Deck 16: The Socialization of Capitalism

Question 1

An effective strategy for a corporation wishing to develop a CSR oriented strategy is to purchase an existing company that has a recognized CSR strategy.

Answer 1

True

Question 2

Competitive analysis,strategic groups,portfolio analysis,and shareholder value theory are excellent approaches to use when examining the external environment as they concentrate on the social responsibilities.

Answer 2

False

Question 3

A vision is a statement which is future oriented.

Answer 3

True

Question 4

Jane's company is attempting to develop a mission statement.The mission is a key document for communicating with and influencing corporate stakeholders.

Question 5

Firms that are focused on CSR are no more likely to have these concerns reflected in their mission statement than are firms who are not oriented towards CSR.

Question 6

In order to integrate CSR strategy with the overall corporate strategy,management systems for delegation,communications,accountability,and rewards must be in place.

Question 7

Corporations without a vision,mission,or values,are just as likely to achieve their goals as corporations which have a clear vision,mission,and corporate values.

Question 8

Tools that help a firm effectively analyze social responsibility,such as portfolio analysis and strategic groups,have been used by business for many years.

Question 9

A corporation's mission answers the question,"What do we want to become?"

Question 10

Values are the basic assumptions one has about the world in which she/he operates and how it works.

Question 11

Corporate culture is a complex set of values,beliefs,symbols,and assumptions that define the way an organization conducts its business.

Question 12

In a compliance-based strategy,there is little to no consideration given to issues of sustainability.

Question 13

Because CSR is a recent phenomenon in business,there are few benchmarks or best practices from which to draw knowledge.

Question 14

During sustainability implementation,the focus turns to "how" the strategy will be executed.

Question 15

The assessment of internal factors influencing a firm's ability to respond to social and environmental issues has historically been an element of strategic analysis.

Question 16

The mission statement is an objective that helps guide the strategic direction of the firm.

Question 17

Strategic management has traditionally been focused on economic responsibilities of the firm.

Question 18

Support for the sustainability must come from the top,the board of directors' support is not necessary to achieve sustainability objectives.

Question 19

Strategic management is the process through which a corporation establishes a comprehensive,overall strategy.

Question 20

Social and environmental issues are universal and apply to all corporations regardless of the industry in which a corporation operates.

Question 21

The goals and core values important to the corporation,as well as where the corporation wishes to be in the future,are presented in the:

A) Mission statement
B) Vision statement
C) Value statement
D) All of the above
E) None of the above

Question 22

A ________ statement is a broad statement of an organization's reason for being and what separates it from others in the industry.

A) strategic issue
B) mission
C) vision
D) beliefs
E) values

Question 23

Which of the following statements is not true regarding the establishment of objectives?

A) Most objectives are established at the beginning of the process of strategic management.
B) Most corporations have multiple objectives.
C) Objectives regarding social responsibilities reflect personal values and beliefs.
D) The mission statement is an objective stated in general terms.
E) Objectives are the ends the corporation seeks to achieve.

Question 24

Corporate culture is reflected in:

A) symbols
B) traditions
C) language and metaphors
D) value systems
E) all of the above

Question 25

All of the following are external factors,except:

A) The structure of an industry
B) Social trends
C) Employee motivation
D) Government policies
E) Behaviour of the competition

Question 26

Traditionally,key corporate objectives included:

A) economic objectives
B) profitability
C) rate of growth
D) market share
E) all of the above

Question 27

The Canadian population is aging and there is an increased need to provide social and health programs for elderly.Analysis of _________ as a factor of the external environment would lead to this conclusion.

A) the structure of an industry
B) social trends
C) demographics
D) government policies
E) behaviour of the competition

Question 28

"Lobbying for an increase in quotas will certainly help our shareholders maximize short-term return," stated the CFO,"I just don't know whether it is environmentally sound or whether the response from the general public will be so negative that our reputation will suffer." In this case,lobbying for increased quotas is a _____________.

A) strategic issue
B) mission
C) vision
D) belief
E) general objective

Question 29

Designing an implementation strategy should be done after allocating firm resources to the project.

Question 30

Service-learning is a form of student volunteering.

Question 31

Porter and Kramer categorize a corporation's involvement in society into two approaches,responsive and strategic.

Question 32

A corporation's comprehensive corporate strategy addresses itself in all of the following ways,except:

A) Social issues
B) Ethical issues
C) Environmental issues
D) Governance issues
E) Regulatory issues

Question 33

Strategic management is a process through which the corporation establishes all of the following,except:

A) Mission
B) Objectives
C) Policies
D) Resource capabilities
E) Environmental capabilities

Question 34

"We will make the best ice cream in the world" is the ____________ statement of a manufacturing company.

A) strategic issue
B) mission
C) vision
D) beliefs
E) values

Question 35

A corporation's values can be derived from:

A) personal experiences
B) family backgrounds
C) religious training
D) educational systems
E) All of the above

Question 36

Porter and Kramer argue that the CSR model should become a corporate social integration model approach,but that social perspective need not be integrated with business strategy.

