BUS 100 - Chapter 1

Which of the following is not an example of stakeholders' economic power?

A social group protests a government's decision to raise taxes.

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.

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

Developing their employees' professional skills.

A firm subscribing to the shareholder theory of the firm would mainly be concerned with providing value for its:

Investors.

A stakeholder analysis:

Involves understanding the nature of stakeholder interests.

All of the following are external stakeholders of the firm except:

Managers

Stakeholder groups can include:

Shareholders Business support groups. Environmental activists

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

Actions by governments rarely affect business.

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

Nongovernmental organizations

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

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