Deck 4: Corporate Social Responsibility

Question 1

The policy of "doing well by doing good," refers to the belief that doing good for the company is just good business.

Answer 1

False

Question 2

Joseph
F.Keefe asserts that there are five major trends behind the CSR phenomenon.
F.Keefe asserts that there are three major trends behind the CSR phenomenon.
Joseph

Answer 2

False

Question 3

Corporate social responsibility refers to the actions of an organization that target the achievement of a social benefit over and above maximizing profits for its shareholders and meeting all of its legal obligations.

Answer 3

True

Question 4

The modern social contract approach argues that since a corporation depends on society for its existence and continued growth,there is an obligation for that corporation to meet the demands of society rather than the demands of a targeted group of customers only.

Question 5

Corporate citizenship is an alternative term for corporate social responsibility,implying that the organization is a citizen responsible for meeting all of its obligations.

Question 6

From an ethical perspective,Friedman argues that it would be unethical for a corporation to do anything other than deliver profits for which investors have entrusted it with their funds in the purchase of shares in the corporation.

Question 7

Today's thirsty public want much more than a cool,refreshing drink for a quarter,and they're demanding said beverage be made of juice squeezed from lemons not sprayed with insecticides toxic to the environment and achieving this above maximizing profits for its shareholders.This is an example of corporate social responsibility.

Question 8

Transparency is a major trend behind the CSR phenomenon.

Question 9

Lay-offs reduce corporation costs and only affect the laid off employees.

Question 10

From an ethical perspective,Friedman argues that it would be unethical for a corporation to do anything other than deliver profits for which investors have entrusted it with their funds in the purchase of shares in the corporation,regardless whether it stays within the rules of the game.

Question 11

The social contract approach is a very simplistic model that argues that the corporation only has an obligation to itself.

Question 12

Friedman's view of the corporate world supports the rights of individuals to make money with their investments.

Question 13

Organizations that demonstrate a "conscience" beyond profit generation inevitably attract the same amount of attention as organizations that are bottom line-driven.

Question 14

The companies that support the policy of "doing well by doing good" believe that doing what's best in the long-term interest of the customer is ultimately doing what's best for the company.

Question 15

Management by inclusion refers to the belief that a corporation's actions impact their customers,employees,suppliers,and the communities in which they produce and deliver their goods and services and some of these groups will be positively affected and others will be negatively affected.

Question 16

As far back as 1969,Henry Ford recognized that corporations operate in an isolated environment.

Question 17

Once CSR becomes part of its strategic plan,choices have to be made as to how the company will address this new element of corporate management.

Question 18

In an economic approach to corporate management a corporation's only obligation is to maximize profits for its shareholders through the provision of goods and services that meet the needs of its customers.

Question 19

Corporate conscience is an antonym for corporate social responsibility,implying that the organization is not a citizen responsible for meeting all of its obligations.

Question 20

The instrumental approach argues that the only obligation of a corporation is to maximize profits for its shareholders in providing goods and services that meet the needs of its customers.

Question 21

Ethical CSR is the purest or most legitimate type of CSR.

Question 22

Economic CSR is the purest or most legitimate type of CSR.

Question 23

The challenge of 3BL is that it is difficult to say just how good is the reporting of an organization's efforts,such as Wayne and MacDonald presenting the scenario of donating 1.2 percent of its profits,without knowing how large the firm is and what the averages are in its industrial sector.

Question 24

Altruistic CSR takes a philanthropic approach by giving back to the local community or to designated national or international programs.

Question 25

When Home Depot announced a direct cash donation of $1.5 million to support the relief and rebuilding efforts in areas devastated by Hurricane Katrina,this is an example of Economic CSR.

Question 26

Altruistic CSR is a philanthropic approach to CSR,in which organizations underwrite specific initiatives to give back to the company's local community or to designated national or international programs.

Question 27

CSR initiatives have been shown to generate immediate financial gains to the organization after implementation.

Question 28

Corporations that choose to experiment with CSR initiatives run the risk of creating adverse results and ending up worse off than when they started,as the public sees little more than a token action concerned with publicity rather than community.

Question 29

When an organization uses strategic CSR,it faces the smallest risk of being perceived as using self-serving behavior.

Question 30

Corporations merely experimenting with CSR initiatives run the risk of creating adverse results and ending up worse than when they started.

Question 31

In contrast to the alleged immorality of altruistic CSR,critics argue that strategic CSR is ethically commendable since these initiatives benefit stakeholders while meeting fiduciary obligations to the company's shareholders.

