Question 1

​Global sustainability is the number one goal of a firm.

Accepted Answer

Global sustainability is an important goal, but it is not necessarily the number one goal of every firm. Many firms prioritize profit, growth, customer satisfaction, or innovation as their primary objectives. Sustainability goals vary in priority among different companies based on their values, industry, and strategic objectives.

Question 2

​"Stakeholders" of the firm are the same thing as shareholders.

Accepted Answer

Stakeholders of a firm include shareholders, but also encompass other groups such as employees, customers, suppliers, and the community. Shareholders are specifically invested in the company and own a portion of its stock, while stakeholders can be affected by the company's actions and decisions without necessarily owning a stake in the company.

Question 3

​The driving forces of the CSR school are the widening of the gap between the haves and have-nots and the astonishing speed of technological development.

Accepted Answer

False

Question 4

​Socially and environmentally conscious suppliers are not likely to have greater bargaining power than those that are not,regardless of how differentiated their products are.

Accepted Answer

Socially and environmentally conscious suppliers are becoming increasingly valued by consumers and society as a whole, which gives them more leverage in negotiating with buyers. Additionally, if their products are differentiated, they may have even more bargaining power. This means that socially and environmentally conscious suppliers are likely to have greater bargaining power than those that are not.

Question 5

Firms pursuing a reactive CSR strategy actively participate in policy discussions,build alliances with stakeholder groups,and voluntarily go beyond what the regulations require.

Accepted Answer

A reactive CSR strategy typically involves doing the minimum required by law and responding to external pressures rather than proactively engaging in CSR activities, such as participating in policy discussions or voluntarily exceeding regulatory requirements.

Question 6

The more concentrated an industry is,the more likely that competitors will recognize their mutual interdependence based on old ways of doing business that are not up to the higher CSR standards.

Accepted Answer

In a more concentrated industry, competitors are more likely to be aware of each other's actions and their impact on the industry as a whole. This can lead to greater recognition of the need to adopt higher CSR standards in order to maintain the reputation and sustainability of the industry.

Question 7

A key goal for CSR is global sustainability,which is defined as the ability "to meet the needs of the present without compromising the ability of future generations to meet their needs."

Accepted Answer

This statement accurately defines the concept of global sustainability, which is a key goal for CSR (Corporate Social Responsibility).

Question 8

​Looking at the "big picture" enables managers to understand the drivers underpinning global sustainability as simple and straightforward.

Accepted Answer

Understanding the drivers underpinning global sustainability involves complex interactions between economic, social, and environmental factors, making it a multifaceted issue rather than simple and straightforward.

Question 9

A stakeholder is "any group or individual who can affect or is affected by the achievement of the organization's objectives."

Accepted Answer

This is the commonly accepted definition of a stakeholder.

Question 10

​CSR advocates argue that a free market system that takes the pursuit of self-interest and profit as its guiding light may in practice fail to constrain itself,thus often breeding greed,excesses,and abuses.

Accepted Answer

CSR advocates argue that the pursuit of self-interest and profit may lead to greed, excesses, and abuses, which a free market system may fail to constrain.

Question 11

​By employing the standards of CSR,the barriers to entry for the industry actually go down.

Accepted Answer

Implementing Corporate Social Responsibility (CSR) standards often increases the cost and complexity of entering an industry, as new entrants must invest in sustainable practices, ethical supply chains, and community engagement, raising the barriers to entry.

Question 12

Numerous protests around the world are indicative of resentment against globalization and a perceived lack of CSR in firms,particularly those that relocate offices (and jobs)to foreign countries.

Accepted Answer

The statement is true. Globalization and the relocation of businesses to foreign countries have led to protests and backlash against perceived lack of corporate social responsibility (CSR).

Question 13

Because each firm is different (a basic assumption of the resource-based view),not every firm's economic performance is likely to benefit from CSR.

Accepted Answer

The resource-based view suggests that each firm has unique resources and capabilities that cannot be easily replicated by competitors, meaning that not every firm's economic performance is likely to benefit from CSR.

Question 14

According to the text,one driver of CSR in the twenty-first century is the declining levels of population in some countries.

Accepted Answer

The text does not mention declining levels of population as a driver of CSR in the twenty-first century.

Question 15

Nearly all CSR advocates argue for a revival of socialism in the world.

Accepted Answer

While some CSR advocates might argue for socialist policies to support social responsibility, such as increased government regulation or a more equal distribution of wealth, it is not accurate to say that nearly all CSR advocates argue for a full-scale revival of socialism. Many CSR advocates come from a variety of political and economic backgrounds and may support a range of approaches to achieve social responsibility.

