsibility (CSR) states that

the only obligation of a corporation is to maximize profits for its shareholders

A criticism of the triple bottom-line (3BL) approach is that _____.

there is no record or real evidence on how it can be measured

The approach that considers a company's social, financial, and environmental impact rather than focusing solely on its financial impact is the _____ approach

triple bottom line