Question 37

The mission statement:

A) is sometimes a philosophical statement
B) is an enduring statement of the organization's "reason for being"
C) distinguishes an organization from its competitors
D) is usually quite short and concise
E) All of the above

Question 38

Students taking pledges and oaths have become increasingly popular.

Question 39

Some CSR advocates argue,"CSR should not be thought of as cost,a constraint,or charitable deed,but instead thought of as an opportunity,innovation,and competitive advantage"

Question 40

The corporation has been discussing,for some time,what its future will be in the mining sector.Looking ahead to where they want to be in ten years,a team of stakeholders,state that "We are the future of mining because of our values of integrity,communication,and corporate citizenship." This statement is reflective of a corporate ___________.

A) strategic issue
B) mission
C) vision
D) beliefs
E) philosophy

Question 41

Robert's company is implementing a CSR strategy.One element of the strategy is to limit supports for corporate volunteerism to particular,targeted charitable causes.Guides,such as this one,that help operational managers interpret _____________.

A) social policies
B) operational objectives
C) organizational arrangements
D) social action
E) general objective

Question 42

Compare each of the four sustainability approaches in the sustainability continuum based on the stakeholder focus.

Question 43

Porter and Kramer argue that the CSR model should become a corporate social integration approach.This model would be accomplished by all of the following except

A) Identify the points of interaction between business and society
B) Choosing which social issues to address
C) Creating a social agenda
D) Integrating inside-out and outside-in linkages
E) Creating a framework of compliance and governance guidelines

Question 44

What factors influence the strategist's preferences in determining the approach the organization takes in pursuing a sustainability strategy?

Question 45

Arguments in favour of teaching ethics in Business Ethics include all of the following,except:

A) To increase awareness of unethical conduct
B) Managers often suffer from ethical naiveté
C) To learn techniques of analysis
D) Managers lack influence
E) Rapidly changing business environment

Question 46

According to an article in the Ivey Business Journal,the top 10 hurdles for business sustainability include all the following,except:

A) Companies do not know how best to motivate employees to undertake sustainability initiatives.
B) Consumers consistently factor sustainability into their purchase decisions.
C) Sustainability still does not fit neatly into the business case.
D) Better guidelines are needed for engaging key stakeholders, such as aboriginal communities.
E) There is no common set of rules for sourcing sustainably.

Question 47

Differentiate between three types of social issues: generic,value chain,and social dimensions of competitive context.

Question 48

Compare each of the four sustainability approaches in the sustainability continuum based on the level of management/staff involvement required.

Question 49

The interdependence between business and society takes two forms: inside-out linkages and outside-in linkages.Explain.

Question 50

What factors do organizations need to consider in their assessment of the external environment?

Question 51

Every Saturday morning,XYZ Enterprises holds a general meeting which includes all staff working the day shift that day.Before they open the doors to the public for a busy day of sales,the manager gives a "pep talk" to the employees and together they perform an exercise routine designed to invigorate them and give them energy.The staff always ends up laughing and joking and this sets a jovial mood in the store.This is an example of the:

A) Manager's preference for fitness
B) Traditional foundation upon which XYZ Enterprises was built
C) Work-life balance
D) Value systems in place at XYZ Enterprises
E) Corporate culture

Question 52

Arguments against teaching ethics in business school include all of the following except

A) Too much need for it but not enough resources
B) Few faculty are qualified to teach the course
C) Ethics cannot be taught
D) Cannot meaningfully alter student's behaviour
E) Rapidly changing business environment

Question 53

Discuss three of the principle arguments against the teaching of ethics at post-secondary institutions.

Question 54

What are the four stages in the sustainability strategy continuum?

Question 55

Which of the following must be in place in order to integrate CSR strategy with overall corporate strategic management?

A) systems of delegation
B) communications systems
C) accountability
D) a reward system
E) all of the above

Question 56

Tigana is hoping to implement a CSR strategy in her firm.At this stage of the process,she needs to do all the following,except:

A) Design the corporate structures.
B) Determine resource capability.
C) Develop information and decision processes.
D) Manage human resources.
E) Allocate resources.

Question 57

What is the major difference between the mission statement and the vision statement?

Question 58

Khesia is charged with making sure the implementation of a CSR strategy occurs within her corporation.She,for example,has determined that a(n) ____________ will be needed to set specific targets for the implementation of the __________ of "improving the communities within which factories are located."

A) organizational arrangement, social policy
B) social policy, organizational arrangement
C) operational objectives, objective
D) objective, operational objective
E) objective, general objective

Question 59

Discuss three of the principle arguments in favour of teaching ethics at post-secondary institutions.

Question 60

Monitoring and evaluation are not important in the process of sustainability management.Do you agree or disagree?

Question 61

Describe moral obligation as a justification for corporate social responsibility.What are the limitations?

Question 62

Describe sustainability as a justification for corporate social responsibility.What are the limitations?