Social Resp and Ethics Ch 1 Quizes

Which statement is not correct about the business-society interdependence?

Actions by governments rarely affect business.

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

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

Which of the following is the result of the inseparable relationship between business and society

All business decisions have a social impact and the vitality of business depends on the societies actions

Customers can exercise economic stakeholder power by

Boycotting products if they believe the goods are too expensive

Stakeholders have been able to form international coalitions more successfully through use of:

Communications technology

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

Descriptive argument

The main reason a number of European countries require public companies to include employee members on their boards of directors is so that

Employees' interests will be explicitly represented

What stakeholder group(s) can exercise legal power?

Employees. Customers. Shareholders.

All of the following are external stakeholders of the firm except

Managers

The instrumental argument says stakeholder management is:

More effective as a corporate strategy.

Which one of the following is considered to be a nonmarket stakeholder of business?

Nongovernmental organizations.

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

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

The phenomenon of a person or group holding multiple stakeholder duties is referred to as:

Role sets.

When something stands out from a background, is seen as important, or draws attention it is:

Salient.

The fiduciary duty of managers benefits a firm's:

Shareholders Customers Employees.

Stakeholder groups can include:

Shareholders. Business support groups. Environmental activists.

In the case Insuring Uber's App-On Gap, which stakeholders supported ending the App-On Gap?

Uber customers, Uber drivers, consumer lawyers.

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

Voting, economic, political, legal, and informational power.

Interactions between business and society occur:

Within a finite natural ecosystem.

Stakeholder Analysis

Involve understanding the nature of stakeholders interest

A stakeholder map is a useful tool because:

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

In the case Insuring Uber's App-On Gap, which type of power do Uber customers have?

Legal and economic.

When a community group sues a company for health effects caused by the unsafe disposal of toxic chemicals, this is an exercise of a stakeholder's

Legal power.

A market stakeholder is exemplified by which of the following?

Creditors.

With the explosive growth of technologies that facilitate the sharing of information, this kind of stakeholder power has become increasingly important:

Informational power.

Corporations that run their operations according to the stakeholder theory of the firm create value by:

Innovating new products. Increasing their stock price. Developing their employees' professional skills.

Stakeholders stand out to managers when they exhibit:

Power, legitimacy, and urgency.

Which of the following statements is (are) correct about stakeholders' power?

Different stakeholders have different types and degrees of power. Shareholders' voting power is limited to the percentage of share owned by the shareholder. It uses resources to achieve a desired decision or outcome.

Which of the following statement is not true about the interactive social system

the boundary between business and society is clear and distinct