Question 1

_____ refers to the simultaneous creation of economic value and social value for the larger community in which a business operates.

Accepted Answer

Shared value

Question 2

JustHog Inc.and FoodLite Inc.are major fast food chains.They attract a larger share of the fast food market due to their quality, prompt service, and affordability.Due to the recent marketing initiatives of JustHog, FoodLite experienced a drop in its market share.In the context of the value net model, which of the following best represents the relationship between JustHog and FoodLite?

Accepted Answer

A)   Competitors
B)   Customers
C)   Suppliers
D)   Complementors A

Question 3

Jude works for a food-processing unit that sells processed food at rates as low as 25% of its selling price to orphanages, old-age homes, missionaries, and charitable institutions.Jude's organization can be classified as a(n) _____.

Accepted Answer

A)   incremental organization
B)   transactional organization
C)   hybrid organization
D)   traditional organization C

Question 4

_____ refers to a social entrepreneur who creates something new through the combination of diverse and different elements.

Accepted Answer

The answer of _____ refers to a social entrepreneur who...

Question 5

Foodoid Inc., a fast food restaurant, enters into a tie-up with SimplyBake Inc., a bakery chain, to procure croissants, garlic loafs, and other essential food ingredients.In the context of the value net model, SimplyBake assumes the role of a(n) _____.

Accepted Answer

A)   principal investor
B)   competitor
C)   complementor
D)   franchisor

Question 6

Softlink Inc., a global computer software company, is involved in unique development initiatives in low-income countries.As part of this program, it developed model villages in a low-income country to ensure self-reliance in healthcare, infrastructure, and employment.In this scenario, which of the following best exemplifies Softlink's initiative?

Accepted Answer

A)   Corporate social responsibility
B)   Competitor response strategy
C)   Strategic alliance
D)   Incremental innovation

Question 7

Walter Inc., an engineering firm, follows stringent rules related to safety such as wearing helmets, sporting safety goggles, and dust masks while working on-site.In this scenario, which of the following responsibilities is fulfilled by Walter?

Accepted Answer

A)   Hybrid responsibility
B)   Ethical responsibility
C)   Philanthropic responsibility
D)   Economic responsibility

Question 8

Which of the following statements is true of the value net model?

Accepted Answer

A)   It describes how an organization interacts with others in its environment to create value.
B)   It treats a particular stakeholder as a "single-role player" to facilitate effective decision making.
C)   It typically focuses on large-scale social problems that have proven difficult for governments or other social actors to solve.
D)   It focuses on improving the value of each of the stakeholders in a value chain by assigning them rigid goals and tasks.

Question 9

Robin, a social entrepreneur, founded the Center of Business Excellence, a not-profit organization, and Fydil Investments Inc., a profit-oriented firm.Robin's motive is to provide a focused solution to poverty by helping the poor with a desire to succeed at business.His knowledge and expertise gathered over the years from working on different assignments ensured sustainability of the new ventures.Which of the following types of entrepreneurship corresponds to the skill sets of Robin?

Accepted Answer

A)   Sustainable stakeholder
B)   Social bricoleur
C)   Philanthropist
D)   Competitor

Question 10

Inde Air Inc., a major airline, launches promotional schemes at regular intervals to increase its market share and counter the schemes launched by another airline, FlySky Inc.In the context of the value net model, which of the following best represents the relationship between Inde Air and FlySky?

Accepted Answer

A)   Suppliers
B)   Competitors
C)   Complementors
D)   Principal investors

Question 11

_____entails transferring the ability to effectively perform tasks from one organization to another.

Accepted Answer

The answer of _____entails transferring the ability to effectively perform...

Question 12

Discuss the role of a social entrepreneur in the creation of shared value.

Accepted Answer

The answer of Discuss the role of a social entrepreneur...

Question 13

Jason, a visually impaired employee of Melony Inc., believes that his workplace has given him independence and self-confidence, thereby increasing his morale.Which of the following has been exemplified by Melony in this scenario?

Accepted Answer

A)   Legal responsibility
B)   Social value
C)   Superordinate goal
D)   Capacity building

Question 14

Which of the following describes those living in conditions of extreme poverty around the world, usually defined as less than $2 per day?

Accepted Answer

A)   Line of sight
B)   Value net
C)   Backward integration
D)   Base of the pyramid

Question 15

John works for Roth Inc., a mining firm, which strictly adheres to the employment rules as prescribed by the labor commission.The firm employs individuals only above the age of 23 for occupations that could pose safety hazards.In this scenario, which of the following social responsibilities is fulfilled by Roth?

Accepted Answer

A)   Philanthropic responsibility
B)   Economic responsibility
C)   Legal responsibility
D)   Superordinate responsibility

Question 16

Which of the following social responsibilities implies that a firm has an obligation to give back in some way and contribute to strengthening the fabric of its local communities, as well as the larger society?

Accepted Answer

A)   Legal responsibility
B)   Philanthropic responsibility
C)   Ethical responsibility
D)   Economic responsibility

Question 17

Tim buys a new car to gift his son for his birthday.In the context of the value net model, Tim is most likely to be considered a:

Accepted Answer

A)   competitor.
B)   customer.
C)   strategic supplier.
D)   complementor.

Question 18

Gama Inc., a cell phone manufacturer, procures lithium batteries from Zipcharge Inc.These batteries are used in the smart phones manufactured by Gama.In the context of the value net model, Gama is most likely to be considered a _____.

Accepted Answer

A)   supplier
B)   competitor
C)   principal
D)   customer

Question 19

Katie works for an electronics manufacturing company that contributes 10% of employees' performance-linked bonuses toward the education of children with autism.Which of the following social responsibilities is best reflected in this scenario?

Accepted Answer

A)   Economic responsibility
B)   Legal responsibility
C)   Hybrid responsibility
D)   Philanthropic responsibility

Question 20

George Inc., a construction firm, bags a multibillion dollar deal from the federal government for the purpose of infrastructural development.This deal resulted in a sustainable stakeholder advantage and an increase in the firm's annual turnover.Which of the following best describes the social obligation exemplified by George in this scenario?

Accepted Answer

A)   Philanthropic responsibilities
B)   Ethical responsibilities
C)   Economic responsibilities
D)   Legal responsibilities

Exam 14: Strategy and Society