Multiple Choice Question and Answer_e8b25cc56d1b32a2036a5b01fe94f519.docx

Multiple Choice Question and Answer_e8b25cc56d1b32a2036a5b01fe94f519.docx

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Unformatted text preview: chl 1. General Motors has been called a "template for 21Bt century capitalism." | | True False 2. A business is any organization that is engaged in making a product or providing a service for a profit. I | True False 3. Businesses and society are independent of one another. | True False 4. The stakeholder theory of the firm argues that a firm's sole purpose is u) create value for its shareholders. | | True False 5. The instrumental argument for the stakeholder theory of the firm says that companies perform better if they consider the rights and concerns of multiple groups in society. I | True False 6. Under the European Union's harmonization statues, managers are permitted to take into account the interests of the government, but not customers or employees. | True False T. Strong relationships between a corporation and its stakeholders are assets that add value. | True False 8. Stakeholders can exercise dim political power by urging elected officials to pass legislation. | True False 9. Each stakeholder group has only one source of power in relation to a firm. I | True False 10. The inmrests of different stakeholders often coincide. | True False 11. Stakeholders involved with one part of a company often may have little or no involvement with another part of the company. | True False 12. Companies with a reactive relationship with stakeholders make decisions unilaterally, without taking into consideration their impact on others. | True False 13. 14. 15. 16. 17. 18. 19. 20. Interactive stakeholder relationships are a source of competitive advantage for a firm. I ‘ True False I The external environment of business is dynamic and ever changing. True False Human rights issues have become more prominent and important for business. | True False Which statement is n_ot correct about the business-government—society interdependence? | A. Most business actions impact others in society. B. Few governmental actions have a direct or indirect impact on business. C. Business and government continuously affect all segments of the general public. D. It demands that managers acquire a conceptual understanding of these relationships. Which of the following examples best illustrates the boundary exchanges a company would encounter according to the general systems theory? A. An industrial company installs new equipment in its plant to comply with environmental regulations. B. A software company develops an application for a client. C. A purchasing department employee negotiates a price on parts from a supplier. 9 H el D. All of the above. p v Which of the following is the result of an inseparable relationship between business and society? I A. All business decisions have a social impact. B. The vitality of business depends on society's actions and attitudes. C. The survival of business is independent of society. D. Both A and B, but not C. Which of the following statements is n_ot true about the interactive social system? | A. Business and society need, as well as influence, each other. B. The boundary between business and society is clear and distinct C. Business is a part of society, and society penetrates far and often into the business. D. Business and society are both separate and connected. A firm subscribing to the ownership theory of the firm would mainly be concerned with providing value for its: | | A. Shareholders. B. Customers. C. Board of Directors. D. Community. 21. Corporations who run their operations according to the stakeholder theory of the firm create value by: | | A. Innovating new products. B. Increasing their stock price. C. Developing their employees' professional skills. D. All of the above. 22. Which argument says that stakeholder management realistically depicts how companies really work? | | A. Descriptive argument. B. Instrumental argument. C. Normative argument. D. Fiduciary argument. 23. The instrumental argument says stakeholder management is: | | A. A more realistic description of how companies really work. B. More effective as a corporate strategy. C. S imply the right thing to do. D. Determined by the amount of stock owned in the firm. 24. The fiduciary duty of managers benefit a firm's: | A. Smckholders. B. Customers. C. Employees. D. All of the above. 25. Under the European Union's harmonization statues, managers are specifically permitted w take into account the interests of: | | A. Customers. B. Employees. C. Creditors. D. All of the above. 26. Stakeholder groups can include: I | A. Stockholders. B. The media. C. Environmental activists. D. All of the above. 27. Which one of the following is considered to be a nonmarket stakeholder of business? | A. Customers. B. Media. C. Creditors. D. Stockholders. 