Question 1

_____ argued that, although profits are required for business, profit is not the primary purpose of business.

Accepted Answer

A)  Adam Smith 
B)  Theodore Levitt 
C)  Norman Bowie 
D)  Herman Miller 
E)  Milton Friedman 
A)  Adam Smith 
B)  Theodore Levitt 
C)  Norman Bowie 
D)  Herman Miller 
E)  Milton Friedman

Question 2

Which economist espoused a kind of Darwinian or "wild west" version of capitalism?

Accepted Answer

A)  Adam Smith 
B)  Theodore Levitt 
C)  Norman Bowie 
D)  Herman Miller 
E)  Milton Friedman 
A)  Adam Smith 
B)  Theodore Levitt 
C)  Norman Bowie 
D)  Herman Miller 
E)  Milton Friedman

Question 3

Discuss the difference between primary and secondary stakeholders in the stakeholder interaction model and give examples for each type.

Accepted Answer

The answer of Discuss the difference between primary and secondary...

Question 4

The originator of the idea of the invisible hand, which is a fundamental concept in free market capitalism, was

Accepted Answer

A)  Adam Smith. 
B)  Theodore Levitt. 
C)  Norman Bowie. 
D)  Herman Miller 
E)  Milton Friedman. 
A)  Adam Smith. 
B)  Theodore Levitt. 
C)  Norman Bowie. 
D)  Herman Miller 
E)  Milton Friedman.

Question 5

Which ISO guideline pertains to environmental regulation standards and was designed to help reduce a firm's pollution, waste, and carbon footprint?

Accepted Answer

A)  ISO 3000 
B)  ISO 2000 
C)  ISO 265000 
D)  ISO 26000 
E)  ISO 14000 
A)  ISO 3000 
B)  ISO 2000 
C)  ISO 265000 
D)  ISO 26000 
E)  ISO 14000

Question 6

Which of the following is not associated with the stakeholder interaction model?

Accepted Answer

A)  Involves a two-way relationship between firm and stakeholders 
B)  Recognizes the input of investors, employees, and suppliers 
C)  Explicitly acknowledges dialogue with a firm's internal environment 
D)  Explicitly acknowledges dialogue with a firm's external environment 
E)  Identifies the mass media, special interest groups, competitors, and trade associations as primary stakeholders 
A)  Involves a two-way relationship between firm and stakeholders 
B)  Recognizes the input of investors, employees, and suppliers 
C)  Explicitly acknowledges dialogue with a firm's internal environment 
D)  Explicitly acknowledges dialogue with a firm's external environment 
E)  Identifies the mass media, special interest groups, competitors, and trade associations as primary stakeholders

Question 7

Those who have a claim in some aspect of a firm's products, operations, markets, industry, and outcomes are known as

Accepted Answer

A)  shareholders. 
B)  stockholders. 
C)  stakeholders. 
D)  claimholders. 
E)  special-interest groups. 
A)  shareholders. 
B)  stockholders. 
C)  stakeholders. 
D)  claimholders. 
E)  special-interest groups.

Question 8

Which of the following are not typically secondary stakeholders?

Accepted Answer

A)  Television news anchors 
B)  Special-interest groups 
C)  Customers 
D)  Trade associations 
E)  Journalists 
A)  Television news anchors 
B)  Special-interest groups 
C)  Customers 
D)  Trade associations 
E)  Journalists

Question 9

The degree to which a firm understands and addresses stakeholder demands can be referred to as

Accepted Answer

A)  a stakeholder orientation. 
B)  a shareholder orientation. 
C)  the stakeholder interaction model. 
D)  a two-way street. 
E)  a continuum. 
A)  a stakeholder orientation. 
B)  a shareholder orientation. 
C)  the stakeholder interaction model. 
D)  a two-way street. 
E)  a continuum.

Question 10

Minimizing the use of energy and reducing emissions and waste are issues of importance to which stakeholder?

