Exam (elaborations)

Test Bank for Business and Society, 8th Edition by O.C. Ferrell

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Course
Business Ethics

Institution
Business Ethics

Test Bank for Business and Society: A Strategic Approach to Social Responsibility & Ethics 8th Edition 8e by O.C. Ferrell; Debbie M. Thorne; Linda Ferrell. Full Chapters test bank are included - Chap 1 to 13 (Complete Chapters) Ch01 Social Responsibility Framework Ch02 Strategic Management of S...

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Uploaded on August 21, 2023
Number of pages 133
Written in 2023/2024
Type Exam (elaborations)
Contains Questions & answers

business
society
strategic
approach
social
responsibility
ethics
8th
edition
ferrell
thorne
multiple choice
mcqs
true false
quiz bank
9781948426510
test bank
exam bank

Institution Business Ethics
Course Business Ethics

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Complete Chapters Test Bank included - Chap 1 to 13

Business & Society: A Strategic Approach to Social Responsibility &
Ethics
Test Bank – Multiple Choice Questions
Chapter One

1. What is Stage 1 of social responsibility requirements?
a. philanthropic activities
*b. financial viability
c. ethics, principles, and values
d. compliance with legal and regulatory requirements
page 9

2. Which of the following is one of the four types of corporate social responsibility?
a. global
b. technological
c. competitive
*d. philanthropic
page 10

3. The most basic principles have been codified into _______________ to require that companies
conduct themselves in ways that conform to society’s expectations.
*a. laws and regulations
b. ethical values
c. economic principles
d. environmental regulations
page 10

4. Society enforces its expectations regarding the behavior of businesses through
_______________.
a. boycotts and demonstrations
b. the media
*c. the legal system
d. self-regulation
page 9

5. Business ethics refers to:
a. regulations and laws that guide companies in their business decisions.
b. companies refraining from forming monopolies or restricting competition in any way.
*c. the principles, values, and norms that guide individual and group behavior in the world of
business.
d. unique industry and professional factors that influence employees.

,page 9

6. In the 1990s, employees turned to a more holistic approach to work and life, characterized by
which of the following?
a. an increase in job loyalty
b. more concern for compensation
*c. higher expectations for responsible and respectable business practices
d. the elimination of management positions
page 13

7. Flatter organizations brought about due to the economic instability of the 1980s and early
1990s meant workforce reduction but also entailed _______________.
*a. increasing empowerment of lower-level employees
b. more opportunities for outstanding employees to move into management
c. additional pay for employees
d. more employment by large companies
page 13

8. What is the glue that holds organizations together and allows them to focus on efficiency,
productivity, and profits?
a. competence
b. diversity
*c. trust
d. respect
page 20

9. Many studies have identified a positive relationship between social responsibility and
_______________.
*a. financial performance
b. government penalties
c. better supplier agreements
d. talented employees
page 23

10. Which of the following refers to a company’s formal system of accountability, oversight, and
control?
*a. corporate governance
b. the common good
c. employee well-being
d. legal responsibility
page 6

,11. Organizations must show that they have exceeded their _______________ before they can
address their ethical purposes and standards.
*a. legal responsibilities
b. stakeholder expectations
c. consumer protection
d. social responsibilities
page 6

12. Which is the following is a vision statement?
*a. a description of a company’s current and future objectives to help align decisions with their
philosophy and goals
b. a summary of a company’s aims and values.
c. the most basic expectation and key foundational issue that affects firms’ stakeholder
evaluations.
d. a company’s formal system of accountability, oversight, and control.
page 8

13. Which of the following is not one of the four types of corporate social responsibility?
a. financial
b. legal
c. ethical
*d. competitive
page 9

14. What does the E in ESG stand for?
a. Exports
b. Energy
c. Ethics
*d. Environmental
page 16

15. How did the COVID-19 pandemic affect employee commitment?
a. there was no change in employee commitment
*b. the pandemic fueled an exodus from the workforce
c. employee commitment skyrocketed to a record high
d. employee retention rates increased and turnover decreased
page 22

16. Which of the following is most closely related to developing long-term relationships with
customers?
a. transparency
*b. customer loyalty
c. employee commitment

, d. shareholder support
page 21

17. Which of the following created formalized safeguards for unsuspecting consumers?
a. corporate culture
b. legal responsibility
c. corporate governance
*d. consumer protection laws
page 5

18. _______________ is grounded in effective and mutually beneficial relationships with
customers, employees, investors, competitors, government, the community, and others who have
a stake in the company.
a. Employee relations
b. Regulation
*c. Social responsibility
d. Corporate governance
page 26

19. Superior financial performance at the firm level within a society is measured as:
*a. profits, earnings per share, return on investment, and capital appreciation
b. high standards of living
c. whether the institutions within the society are generally trustworthy
d. productivity, gross sales, and number of employees
page 24

20. A company with a strong _______________ orientation often becomes quite proactive in
managing and changing conditions that yield economic benefits, including avoiding litigation
and increased regulation.
*a. social responsibility
b. shareholder
c. product
d. profit
page 24

21. What are enduring beliefs and ideals that are socially enforced?
a. social responsibility
*b. values
c. norms
d. principles
page 10

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Exam (elaborations)

Test Bank for Business and Society, 8th Edition by O.C. Ferrell

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