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BUS 100 Study Guide - Midterm Guide: Corporate Social Responsibility, Ethical Egoism, Virtue Ethics


Department
Business
Course Code
BUS 100
Professor
Brody
Study Guide
Midterm

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Chapter 1 Quiz
1. Corporations that run their operations according to the stakeholder theory of the firm create
value by: Increasing their stock price, developing their employee’s professional skills,
innovating new products
2. Which of the following is NOT an example of stakeholders’ economic power? A social group
protests a government’s decision to raise taxes
3. The five types of stakeholders’ power recognized by most experts are: Voting, economic,
political, legal, and informational power
4. Stakeholder groups can include: Environmental activists, shareholders, business support
groups
5. Customers can exercise economic stakeholder power by: Boycotting products if they believe the
goods are too expensive
6. What stakeholder groups can exercise legal power? Customers, employees, shareholders
7. Which of the following statements is NOT true about the interactive social system? The
boundary between business and society is clear and distinct
8. With the explosive growth of technologies that facilitate the sharing of information, this kind of
stakeholder power has become increasingly important: Informational power
9. What kind of power might a local community use to influence a company’s decisions? Publicizing
an issue, challenging whether a business activity should continue to operate, lobbying
government policy makers for regulations
10. Which statement is NOT correct about the business-society interdependence? Actions by
governments rarely affect business
Chapter 2 Quiz
1. Once an issue has been identified, its implications must be: Analyzed
2. Proactive companies are: Much less likely to be blindsided by crises and negative surprises
3. The drivers of stakeholders of engagement are: Goals, motivation, and operational capacity
4. The explosive use of social media is an example of: Customer environment
5. Once an organization has implemented the issue management program, it must: Study the
results and make necessary adjustments
6. An analysis of the stability of instability of a government is an example of scanning the: Political
environment
7. Because of the risks and opportunities public issues present, organizations need: A systematic
way of identifying, monitoring, and selecting public issues
8. Contemporary issue management: Is an interactive, forward thinking process
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9. Stakeholder engagement is: The process of ongoing relationship building between a business
and its stakeholders
10. Over time, the nature of a business’s relationship with its stakeholders often: Evolves through a
series of stages
Chapter 3 Quiz
1. When a company puts it commitment to social and environmental responsibility into practice
worldwide, not only locally or regionally, it is called: Global Corporate Citizenship
2. Which of the following examples does NOT show a company guided by enlightened self-interest?
A company breaking past records by maximizing quarterly profits
3. The costs of corporate social responsibility may ultimately be passed on to the: Consumer
through high prices
4. Positive reputation can be valued as an intangible corporate: Asset
5. 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
6. Corporate power refers to: The capability of corporations to influence government, the
economy, and society, based on their organization resources
7. Which of the following is an argument against corporate social responsibility? Requires skills
businesses may lack
8. An emerging business model that attempts to strategically balance the interests of all
stakeholders to solve social and environmental problems is called: B corporation
9. Which of the following is an argument in favor of corporation social responsibility? Discourages
government regulation
10. Which of the following is NOT a driver of the Corporate Social Responsiveness phase of
Corporate Social Responsibility? Religious/ethnic beliefs
Chapter 5 Quiz
1. The attitude that characterizes the ethical problem of conflicts of interest is: Help yourself and
those closest to you
2. Ethical relativism is an ethical principle based on: Personal opinions, society’s traditions, special
circumstances of the moment
3. Ethical performance by business protects employees against: Hazardous work conditions
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