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Business Ethics
Q:
A shareholder rights plan aimed at discouraging or preventing a hostile takeover is known as
A.a poison pill.
B.golden handcuffs.
C.a golden parachute.
D.insider trading.
Q:
The board's compensation committee has responsibility for
A.setting directors' pay scales.
B.making sure that all employees are paid a fair wage.
C.evaluating executive performance and recommending terms and conditions of employment.
D.determining what bonuses should be paid and to whom.
Q:
A major criticism of CEOs and boards during the 1980s, when corporate takeovers were regular occurrences, was
A.not trying to get the best price they could for shareholders.
B.focusing on "making deals" instead of running the business.
C.trying to run up the price of their company's stock in preparation for the sale.
D.being obsessed with self-preservation instead of making optimal decisions on behalf of shareholders.
Q:
Compensation recovery mechanisms that enable a company to recoup compensation funds is called ____.
A.proxy process.
B.risk arbitrage.
C.golden parachutes.
D.clawback provisions.
Q:
The Say on Pay movement:
A.First began with regulations including a requirement to put a remuneration report to a shareholder vote
B.Began in the United States
C.Evolved from concerns over low executive compensation
D.Is supported by the SEC
Q:
When the interests of management and owners are not aligned, there will likely be a(n)
A.agency problem.
B.free agency dilemma.
C.shareholder rebellion.
D.shareholder resolution.
Q:
Executive Excess reports that in 2009 the ratio of CEO pay to average workers' pay was
A.620 to 1.
B.319 to 1.
C.1,063 to 1.
D.18 to 1.
Q:
The method by which shareholders elect boards of directors is known as
A.distributive voting.
B.cumulative voting.
C.the proxy process.
D.direct balloting.
Q:
Directors who have no ties to the firm other than membership on the board are called
A.dependent directors.
B.free agent directors.
C.inside directors.
D.outside directors.
Q:
Employees are the people hired by the company to
A.oversee management.
B.work with the board to keep management in line.
C.do the actual work of operating the company.
D.set the course for the company to follow.
Q:
Directors who have some sort of ties to the firm are termed
A.dependent directors.
B.independent directors.
C.inside directors.
D.outside directors.
Q:
The people hired by the board to run the company and operate it on a daily basis is
A.the employee council.
B.management.
C.administration.
D.headquarters.
Q:
Boards have recently improved in all of the following ways except
A.more directors are independent.
B.reducing executive pay.
C.more directors own stock in the company.
D.more boards are likely to demand change.
Q:
The group that is elected by shareholders to govern and oversee management is the
A.investment council.
B.board of directors.
C.board of trustees.
D.governing council.
Q:
Shareholders are
A.owners of the corporation.
B.creditors of the corporation.
C.anyone who is affected by the corporation.
D.also employees of the corporation.
Q:
The state-issued document that grants the corporation's right to exist and stipulating the basic terms of its existence is a(n)
A.certificate of legitimacy.
B.occupancy permit.
C.charter.
D.article of incorporation.
Q:
Some analysts believe that business's social legitimacy is fragile.
Q:
The method by which a firm is being governed, directed, administered, or controlled is
A.corporate governance.
B.management.
C.management by objectives.
D.management by decree.
Q:
Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
This chapter of the textbook has made a strong case for the use of stakeholder management. Discuss reasons why firms may choose not to utilize this model.
Q:
Which of the following is not a method of obtaining the micro level of legitimacy?
A.A company adapts its operations to conform to prevailing standards.
B.A company may seek to avoid detection that it is operating contrary to social norms.
C.A company may attempt to changes the public's values and norms.
D.A company may identify itself with other organization, people, or values.
Q:
Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
Stakeholder management, with its normative content, holds out the promise of positive outcomes to the firms that use it. Discuss some of these expected outcomes and evaluate their likelihood of occurrence and their importance to the firm.
Q:
The macro level of legitimacy refers to the achievement and maintenance of legitimacy by
A.government.
B.private/public partnerships.
