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BUS 202 Test #1 Multiple Choice

Which of the following statements is NOT correct about the business-society interdepence
D. Actions by government rarely affect businesses
Which of the following examples best illustrate the boundary exchange a company would encounter according to the general systems theory
D. All of the above, An industrial company installs new tech to meet regulation, a purchasing development company employee negotiates a price, and a software development company develops an app for a client
Which of the following is the result of the inseparable relationship between business and society
D. Both A and B, All business decisions have a social impact, the vitality of business depends on society’s actions and attitudes
What is not true about the interactive social system
B. The boundary between business and society is clear and distinct
A firm subscribing to the ownership theory of the firm would mainly be concerned with providing value to
A. Stakeholders
Corporations that run their operations according to stakeholder theory of the firm create value by
D. All of the above. Innovating new products, increasing stock prices, and developing their employees’ professional skills
Which argument says that stakeholder management realistically depicts how companies really work
A. Descriptive Argument
The instrumental argument says stakeholder management is
B. More effective as a corporate strategy
The fiduciary duty of managers benefits a frim’s
D. All of the above, Shareholders, Customers and Employees
The main reason a number of European countries require public companies to include employee members on their board of directors is so that
C. Employees interests will be explicitly represented
Stakeholder groups can include
D. All of the above, shareholders, business support groups, and environmental activist
Which one of the following is considered to be a NON-MARKET stakeholder of business
B. Nongovernmental organizations
Which of the following is NOT considered to be a non-market stakeholder
B. Creditors
All of the following are external stakeholders except
A. Managers
The phenomenon of a person holding multiple stakeholder duties is referred to as
A. Role Sets
A stakeholder analysis
C. Involves understanding the nature of stakeholder interests (ONLY ALL OF THE ABOVE OPTION THAT ISN’T RIGHT)
The 5 types of stakeholders’ power are
A. Voting, Legal, Economic, Informational and Political
Which of the following statements are correct about stakeholder powers
D. All of the above, different stakeholders have different types of degrees of power, stakeholders voting power is limited to the % of company owned, it uses resources to achieve a desired decision or outcome
Customers can exercise economic power by
B. Boycotting products if they believe he goods are too expensive
Which is an not an example of economic power
B. A social group protests a government’s decision to raise taxes
When a community group sues a company for health effects caused by the unsafe disposal of toxic chemicals, it is an exercise of what power
A. Legal Power
What stakeholder groups can exercise legal power
D. All of the above, Employees, Customers, and Shareholders
What kind of power might a a local community use to influence a companies decision
D. All of the above, Publicizing an issue, Lobbying gov’t policy makers for regulations, challenging whether an whether a business activity should continue to operate
With the explosive growth of technologies that facilitate sharing of info, this kind of power is increasingly important
C. Informational Power
Stakeholders have been able to from international coalitions through the use of
C. Communication technology
When something stands out from a background, is seen as important, or draws attention it is
B. Salient
Stakeholders stand out to managers when they exhibit
B. Power, Legitimacy, an Urgency
A stakeholder map is a useful tool because
D. Both A and B, It enables to managers to see quickly how stakeholders feel about an issue, it allows managers t evaluate what outcomes are likely regarding an issue
Departments, or offices, that reaches across the dividing line that separates the company from groups and people in society
C. Boundary spanning departments
Interactions between business and society occur
A. Within a finite natural ecosystem
Public issues are often referred to as
C. Both A/B, Social Issues/Sociopolitical Issues
The emergence of a public issue indicates that
A. A gap has been developed between what a stakeholder expects and what the business does
Failure to understand the beliefs and expectations stakeholders
C. Causes the performance-expectation gap to grow larger
because of the risks and opportunities public issues present, organizations need
C. A systematic way of identifying, monitoring and selecting public issues
Customer environmental intelligence includes
A. Demographic factors
According to management scholar Karl Albrecht, scanning to acquire environmental intelligence should focus on
A. 8 strategic radar screens
The explosive use of social media is an example of
A. Customer Environment
An analysis of the stability or instability of a government is an example of scanning the
D. Political environment
Legal environment intelligence includes
C. Considerations of patents copyrights or trademarks
The role of special interest groups is an important element in acquiring intelligence from the
D. Social Environment
The relevance and importance of stakeholders and their issues is know as
C. Stakeholder Materiality
The Issue management process is a
C. systematic process companies use when responding to public issues that are of the greatest importance to the business
The Issue management process has how many stages
C. 5
