Question 1

Which two dimensions form the foundation of corporate social responsibility in that they are required of a firm?

Accepted Answer

Legal and economic responsibilities are foundational for corporate social responsibility as they are required for a firm's operation and survival.

Question 2

An organization's obligation to maximize its positive impact and minimize its negative impact on society is referred to as

Accepted Answer

Corporate Social Responsibility (CSR) refers to an organization's obligation to operate in a way that benefits society as a whole, including its stakeholders such as employees, customers, and local communities. CSR requires companies to go beyond just obeying ethical and legal standards, and actively work towards making a positive impact on society and the environment. It involves taking responsibility for the company’s effects on environmental and social wellbeing.

Question 3

The duty to be profitable falls under which dimension of corporate social responsibility?

Accepted Answer

The duty to be profitable falls under the economic dimension of corporate social responsibility. This dimension relates to a company's responsibility to generate profits for its shareholders and provide a return on investment.

Question 4

Every year the high school hosts a faculty-staff basketball game to raise money for the American Heart Association.Along with a cash donation,the local Subway restaurant donates sandwiches that the high school can sell at the game to earn extra money for the charity.By doing so,Subway is engaged in

Accepted Answer

Subway's donation of sandwiches for the charity event is an example of corporate philanthropy, which involves businesses donating resources or funds to support charitable causes.

Question 5

What key element of developing a successful corporate social responsibility (CSR)program is exhibited when a company meets with the community to understand the impact that water usage by its manufacturing plant will have on the surrounding areas?

Accepted Answer

Good stakeholder management involves actively engaging with and considering the perspectives and concerns of those impacted by a company's actions, including the surrounding community. By meeting with the community to understand the impact of its water usage, the company is demonstrating this important element of developing a successful CSR program.

Question 6

Which of the following is not one of the four dimensions of corporate social responsibility?

Accepted Answer

Social responsibility is one of the four dimensions of corporate social responsibility, along with philanthropic, ethical, and economic. Legal responsibility could be considered a subset of ethical responsibility, as it pertains to a company's obligation to operate within the boundaries of the law.

Question 7

Corporate social responsibility refers to

Accepted Answer

Corporate social responsibility refers to an organization's obligation to maximize its positive impact and minimize its negative impact on society. This involves taking actions that go beyond the minimum legal requirements and ethical norms, and focusing on creating social, environmental, and economic value for all stakeholders.

Question 8

What is the driving consideration across the four dimensions of corporate social responsibility?

Accepted Answer

The driving consideration across the four dimensions of corporate social responsibility is stakeholder responsibility. While profitability, corporate philanthropy, ethics, and corporate volunteerism are all important, stakeholder responsibility is the overarching consideration. This involves taking into account the impact that business decisions have on all stakeholders, including employees, customers, communities, and the environment. By prioritizing stakeholder responsibility, companies can ensure that they are creating long-term value for all stakeholders, not just short-term profits for shareholders.

Question 9

The Dannon Company supports the National Breast Cancer Foundation through its Give Hope with Every Cup initiative.When consumers purchase specially marked Dannon products and enter the under-the-lid codes online,Dannon will make a donation to the foundation,for a total donation of up to $1.5 million.This is an example of

Accepted Answer

Corporate philanthropy is a form of corporate social responsibility in which a company donates money or resources to a charitable cause. In this case, Dannon is donating money to the National Breast Cancer Foundation through its Give Hope with Every Cup initiative.

Question 10

According to your text,what is meant by good corporate leadership as a key element in developing a successful corporate social responsibility (CSR)program?

Accepted Answer

Good corporate leadership involves balancing the four dimensions of CSR (economic, legal, ethical, and philanthropic) and effectively communicating the company's intentions. This helps in successfully implementing socially responsible behavior. The other answer choices do not fully capture the idea of good corporate leadership in CSR implementation.

Question 11

The act of organizations voluntarily donating some of their profits or resources to charitable causes is referred to as

Accepted Answer

The act described in the question is specifically referred to as "corporate philanthropy." This refers to organizations donating their resources, such as money or time, to charitable causes. The other answer choices are related to corporate social responsibility or ethical behavior but do not specifically refer to the act of donating to charity.

