Ch.3 Corporate and Social Responsibility & Citizenship

Corporate power refers to:

The capability of corporations to influence government, the economy, and society, based on their organizational resources.

The iron law of responsibility says that:

In the long run, those who do not use power responsibly will lose it.

Corporations have a role in establishing their community’s:

Economic growth.

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

Businesses should monitor and prevent social problems in advance of their becoming major issues and Corporations should be accountable for any actions that affect people, their communities, and the environment.

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

Be held accountable for any of its actions that affect people, their communities, and their environment.

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

A company trying its best to operate in a way which will help local students get education and jobs.

Modern corporations should be socially responsible because they:

Create jobs, influencing the lives of employees.

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

Paternalistic programs.

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

Corporate social stewardship.

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

Policy instruments of the Corporate Social Stewardship phase.

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

Corporate/Global Citizenship.

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

Religious/ethnic beliefs.

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

Corporate Charity Principle.

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

A company breaking past records by maximizing quarterly profits.

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

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

Scholars have found:

A positive association between social and financial performance.

When undertaking social initiatives, a company:

May sacrifice short-term profits.

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

Meeting the minimum level of social responsibility expected by the public.

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

Discourages government regulation.

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

Socially responsible actions are in investment in the future, thus an allowable expense.

Positive reputation can be valued as an intangible corporate:

Asset.

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

Consumer through high prices.

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

Requires skills businesses may lack.

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

Business people do not have the skill-set to solve societal problems. and The private sector is not mandated to solve these issues.

A social enterprise:

Adopts social benefit as its core mission.

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

B. Social entrepreneurship.

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

Seven states.

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:

Serving the bottom of the pyramid.

Grameen Bank in Bangladesh is one of the most recognized:

Microfinance institutions.

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.

Microfinancing