Question 1

The Virtue Matrix divides CSR into how many components?

Accepted Answer

The tool divides corporate social responsibility into two components: instrumental and intrinsic.

Question 2

Which are the two components of CSR as per the virtue matrix?

Accepted Answer

According to the virtue matrix, CSR has two components: instrumental and intrinsic. The instrumental component refers to the tangible benefits and outcomes that CSR activities can bring to a company, such as increased profits, enhanced brand reputation, and reduced risks. The intrinsic component, on the other hand, relates to the moral and ethical dimensions of CSR, such as the company's responsibilities towards its stakeholders, the environment, and society at large. Therefore, only option D, which includes both instrumental and intrinsic components, is the correct answer. The tool divides corporate social responsibility into two components: instrumental and intrinsic.

Question 3

The virtue matrix is divided into four quadrants. The two lower quadrants comprise_______

Accepted Answer

The answer of The virtue matrix is divided into four...

Question 4

Which of the following is not one of Porter and Kramer's (2006) suggestions for the different classifications for social issues that any firm should consider?

Accepted Answer

Porter and Kramer (2006) suggested that firms should consider four different classifications for social issues: general social issues, value chain social impacts, social dimensions of competitive context, and general environmental issues. Option C, "General environmental issues," is not one of their suggestions. General environmental issues is not part of Porter and Kramer's (2006) suggestions.

Question 5

Husted and Allen (2007) added to what Porter and Kramer (2006) presented by identifying the following five strategic dimensions for use in comparisons across traditional CSR, Strategic CSR, and Traditional Strategy?

Accepted Answer

Husted and Allen (2007) identified five strategic dimensions for use in comparisons across traditional CSR, Strategic CSR, and Traditional Strategy: Appropriability, visibility, proactivity, centrality, voluntarism. They highlight need for appropriability, visibility, proactivity, centrality, voluntarism.

Question 6

As per Martin (2002) _____ can help support corporate actions.

Accepted Answer

The answer of As per Martin (2002) _____ can help...

Question 7

According to Martin (2002) what is the biggest barrier to corporate virtue?

Accepted Answer

According to Martin (2002), the biggest barrier to corporate virtue is the lack of vision inherent in company management. The biggest barrier to corporate virtue is the lack of vision inherent in company management (Martin, 2002).

Question 8

In the virtue matrix, the actions labeled compliance are _______

Accepted Answer

Actions labeled compliance are mandated by law, meaning they are required to be followed for legal or regulatory reasons.

Question 9

In the virtue matrix, the activities that may actually add to shareholder value if supported by customers, employees, and government agencies are called_______

Accepted Answer

The activities that may add to shareholder value if supported by customers, employees, and government agencies are called strategic frontier. They are strategic because they are likely to improve the competitive position of the firm and generate greater economic returns for shareholders. These activities are frontier because they involve exploring new opportunities that go beyond the current boundaries of the firm's operations.

Question 10

Epstein and Birchard (1999) examined a number of companies and found a set of steps that were important CSR is integrated in all activities of the firm. Which of the following activities are one of those steps?

Accepted Answer

The study found that all of the given options were important steps in integrating CSR into the activities of a firm. Engaging stakeholders through dialogue allows for their input and concerns to be taken into account, defining and codifying values, codes, and policies ensures that CSR is a consistent part of the company's operations, and assigning executive responsibility ensures that there is accountability for CSR initiatives. Therefore, all of the options given are correct steps to integrate CSR into a firm's activities. All of the options are shared by Epstein and Birchard (1999).

Question 11

What is the full form of SAAR?

Accepted Answer

SAAR stands for Social Auditing, Accounting, and Reporting, making option D the correct choice. Option A includes "social activities" which is not related to the term SAAR. Option B includes "attributes reporting" which is not part of the SAAR acronym. Option C includes "social activation" which is not typically included in the definition of SAAR. SAAR is short form of social auditing, accounting, and reporting.

Question 12

Greenpeace, Free Burma Coalition, and PETA are examples of

Accepted Answer

Greenpeace, Free Burma Coalition, and PETA are Non-Governmental Organizations (NGOs) - private organizations that operate independently of governments and work to address social or environmental issues. Greenpeace, Free Burma Coalition, and PETA are examples of non-governmental organizations (NGOs).

Question 13

When a company attempted the Green strategy but got public criticism, what could be the issue with that?

Accepted Answer

Public criticism is often a result of perceived inconsistency between a company's stated green strategy and their actual actions. This can lead to accusations of greenwashing, which damages the company's reputation and credibility. See Environmental/green marketing section for more information.

Question 14

Choosing a cause to support is an important decision for a corporation. The selection of the cause must be done carefully, since the cause or causes must ___________with your consumers and have a ___________ with your company brand.

Accepted Answer

The correct choice is A) resonate, logical association because it suggests that the cause should emotionally connect ("resonate") with consumers and have a sensible ("logical association") connection with the company's brand.

Quiz 11: Social and Ethical Strategies