Deck 3: The Corporations Social Responsibilities

Question 1

Reports have shown that 70 percent of consumers said they would buy a product even if they did not like the company's reputation behind the product.

Answer 1

False

Question 2

Corporate social responsibility (CSR)means that a corporation should:

A) Always forgo profit for the sake of the environment.
B) Be held accountable for any of its actions that affect people, their communities, and their environment.
C) Abandon its other missions.
D) Put social responsibilities ahead of economic or legal responsibilities.

Answer 2

B

Question 3

Enlightened self-interest is the idea that the wealthiest members of society should be charitable toward those less fortunate.

Answer 3

False

Question 4

The concept of corporate social responsibility is rooted in the meaning "to pledge back," creating a commitment to give back to society and the organization's stakeholders.

Question 5

Laws and regulations help create a level playing field for businesses that compete against one another.

Question 6

Corporations have a role in establishing their community's:

A) Tax base.
B) Safety.
C) Economic growth.
D) All of the above.

Question 7

Corporate power says that in the long run,those who do not use power in ways that society considers responsible will tend to lose it.

Question 8

In the United States,the idea of corporate social responsibility appeared around the start of the 20^th century.

Question 9

Businesses that comply with laws and public policies are meeting a minimum level of social responsibility expected by the public.

Question 10

Corporate power refers to:

A) The capability of competitors to influence legislation, trade, and the stock market, based on their organizational resources.
B) The capability of politicians to influence corporations, employees, and unions, based on their organizational resources.
C) The capability of corporations to influence government, the economy, and society, based on their organizational resources.
D) The capability of CEOs to influence product development, employee morale, and currency indices, based on their organizational resources.

Question 11

An argument against corporate social responsibility is that it imposes unequal costs among competitors.

Question 12

One of the most appealing arguments in favor of corporate social responsibility for business supporters is that voluntary social acts may head off increased government regulation.

Question 13

Given the immeasurable power in the hands of the leaders of large,global corporations,social responsibility has become a worldwide expectation.

Question 14

As a response to the conflict between long- and short-term profit making,an enlightened self-interest point of view would be the least useful and practical approach.

Question 15

Being socially responsible means that a company must abandon its other missions.

Question 16

Huge businesses can disproportionately influence politics,shape tastes,and dominate public discourse.

Question 17

Corporate social responsibility is the idea that businesses interact with the organization's stakeholders for social good while they pursue economic goals.

Question 18

Which of the following statements is true about corporate social responsibility?

A) Businesses should monitor and prevent social problems in advance of their becoming major issues.
B) A company should seek maximum profits from its operations in order to provide the best for society.
C) Corporations should be accountable for any actions that affect people, their communities, and the environment.
D) Both A and C, but not

Question 19

The capability of corporations to influence government,the economy,and society,based on their organizational resources is called the big business principle.

Question 20

The iron law of responsibility says that:

A) In the long run, those who do not use power responsibly will lose it.
B) In the short run, sacrifice social goals for economic goals.
C) Law is most important, more than social or economic responsibility.
D) In the long run, economic responsibility leads to social responsibility.

Question 21

Positive reputation can be valued as an intangible corporate:

A) Asset.
B) Liability.
C) Charity.
D) Expense.

Question 22

Proponents against corporate social responsibility feel that public officials,not business people,should solve societal problems because:

A) Business people do not have the skill-set to solve societal problems.
B) The private sector is not mandated to solve these issues.
C) Both A and
D) None of the above.

Question 23

All of the following are examples of the phases of Corporate Social Responsibility except:

A) Corporate/Global Citizenship.
B) Corporate Charity Principle.
C) Corporate Social Stewardship.
D) Corporate/Business Ethics.

Question 24

Stakeholder partnerships,high-tech communication networks,and sustainability audits are examples of:

A) Corporate social stewardship.
B) Corporate social responsiveness.
C) Corporate/Business Ethics.
D) Corporate/Global Citizenship.

Question 25

The costs of corporate social responsibility may ultimately be passed on to the:

A) Employees through fewer health benefits.
B) Consumer through high prices.
C) Investor through stock splits.
D) Taxpayers by the government.

Question 26

According to Barlow v.A.P.Smith Manufacturing:

A) The laws prohibited charitable contributions, at that time.
B) Charitable contributions were bad corporate investments for the short term.
C) Socially responsible actions must be approved by a majority of the firm's stakeholders.
D) Socially responsible actions are in investment in the future, thus an allowable expense.

Question 27

Scholars have found:

A) No relationship between social and financial performance.
B) A negative relationship between social and financial performance.
C) An inverse relationship between social and financial performance.
D) A positive association between social and financial performance.