0 Help 28. Which of the following is n_ot considered to be a nonmarket stakeholder? | | A. Government agencies. B. The natural environment. C. Activist groups. D. Non—governmental organizations. I 29. The phenomenon of a person or group holding multiple stakeholder duties is referred to as: | A. Role sets. B. Primary Stakeholder[s). C. Ownership Theory. D. None of the above. 30. A stakeholder analysis: | A. Creates equality among all stakeholder interests. B. Allows managers to examine two primary questions. C. Involves understanding the nature of stakeholder interests. D. All of the above. 31. The four types of stakeholders' power recognized by most experts are: | | A. Voting, economic, political, and legal power. B. Social, legal, environmental, and political power. C. Social, regulatory, voting, and media power. D. Economic, media, legal, and political power. 32. Which of the following statements is (are) correct about stakeholder’ power? | A. Different stakeholders have different types and degrees of power. B. Stockholders' voting power is limited to the percentage of stock owned by the stockholder. C. It uses resources to achieve a desired decision or outcome. D. All of the above. 33. Customers can exercise economic stakeholder power by: | | A. Voting on a proposed merger for the company and a competiwr. B. Boycotting products if they believe the goods are too expensive. C. Attending the company's annual meeting. D. Applying for a job with the company. 34. Which of the following is not an example of stakeholders' economic power? | | A. A toy manufacturer halts supplies to a customer that demanded very low prices. B. A social group protests a governments decision h) raise taxes. C. A local community boycotts a grocery store suspected of inaccurate weight scales. D. A social organization demands the closure of a business that has a discriminatory hiring policy. 35. When a community group sues a company for health effects caused by unsafe toxic chemicals disposal, it is an exercise of a stakeholders': | | A. Legal power. B. Voting power. C. Economic power. D. Political power. I 36. What stakeholder group{s) can exercise legal power? | | A. Employees. B. Customers. C. Shareholders. D. All of the above. 37. Stakeholders stand out to managers when they exhibit: | | A. Integrity, power, and legitimacy. B. Power, legitimacy, and urgency. C. Integrity, loyalty, and power. D. Legitimacy, loyalty, and urgency. 38. What kind of power might a local community use to influence a company's decisions? I | A. Publicizing an issue. 9 B. Lobbying government policy makers for regulations. Help 39. Stakeholders have been able to form international coalitions more successfully through use of: | - | A. Government regulation. B. Community involvement. C. Communications technology. D. Unions. 40. Businesses relationships with its stakeholders have evolved in the following order: ' I A. Reactive, proactive, interactive, cyberactive relationships. B. Inactive, reactive, proactive, and interactive relationships. C. Self-active, interactive, proactive, cyberactive relationships. D. Inactive, internally-active, externally-active, change—active relationships. 41. Stakeholder dialogue involves: | A. The business providing easily accessible information on their corporate web site regarding stakeholder interests. B. The business and stakeholder groups coming together for face—to—face conversations. C. The business hiring a public relations staff to proactively issue press releases concerning business developments. D. The business hiring third—party communicators to relay information to stakeholders. 42. Corporations that do n_ot engage in effective stakeholder dialogue mayr suffer: | A. Harm to their public reputation. B. Decreases in sales. C. Protests from stakeholder groups. D. All of the above. 43. Interactions between business and society occur: I A. lWithin a finite natural ecosysmm. B. Only during an environmental crisis. C. When business employees and the community are of similar cultural backgrounds. D. When legislation is passed requiring interaction. 4-4. Harnessing human imagination to create new approaches w the concerns of modern society is an example of: | | A. Personal identification. B. Networks. C. Business profits. D. Technology. 45. A successful business must meet its: | | A. Economic objectives. B. Social objectives. 46. Describe how the general systems theory can he applied to a business. | | 4?. Define and provide examples of each of the three core arguments for stakeholder management | | 48. Compare and contrast the relationships a firm may have with market and non—market stakeholders. | | 49. Discuss why a manager should, or should not, he considered a stakeholder. | | 50. Explain the evolution of a husinesses' relationship to its stakeholders. | | 51. 52. Discuss the advantages and disadvantages of stakeholder dialogue. I Describe and give examples of the external forces that shape the relationship between business and society. I ...
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