C.business as a whole.
D.individual businesses.
Q:
Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
Stakeholder management does not specify how managers should view the function of stakeholders. Some view stakeholders as just additional groups to be managed for the benefit of the firm and its owners. Others view stakeholders as groups to whom the firm has certain responsibilities that are equally important to duties owed to owners. Discuss this issue and defend your stance.
Q:
The micro level of legitimacy refers to achieving and maintaining legitimacy by conforming to societal expectations for
A.the business system as a whole.
B.public policy partnerships.
C.non-government organizations.
D.individual businesses.
Q:
Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
Q:
Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
Q:
Provide a short answer to each of these questions. Be sure to fully explain your answer.Discuss how PETA is making itself a stakeholder in the wool industry.
Q:
Provide a short answer to each of these questions. Be sure to fully explain your answer.
Summarize the principles of stakeholder management.
Q:
The degree to which a stakeholder's claim requires immediate response is its
A.power.
B.legitimacy.
C.urgency.
D.coercion.
Q:
Provide a short answer to each of these questions. Be sure to fully explain your answer.
Describe the levels of stakeholder management capability.
Q:
A stakeholder's ability or capacity to produce an effect within the firm is called its
A.power.
B.legitimacy.
C.urgency.
D.coercion.
Q:
Provide a short answer to each of these questions. Be sure to fully explain your answer.
Explain what the concept of tapping the expertise of stakeholders means.
Q:
The perceived validity or appropriateness of a stakeholder's claim is referred to as
A.power.
B.legitimacy.
C.urgency.
D.coercion.
Q:
Which of the following is not an attribute upon which managers judge the importance of stakeholders?
A.power
B.urgency
C.legitimacy
D.nationality
Q:
Provide a short answer to each of these questions. Be sure to fully explain your answer.
The diagnostic typology of organizational stakeholders categorizes stakeholders by their perceived level of cooperation and/or threat. Explain how this typology works and evaluate its usefulness.
Q:
If we consider the stakeholder typology, and the three attributes of power, group number one on the top outside is called:
A.A dormant stakeholder
B.A dangerous stakeholder
C.A demanding stakeholder
D.A nonstakeholder
Q:
If we consider the stakeholder typology, and the three attributes of power, group number eight on the outside is called:
A.A definitive stakeholder
B.A dangerous stakeholder
C.A demanding stakeholder
D.A nonstakeholder
Q:
If we consider the stakeholder typology, and the three attributes of power, group number seven in the very center is called:
A.A definitive stakeholder
B.A dormant stakeholder
C.A dependent stakeholder
D.A discretionary stakeholder
Q:
Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
Which of the three bottom lines encompassed by the Triple Bottom Line do you consider most important? Explain your answer.
Q:
A group of people who represents the interests of a nonhuman species (such as the natural environment) and does not have a direct stake in the firm is known as
A.primary social stakeholders.
B.secondary social stakeholders.
C.primary nonsocial stakeholders.
D.secondary nonsocial stakeholders.
Q:
Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
Are the awards described in the textbook effective ways of promoting the idea of corporate social performance? Why or why not?
Q:
A nonhuman species (such as the spotted owl) that holds a direct stake in a firm is called a
A.primary social stakeholder.
B.secondary social stakeholder.
C.primary nonsocial stakeholder.
D.secondary nonsocial stakeholder.
Q:
Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
The primary argument for corporate social responsibility states that for business to have a healthy climate in which to operate in the future, it must take current action to assure its long-term viability. Is this long-range self-interest argument valid? Does it encompass all that society wants from business?
Q:
A group of people who is able to influence the firm, but does not hold a direct stake in is known as
A.primary social stakeholders.
B.secondary social stakeholders.
C.primary nonsocial stakeholders.
D.secondary nonsocial stakeholders.
