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Bus 202 Final Detailed Questions And Expert
Answers
Business can do just about anything it wants because we do not live on a socially consious environment (True/False) - ANS False Pluralism is a condition in which there is concentration of power among society's groups and organizations (True/False) - ANS False All stakeholders are the owners of shares in a corporation (True/False) - ANS False The social contract is the set of rights and duties imposed on citizens by their government (True/False) - ANS False The Iron Law of Responsibility states that people who use power wisely will be rewarded with more power (True/False) - ANS False A child's assumption that he or she will have a higher standard of living than the previous generation is called the revolution of rising expectations (True/False) - ANS True Research has indicated that improvements in corporate social performance are associated with improved financial results (True/False) - ANS True
Huge businesses can disproportionately influence politics, shape tastes, and dominate public discourse (True/False) - ANS True Being socially responsible means that a company must abandon its other missions (True/False) - ANS False Some authors now argue that stakeholders inclusion is the key to corporate success (True/False) - ANS False One of the reasons that the stakeholder model is becoming more popular is because the stakeholder environment is finally calming down after several decades of turbulences (True/False) - ANS False Business, by virtue of its place in society, has an inherent right to exist (True/False)
- ANS False One of the most appealing arguments in favor of corporate social responsibility for business supporters is that voluntary social acts may head off increased government regulation (True/False) - ANS True Penalties under the Sarbanes-Oxley Act can include fines and prison terms (True/False) - ANS True
Once stakeholders have been identified, the firm can safely assume that they will remain the same for several years (True/False) - ANS False The Global Reporting Initiative (GRI) is attempting to overcome one of the major obstacles to advance of effective social auditing by providing standardized measures for social reporting (True/False) - ANS True To get a corporation to respond to its demands a stakeholder must hold all three attributes of power, legitimacy, and urgency(True/False) - ANS False Global corporate citizenship activities help companies create value, reputation and competitive advantage (True/False) - ANS True To be most effective, a social audit should be isolated from other aspects of the strategic management process (True/False) - ANS False A public issue exists when there is agreement between the stakeholders' expectations of what a business firm should do and the actual performance of that business firm (True/False) - ANS False There is a growing consensus that ethics should not be a central component of strategic management (True/False) - ANS False The demographics, lifestyles, and social values of a society determine the firm's - ANS social environment
Major institutions in a pluralistic, special-interest society will inevitably receive - ANS scrutiny and criticism Which of the following is not a direct concern underlying the SA8000 certification standard - ANS Socially Responsible Investing The Peanut Corporation of America - ANS is an example of CSR Sustainability Corporate social responsibility emphasizes - ANS obligation and accountability Corporate social performance emphasizes - ANS outcomes and results The classical view of economics holds that a society can best determine its needs and wants through - ANS the marketplace The concept of business responsibility that is based on concern for the various groups that are affected by a business is known as the - ANS stakehodler model The ___________ portrays the concurrent fulfillment of the firm's economic, legal, ethical and philanthropic responsibilities - ANS Pyramid of Corporate Social Responsibility
The view of stakeholders that recognizes the firm's responsibilities to all stakeholders, but sees them as separate types of groups, interdependent with each other, whether they have an ownership stake or not, is called the - ANS stakeholder synthesis approach Screening, shareholder advocacy, and community investing are core strategies of - ANS Sustainable and responsible investing Congruence between the organization's activities and society's expectations is called - ANS legitimacy The micro level of legitimacy refers to achieving and maintaining legitimacy by conforming to societal expectations for - ANS individial businesses When the interests of management and owners are not aligned, there will likely be an - ANS agency problem A contract in which a corporation agrees to make payments to key officers in the event of a change in the control of the corporation is called - ANS a golden parachute The practice of obtaining critical information from within a company and then using that information for one's own financial gain is - ANS insider trading
The primary purpose of the Sarbanes-Oxley Act is to - ANS provide better protection for investors in public companies by improving the financial reporting of those companies One of the main ways in which shareholder activists communicate their concerns to management is through - ANS shareholder resolutions The concept of enterprise-level strategy is the idea that best links - ANS ethics to strategy The Balanced Scorecard is best described as an example of - ANS A metric based management system Which of the steps in the strategic management process informs all the rest? - ANS Environmental analysis A social audit can be thought as - ANS planning and control system One of the factors that has helped make issues management and crisis management more important to business is instant global communication (True/False) - ANS True The stages of the issues management process are easily separable; this each can be assigned to a specialist with the public affairs office (True/False) - ANS False
The ethics scandal that has come to define modern business ethics is the Enron debacle (True/False) - ANS True Media reporting of ethical problems has diminished in recent years... (True/False) - ANS False A 2009 Marist College Institute for Public Opinion survey indicated that more than half of Americans believe that the moral compass of Corporate America is pointing in the wrong direction (True/False) - ANS True Ethical behavior is generally considered to be on a higher plane than legal behavior (True/False) - ANS True Immoral management stresses profitability over stakeholder concerns (True/False)
- ANS False Virtually all companies that exhibit moral management have had that outlook since they were founded (True/False) - ANS False
