Question 1

BlendMate,a firm that manufactures high-end blenders,donates $10 per blender sold to a local food bank.This is a form of corporate social responsibility.

Accepted Answer

Corporate social responsibility refers to the actions taken by a company to contribute to the welfare of the society, environment, or any other stakeholder beyond its business interests. In the scenario given, BlendMate's donation of $10 per blender sold to the local food bank is an example of its commitment to social responsibility.

Question 2

Key corporate social responsibility (CSR)stakeholders include employees,customers,the marketplace,and society.

Accepted Answer

Key CSR stakeholders include employees, customers, the marketplace, and society.

Question 3

A roofing company agreed to complete a job in one week and collected a 50 percent deposit,but never showed up to do the job.The same roofing company then donated $6,000 to a local children's hospital.The roofing company could be considered socially responsible.

Accepted Answer

True

Question 4

Among the key differences between conscious marketing and CSR is the unique view on shareholders that is absolutely critical to CSR.

Accepted Answer

Conscious marketing places equal importance on the needs and interests of all stakeholders, including employees, customers, suppliers, communities, and the environment, while CSR focuses specifically on how a company can benefit society and the environment beyond its financial bottom line, often with a primary emphasis on shareholder value. Therefore, the unique view on shareholders is not critical to conscious marketing, but it is critical to CSR.

Question 5

The consideration of stakeholders and their interdependence is one of the four overriding principles of conscious marketing.

Accepted Answer

The consideration of stakeholders and their interdependence is indeed one of the four overriding principles of conscious marketing.

Question 6

Stakeholders typically include the firm's employees and their families,customer groups,members of the community,the environment,and the firm's partners and competitors.

Accepted Answer

This statement is true. Stakeholders refer to any individual or group who has an interest or stake in the success or failure of a business. Common stakeholders include employees, customers, community members, suppliers, and competitors.

Question 7

The first step in ethical decision making is to gather information and identify stakeholders.

Accepted Answer

The answer of The first step in ethical decision making...

Question 8

Badger Hardware was planning on raising the pay of its managers,but not its frontline employees.To determine the potential ethical issues,it should first identify the issues involved so that it can gather facts related to those issues.

Accepted Answer

Before making any decision, it is important to identify and gather facts related to potential ethical issues involved. This will help in analyzing and assessing the implications of the decision on various stakeholders, such as employees, customers, shareholders, etc. Therefore, Badger Hardware should first identify the ethical issues involved before deciding to raise the pay of its managers without increasing the pay of its frontline employees.

Question 9

Marketing ethics can involve societal issues such as the sale of products or services that may damage the environment or global issues such as the use of child labor.

Accepted Answer

Marketing ethics can involve both societal and global issues, as the sale of products or services that may damage the environment or the use of child labor are both examples of ethical considerations in marketing.

Question 10

The purpose of conscious marketing is to make a product by selling products and services.

Accepted Answer

The purpose of conscious marketing is not solely to sell products and services, but to also consider the impact of these products and services on society and the environment. Conscious marketing aims to promote ethical and sustainable business practices while also meeting the needs and wants of consumers.

Question 11

Coca-Cola spent $102 million through The Coca-Cola Campaign focusing on water stewardship,healthy and active lifestyles,community recycling,and education.This is an illustration of a CSR program.

Accepted Answer

The Coca-Cola Campaign focuses on social responsibility and sustainability, specifically in the areas of water stewardship, promoting healthy and active lifestyles, community recycling, and education. This allocation of resources towards social responsibility is an example of a Corporate Social Responsibility (CSR) program.

Question 12

Marketing ethics is concerned with distinguishing between right and wrong actions and decisions that arise in a business setting,according to broad and well-established moral and ethical principles that might arise in a business setting,and any special duties or obligations that apply to persons engaged in commerce.

Accepted Answer

The answer of Marketing ethics is concerned with distinguishing between...

Question 13

The Golden Rule test asks the question,"Would I like to be on the receiving end of this action and all its potential consequences?"

Accepted Answer

The Golden Rule test does ask the question of whether one would like to be on the receiving end of an action and its consequences.

Question 14

Brainstorming in the ethical decision-making framework occurs immediately following the identification of issues.

Accepted Answer

The answer of Brainstorming in the ethical decision-making framework occurs...

Question 15

When Walmart pressured its vendors to supply it with environmentally friendly merchandise with labels to prove it,this most relates to the concept of sustainability.

Accepted Answer

The concept of sustainability involves environmental responsibility and ensuring that resources are used in a way that meets the present needs without compromising the ability of future generations to meet their own needs. Walmart pressuring its vendors to supply it with environmentally friendly merchandise with labels to prove it aligns with this concept of sustainability.

Question 16

One way in which conscious marketing differs from corporate social responsibility (CSR)is that CSR takes a holistic,ecosystem view of business as a complex,adaptive system.

Accepted Answer

Conscious marketing is the approach that takes a holistic, ecosystem view of business as a complex, adaptive system, focusing on the well-being of all stakeholders, including the environment. CSR, while it may consider broader impacts, does not inherently adopt this comprehensive, systemic perspective.

Question 17

Ethos Water donates 2 percent of its profits to children in need of clean water.This action demonstrates that Ethos Water is a firm with a strong ethical climate.

Accepted Answer

The answer of Ethos Water donates 2 percent of its...

Question 18

A common view in today's business climate is that the only responsibility of a business is to its shareholders,so its only purpose is to make a profit.

Accepted Answer

While maximizing shareholder value is a primary focus, businesses today are increasingly held to broader responsibilities, including social and environmental considerations, often referred to as corporate social responsibility (CSR). This reflects a more holistic view of a business's purpose beyond just profit-making.

Question 19

Corporate social responsibility refers to the coordinated actions of government organizations to address the ethical,social,and environmental impacts of business operations.

Accepted Answer

Corporate social responsibility refers to the actions taken by businesses themselves, not government organizations. However, government policies and regulations can influence and encourage corporate social responsibility.

Question 20

From a conscious marketing perspective,social responsibility is at the core of the business through the higher purpose and viewing the community and the environment as stakeholders.

Accepted Answer

Conscious marketing emphasizes social responsibility as a core value, considering not only profits but also the impact on society and the environment. This involves recognizing the community and the environment as stakeholders with whom the business should interact responsibly.

Quiz 4: Conscious Marketing,corporate Social Responsibility,and Ethics