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Question
What is the modern textbook role of business and its managers?
(A) The role of business is to make profits for shareholders. The role of managers is to maximize profits.
(B) The role of business is to make products. The role of managers is select products that will maximize profits.
(C) The role of business is to create value for stakeholders, who are affected by the business and can affect firm performance. The role of managers is to integrate market and nonmarket environmental strategies ethically to create value for stakeholders.
(D) The role of business is to create jobs. The role of managers is to select the best employees.
(E) None of these are correct.
Answer
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Related questions
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The _________ is the prevention of solar heat absorbed by the atmosphere from returning to space, creating global warming and climate change problems.
(A) greenhouse effect
(B) oxygen depletion effect
(C) pollution constant
(D) big hole
(E) strangulation effect
Q:
The U.S. National ________ requires all federal agencies to prepare environmental impact statements for any proposals for legislation and other major federal action that would affect the quality of the human environment.
(A) Ozone Protection Act
(B) Environmental Policy Act
(C) Clean Air Act
(D) Impact Study Act
(E) Environmental Disaster Prevention Act
Q:
The best privacy policies include "opt-in" policy that requires the firm to notify the customer of how the information is being used.
(A) True
(B) False
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The new industry of biotechnology has created great entrepreneurial business opportunities for health care, pharmaceutical, and agriculture firms to profitably increase our natural lifespan.
(A) True
(B) False
Q:
________ is meeting the needs of today without sacrificing future generations' ability to meet their needs.
(A) Degradation
(B) Environmental Scrutiny
(C) Long-range viability
(D) Sustainability
(E) Technology development
Q:
______ is the government's ability to take private property for government use.
(A) Community involvement
(B) Corporate stewardship
(C) Corporate interaction
(D) Government intervention
(E) Eminent domain
Q:
Advocacy stories support a position or course of action; they are commonly editorials.
(A) True
(B) False
Q:
The role of the community relations department is to interact with community citizens and the news media, to develop community involvement programs, and to work with local governments.
(A) True
(B) False
Q:
The Worker Adjustment and Retraining Notification Act (WARN) protects communities by requiring employers to provide notification 10 calendar days in advance of plant closings and mass layoffs.
(A) True
(B) False
Q:
Which of the following are roles for the media?
(A) Business groups never complain about the media because they know that it is always fair and unbiased.
(B) The media provide information for those in the market and nonmarket environment so that people know what is going on in the world, primarily so that business, society and government can make better decisions.
(C) Factual stories report on why the story is important and what implications it has on society.
(D) The media shape individual attitudes and values about issues that result in public sentiment.
(E) The media are used to develop nonmarket issue agendas so that business, society and government can determine which issues they will pursue.
Q:
Which of the following are elements of the business-community relationship?
(A) Community power
(B) Eminent domain
(C) Layoffs and plant closings
(D) Corporate social responsibility
(E) International treaties
Q:
Which statement best describes the product liability litigation process and the parties involved?
(A) Product liability litigation is the process of a business (offendant) filing a lawsuit against a firm (defendant) to be compensated for harm resulting from defective products.
(B) Product liability litigation is the process of a consumer (offendant) filing a lawsuit against a firm (defendant) to be compensated for harm resulting from defective products.
(C) Product liability litigation is the process of a consumer (plaintiff) filing a lawsuit against a firm (defendant) to be compensated for harm resulting from defective products or business actions.
(D) Product liability litigation is the process of a consumer (plaintiff) filing a lawsuit against a firm (defendant) to be compensated for harm resulting from defective products but not from business actions.
(E) Product liability litigation is the process of a consumer (plaintiff) filing a lawsuit against a firm (defendant) through the federal court system to be compensated for harm resulting from defective products.
Q:
A ________ is a contract in which the seller guarantees the integrity of the product, and the buyer is entitled to compensation for any consequent harm.
(A) product
(B) collaboration
(C) consumer right
(D) liability
(E) warranty
Q:
_________ contend that morals can change based on time, the circumstances of the situation, and personal opinion.
(A) Relativism ethics
(B) Global ethics
(C) Universal ethics
(D) Executive ethics
(E) Utilitarian ethics
Q:
Explain the relationship between business ethics and ethical dilemmas.
Q:
The _______ deals with the global rules of trade between member nations and ensures smooth and predictable operations.
(A) World Health Organization
(B) International Trade Commission
(C) World Trade Organization
(D) United Federation of Free Markets
(E) Global Business Group
Q:
A _______ is a combination of a company with another company in an unrelated industry.
(A) flat takeover
(B) hostile takeover
(C) conglomerate merger
(D) horizontal merger
(E) vertical merger
Q:
________occur when one company does not want to be acquired.
(A) Acquisition under duress
(B) Hostile takeovers
(C) Merger
(D) Integrated market merger.
(E) Vertical merger
Q:
Which of the following is not the objectives of the antitrust laws?
(A) To protect competition.
(B) To protect consumers.
(C) To encourage domination of one company over another.
(D) To protect small business from large businesses.
(E) To prevent predatory pricing.
Q:
The Supreme Court can overturn statutes passed by Congress.
(A) True
(B) False
Q:
Large companies are required by law to file a Premerger Notification and Report Form with the DOJ and FTC of proposed mergers.
(A) True
(B) False
Q:
When a company merges with another company, moving away from the customer, it makes a forward vertical merger.
(A) True
(B) False
Q:
What are three types of lawsuits?
Q:
What is the first thing the DOJ and FTC do when investigating mergers?
Q:
Some practices are not technically illegal, but they can become illegal when the intent is to restrain trade and create a monopoly. Therefore, these practices are subject to antitrust scrutiny. Discuss five of these practices.
Q:
Which statement about the legislative stage business should focus on to influence lawmaking and who should be the strategic focus is not correct?
(A) Business focuses on the floor action stage private voting members.
(B) Business focuses on the conference action stage pivotal voting members.
(C) Business focuses on the conference action stage majority voting members.
(D) Business focuses on the committee action stage pivotal voting members.
(E) Business does not focus on any part of the government process.
Q:
A bill can be stopped at any stage of the process, and one tactic used to delay or stop a vote is the ________.
(A) committee breaker
(B) stopping action
(C) pivotal voting
(D) filibuster
(E) framing
Q:
Proper communication can help to maintain a positive company and brand reputation.
(A) True
(B) False
Q:
Issues management is used to anticipate and respond to both threats and opportunities.
(A) True
(B) False
Q:
Firms that are less likely to be active in PA management are those that are significantly affected by government.
(A) True
(B) False