Question 1

In the context of the value net model, an individual or organization that makes customers value an organization's output more because of its product or service is known as a(n) _____.

Accepted Answer

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

Question 2

Discuss the four fundamental social responsibilities of a business.

Accepted Answer

The answer of Discuss the four fundamental social responsibilities of...

Question 3

Nick and Juliet work in an online retailing firm in Chicago.Nick believes that a company's primary social responsibility is economic in nature while Juliet believes that its primary responsibility is to contribute to the enhancement of the community in which it operates.Which of the following statements, if true, strengthens Nick's belief?

Accepted Answer

A)  To thrive and grow, a firm must meet its philanthropic responsibilities. 
B)  Economic responsibility can be viewed as an obligation only if we view the firm as a contributing citizen to the communities in which it operates. 
C)  Unless a firm produces profitable products and becomes a sustainable contributor in society, all its other responsibilities fade away. 
D)  To survive a firm must meet its legal and ethical obligations before fulfilling the other obligations.

Question 4

Rended Inc., a publishing house, launches a unique initiative that involves educating children from poor economic backgrounds.For every product that a customer purchases, Rended would contribute $10 toward this cause.Which of the following best exemplifies Rended's initiative?

Accepted Answer

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

Question 5

Emily works as a consultant in a firm that provides consulting and business solutions to global organizations to enhance their productivity and drive corporate performance and value.In the context of the value net model, Emily's firm is most likely to be considered a _____.

Accepted Answer

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

Question 6

Which of the following statements best defines philanthropy?

Accepted Answer

A)  It involves creating new social systems to create large-scale change. 
B)  It involves acting in a way that promotes the good or well-being of others in the form of a gift. 
C)  It involves creating something by combining diverse and different elements into a new setting. 
D)  It involves transferring the ability to effectively perform tasks from one organization to another.

Question 7

Which of the following statements is true of shared values?

Accepted Answer

A)  Profit and social welfare are substitutes that managers must trade off to create shared values. 
B)  Shared values entail transferring the ability to effectively perform tasks from one organization to another. 
C)  Shared values focus on the improvement of both the economic and social welfare of a firm. 
D)  Shared values focus solely on the income and wealth outcomes of an organization.

Question 8

Peter, the founder of MilkWorld Inc., started his dairy company with the intent of creating a formidable supply-chain link and providing a lucrative source of income for the local dairy farmers in his country.Peter is most likely to be considered a(n):

Accepted Answer

A)  venture capitalist. 
B)  investment manager. 
C)  social entrepreneur. 
D)  angel investor.

Question 9

Differentiate between institutional change and capacity building.

Accepted Answer

The answer of Differentiate between institutional change and capacity building....

Question 10

James started a restaurant chain, Foodizza Inc., and specifically hired unemployed youth from the ghettos in the vicinity of his restaurants, thereby providing them with means of livelihood.James is most likely to be considered a(n):

Accepted Answer

A)  investment manager. 
B)  angel investor. 
C)  venture capitalist. 
D)  social entrepreneur.

Question 11

Kevin works for a consulting firm that strictly follows a 40 hours-per-week work schedule as prescribed in the employment terms laid out by the labor tribunal.In this scenario, Kevin's firm is diligently fulfilling its _____.

Accepted Answer

A)  philanthropic responsibilities 
B)  hybrid responsibilities 
C)  legal responsibilities 
D)  superordinate responsibilities

Question 12

_____ means that entrepreneurs strive to change the way people and groups think about problems, and they work to create or change social institutions-from government policies to social values and norms.

Accepted Answer

The answer of _____ means that entrepreneurs strive to change...

Question 13

Linz Inc., a global automobile manufacturing company, exports its automobiles to distributors in seven countries.The manufacturer incurs expenses of $1,000 per car as export duties and diligently pays its duties within the stipulated time frame.In this scenario, Linz is seen fulfilling its _____.

Accepted Answer

A)  philanthropic responsibility 
B)  legal responsibility 
C)  shared responsibility 
D)  ethical responsibility

Question 14

Discuss the four roles played by stakeholders in the value net.

Accepted Answer

The answer of Discuss the four roles played by stakeholders...

Question 15

Ruth works for an electronics manufacturing company, Zeeway Inc., whose employees volunteer over 1 million hours per year on initiatives that include environmental conservation, economic empowerment, and literacy programs.Which of the following best represents Zeeway's initiative?

Accepted Answer

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

Question 16

Elvis works as a dentist at Prince Inc., a premier dentist clinic.The clinic conducts free checkups every month in remote places of the country to create more awareness on good dental hygiene.Which of the following social responsibilities is best reflected in this scenario?

Accepted Answer

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

Question 17

Which of the following examples best represent an in-kind donation?

Accepted Answer

A)  Amanda, a social activist, donates 1/10th of her annual income amount to a retirement home in her locality. 
B)  Stalin, a sales manager at a global consumer electronics firm, contributes $500 in cash toward the medical expenditure of his ailing colleague. 
C)  Nerden Inc., a food-processing unit, donates relief materials to victims of an earthquake in its country of operation. 
D)  Niron Inc., an online retailer, contributes 10% of its annual turnover to adopt model villages.

Question 18

Tracy, an employee of an online retailing firm, is the member of the employee engagement committee in her firm and is entrusted with the task of organizing a cultural event.The proceeds of this cultural event will go toward providing free and affordable healthcare to the backward sections of the community.In this scenario, Tracy's firm is fulfilling its:

Accepted Answer

A)  economic responsibilities. 
B)  philanthropic responsibilities. 
C)  institutional responsibilities. 
D)  legal responsibilities.

Question 19

The ability of an organization to consistently gather resources from, or provide services to, key stakeholders such as donors, volunteers, students, or clients is referred to as _____.

Accepted Answer

The answer of The ability of an organization to consistently...

Question 20

Differentiate between a social bricoleur and a social engineer.

Accepted Answer

The answer of Differentiate between a social bricoleur and a...

Exam 14: Strategy and Society