Question 1

Importers Are Us has endeavoured to be a good corporate citizen by providing support for community education within the countries from which they import product.This is an example of which component of social responsibility?

Accepted Answer

Providing support for community education goes beyond the basic economic and legal responsibilities of a company, and demonstrates a commitment to philanthropic responsibilities and ethical considerations.

Question 2

Frank,the CEO has been evaluating its CSR policy.For the past several years,the firm has been a significant contributor,of both time and financial resources,to an NGO that serves to educate society on the dangers of drunk driving.Frank reminds the board of directors that the firm's shareholders made a commitment to this organization to provide these supports for ten more years.In focusing on the need to satisfy this commitment,Frank is applying which Amoral-View Theory of Social Responsibility?

Accepted Answer

The theory of Individual Agreement suggests that firms have a responsibility to fulfill their commitments to specific stakeholders, such as the NGO in this case. Frank's focus on satisfying the commitment to provide support to the NGO aligns with this theory.

Question 3

Which of the following was not included in Carroll's pyramid of social responsibility?

Accepted Answer

Carroll's pyramid of social responsibility includes economic, legal, ethical, and philanthropic responsibilities. Managerial responsibilities are not included in the pyramid.

Question 4

The expectations placed on business to improve the quality of life of stakeholders are consistent with the _______ dimension of Carroll's pyramid of social responsibility?

Accepted Answer

The philanthropic responsibilities dimension of Carroll's pyramid of social responsibility involves businesses voluntarily improving the quality of life for stakeholders, going beyond economic, legal, and ethical obligations.

Question 5

ABC Inc.is considering merging with XYZ Corporation and the new enterprise will be called Alphabet Inc.One of the conditions of the merger being negotiated is the implication of XYZ's very positive reputation with its stakeholder groups.Regarding the reputation of XYZ,the negotiators must consider that a good reputation _________________.

Accepted Answer

A good reputation requires continuous effort to maintain, enhances competitive positioning and can also be a liability if not managed properly. Therefore, all of the answers are correct.

Question 6

XYZ Corporation has adopted a Corporate Sustainability perspective that ensures the company follows government regulations and attends to charitable expectations placed on them by society.This is consistent with the ________ level of Corporate Sustainability and reflects the __________ view of Corporate Social Responsibility.

Accepted Answer

The adoption of a Corporate Sustainability perspective that ensures compliance with government regulations and attending to charitable expectations of society reflects a compliance-driven approach to Corporate Social Responsibility, which is focused on meeting legal and societal expectations. The personal vs. social view of CSR is not relevant to this scenario.

Question 7

The view that the corporation has little or no social responsibility is an example of which amoral view of social responsibility?

Accepted Answer

The answer of The view that the corporation has little...

Question 8

Franko has focused on making Financial Futures a good corporate citizen.As a result,Financial Futures may benefit in which of the following?

Accepted Answer

Focusing on being a good corporate citizen can benefit a company in various ways, including employee recruitment, motivation, and retention (A), creativity, and innovation (B), operational efficiency (C), and risk management (D). Therefore, the best choice is E, all of the answers, as all of these benefits can positively impact Financial Futures as a company.

Question 9

All of the responsibilities have always existed in Carroll's pyramid of corporate social responsibility,but which two responsibilities have only become significant recently?

Accepted Answer

The ethical and philanthropic responsibilities have only become significant recently, as companies have increasingly been expected to operate with integrity and contribute to social causes. The other responsibilities (economic, legal, and managerial) have always been considered important in the pyramid of corporate social responsibility.

Question 10

Which of the following statements is inconsistent with Milton Friedman's argument regarding the responsibility of a firm?

Accepted Answer

The answer of Which of the following statements is inconsistent...

Question 11

A local business has received negative media attention because of plans to relocate its factory.The media's focus on the social impact of this decision on the local community where the factory is currently located reflects the __________ principle of corporate social responsibility.The manager of the facility has responded that she is relocating the plant to a site where there will be less environmental impact.The manager is applying the _________ principle of corporate social responsibility.

Accepted Answer

The answer of A local business has received negative media...

Question 12

"A business is not a person," Bill argued."It is not possible to impose moral sanctions on businesses like you would on a person." Bill's position is compatible with which view of social responsibility?

Accepted Answer

The answer of "A business is not a person," Bill...

Question 13

Managerial discretion involves:

Accepted Answer

Managerial discretion refers to the extent of freedom or latitude that managers have in making decisions and taking actions within their organizations. This means that managers have the autonomy and flexibility to use their judgment and expertise to address various issues and challenges faced by their organizations. It is related to the concept of decision-making power or authority that managers have in their roles. Societal expectations, resource dependence, adherence to societal norms, and external expectations may also influence managerial discretion, but they are not the same as managerial discretion itself.

Question 14

Salvo is considering shutting down a local factory.It is recognized that this will have a negative social impact on the community in which Salvo is located.The CEO argues,however,that social considerations should not outweigh economic factors.The CEO's view is most compatible with the ______________ model of Corporate Sustainability.

Accepted Answer

The CEO's stance that economic factors should not be outweighed by social considerations suggests a profit-driven model of corporate sustainability, wherein profit maximization takes precedence over social and environmental concerns.

Question 15

Corporate sustainability includes all of the following,except:

Accepted Answer

Corporate sustainability focuses on compliance, profit, synergy, and caring for the environment and society, but legality is a basic requirement for all business operations, not specifically a component of sustainability.

Question 16

The roles of business as moral actors result in three levels of analysis.These levels include all of the following,except:

Accepted Answer

The three levels of analysis are individual, organizational, and institutional. Societal is not one of the levels.

Question 17

Business has an obligation as a social institution; society gives and can take away the power of business to operate or sanction it if it operates outside of societal expectations.This statement reflects the principle of ___________________.

Accepted Answer

The principle of legitimacy suggests that businesses operate with the consent of society and must align with societal expectations to maintain their right to operate.

Question 18

Which of the following statements are consistent with the Social View of social responsibility?

Accepted Answer

The Social View of social responsibility concludes that firms are social institutions (A) and that society sanctions firms to operate (B).

Question 19

Opponents of corporate responsibility argue that:

Accepted Answer

The answer of Opponents of corporate responsibility argue that:
...

Question 20

Being a good corporate citizen falls under which kind of social responsibility depicted in the pyramid of social responsibility?

Accepted Answer

Being a good corporate citizen, such as engaging in philanthropic activities or contributing to the community, falls under the category of philanthropic responsibilities in the pyramid of social responsibility. This refers to the voluntary actions taken by a company, beyond what is required by law, to improve the well-being of society and the environment.

Quiz 7: Corporate Social Responsibility: The Concept