Question 1

Friedman supported socially responsible corporate decisions as long as they .&#10;A) are not&#10;B) benefit society at large&#10;C) further a company's self-interest&#10;D) do not break the law

Accepted Answer

Friedman believed that corporate decisions should align with the company's self-interest, primarily focusing on maximizing shareholder value.

Question 2

Milton Friedman argued that CSR_____________.&#10;A) is harmful to the community&#10;B) fails to serve the interests of company's stockholders&#10;C) is acceptable if carried out by the government&#10;D) would be a passing fad

Accepted Answer

Milton Friedman argued that the sole responsibility of a business is to maximize profits for its shareholders, and any action taken by the company that goes beyond this goal, such as CSR, would not serve the interest of the stockholders and would ultimately harm the company's financial performance.

Question 3

According to the &#34;classical view,&#34; companies____________.&#10;A) have a responsibility to their environment&#10;B) can promote CSR without sacrificing profitability&#10;C) are not essentially different from other types of organizations&#10;D) exist for reasons other than promoting social responsibility

Accepted Answer

According to the classical view, companies exist solely to maximize profits for their shareholders and do not have any inherent responsibility to promote social or environmental goals.

Question 4

A company's ethical responsibilities____________.&#10;A) bring it in line with social norms&#10;B) are a subset of its legal responsibilities&#10;C) always directly advance its profit making&#10;D) are the same as its economic responsibilities

Accepted Answer

Ethical responsibilities refer to a company's obligation to do what is right and just, even if it goes beyond legal requirements. It includes aligning its actions with social norms and values, like promoting sustainability and social justice. Whereas economic responsibilities are focused on maximizing profits and legal responsibilities are adherence to laws and regulations. Therefore, option A is the best choice.

Question 5

What was Friedman's argument against corporate social responsibility? What are its weaknesses?

Accepted Answer

The answer of What was Friedman's argument against corporate social...

Question 6

CSR as a worldwide movement has over the years been____________.&#10;A) mainly manifested among medium-sized companies&#10;B) mostly confined to the United States&#10;C) increasingly come under criticism&#10;D) gaining increased acceptance

Accepted Answer

The question asks about the trend of CSR as a worldwide movement over the years. The only option that reflects positive growth is D, which states that CSR is gaining increased acceptance. Option A does not reflect growth, option B is not true as CSR is a global movement, and option C is not accurate as criticism does not necessarily reflect the trend of the movement.

Question 7

Describe the different ways in which companies are motivated to be socially responsible.

Accepted Answer

The answer of Describe the different ways in which companies...

Question 8

Describe the current status of corporate social responsibility as an expectation for businesses.

Accepted Answer

The answer of Describe the current status of corporate social...

Question 9

The normative case for CSR is now usually based on the____________of CSR.&#10;A) obligation&#10;B) permissibility&#10;C) legality&#10;D) cost

Accepted Answer

The normative case for CSR is based on the obligation of companies to consider the interests of stakeholders other than just shareholders, including employees, customers, and the broader community. This view holds that companies have a moral responsibility to contribute to society and the well-being of others, beyond just maximizing profits. Therefore, the best choice is A (obligation).

Question 10

Companies that pursue CSR are most likely to gain a competitive advantage if its CSR efforts____________.&#10;A) target popular special-interest groups&#10;B) are integrated into a corporate strategy&#10;C) are pursued as frugally as possible&#10;D) involve as many employees as possible

Accepted Answer

CSR efforts that are integrated into a corporate strategy are more likely to align with the company's goals and values, and can contribute to the long-term success of the business. Simply targeting special-interest groups or involving as many employees as possible may not necessarily lead to a competitive advantage. Pursuing CSR as frugally as possible could also limit the potential impact of the efforts.

Question 11

Friedman argued that social spending by corporations is a form of taxation on .&#10;A) the public&#10;B) the employees&#10;C) the shareholders&#10;D) the board of directors

Accepted Answer

The answer of Friedman argued that social spending by corporations...

Question 12

CSR as exercised towards a company's employees may include____________.&#10;A) providing safe working facilities&#10;B) providing paid time off&#10;C) improving employees' quality of life&#10;D) abiding by minimum-wage laws

Accepted Answer

The answer of CSR as exercised towards a company's employees...

Question 13

Corporate citizenship is an area of CSR that always involves____________.&#10;A) specific ways a company treats its employees&#10;B) a company's awareness of its broader social context&#10;C) a company's products that it produces&#10;D) a company's involvement in the government

Accepted Answer

The answer of Corporate citizenship is an area of CSR...

Deck 12: Corporate Social Responsibility