MGT 302

Which of the following are tenets of the conscious capitalism movement: select all that apply

- a holistic approach that synthesizes the roots of capitalism with the depth of the world's great wisdom traditions - Provides for a caring culture - Serves the needs of all stakeholders - Incorporates higher purpose

Social enterprises are organized on a spectrum of outcomes and returns which include __________ and ___________.

Blank 1: social Blank 2: social returns

Which groups often require businesses to provide social accounting? Select all that apply Multiple select question.

Correct Answer Shareholders because they care about how the business is being run. Consumers because they care about society at large Environmentalists because they care about sustainability Employees because they care about purpose

The following are workforce benefits of socially focused businesses:

Correct Answer excited to stay with the company workers connect with company purpose more creativity more innovation

The theory that states that businesses should not incur social expenditures unless required by law or required for the efficient operations of a business is the

Friedman Doctrine

Our personal ethics tell us it is wrong to cheat on a test. Conversely, it is right to

accept responsibly for your actions.

Sharon is visiting her company's manufacturing subcontractor in Pakistan. She is disturbed when she notices children working on the machinery in a room with no air conditioning and little access to water, but she also knows these children are probably supporting their families. This is an example of a(n)

ethical dilemma

Social entrepreneurs engage in _____ solutions to solve social problems.

innovative and market-oriented

The presence of the internet

means businesses cannot hide their "bad" behaviors

The basic principles and values that govern interactions between individuals are known as

personal ethics.

Heidi told her husband that there was no possible way she could meet her monthly sales goal now that her manager had doubled it. She decided the only way to make the new goal was to add 5% to every sales order and hide this cost under "personal needs" when she submitted her report. What is causing Heidi to act in this unethical manner?

unrealistic performance goals

According to the text, which three actions can managers take to ensure that ethical issues are considered in business decision making?

1. Implement decision-making processes that consider ethical aspects of business decisions. 2. Build an organizational culture that values ethical behavior. 3. Favor hiring and promoting of people with a sense of personal ethics.

The third sector is comprised by firms often called

charity organization philanthropic non-profits

When Professor Raj Sisodia research firms of endearment, he found

18 outperformed the S & P 500 index

Nielsen's Global survey of corporate social responsibility found that

2/3 of consumers would pay more for a product if the business supported social causes

One of the tenets of the conscious capitalism movement is:

Enables greater citizen awareness and participation

What aspects of the internet have fueled the trend towards social focus

Explosion of available information Seeing the social impacts along the value chain

Loans in poor communities are not generally available.

False

Which act outlaws the payment of bribes to foreign government officials to gain businesses?

Foreign Corrupt Practices Act

Recognizing the workforce benefits to socially focused businesses is attracting serious attention from some of the world's most advanced corporations.

True

The primary importance of Stakeholder theory is that regardless of the intention of a company's purpose, they must consider the effects of their actions on stakeholders, as well as stakeholder's potential effects on them.

True

True or false: Businesspeople may behave unethically simply because they forget to ask themselves whether the decision or action they are making is ethical.

True

True or false: Conscious businesses will help evolve our world so that billions of people can flourish, leading lives infused with passion, purpose, love and creativity.

True

True or false: The decision-making process is one of the determinants of ethical behavior.

True

Venture philanthropy is a new model of giving where the donor becomes an investor in the goals of socially focused philanthropies and is interested in goal attainment and measurable outcomes.

True

What makes Televerde unique as a social business is that "they have figured out how to combine profit and purpose to create a business that cares for people while also being driven for market success."

True

True or false: According to the rights theories, human beings have fundamental rights and privileges that transcend national boundaries.

True Reason: The rights theories promote the idea that all humans have fundamental rights.

Social enterprises are a new kind of business which some have called

enlightened capitalism

Scandinavia scores high on the individualism and uncertainty avoidance measures of societal culture. According to Hofstede's dimensions of societal culture, Scandinavia is more likely to engage in Blank______ business behavior than countries which score high on masculinity and power distance measures.

ethical

Which of Hofstede's dimensions are likely to be found in nations where corruption is rampant?

high power distance

Which of the following has led to the social focus within international business? Select all that apply.

Correct Answer increased focus on sustainability practices required transparency due to increased access of the internet Interests of stakeholders that business is conducted in a way that benefits society

Which of the following are examples of corporate social responsibility?

Environmental policies Diverse hiring practices

True or false: Organizational culture refers to the system used to create job levels and hierarchies within a company.

FALSE Reason: Organizational culture refers to the values and norms that are shared among employees.

True or false: Pursuing strategies that are sustainable has little impact on helping an organization ensure that ethical issues are considered in business decisions.

False Reason: Pursuing strategies that are sustainable is one of the seven actions that a firm can take to make sure ethical issues are considered in business decisions.

Which ethical theory emphasizes that the best actions are those that benefit the most number of people and harm the least number of people?

Utilitarianism Reason: The utilitarianism theory recognizes that actions have multiple consequences.

Social businesses are supported by funding from a spectrum of sources including

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Social businesses are supported by funding from a spectrum of sources including

Multiple choice question. Commercial capital and loans Philanthropic capital and commercial capital All of the above Philanthropic capital and charitable donations Correct Answer All of the above

A sustainable corporation is

Multiple choice question. Creates profit for its shareholders while improving the lives of those with whom it interacts. Operates so its business interests and the interest of th environment and society intersect All of these responses Interested in the environment Correct Answer All of these responses

Certain theories accept that there are rights, both positive and negative, that all humans have simply because they are human. These are known as ________ theories.

Rights

What is one thing a company must have in order to build an organizational culture that emphasizes ethical behavior?

The business must explicitly articulate values that emphasize ethical behavior.

What was taking place in South Africa when the apartheid system was dominant?

There was mandated segregation between whites and blacks/nonwhites.

What is an accurate description of developed nations in terms of the environment?

They have more substantial environmental regulations.

Integrated reporting is primarily interested in non-financial information about social and environmental metrics.

True

According to Milton Friedman, what is the social responsibility of a business?

to increase profits

Jennifer doesn't understand why the management team decided to continue supporting the supplier in India when it was obvious that a better product at a better price was available from a supplier in Indonesia. According to the text, what is the best starting point to understand this decision?

understand the process the management team uses to make decisions

Integrated reporting also known as social accounting

All of the above Uses quantitative and qualitative measures integrates both financial and non-financial information about social and environmental metrics Seeks to focus on long term perspectives and communicates a broader picture of a company's value creation. Correct Answer All of the above

Which of the following statements about conscious capitalism are true:

Is a new way of thinking about capitalism and business Business is heroic because it lifts people out of poverty Business is good because it creates value Business is noble because it can elevate our existence

Giving people that which they are due is an example of a(n) __ distribution.

Just

_______________ seeks new and effective ways to solve problems.

Blank 1: innovation

Many companies develop a formal statement of primary values and ethical standards for employees and managers to follow. This is called a

code of ethics.