Chapter 4 Assignment
________ is a philanthropic approach to corporate social responsibility in which organizations underwrite specific initiatives to give back to the company's local community or to designated national or international programs.
Altruistic CSR
The ________ to corporate management states that the only obligation of a corporation is to maximize profits for its shareholders.
Instrumental Approach
The ________ refers to the perspective that a corporation has an obligation to society over and above the expectations of its shareholders.
Social Contract Approach
________ encompasses philanthropic activities targeted toward programs that generate the most positive publicity or goodwill for the organization.
Strategic CSR
Corporate conscience implies that an organization operates with an awareness of its social and legal obligations to society.
TRUE
Critics have argued that, from an ethical perspective, altruistic corporate social responsibility (CSR) is immoral since it represents a violation of shareholder rights if they are not given the opportunity to vote on the initiatives launched in the name of corporate social responsibility.
TRUE
In the context of the instrumental approach to corporate social responsibility (CSR), Milton Friedman argues that it would be unethical for a corporation to do anything other than deliver the profits for which its investors have entrusted it with their funds in the purchase of shares in the corporation.
TRUE
Jim Roberts, a marketing professor, views corporate social responsibility (CSR) as doing well by doing good.
TRUE
The practices of making a company's operations "carbon neutral" was initially developed as a solution for those industries, such as airlines or automobile companies, that face significant challenges in reducing their emissions.
TRUE
In which of the following ways do Warby Parker and VisionSpring demonstrate corporate social responsibility?
by establishing an ethical standard
The business partnership forged by Warby Parker and VisionSpring demonstrates success through ethical business practices and a commitment to corporate social responsibility. Which of the following is NOT one of the partnership's core business philosophies?
focusing on investors
Built on an ethical foundation of providing stylish eyewear at affordable prices and creating an organizational environment that supports ethical employee behavior, Warby Parker is demonstrating ________ behavior.
integrity-based
Both Warby Parker and VisionSpring demonstrate a "triple bottom line" philosophy that pertains to company profits, human capital, and ________.
the environment in which the company operates
________ refers to the actions of an organization that target toward achieving a social benefit over and above maximizing profits for its shareholders and meeting all its legal obligations.
Corporate social responsibility
________ is the purest or most legitimate type of corporate social responsibility (CSR) in which organizations pursue 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.
Ethical corporate social responsibility
All CSR initiatives invariably generate immediate financial gains to the organization after implementation.
FALSE
Altruistic corporate social responsibility (CSR) represents a type of CSR in which organizations pursue a clearly defined sense of social conscience in managing their financial responsibilities to shareholders, their legal responsibilities, and their ethical responsibilities to do the right thing for all their stakeholders.
FALSE
Anderson Enterprises (AE) issues free meal coupons to its employees and also provides them with travel allowances. This illustrates that AE pursues the triple bottom-line approach.
FALSE
Corporate ethics refers to 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.
FALSE
Doing what is in the best long-term interest of a customer invariably fails to achieve what is best for a company.
FALSE
Emissions credits are fixed for every market, and they cannot be bought or sold.
FALSE
Extabet Enterprises donates a certain percentage of their profit to local charities, but it does not comply with all the legal industry standards of operating in a safe working environment. This depicts corporate social responsibility (CSR).
FALSE
Globalization represents a new stage of capitalist development, this time with public institutions in place to protect society by balancing private corporate interests against broader public interests.
FALSE
Henry Ford II recognized the fact that corporations operate in an isolated environment.
FALSE
Instrumental approach to corporate management is the perspective that a corporation has an obligation to society over and above the expectations of its shareholders.
FALSE
Milton Friedman asserted that there are five major trends behind the corporate social responsibility (CSR) phenomenon.
FALSE
The Chicago Climate Futures Exchange (CCFE) promotes the standardization of carbon trading on a global scale.
FALSE
The Kyoto Protocol requires developed nations to reduce their greenhouse gas emissions only by modifying their domestic industries.
FALSE
The country of Cadmia was hit by a hurricane. Singerz Corporation responded to the devastation caused by the hurricane by donating fuel for transportation supplying relief aid. In addition, it announced a direct cash donation of $1 million to support the relief and rebuilding efforts. This is an example of strategic corporate social responsibility (CSR).
FALSE
The employees of Brennerz Inc. are encouraged to cycle to work every day to reduce environmental pollution. The given scenario exemplifies corporate ethics.
FALSE
The policy of "doing well by doing good" refers to the belief that doing good for the company is just good business.
FALSE
The social contract approach is a very simplistic model that argues that the corporation only has an obligation to itself.
FALSE
The triple bottom-line approach (3BL) to corporate performance measurement supports the idea of organizations pursuing social and environmental goals rather than financial goals.
FALSE
U.S. citizens consider the public sector as the most appropriate venue for addressing a growing list of social problems.
FALSE
