Corporate social responsibility is the idea that businesses interact with the organization's stakeholders for social good while they pursue economic goals.
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True
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The capability of corporations to influence government, the economy, and society, based on their organizational resources is called the big business principle.
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False
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Huge businesses can disproportionately influence politics, shape tastes, and dominate public discourse.
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True
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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.
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False
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Given the immeasurable power in the hands of the leaders of large, global corporations, social responsibility has become a worldwide expectation.
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True
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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.
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True
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Being socially responsible means that a company must abandon its other missions.
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False
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In the United States, the idea of corporate social responsibility appeared around the start of the 20th century.
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True
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Enlightened self-interest is the idea that the wealthiest members of society should be charitable toward those less fortunate.
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False
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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.
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False
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Laws and regulations help create a level playing field for businesses that compete against one another.
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True
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Businesses that comply with laws and public policies are meeting a minimum level of social responsibility expected by the public.
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True
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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.
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True
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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.
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False
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An argument against corporate social responsibility is that it imposes unequal costs among competitors.
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True
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Corporate power refers to:
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The capability of corporations to influence government, the economy, and society, based on their organizational resources.
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The iron law of responsibility says that:
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In the long run, those who do not use power responsibly will lose it.
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Corporations have a role in establishing their community's:
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Economic Growth
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Which of the following statements is true about corporate social responsibility?
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Both A & C
A) Businesses should monitor and prevent social problems in advance of their becoming major issues.
C) Corporations should be accountable for any actions that affect people, their communities, and the environment.
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Corporate social responsibility (CSR) means that a corporation should:
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Be held accountable for any of its actions that affect people, their communities, and their environment.
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Which of the following companies is being the most socially responsible?
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A company trying its best to operate in a way which will help local students get education and jobs.
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Modern corporations should be socially responsible because they:
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Create jobs, influencing the lives of employees.
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Business leaders, like automaker Henry Ford developed these programs to support the recreational and health needs of their employees
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Paternalistic programs.
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Executive conscience, acts of charity, and philanthropic funding are examples of:
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Corporate social stewardship.
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Philanthropic funding and public relations are two examples of corporate social responsibility:
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Policy instruments of the Corporate Social Stewardship phase.
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Stakeholder partnerships, high-tech communication networks, and sustainability audits are examples of:
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Corporate/Global Citizenship.
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Which of the following is not a driver of the Corporate Social Responsiveness phase of Corporate Social Responsibility?
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Religious/ethnic beliefs.
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All of the following are examples of the phases of Corporate Social Responsibility except:
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Corporate Charity Principle.
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Which of the following examples does not show a company guided by enlightened self-interest?
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A company breaking past records by maximizing quarterly profits.
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Reason(s) for adopting an enlightened self-interest approach is (are):
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- Reasonable short-run costs are incurred, but socially responsible activities are promoted.
- The public's attitude toward the company is positive in the long run.
- The stockholders' pressures for short-run profits are satisfied.
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Scholars have found:
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A positive association between social and financial performance.
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When undertaking social initiatives, a company:
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May sacrifice short-term profits.
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A company who complies with the laws and regulations set by the government is:
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Meeting the minimum level of social responsibility expected by the public.
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Which of the following is an argument in favor of corporate social responsibility?
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Discourages government regulation.
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According to Barlow v. A.P. Smith Manufacturing:
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Socially responsible actions are in investment in the future, thus an allowable expense.
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Positive reputation can be valued as an intangible corporate:
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Asset
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The costs of corporate social responsibility may ultimately be passed on to the:
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Consumer through high prices.
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Which of the following is an argument against corporate social responsibility?
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Requires skills businesses may lack.
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Proponents against corporate social responsibility feel that public officials, not business people, should solve societal problems because:
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Both A & B
- Business people do not have the skill-set to solve societal problems.
- The private sector is not mandated to solve these issues.
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A social enterprise:
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Adopts social benefit as its core mission.
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When a person or group of people identify a social need and use their entrepreneurial skills to address this need, this process is called:
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Social entrepreneurship.
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As of 2012, the B Corporation status has been legally recognized in how many states?
**look at notes to update
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Seven states.
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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:
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Serving the bottom of the pyramid.
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Grameen Bank in Bangladesh is one of the most recognized:
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Microfinance institutions.
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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.
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Microfinancing.
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