Question 16

​Governments and communities whose laws and regulations must be obeyed are considered primary stakeholders.

Accepted Answer

Governments and communities have the power to create and enforce laws and regulations, which makes them primary stakeholders in any organization or business operating within their jurisdiction.

Question 17

CSR standards are more difficult for firms in a concentrated and competitive industry.​

Accepted Answer

In a concentrated and competitive industry, firms may face more pressure to prioritize profitability over CSR initiatives in order to remain competitive. Additionally, in a concentrated industry, there may be fewer firms overall and thus less pressure from competition to prioritize CSR. This can make it more difficult for firms in these industries to meet CSR standards.

Question 18

Companies have had their CSR policies certified by NGOs that might otherwise be hostile.

Accepted Answer

It is possible for companies to have their CSR policies certified by NGOs that may have had previous conflicts or disagreements with the company. This helps to ensure transparency and accountability in the company's CSR initiatives.

Question 19

​With a stakeholder view,firms look at the triple bottom line of economic,social,and environmental performance.

Accepted Answer

The triple bottom line approach considers economic, social, and environmental performance as three key components of business success when looking at the interests of all stakeholders involved.

Question 20

Compared with the relatively expanded power of national governments in the wake of globalization,NGOs and other civil society stakeholders have lost the ability to affect firms and their management or to impact legislation.

Accepted Answer

NGOs and other civil society stakeholders have gained increasing power and influence in holding firms accountable for their actions and advocating for legislative change, often through public pressure and mobilization of public opinion. While national governments have indeed gained expanded power in some ways, they also face countervailing pressures from civil society groups and international organizations.

Quiz 12: Strategizing With Corporate Social Responsibility

​Global sustainability is the number one goal of a firm.

​"Stakeholders" of the firm are the same thing as shareholders.

​The driving forces of the CSR school are the widening of the gap between the haves and have-nots and the astonishing speed of technological development.

​Socially and environmentally conscious suppliers are not likely to have greater bargaining power than those that are not,regardless of how differentiated their products are.

Firms pursuing a reactive CSR strategy actively participate in policy discussions,build alliances with stakeholder groups,and voluntarily go beyond what the regulations require.

The more concentrated an industry is,the more likely that competitors will recognize their mutual interdependence based on old ways of doing business that are not up to the higher CSR standards.

A key goal for CSR is global sustainability,which is defined as the ability "to meet the needs of the present without compromising the ability of future generations to meet their needs."

​Looking at the "big picture" enables managers to understand the drivers underpinning global sustainability as simple and straightforward.

A stakeholder is "any group or individual who can affect or is affected by the achievement of the organization's objectives."

​CSR advocates argue that a free market system that takes the pursuit of self-interest and profit as its guiding light may in practice fail to constrain itself,thus often breeding greed,excesses,and abuses.

​By employing the standards of CSR,the barriers to entry for the industry actually go down.

Numerous protests around the world are indicative of resentment against globalization and a perceived lack of CSR in firms,particularly those that relocate offices (and jobs)to foreign countries.

Because each firm is different (a basic assumption of the resource-based view),not every firm's economic performance is likely to benefit from CSR.

According to the text,one driver of CSR in the twenty-first century is the declining levels of population in some countries.

Nearly all CSR advocates argue for a revival of socialism in the world.

​Governments and communities whose laws and regulations must be obeyed are considered primary stakeholders.

CSR standards are more difficult for firms in a concentrated and competitive industry.​

Companies have had their CSR policies certified by NGOs that might otherwise be hostile.

​With a stakeholder view,firms look at the triple bottom line of economic,social,and environmental performance.

Compared with the relatively expanded power of national governments in the wake of globalization,NGOs and other civil society stakeholders have lost the ability to affect firms and their management or to impact legislation.

Global sustainability is the number one goal of a firm.

"Stakeholders" of the firm are the same thing as shareholders.

The driving forces of the CSR school are the widening of the gap between the haves and have-nots and the astonishing speed of technological development.

Socially and environmentally conscious suppliers are not likely to have greater bargaining power than those that are not,regardless of how differentiated their products are.

Looking at the "big picture" enables managers to understand the drivers underpinning global sustainability as simple and straightforward.

CSR advocates argue that a free market system that takes the pursuit of self-interest and profit as its guiding light may in practice fail to constrain itself,thus often breeding greed,excesses,and abuses.

By employing the standards of CSR,the barriers to entry for the industry actually go down.

Governments and communities whose laws and regulations must be obeyed are considered primary stakeholders.

CSR standards are more difficult for firms in a concentrated and competitive industry.

With a stakeholder view,firms look at the triple bottom line of economic,social,and environmental performance.