Accepted Answer

A)  Environmental groups 
B)  Suppliers 
C)  Employees 
D)  Industry leaders 
E)  Investors 
A)  Environmental groups 
B)  Suppliers 
C)  Employees 
D)  Industry leaders 
E)  Investors

Question 11

Why do critics argue that high compensation for boards of directors is a bad thing?

Accepted Answer

A)  It is too expensive for the organization. 
B)  It could cause conflicts of interest between the directors and the organization. 
C)  It is not fair to poorly compensated employees. 
D)  High pay will render the board less complacent. 
E)  Board of director compensation is not a major issue. 
A)  It is too expensive for the organization. 
B)  It could cause conflicts of interest between the directors and the organization. 
C)  It is not fair to poorly compensated employees. 
D)  High pay will render the board less complacent. 
E)  Board of director compensation is not a major issue.

Question 12

Which of the following is not a benefit that primary stakeholders tend to provide to organizations?

Accepted Answer

A)  Supplies of capital and resources. 
B)  Expertise and leadership 
C)  Word-of-mouth promotion 
D)  Infrastructure 
E)  Pro-bono bookkeeping 
A)  Supplies of capital and resources. 
B)  Expertise and leadership 
C)  Word-of-mouth promotion 
D)  Infrastructure 
E)  Pro-bono bookkeeping

Question 13

The first of the three activities that are associated with the stakeholder orientation is the

Accepted Answer

A)  organization-wide generation of data. 
B)  organization's responsiveness to intelligence. 
C)  set of consumer attributes identified. 
D)  organizational strategy of target markets. 
E)  human relations department's set of priorities. 
A)  organization-wide generation of data. 
B)  organization's responsiveness to intelligence. 
C)  set of consumer attributes identified. 
D)  organizational strategy of target markets. 
E)  human relations department's set of priorities.

Question 14

Which of the following is not a method typically employed by firms when researching relevant stakeholder groups?

Accepted Answer

A)  Surveys 
B)  Focus groups 
C)  Internet searches 
D)  Press reviews 
E)  Guessing 
A)  Surveys 
B)  Focus groups 
C)  Internet searches 
D)  Press reviews 
E)  Guessing

Question 15

Why were the International Organization for Standardization (ISO) 26000 guidelines established?

Accepted Answer

A)  To promote a common understanding in the area of social responsibility. 
B)  To provide organizations with another social responsibility certification. 
C)  To educate organizations. 
D)  To help organizations look good to stakeholders. 
E)  To establish international environmental standards. 
A)  To promote a common understanding in the area of social responsibility. 
B)  To provide organizations with another social responsibility certification. 
C)  To educate organizations. 
D)  To help organizations look good to stakeholders. 
E)  To establish international environmental standards.

Question 16

Which of the following are not typically primary stakeholders?

Accepted Answer

A)  Customers 
B)  Trade associations 
C)  Employees 
D)  Shareholders 
E)  Investors 
A)  Customers 
B)  Trade associations 
C)  Employees 
D)  Shareholders 
E)  Investors

Question 17

A description of corporate social responsibility should include a list of all of the following except

Accepted Answer

A)  corporate rights. 
B)  corporate duties. 
C)  environmentally friendly activities. 
D)  consequences. 
E)  values. 
A)  corporate rights. 
B)  corporate duties. 
C)  environmentally friendly activities. 
D)  consequences. 
E)  values.

Question 18

Accountability, oversight, and control all fall under the definition and implementation of corporate

Accepted Answer

A)  profit. 
B)  loyalty. 
C)  care. 
D)  governance. 
E)  diligence. 
A)  profit. 
B)  loyalty. 
C)  care. 
D)  governance. 
E)  diligence.

Question 19

Which of the following industries tends to generate a high level of trust from consumers and stakeholders?

Accepted Answer

A)  Insurance 
B)  Technology 
C)  Banks 
D)  Mortgage lenders 
E)  Financial services 
A)  Insurance 
B)  Technology 
C)  Banks 
D)  Mortgage lenders 
E)  Financial services

Question 20

Major corporate governance issues normally involve _____ decisions. (Choose the response that is most correct)

Accepted Answer

A)  strategic-level 
B)  tactical-level 
C)  divisional-level 
D)  marketing-level 
E)  accounting-level 
A)  strategic-level 
B)  tactical-level 
C)  divisional-level 
D)  marketing-level 
E)  accounting-level

_____ argued that, although profits are required for business, profit is not the primary purpose of business.

Which economist espoused a kind of Darwinian or "wild west" version of capitalism?