The components of a typical issues management process include
D. All of the above, Identify issue, generate options, take action
Once an issue has been identified, its implications must be
B. Analyzed
An issue’s public profile indicates to managers
A. How significant an issue is for organizations, but it doesnt ell them what to do
Once an Organization has implemented the issue management process program, it must
B. Study the results and makes necessary adjustments
When working well, the issue management process
D. Continuously cycles back to the beginning and repeats itself
Contemporary Issue management
D. is an interactive, forward thinking process
A leadership role in addressing emerging management issues in often taken by
D. All of the above, The public affairs dept, the government relations dept, and the department of sustainability or environmental, health and safety
A corporation’s issue management activities are usually linked to
C. Both board of directors ad top level management
Over time, the nature of businesses relationship with it’s stakeholders often
B. Evolve through a series of stages
Firms that believe they can make decisions unilaterally are
D. Inactive companies
Firms that generally act when forced to do so are
C. Reactive companies
Proactive companies are
A. Much less likely to be blindsided by crises and negative surprises
Stakeholder engagement is
C. The process of ongoing relationship building between a business and its stakeholders
Stakeholder engagement at it’s core is a
B. Relationship
The drivers of stakeholder engagement are
C. Goals, motivation, and operation capacity
A business and it’s stakeholders coming face to face for a conversation about common issues is called
D. Stakeholder dialouge
Corporations working collaboratively with other businesses and concerned persons and organizations is an example of
A. Stakeholder networks
Corporate power refers to
C. The capability of corporations to influence government, the economy, and society, based on their organizational resources
The iron law of responsibility says
A. In the long run, those who do not use power responsibly will lose it
Which of the following statements are true about corporate social responsibility
D. Both A and C, Businesses should monitor and prevent social problems in advance, corporations should be accountable for any actions that affect people
Which of the following companies is being the most socially responsible
A. A company trying its best to operate in a way which will help local students get educated and get jobs
Modern corporations should be socially responsible because they
B. Create jobs, influencing the lives of employees
Good corporate citizens
D. All of the above, Strive to make business dealings in an ethical manner, work to protect environment, and make a concerted effort to balance the needs of stakeholders
When companies put its commitment to social and environmental responsibility into practice worldwide
C. Global Corporate Citizenship
Business leaders like Henry Ford developed these programs to support employee health
D. Paternalistic Programs
Philanthropic funding and public relations are two examples of CSR
B. Policy Instruments of the corporate social stewardship phase
Stakeholder partnerships, high tech communication networks and sustainability audits are examples of
D. Corporate/ Global Citizenships
Which of the following is not a driver of the corporate social responsiveness phase of of corporate social responsibility
A. Religious/ Ethnic Beliefs
Which of the following examples does not show a company guided by enlightened self-interest
C. a company breaking past records by maximizing quarterly profits
Reasons for adopting an enlightened self-interest approach are
D. All of the above
When undertaking social initiatives, a company
C. May sacrifice short-term profits
Which of the following is an argument in favor of corporate social responsibility
B. Discourages government regulation
According to Barlow v A.P. Smith Manufacturing
D. Socially responsible actions are an investment in the future, thus an allowable expense
Positive reputation can be valued as an intangible corporate
A. Asset
The costs of corporate social responsibility may ultimately be passed on the
B. Consumer through high prices
Which of the following is an argument against CSR
A. Requires skills businesses may lack
Proponents against corporate social responsibility feel that public officials, not business people, should solve societal problems becuase
C. Both A/B
An emerging business model that attempts to strategically balance all of the interest of all stakeholders to solve social and environmental problems is called
C. B corporation
Companies demonstrate global corporate citizenship by
D. Both B/C not A. Finding business opportunities that serve society and integrating concern for both financial and social problems
BSR helps its 300 member companies:
D. Develop sustainable business stratagies
Some companies have created a department of corporate citizenship
C. Centralize under common leadership wide-ranging corporate functions
This inter-American organization was created to unite organizations focusing on corporate social responsibility from Canada to Chile
C. Forum Empresa
The issue of reactive management policies occurs in which stage of global corporate citizenship
B. Engaged
Managers responding to the need of local education systems as a normal or routine aspect of its operations is an example of an organization in
C. Transforming Stage
Global Social Audit standards concentrate on
D. All of the above
Which of these is not an objective of the Global Reporting Initiative
C. Providing tax incentives for global corporate citizens
The most significant motivator of Corporate social reporting is
B. Ethical Concerns

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