Exam 5: Corporate Social Responsibility

Which of the following models of corporate social responsibility considers business a citizen of the society that it operates in?

Stakeholder theory states that a firm should be managed for the sole benefit of stockholders.

In the _____ model of corporate social responsibility, social goals are brought into the core of a firm's business model, and economic goals are balanced against social goals.

_____ is generally referred to as the responsibilities that a business has to the society in which it operates.

The economic model is a narrow view of CSR. What are the alternative broader models of CSR?

A firm that is environmentally unsustainable is also a firm that is, in the long-term, financially unsustainable.

Stakeholder theory recognizes the fact that every business decision affects a wide variety of people, benefiting some and imposing costs on others.

According to the philosopher Norman Bowie, the contractual duty that managers have to stockholder-owners:

Legislators created a form of business called corporations because they thought that businesses could be more efficient in raising the capital necessary for producing goods, services, jobs, and wealth if:

Corporate managers who fail to give due consideration to the rights of employees and other concerned groups in the pursuit of profit are treating these groups as means to the ends of stockholders. This is unjust according to the ____.

According to David Vogel, investing in CSR when consumers are not willing to pay higher prices to support that investment improves the profit levels of the firm.

Which of the following best describes corporate social responsibility?

How can corporations encourage people to engage in business activities?

The practice of attending to the "image" of a firm is referred to as:

Stakeholder theory is an example of the:

The sustainability version of corporate social responsibility suggests that the long-term financial well-being of every firm is directly tied to questions of how the firm both affects and is affected by the natural environment.

Philosopher Norman Bowie identifies his approach as a ____ theory of business ethics.

In the philanthropic model of CSR, situations where a business supports a social cause for the purpose of receiving a business benefit in return are not much different from:

A firm that balances its social goals against economic goals and does justice to both is said to follow the:

_____ theory argues that the narrow economic model fails both as an accurate descriptive and as a reasonable normative account of business management.