Question 12

Failure to adhere to the _______ dimension of corporate social responsibility led to the demise of Enron,Arthur Andersen,and WorldCom.

Accepted Answer

The answer of Failure to adhere to the _______ dimension...

Question 13

Which of the following is not true regarding corporate social responsibility (CSR)programs?

Accepted Answer

CSR is not the sole responsibility of the marketing department. It involves all aspects of a company's operations and requires the cooperation and participation of all departments and employees.

Question 14

The moral standards expected by a society are called

Accepted Answer

Moral standards are most commonly referred to as ethics, which are the principles and values that guide individuals and organizations in determining right and wrong behavior. While cultural values, religious principles, folkways, and social norms may all influence ethical standards, ethics refer specifically to the moral principles that guide decision-making and behavior.

Question 15

In 2010,an explosion on a BP oil rig in the Gulf of Mexico caused loss of life and grave environmental consequences for the surrounding area.In response,BP worked to clean up the area,compensated people affected by the impact of the accident,and supported the economic recovery of Gulf Coast tourism and seafood industries impacted by the oil spill.BP has also committed funding for independent research on the Gulf of Mexico ecosystem so it can better understand and mitigate the potential impacts of oil spills.In short,BP exhibited

Accepted Answer

BP's actions show corporate social responsibility, which is the ethical obligation of businesses to act in the best interest of society and the environment. They took responsibility for the effects of the oil spill, provided compensation to those affected, and supported the recovery of the local economy. Additionally, they committed funding for independent research to better understand and mitigate the potential impacts of oil spills. The actions taken by BP went beyond just shareholder responsibility and demonstrate a commitment to being a responsible corporate citizen. The options C, D, and E do not accurately describe BP's actions.

Question 16

According to your text,which department is primarily responsible for the ideas and strategies that comprise a corporate social responsibility (CSR)program in many organizations?

Accepted Answer

Marketing department is primarily responsible for the ideas and strategies that comprise a corporate social responsibility (CSR) program in many organizations. They are responsible for understanding the needs and wants of customers and creating strategies that align with the company's values and mission. CSR is often seen as an important aspect of a company's marketing strategy, as it can help build brand reputation and attract customers who value ethical business practices.

Question 17

An organization that wants to determine how well its corporate social responsibility program is working can do so by

Accepted Answer

Conducting an audit of the program is the best way to assess how well the corporate social responsibility program is working. This will allow the organization to identify any areas that may need improvement and make necessary changes to ensure the program is effective. Examining financial statements or assessing promotional strategy may provide some information, but it won't give a complete picture of the program's impact. Comparing itself to the competition or determining if sales have increased may be relevant to overall performance, but they do not specifically measure the success of a CSR program.

Question 18

The process of developing an organization's corporate social responsibility program begins when a firm incorporates a focus on fulfilling the economic,legal,ethical and philanthropic dimensions into its

Accepted Answer

The answer of The process of developing an organization's corporate...

Question 19

Ethics can be defined as

Accepted Answer

Ethics refer to the moral standards and principles that a society expects individuals and organizations to uphold. They are shaped by cultural, social, and historical factors and are not universal across different societies or religions. While laws and regulations do play a role in shaping ethical practices, they do not solely define them. Similarly, while some religious principles may guide ethical behavior, not all ethical practices are based on religious beliefs. Folkways are cultural practices and traditions, but not all of them are considered ethical or moral.

Question 20

The view that an organization has an obligation to those who can affect the achievement of its objectives is referred to as

Accepted Answer

The concept of stakeholder responsibility holds that organizations have a responsibility to consider the impacts of their decisions and actions on all stakeholders who can affect their objectives, not just shareholders or owners. This includes employees, customers, suppliers, the community, and other groups. Corporate philanthropy and volunteerism involve charitable giving and volunteer efforts by the organization, and benefit marketing and social marketing are marketing strategies aimed at creating social and environmental benefits.

Quiz 16: Social Responsibility and Sustainability