CH7exam - CH3 The Stakeholder Approach to Business,...

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CH3 The Stakeholder Approach to Business, Society, and Ethics 1. The purchasing manager at Noxious Nellie's has the authority to buy computer equipment that costs less than $5,000 without any other approval. Which sphere of power does this represent? a. Economic b. Technological c. Individual d. Environmental correct answer: c 2. The most practical reason for businesses to be socially responsible is: a. to increase financial returns to the business. b. to improve the image of corporations. c. to ward off government intervention. d. that it is easier than fighting society's demand for ethical business practices. correct answer: c 3. The multifiduciary view of stakeholders: a. views stakeholders as entities who have economic or legal power. b. holds that managers have the same types of duties to stakeholders and owners. c. views stakeholders as groups to be managed for the financial benefit of the company. d. views external stakeholders as obstacles to the financial goals of the firm. correct answer: b 4. The most basic level of stakeholder management capability, which entails identifying stakeholders groups and their respective stakes, is known as: a. the process level. b. the transactional level. c. the identity level. d. the rational level. correct answer: d 5. In order to understand corporate governance, it is important to understand the idea of: a. social responsibility. b. legitimacy. c. stakeholders. d. auditors. correct answer: b 1/5
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CH3 The Stakeholder Approach to Business, Society, and Ethics 6. Strategic management is: a. a method of motivating employees. b. the same thing as public policy. c. the set of all management decision-making. d. the overall management process that relates a firm to its environment. correct answer: d
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This note was uploaded on 04/08/2010 for the course BUSINESS BUSS301 taught by Professor Wendy during the Spring '08 term at École Normale Supérieure.

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CH7exam - CH3 The Stakeholder Approach to Business,...

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