Q:
Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
The Generous Corporation argues that corporations began their philanthropic activities primarily out of self-interest. By doing so, they are able to keep government from intervening in their business activities and imposing more regulations on them. Assuming that this argument is valid, and the firms' motives are primarily self interested, evaluate whether or not the motives are important. That is, are firms' philanthropic activities less valuable because they are motivated by self interest? Explain your answer.
Q:
A group of people who holds a direct stake in the firm is known as
A.primary social stakeholders.
B.secondary social stakeholders.
C.primary nonsocial stakeholders.
D.secondary nonsocial stakeholders.
Q:
Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it.
Distinguish between the concepts of corporate social responsibility, corporate social responsiveness, corporate social performance, and corporate citizenship. How are these ideas different from each other? How are they similar?
Q:
Provide a short answer to each of these questions. Be sure to fully explain your answer.
Describe socially responsible investing.
Q:
Provide a short answer to each of these questions. Be sure to fully explain your answer.
Explain the concept of "multiple bottom lines." Why do advocates of this approach prefer it over the traditional method of measuring the firm's financial performance?
Q:
Provide a short answer to each of these questions. Be sure to fully explain your answer.
One of the arguments that opponents of corporate social responsibility use is that business already has enough power, so society should not grant it more power by relying on it to alleviate social problems. Evaluate this argument.
Q:
Provide a short answer to each of these questions. Be sure to fully explain your answer.
Discuss the criteria used to determine what firms receive the Business Ethics magazine awards. Which do you think is most important? Why?
Q:
Provide a short answer to each of these questions. Be sure to fully explain your answer.
In Carroll's four-part definition of corporate social responsibility, he includes philanthropic responsibilities, yet he describes these as voluntary or discretionary. Explain this seeming contrast between a responsibility and a voluntary activity.
Q:
Provide a short answer to each of these questions. Be sure to fully explain your answer.
Summarize the argument used to explain why the concept of corporate social responsiveness is an improvement over corporate social responsibility.
Q:
Provide a short answer to each of these questions. Be sure to fully explain your answer.
Explain why the emergence of large corporations in the late 19th century helped shift society's view away from the classical economic view.
Q:
Provide a short answer to each of these questions. Be sure to fully explain your answer.
In the 1890s, the Robber Barons began to use their personal wealth and the wealth accumulated by their corporations to enhance the social good. Their philanthropic activities were encouraged, in part, because public opinion was demanding that the government do something to limit their power. Is this type of activity still occurring in the United States? Why or why not?
Q:
Provide a short answer to each of these questions. Be sure to fully explain your answer.
Explain why Business for Social Responsibility (BSR) was formed.
Q:
Provide a short answer to each of these questions. Be sure to fully explain your answer.
One of the arguments against corporate social responsibility is that by requiring more of U.S. corporations, they may be put at a disadvantage relative to foreign competitors. Evaluate this argument.
Q:
Financial returns from socially conscious investment funds are
A.competitive with returns from other investments.
B.higher than returns from other investments.
C.slightly lower than returns from other investments.
D.much lower than returns from other investments.
Q:
The Triple Bottom Line encompasses all of the following spheres of performance except
A.economic.
B.social.
C.environmental.
D.philanthropic.
Q:
The Triple Bottom Line concept focuses on economic, social, and environmental performance, the key elements of
A.sustainability.
B.growth.
C.corporate social responsibility.
D.corporate social responsiveness.
Q:
The narrow view of corporate citizenship focuses solely on
A.ecological issues.
B.employee relations.
C.corporate community relations.
D.stakeholder management.
Q:
The relationship between corporate social performance and financial performance is viewed from three different perspectives. The symbiotic view
A.states that financial performance determines social performance.
B.high social performance leads to improved financial performance.
C.states that there is an interactive relationship among social performance, financial performance, and corporate reputation.
D.is synonymous with the contingency view of Husted.
Q:
The view of corporate citizenship that embraces all that is implied in the concepts of social responsibility, responsiveness, and performance is the ____ view.
A.unlimited
B.broad
C.narrow
D.limited
Q:
The relationship between corporate social performance and financial performance is viewed from three different perspectives. The perspective that views social responsibility as a "fair weather" concept
A.has been studied extensively.