Question 32

Many organizations find it difficult to make the transition from CSR as a theoretical concept to CSR as an operational policy.

Question 33

The question with strategic CSR remains: without a win-win payoff,would such CSR initiatives be authorized?

Question 34

Ethical CSR is the purest or most legitimate type of CSR in which organizations pursue a clearly defined sense of social conscience in managing their financial responsibilities to shareholders,their legal responsibilities to their local community and society as a whole,and their ethical responsibilities to do the right thing for all their stakeholders.

Question 35

One of the newest and increasingly questionable practices in the world of CSR is the notion of making your operations "carbon neutral."

Question 36

Strategic CSR targets programs that will generate the most positive publicity or goodwill for the organization.

Question 37

It may be easy to make a public commitment to CSR,but actually delivering on that commitment to the satisfaction of your customers can be much harder to achieve.

Question 38

There are four distinctive types of CSR: economic,ethical,altruistic,and strategic.

Question 39

Many corporations are now reporting a triple bottom line in their annual reports that includes updates on their social and environmental activities in addition to their bottom line financial performance.

Question 40

With the transition to an information based economy,consumers and investors have more information at their disposal than at any time in history,which is one of the major trends of the CSR phenomenon.

Question 41

In a _______,a corporate executive is an employee of the owners of the business.

A)capitalist,public property system
B)socialist,state-owned system
C)laissez-faire,public property system
D)free-enterprise,private property system

Question 42

By recognizing ______ rather than ______,corporations must maintain a long-term perspective rather than simply delivering quarterly earnings numbers.

A)stakeholders; shareholders
B)customers; investors
C)community partners; shareholders
D)shareholders; stakeholders

Question 43

The ______ approach to corporate management is considered simplistic because it assumes that there are no external consequences to the actions of the corporation.

A)Shareholder
B)Social contract
C)Economic
D)Instrumental

Question 44

The practices of making a company's operations "carbon neutral" to off set damage to the environment through your greenhouse gas emissions was initially developed as a solution for those industries that face significant challenges in reducing their emissions,such as airlines or automobile companies.

Question 45

Many,if not most,developing countries are governed by ______ regimes.

A)dysfunctional
B)effective
C)efficient
D)controlling

Question 46

As early as 1969,_____ recognized that corporations do not operate in an isolated environment.

A)Henry Ford II
B)Milton Friedman
C)Steve Jobs
D)Allen Greenspan

Question 47

The _____approach to corporate management states that the only obligation of a corporation is to maximize profits for its shareholders.

A)Shareholder approach
B)Social contract approach
C)Economic approach
D)Instrumental approach

Question 48

Many companies adopted a policy of _______ only after the surprising public response to issues companies did not previously consider to be part of their business responsibilities.

A)social conscience
B)instrumental citizenship
C)corporate social responsibility
D)social contracts

Question 49

You can learn what your carbon footprint is at HYPERLINK "http://www.carbonfootprint.com/calculator.aspx"

Question 50

The greatest period of reform in the U.S.produced all of the following,except:

A)Unemployment laws
B)The minimum wage
C)Child labor laws
D)Sexual harassment laws

Question 51

______ implies that the organization is a citizen,responsible for meeting all of its obligations.

A)Corporate ethics
B)Ethical obligation
C)Corporate conscience
D)Corporate citizenship

Question 52

The policy of _______ is the corporate social responsibility of doing what's in the best in the long-term interest of the customer is ultimately is doing what's best for the company.

A)sustainability
B)doing well by doing good
C)social contract
D)doing well by responsibility

Question 53

______ implies that an organization operates with an awareness of its obligation to society.

A)Corporate social responsibility
B)Corporate social obligation
C)Corporate conscience
D)Corporate citizenship

Question 54

____ said that it would be unethical for a corporation to do anything other than deliver profits for its investors.

A)Henry Ford II
B)Milton Friedman
C)Steve Jobs
D)Allen Greenspan

Question 55

In the last 30 years alone,we have consumed ______ of the planet's resources.

A)1/4
B)1/3
C)1/2
D)4/5

Question 56

All of the following are major trends behind the CSR phenomenon except:

A)sustainability
B)globalization
C)the failure of the private sector
D)knowledge

Question 57

As early as 1969,it was recognized that corporations ______.

A)actions do not impact their external environment
B)do not operate in an isolated environment
C)can actually increase their profits by being socially responsible
D)have a responsibility to shareholders before stakeholders

Question 58

The definition of corporate social responsibility assumes the corporation ______.