Question 28

Reason(s)for adopting an enlightened self-interest approach is(are):

A) Reasonable short-run costs are incurred, but socially responsible activities are promoted.
B) The public's attitude toward the company is positive in the long run.
C) The stockholders' pressures for short-run profits are satisfied.
D) All of the above.

Question 29

A social enterprise:

A) Adopts social benefit as its core mission.
B) Adopts profit maximization as its core mission.
C) Can only be adopted by small firms.
D) Does not use business strategies to improve environmental well-being.

Question 30

Which of the following is an argument against corporate social responsibility?

A) Requires skills businesses may lack.
B) Creates an imbalance between corporate power and its economic responsibility.
C) Improves business value and reputation.
D) A majority of stockholders are against it.

Question 31

A company who complies with the laws and regulations set by the government is:

A) Meeting the minimum level of social responsibility expected by the public.
B) Meeting the maximum level of social responsibility expected by the public.
C) Not meeting government expectation.
D) Following a practice of enlightened self-interest.

Question 32

Philanthropic funding and public relations are two examples of corporate social responsibility:

A) Drivers of the Corporate Social Responsiveness phase.
B) Policy instruments of the Corporate Social Stewardship phase.
C) Policy instruments of the Corporate Social Responsiveness phase.
D) Drivers of the Charity Principle phase.

Question 33

When undertaking social initiatives,a company:

A) Must take out social responsibility insurance.
B) Will always receive long-term profits.
C) May sacrifice short-term profits.
D) Risks going bankrupt in nearly all cases.

Question 34

Which of the following is an argument in favor of corporate social responsibility?

A) Lowers economic efficiency and profit.
B) Discourages government regulation.
C) Places responsibility on business rather than individuals.
D) Imposes unequal costs among competitors.

Question 35

Business leaders,like automaker Henry Ford developed these programs to support the recreational and health needs of their employees.

A) Corporate social responsibility programs.
B) Corporate citizenship programs.
C) Social networking programs.
D) Paternalistic programs.

Question 36

Executive conscience,acts of charity,and philanthropic funding are examples of:

A) Corporate social stewardship.
B) Corporate social responsiveness.
C) Corporate/Business Ethics.
D) Corporate/Global Citizenship.

Question 37

Modern corporations should be socially responsible because they:

A) Are responsible to the stockholders of the company.
B) Create jobs, influencing the lives of employees.
C) Are highly profitable.
D) Generate dividends for the company stockholders.

Question 38

Which of the following companies is being the most socially responsible?

A) A company trying its best to operate in a way which will help local students get education and jobs.
B) A company halting its production of toxic gases after it discovered that people objected to this practice and threatened legal action.
C) A company trying to maximize its profits and then contributing to an environmental protection fund.
D) A company changing its product design to comply with regulatory mandates.

Question 39

Which of the following is not a driver of the Corporate Social Responsiveness phase of Corporate Social Responsibility?

A) Religious/ethnic beliefs.
B) Social unrest/protest.
C) Stakeholder pressures.
D) Public policy/government regulations.

Question 40

Which of the following examples does not show a company guided by enlightened self-interest?

A) A company providing the best quality product at a fair price.
B) A company providing assistance to employees who attend evening college.
C) A company breaking past records by maximizing quarterly profits.
D) A company vice-president invited to attend a local community's town planning meeting.

Question 41

Grameen Bank in Bangladesh is one of the most recognized:

A) B Corporations.
B) Microfinance institutions.
C) Yogurt producers.
D) Retail providers.

Question 42

When businesses bring products and services to the many people in the world who have traditionally been beyond the reach of global commerce,they are said to be:

A) Serving the top of the triangle.
B) Reaching the bottom of the globe.
C) Serving the bottom of the pyramid.
D) Focusing on the ends of the supply chain.

Question 43

Define and provide an example of a business practicing enlightened self-interest.

Question 44

Describe the iron law of responsibility.

Question 45

How can a company focus on the needs of its stakeholders without neglecting its shareholder obligations?

Question 46

Why is the Grameen Bank in Bangladesh considered a social enterprise?

Question 47

When a person or group of people identify a social need and use their entrepreneurial skills to address this need,this process is called:

A) Social stewardship.
B) Social entrepreneurship.
C) Social optimism.
D) Social responsibility.

Question 48

Explain why a business should seek to balance its economic,legal and social obligations.

Question 49

This occurs when financial organizations provide loans to low-income clients or solidarity lending groups (a community of borrowers)who traditionally lacked access to banking or related services.

A) Commercial banking.
B) Macrofinancing.
C) Microfinancing.
D) Micro-entrepreneurship.

Question 50

As of 2012,the B Corporation status has been legally recognized in how many states?

A) All 50 states.
B) The original 13 states.
C) Fifteen states.
D) Seven states.

Question 51

Provide three arguments against corporate social responsibility.

Question 52

Provide three arguments in favor of corporate social responsibility.