B.views social responsibility as driven by the firm's financial performance.
C.is the most popular of the three perspectives.
D.sees an interactive relationship among social performance, financial performance, and corporate reputation.
Q:
Which of the following is not a characteristic of a socially responsible company?
A.makes products that are safe
B.makes above average financial returns
C.does not pollute air or water
D.recycles within the company
Q:
The relationship between corporate social performance and financial performance is viewed from three different perspectives. The most popular view is based on the belief that
A.socially responsible firms are more financially profitable.
B.more profitable firms have the ability to be more socially responsible.
C.social responsibility and financial performance are inter-related and affect each other.
D.there is no relationship between social responsibility and financial performance.
Q:
Which of the following is a criterion for The Conference Board's Ron Brown Award for Corporate Leadership?
A.membership in the Fortune 500
B.never having been fined by the Environmental Protection Agency
C.offering broad potential for social and economic benefits for U.S. society
D.membership in The Conference Board
Q:
Benefits to companies of good corporate citizenship include all of the following except
A.improved employee relations.
B.improved customer relations.
C.improved business performance.
D.fewer government regulations.
Q:
The Conference Board's Ron Brown Award for Corporate Leadership honors companies for
A.sustained high levels of corporate social performance.
B.leadership in corporate social responsibility research.
C.outstanding achievements in employee and community relations.
D.outstanding achievements in stakeholder management.
Q:
Carroll's corporate social performance model can be used in all of the ways listed below except
A.providing a conceptualization that could lead to better managed social performance.
B.providing answers to specific social problems.
C.using it as a planning tool.
D.identifying categories within which the organization can be situated.
Q:
Which of the following is not a dimension of Carroll's corporate social performance model?
A.social responsibility categories
B.funding sources
C.philosophy of social responsiveness
D.issues
Q:
Which of the following is not an argument commonly used in favor of corporate social responsibility?
A.Business is best equipped to handle social problems.
B.It is in the long range interest of business to be socially responsible.
C.Being socially responsible helps ward off government intervention and regulation.
D.Business has the resources to combat social problems.
Q:
The ____ argument against CSR focuses on the consequence of the requirement that business must internalize costs that it formerly passed on to society in the form of dirty air run safe products which might necessitate raising prices.
A.Resources Available
B.Business not equipped
C.Dilutes Business purpose
D.Global Competitiveness
Q:
The first and primary argument for corporate social responsibility is
A.it is a way to gain more power.
B.business is best equipped to handle social problems.
C.it is in business's long range interest to be socially responsible.
D.the free-market economic system has proven to be ineffective in dealing with social problems.
Q:
____ is depicted as an action - oriented variant of CSR
A.Corporate Social Responsiveness
B.Corporate Social Responsibility
C.Corporate Societal Responsibility
D.Corporate Social Performance
Q:
All of the following are arguments commonly made against corporate social responsibility except
A.social problems should be addressed first by the free-market economic system, and then, if necessary, by government.
B.business is not equipped to handle social activities.
C.business already has enough power--it should not be given more.
D.business did not create today's social problems, so it should not be expected to solve them.
Q:
According to the Business Case for CSR, a reason companies are becoming more socially responsible is all of the following except
A.Access to capital
B.Increased revenue
C.Cost savings
D.Customer demand
Q:
The socially responsible firm should strive to do all of the following EXCEPT
A.Make a profit
B.Overt the law
C.Be ethical
D.Be a good corporate citizen
Q:
The Civil Corporation identifies four ways in which business firms respond to social pressures. Which of the following is not one of those?
A.defensive approach
B.cost-benefit approach
C.strategic approach
D.stakeholder approach
Q:
The ____ portrays the concurrent fulfillment of the firm's economic, legal, ethical and philanthropic responsibilities
A.Pyramid of Corporate Social Responsibility
B.Corporate Citizenship concepts
C.Social Response Cycle
D.None of these