Question 1

What term best defines the following type of stakeholder: "Continuing source of business; professional relationship in contracting for, purchasing, and receiving goods or services."

Accepted Answer

Suppliers are the stakeholders described as they are involved in a professional relationship for contracting for, purchasing, and receiving goods or services, providing a continuing source of business.

Question 2

What term best defines the following type of stakeholder? "Share in fringe benefits, hold the freedom to join unions if applicable, and should have adequate work conditions."

Accepted Answer

Employees are the stakeholders who share in fringe benefits, have the freedom to join unions, and should have adequate work conditions. These aspects are directly related to employment conditions and rights.

Question 3

What term best defines the following type of stakeholder? "They hold participation in the distribution of profits, additional stock offerings, assets of liquidation, and may also elect the board of directors."

Accepted Answer

Shareholders are the correct term for stakeholders who participate in the distribution of profits, additional stock offerings, assets upon liquidation, and have the right to elect the board of directors. These are all rights typically associated with owning shares in a company.

Question 4

What is it called when an organization needs to identify and respond to changing social and ethical conditions?

Accepted Answer

Issues management is the process through which an organization identifies and responds to evolving trends, concerns, or issues in the social and ethical environment that could impact it in the future. This involves anticipating potential problems or changes in public opinion and adjusting strategies accordingly to mitigate risks or capitalize on opportunities.

Question 5

This term best defines what society expects from business, governments, and nonprofits?

Accepted Answer

The answer of This term best defines what society expects...

Question 6

CSR stands for ______.

Accepted Answer

CSR stands for Corporate Social Responsibility, which refers to practices and policies undertaken by corporations intended to have a positive influence on the world.

Question 7

When an organization takes time and resources to survey the environment to identify potential issues that might impact the organization, this is called ______.

Accepted Answer

Scanning the environment involves looking for potential issues, trends, and other factors that could impact an organization, helping it to prepare and adapt to changes.

Question 8

What term best defines the following type of stakeholder? "Continual source of business; professional relationship in contracting for, purchasing, and receiving goods or services."

Accepted Answer

Suppliers are the correct term for stakeholders who have a professional relationship in contracting for, purchasing, and receiving goods or services, as they provide a continual source of business through the supply of products or services.

Question 9

The Alchemy Chemical Company issues management team is certain that the population will continue to age but doesn't think that this trend will impact the firm's sales. For Alchemy population aging has ______.

Accepted Answer

The team is certain about the aging population (high probability) but doesn't believe it will impact sales significantly (low magnitude).

Question 10

According to this theory, a manager's responsibility is to promote the interests of stockholders' ______.

Accepted Answer

Agency theory focuses on the relationship between principals (stockholders) and agents (managers), emphasizing that managers should act in the best interests of stockholders.

Question 11

Which of the following is a stakeholder for a local business retail store?

Accepted Answer

The answer of Which of the following is a stakeholder...

Question 12

What is characteristic of organizational stewards?

Accepted Answer

Organizational stewards are typically intrinsically motivated, meaning they find motivation from within themselves and are driven by personal satisfaction and the fulfillment of contributing to the organization's success, rather than by external rewards or transactions.

Question 13

If a company has awakened to the need for social responsibility and has taken mild steps to adopt new policies, they could be categorized at which state of development?

Accepted Answer

At stage 2, "engaged," a company has recognized the importance of social responsibility and has begun to implement policies and practices reflecting this awareness, albeit in the early or mild stages. This stage is characterized by initial actions and engagement with social responsibility concepts.

Question 14

Which of the following is not a part of Carroll's CSR pyramid?

Accepted Answer

Carroll's CSR pyramid includes economic, legal, ethical, and philanthropic responsibilities. Transitional responsibilities are not part of Carroll's CSR pyramid.

Question 15

What term best defines the following type of stakeholder: "Will expect legal proportions of interest payments due and expect return of principal from the investment."

Accepted Answer

Creditors are the type of stakeholders who lend money or extend credit to a business and therefore expect interest payments and the return of principal as per the terms of their lending agreements.

Question 16

Which is a TRUE statement about corporate advocacy?

Accepted Answer

Corporate advocacy has evolved, with employees and society now increasingly expecting companies to take stances on social issues. This reflects a shift from a time when businesses might have remained neutral on political and social matters.

Question 17

Which of the elements is NOT a component of practicing organizational citizenship?

Accepted Answer

The answer of Which of the elements is NOT a...

Question 18

When an organization chooses to make policy changes to promote better waste management and recycle efforts, this is an example of ______.

Accepted Answer

This is an example of sustainability because the organization is making changes to improve waste management and recycling efforts, which are actions aimed at maintaining resources and preventing depletion, aligning with the principles of sustainability.

Question 19

When are consumer boycotts most effective?

Accepted Answer

Boycotts are most effective when they focus on a single company over a single issue because it allows for a clear and direct message, making it easier for consumers to understand and participate, and for the company to respond to the specific concerns.

Question 20

The local superstore just decided to promote a local ballot initiative for expanding the urban growth boundary for the community. This is an example of ______.

Accepted Answer

Corporate advocacy refers to actions taken by a company to publicly support a particular cause, policy, or initiative. In this case, the superstore is advocating for the expansion of the urban growth boundary, making it an example of corporate advocacy.

Quiz 11: Promoting Organizational Citizenship