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Chapter 2—Social Responsibility

MULTIPLE CHOICE

1. Stakeholders' power over businesses stems from their
a.
ability to withdraw or withhold resources.
b.
ability to generate profits.
c.
media impact.
d.
political influence.
e.
stock ownership.

ANS: A PTS: 1

2. Those who have a claim in some aspect of a firm's products, operations, markets, industry, and outcomes are known as
a.
shareholders.
b.
stockholders.
c.
stakeholders.
d.
claimholders.
e.
special-interest groups.

ANS: C PTS: 1

3. Which of the following do not typically engage in transactions with a company and thus are not essential for its survival?
a.
Employees
b.
Secondary stakeholders
c.
Primary stakeholders
d.
Investors
e.
…show more content…
Who argued that when a business also cares about the well-being of stakeholders, it earns trust and cooperation that ultimately reduce costs and increase productivity?
a.
Adam Smith
b.
Theodore Levitt
c.
Norman Bowie
d.
Herman Miller
e.
Milton Friedman

ANS: C PTS: 1

22. Enlightened capitalism is associated with which individual?
a.
Adam Smith
b.
Theodore Levitt
c.
Norman Bowie
d.
Herman Miller
e.
Milton Friedman

ANS: A PTS: 1

23. A description of corporate social responsibility should include a list of all of the following except
a.
corporate rights.
b.
corporate duties.
c.
environmentally friendly activities.
d.
consequences.
e.
values.

ANS: C PTS: 1

24. In ascending order, Caroll's four levels of social responsibility are
a.
ethical, legal, economic, philanthropic.
b.
economic, ethical philanthropic, legal.
c.
economic, legal, ethical, philanthropic.
d.
legal, ethical, economic, philanthropic.
e.
ethical, legal, moral, economic.

ANS: C PTS: 1

25. Which ISO guideline was established as a corporate responsibility regulation that is meant to encourage discussions on the role of social responsibility and the importance of stakeholders?
a.
ISO 3000
b.
ISO 2000
c.
ISO 265000
d.
ISO 26000
e.
ISO 14000

ANS: D PTS: 1

26. Which ISO guideline pertains to environmental regulation standards and was designed to help reduce a firm's pollution,

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