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BUS Ethics Quiz 5 Over Ch 5 Corporate Social Responsibility
Terms in this set (32)
The economic model of corporate social responsibility (CSR) holds that businesses should integrate social goals and economic goals.
The philanthropic perspective of the economic model holds that business has no strict obligation to contribute to social causes.
The stakeholder model of corporate social responsibility (CSR) views business as a citizen of the society in which it operates and, like all members of a society, business must conform to the normal range of ethical duties and obligations that all citizens face.
Philosopher Norman Bowie identifies his approach as a "Kantian" theory of business ethics.
Stakeholder theory states that a firm should be managed for the sole benefit of stockholders.
The sustainability version of corporate social responsibility (CSR) suggests that the long-term financial well-being of every firm is directly tied to questions of how the firm both affects and is affected by the natural environment.
A firm that is environmentally unsustainable is also a firm that is, in the long-term, financially unsustainable.
Reputation management refers to the practice of caring for the "image" of a firm.
Corporate social responsibility (CSR)-related activities can improve profitability by enhancing a company's standing among its stakeholders, including consumers and employees.
According to David Vogel, investing in corporate social responsibility (CSR) when consumers are not willing to pay higher prices to support that investment improves the profit levels of the firm.
ethical expectation that society has for business.
Corporate social responsibility (CSR) refers to the:
A business should not sell a product that causes harm to consumers.
Which of the following is the most demanding social responsibility?
Duty to not cause avoidable harm to the society
Which of the following ethical requirements is the type of responsibility established by the precedents of tort law?
The form of business that limits the liability of individuals for the risks involved in business activities is known as ________.
investors were protected from undue personal risks.
Legislators created a form of business called corporations because they thought that businesses could be more efficient in raising the capital necessary for producing goods, services, jobs, and wealth if:
fulfill the economic functions that it was designed to serve.
According to the economic model of corporate social responsibility (CSR), the sole social responsibility of a business is to:
Matthew manages the sales team at an information technology (IT) firm. His focus is to conduct business in accordance with his firm's mission and vision, while making as much money as possible for the firm and conforming to the basic rules of the society. He ensures that his actions embody ethical custom. In this scenario, Matthew's view of corporate social responsibility is most likely rooted in the ________ tradition.
The ________ of corporate social responsibility (CSR) holds that just as individuals have no ethical obligation to contribute to charity or to do volunteer work in their community, business has no strict ethical responsibility to serve wider social goods.
This approach is especially common with small, privately owned businesses where the owners also often play a prominent leadership role within their local community.
Identify a true statement about the philanthropic perspective of the economic model of corporate social responsibility.
economic model of corporate social responsibility (CSR)
The ________ directs managers to maximize profit and shareholder wealth and recognizes only legal limitations on the pursuit of profit.
Which of the following models of corporate social responsibility (CSR) considers business as a citizen of the society that it operates in?
respect for human rights.
According to Norman Bowie, the "moral minimum" that we expect of every person—either acting as individuals or within corporate institutions—is:
It begins with the recognition that every business decision affects a wide variety of people, benefiting some and imposing costs on others.
Which of the following statements is true about the stakeholder theory?
________ recognizes that every business decision imposes costs on someone and mandates that those costs be acknowledged.
It argues that the narrow economic model fails both as an accurate descriptive and as a reasonable normative account of business management.
Identify a true statement about the stakeholder theory.
Both consider the consequences of management decisions for the well-being of all affected groups.
Which of the following is a similarity between utilitarianism and stakeholder theory?
rights-based ethical framework
Corporate managers who fail to give due consideration to the rights of employees and other concerned groups in the pursuit of profit are treating these groups as means to the ends of stockholders. This is unjust according to the ________.
It suggests that firms should fully combine economic and social goals by bringing social responsibilities into the core of their business model.
Identify a true statement about the integrative model of corporate social responsibility (CSR).
pursuing social ends as the very core of an organization's mission.
The tension that prevails when an organization tries to meet both social and economic responsibilities is generally overcome by:
all economic activity exists within a biosphere that supports all life
The defenders of the sustainability approach toward corporate social responsibility (CSR) point out that ________.
A firm that uses resources at unsustainable rates
Which of the following is an example of a firm that is failing its fundamental social responsibility?
The practice of attending to the "image" of a firm is sometimes referred to as:
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