CHAPTER 5 - Chapter 5 Social Responsibility and Managerial...

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Chapter 5 Social Responsibility and Managerial Ethics TRUE/FALSE QUESTIONS WHAT IS SOCIAL RESPONSIBILITY? 1. The classical view of organizational social responsibility is that management’s only social responsibility is to maximize profits. (True; moderate; p. 100) 2. The most outspoken advocate of the classical view of organizational social responsibility is Milton Friedman. ( True; easy; p. 100) 3. In the socioeconomic view of organizational social responsibility, maximizing profits is a company’s second priority. (True; moderate; p. 100) 4. A recent survey found that most business owners would continue socially responsible practices even if they found that the practices were cutting into profits. (True; moderate; p. 103) 5. Socially responsible businesses tend to have less less- secure long-run profits. (False; difficult; p. 103) 6. One argument against businesses championing social responsibility issues is that businesses already have too much power. (True; difficult; p. 103) 7. A business has fulfilled its social obligation when it meets economic, legal, and ethical obligations. (False; moderate; p. 103) 8. Large global corporations look to lower their costs and be more competitive by locating in countries where human rights are not a high priority. (False; easy; p. 103) 9. The difference between an organization’s social obligation and social responsiveness is the legal aspect. (False; moderate; p. 103) SOCIAL RESPONSIBILITY AND ECONOMIC PERFORMANCE 10. Research has found that corporations’ social responsibility is unrelated to future financial performance, . (False; moderate; p. 104) 11. Lack of accountability is an argument against social responsibility. (True; easy; p. 104) VALUES-BASED MANAGEMENT 97
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12. Values-based management is an approach to managing in which managers establish, promote, and practice an organization’s shared values. (True; easy; p. 104) 13. Though the outcomes are not perfectly measured, the majority of research studies show a positive relationship between corporate social involvement and economic performance. (True; easy; p. 104) 14. A company’s shared values act as guideposts for managerial decisions and actions. (True; moderate; p. 104) 15. Shared corporate values impact many issues, but not the marketing function. (False; moderate; p. 107) 16. Values-based management is based on the close link between an organization’s decisions and activities and its impact on the natural environment. (False; moderate; p. 107) 17. Affluent societies account for more than 95 percent of the world’s energy and resource consumption. (False; moderate; p. 105) THE “GREENING” OF MANAGEMENT 18. The market approach to going green is when organizations respond to multiple demands of stakeholders. (False; moderate; p. 105)
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CHAPTER 5 - Chapter 5 Social Responsibility and Managerial...

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