Discuss the difference between primary and secondary stakeholders in the stakeholder interaction model and give examples for each type.

The originator of the idea of the invisible hand, which is a fundamental concept in free market capitalism, was

Which ISO guideline pertains to environmental regulation standards and was designed to help reduce a firm's pollution, waste, and carbon footprint?

Which of the following is not associated with the stakeholder interaction model?

Those who have a claim in some aspect of a firm's products, operations, markets, industry, and outcomes are known as

Which of the following are not typically secondary stakeholders?

The degree to which a firm understands and addresses stakeholder demands can be referred to as

Minimizing the use of energy and reducing emissions and waste are issues of importance to which stakeholder?

Why do critics argue that high compensation for boards of directors is a bad thing?

Which of the following is not a benefit that primary stakeholders tend to provide to organizations?

The first of the three activities that are associated with the stakeholder orientation is the

Which of the following is not a method typically employed by firms when researching relevant stakeholder groups?

Why were the International Organization for Standardization (ISO) 26000 guidelines established?

Which of the following are not typically primary stakeholders?

A description of corporate social responsibility should include a list of all of the following except

Accountability, oversight, and control all fall under the definition and implementation of corporate

Which of the following industries tends to generate a high level of trust from consumers and stakeholders?

Major corporate governance issues normally involve _____ decisions. (Choose the response that is most correct)

The Importance of Business Ethics

Emerging Business Ethics Issues

The Institutionalization of Business Ethics

Ethical Decision Making and Ethical Leadership

Individual Factors: Moral Philosophies and Values

Organizational Factors: the Role of Ethical Culture and Relationships

Developing an Effective Ethics Program

Managing and Controlling Ethics Programs

Globalization of Ethical Decision Making

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Exam 2: Stakeholder Relationships, Social Responsibility, and Corporate Governance

_____ argued that, although profits are required for business, profit is not the primary purpose of business.

Which economist espoused a kind of Darwinian or "wild west" version of capitalism?

Discuss the difference between primary and secondary stakeholders in the stakeholder interaction model and give examples for each type.

The originator of the idea of the invisible hand, which is a fundamental concept in free market capitalism, was

Which ISO guideline pertains to environmental regulation standards and was designed to help reduce a firm's pollution, waste, and carbon footprint?

Which of the following is not associated with the stakeholder interaction model?

Those who have a claim in some aspect of a firm's products, operations, markets, industry, and outcomes are known as

Which of the following are not typically secondary stakeholders?

The degree to which a firm understands and addresses stakeholder demands can be referred to as

Minimizing the use of energy and reducing emissions and waste are issues of importance to which stakeholder?

Why do critics argue that high compensation for boards of directors is a bad thing?

Which of the following is not a benefit that primary stakeholders tend to provide to organizations?

The first of the three activities that are associated with the stakeholder orientation is the

Which of the following is not a method typically employed by firms when researching relevant stakeholder groups?

Why were the International Organization for Standardization (ISO) 26000 guidelines established?

Which of the following are not typically primary stakeholders?

A description of corporate social responsibility should include a list of all of the following except

Accountability, oversight, and control all fall under the definition and implementation of corporate

Which of the following industries tends to generate a high level of trust from consumers and stakeholders?

Major corporate governance issues normally involve _____ decisions. (Choose the response that is most correct)

The Importance of Business Ethics

Emerging Business Ethics Issues

The Institutionalization of Business Ethics

Ethical Decision Making and Ethical Leadership

Individual Factors: Moral Philosophies and Values

Organizational Factors: the Role of Ethical Culture and Relationships

Developing an Effective Ethics Program

Managing and Controlling Ethics Programs

Globalization of Ethical Decision Making

Filters