A)is operating in a competitive environment
B)is committed to a retrenchment strategy
C)complies with federal and state legal obligations
D)is committed to a moderate growth strategy

Question 59

The Greenhouse Gas Association (GHGA)promotes the standardization of carbon trading on a global scale.

Question 60

______ are the actions of an organization that target achieving a social benefit over and above maximizing profits for its shareholders and meeting all legal obligations.

A)Corporate social responsibility
B)Corporate social obligation
C)Corporate conscience
D)Corporate citizenship

Question 61

Organizations pursuing a clearly defined sense of social conscience in managing their financial responsibilities to shareholders,their legal responsibilities to their local community and society as a whole,and their ethical responsibilities to "do the right thing" for all their stakeholders follow a(n)_______ initiative.

A)altruistic CSR
B)strategic CSR
C)ethical CSR
D)economic CSR

Question 62

Corporate ______________________ implies that an organization operates with an awareness of its obligation to society.

Question 63

In November 2006,the Deutsche Bank teamed up with more than a dozen investment banks and five carbon-trading organizations in Europe to create the __________.

A)Carbon Counter Association (CCA)
B)Greenhouse Gas Association (GHGA)
C)European Carbon Investors and Services Association (ECIS)
D)Clean Air Association (CAA)

Question 64

The ______________________ approach to corporate management is considered simplistic because it assumes that there are no external consequences to the actions of the corporation.

Question 65

Corporations that experiment with CSR initiatives run the risk of creating all of the following results,except:

A)employees feel that they are working for an insincere organization
B)the public sees the initiative as little more than a token action
C)shareholders feel that their organization will deliver bigger profits with their initiatives
D)the organization does not see much benefit of CSR and therefore sees no need to develop the concept

Question 66

Corporate ________________________ implies that the organization is responsible for meeting all of its obligations.

Question 67

Many companies adopt a policy of corporate __________________________ only after being surprised by public responses to issues they had not previously thought were part of their business responsibilities.

Question 68

________ is one of the newest and increasingly questionable practices in the world of CSR.

A)Risk management and emergency preparedness
B)Water conservation
C)Greenhouse gas conscience
D)"Carbon neutral" operations

Question 69

Corporate _______________________ are the actions of an organization that target achieving a social benefit over and above maximizing profits for its shareholders and meeting all legal obligations.

Question 70

By recognizing ___________________ rather than ___________________,corporations must maintain a long-term perspective rather than simply delivering quarterly earnings numbers.

Question 71

Southwest Airlines supports the Ronald McDonald Houses with donations of both dollars and employee-donated volunteer hours.This is an example of _______ CSR.

A)Strategic
B)Economic
C)Altruistic
D)Ethical

Question 72

The practices of making a company's operations _______,to off set damage to the environment through their greenhouse gas emissions,was initially developed as a solution for those industries that face significant challenges in reducing their emissions.

A)focused on consumerism
B)focused on water conservation
C)"greenhouse gas neutral"
D)"carbon neutral"

Question 73

The __________________ approach to corporate management states that the only obligation of a corporation is to maximize profits for its shareholders.

Question 74

Which approach to CSR argues that philanthropic initiatives are authorized without concern for the corporation's overall profitability?

A)Altruistic
B)Ethical
C)Economic
D)Strategic

Question 75

Many CSR initiatives ______.

A)generate immediate financial gains to the organization
B)do not generate long-term financial gains to the organization
C)do not generate immediate financial gains to the organization
D)generate enough financial gains for the organization to break even

Question 76

Many corporations are now reporting ______ in their annual reports that includes updates on their social and environmental activities in addition to their bottom line financial performance.

A)consumerism
B)a double bottom line
C)economic CSR
D)a triple bottom line

Question 77

______ CSR encompasses philanthropic activities targeted toward programs that generate the most positive publicity or goodwill for the organization.

A)Altruistic
B)Ethical
C)Economic
D)Strategic

Question 78

_____ is a philanthropic approach to CSR,in which organizations underwrite specific initiatives to give back to the company's local community or to designated national or international programs.

A)altruistic CSR
B)strategic CSR
C)ethical CSR
D)economic CSR

Question 79

___________________________ said that it would be unethical for a corporation to do anything other than deliver profits for its investors.

Question 80

_____ CSR is the most legitimate type of CSR.

A)Altruistic
B)Ethical
C)Economic
D)Strategic