Question 1

Companies can manage their responses to social pressures by moving through a process of:

Accepted Answer

CSR implementation (Corporate Social Responsibility) is a comprehensive process that includes the company's efforts to align their business values and operations with the expectations of their stakeholders and society as a whole. By implementing CSR, companies can demonstrate their commitment to sustainable practices, ethical conduct, and social impact, which can help to mitigate social pressures and enhance their reputation. Hiring and firing, customer service, and expanding product lines are also important aspects of managing a company's response to social pressures. However, CSR implementation is a more comprehensive and strategic approach that can address the root causes of social pressures and achieve long-term sustainability.

Question 2

Which of the following is a relevant categorization of stakeholders according to their power to affect a firm's business?

Accepted Answer

Categorizing stakeholders based on their power to affect a firm's business would be most relevant using the classification of high, medium, or low influence. This allows the firm to prioritize engagement and decision-making with stakeholders who have the highest potential impact. The other options provided do not address the level of power or influence that stakeholders may hold.

Question 3

The two elements that determine the CSR orientation of a firm are its business model and its:

Accepted Answer

While strategic alliances, investor relations, and philanthrocapitalism can all contribute to a firm's CSR orientation, the most significant factor is typically leadership. Company leaders have the power to shape the business model and set priorities for social responsibility, making them the primary determinant of a company's CSR approach.

Question 4

Which of the following sketches stakeholders in categories and depicts their relationship to the firm?

Accepted Answer

The stakeholder map is specifically designed to sketch stakeholders in categories and depict their relationship with the firm. It is a visual representation of the various stakeholders in relation to the organization, enabling stakeholders to understand their position and influencing their strategies and actions. Analysis map, concept map, and stakeholder model are not primarily designed to depict stakeholders' relationships to a firm.

Question 5

Which of the following is a relevant categorization of stakeholders according to their orientation to the firm?

Accepted Answer

Categorizing stakeholders as confrontational, neutral, or supportive better describes their orientation towards the firm and their potential impact on the company's operations and decisions. Options B and C only focus on influence, which is just one aspect of stakeholder analysis. Option D is overly specific and limits the categorization to only three groups that may not apply in all situations.

Question 6

Most companies,including nearly all of the largest multinationals,vary in their reaction to pressures in the operating environment across a spectrum from reluctance to enthusiasm.At the right of this spectrum:

Accepted Answer

The right side of the spectrum is where companies are more willing to respond to pressures in the operating environment by being proactive and anticipating demands to resolve problems before they arise. This indicates a greater level of corporate citizenship and social responsibility than simply focusing on making a profit or obeying the minimum legal requirements.

Question 7

Which of the following is a rare variant of the progressive model wherein a founder with noble impulses left a culture inclined to corporate responsibility?

Accepted Answer

The rare variant of the progressive model often refers to a large corporation that was founded with noble impulses, leading to a culture of corporate responsibility. This is because such corporations, due to their size and influence, have the resources and visibility to significantly impact social and environmental issues, and when founded with a commitment to positive change, they can maintain a culture of responsibility over time.

Question 8

As a first step in implementing corporate social responsibility,a corporation should:

Accepted Answer

Assessing the current situation and activities of the corporation is the first step in implementing corporate social responsibility as it helps the company understand where it currently stands and what changes need to be made. Once the assessment is complete, the corporation can then develop an overall strategy, translate it into specific goals and performance objectives, and engage in dialogue with stakeholders.

Question 9

The basic purpose of a company that defines the type of business in which the company is engaged in and explains how it differs from its competitors is called a:

Accepted Answer

A mission statement defines the purpose or core focus of a company, including its type of business and unique selling points compared to its competitors. GRI (Global Reporting Initiative) is a framework for sustainability reporting. Social issue refers to a problem or concern that affects society. Corporate social reporting method is a broader term that encompasses the various ways a company reports its social and environmental impacts, including through sustainability reports, annual reports, and other channels.

Question 10

Which of the following defines a business,differentiates it from competitors,explains relationships with stakeholders,and focuses energy on critical activities and goals?

Accepted Answer

A mission statement defines the purpose and values of a business, sets it apart from competitors, and communicates its goals to stakeholders. An annual report provides financial information and highlights achievements, but may not necessarily address these other aspects of a business. A social contract is a broader concept referring to the implicit understanding between a company and its stakeholders regarding responsibilities and expectations. A code of conduct outlines ethical principles and guidelines for behavior, but may not provide a comprehensive overview of the business's purpose and goals.

Question 11

When Hershey Foods states that its purpose is "to consistently create shareholder value by achieving excellence in every aspect of our business," this is called its:

Accepted Answer

Hershey Foods' statement is its mission statement, which outlines the company's primary objective and purpose.

Question 12

Which of the following statements about a CSR review is false?

Accepted Answer

A CSR review can examine competitors' initiatives as well as regulatory requirements.

Question 13

_____ values are the central beliefs that guide decisions and reside deep in a company's culture.

Accepted Answer

Core values are the fundamental beliefs that are deeply ingrained in a company's culture, and they guide decision-making processes. These values serve as a compass for employees and help them understand what the company stands for, what its goals are, and what behavior is expected at all times. By following these values, companies can establish a strong corporate culture and build trust with customers, stakeholders, and employees alike. Created values may be important, but they are not as essential to a company's identity and decision-making processes as core values. Implicit and protected values do not accurately describe the values being referred to in the question.

Question 14

A progressive business model:

Accepted Answer

A progressive business model is one that not only focuses on making a profit but also takes into account the social and environmental impact of its actions. It defines a strategy that meets market needs while also mitigating social and environmental problems. It goes beyond obeying the minimum legal requirements and seeks to make a positive impact on society. Therefore, option C is the best choice. Options A, B, and D do not fully capture the essence of a progressive business model.

Question 15

According to Michael Porter and Mark Kramer,an "essential test" for the worthiness of any additional social initiative is to determine whether it presents an opportunity to create _____ that is,a meaningful benefit for society that is also valuable to the business.

Accepted Answer

Michael Porter and Mark Kramer coined the term "shared value" to describe initiatives that create a meaningful benefit for society while also being valuable to the business. Therefore, the correct answer is C - shared value.

Question 16

Which of the following refers to a basic approach,method,or plan for achieving an objective?

Accepted Answer

A strategy is a basic approach, method or plan for achieving an objective. A vision is a statement of an organization's future aspirations, a mission statement articulates an organization's purpose or reason for existence, and an initiative is a specific action or project undertaken to achieve a goal or objective within a larger strategy.

Question 17

The statement of how a business will create value by selling something in the marketplace is called:

Accepted Answer

The statement of how a business will create value by selling something in the marketplace is called a business model. It outlines the strategy for generating revenue, identifying the target customers, and delivering the product or service to the market.

Question 18

A progressive business model:

Accepted Answer

A progressive business model is one which defines a strategy that meets market needs by mitigating social problems. This means that the business not only focuses on making a profit but also on addressing social and environmental challenges in their operations. Option A describes a reactive approach, whereas option B describes a traditional profit-focused approach, and option D only focuses on meeting market demands without considering social and environmental factors.

Question 19

A traditional business model:

Accepted Answer

A traditional business model is one in which the central strategy for creating value is based on meeting market demands while complying with the law.

Question 20

_____ are those social issues/impacts related to factors that influence success in the marketplace.

Accepted Answer

The answer of _____ are those social issues/impacts related to...

Quiz 6: Implementing Corporate Social Responsibility

Companies can manage their responses to social pressures by moving through a process of:

Which of the following is a relevant categorization of stakeholders according to their power to affect a firm's business?

The two elements that determine the CSR orientation of a firm are its business model and its:

Which of the following sketches stakeholders in categories and depicts their relationship to the firm?

Which of the following is a relevant categorization of stakeholders according to their orientation to the firm?

Most companies,including nearly all of the largest multinationals,vary in their reaction to pressures in the operating environment across a spectrum from reluctance to enthusiasm.At the right of this spectrum:

Which of the following is a rare variant of the progressive model wherein a founder with noble impulses left a culture inclined to corporate responsibility?

As a first step in implementing corporate social responsibility,a corporation should:

The basic purpose of a company that defines the type of business in which the company is engaged in and explains how it differs from its competitors is called a:

Which of the following defines a business,differentiates it from competitors,explains relationships with stakeholders,and focuses energy on critical activities and goals?

When Hershey Foods states that its purpose is "to consistently create shareholder value by achieving excellence in every aspect of our business," this is called its:

Which of the following statements about a CSR review is false?

_____ values are the central beliefs that guide decisions and reside deep in a company's culture.

A progressive business model:

According to Michael Porter and Mark Kramer,an "essential test" for the worthiness of any additional social initiative is to determine whether it presents an opportunity to create _____ that is,a meaningful benefit for society that is also valuable to the business.

Which of the following refers to a basic approach,method,or plan for achieving an objective?

The statement of how a business will create value by selling something in the marketplace is called:

A progressive business model:

A traditional business model:

_____ are those social issues/impacts related to factors that influence success in the marketplace.