MGMT100 EXAM QUESTIONS WITH 100% CORRECT ANSWERS
Types of Strategies in Response to CSR - Answer- - proactive (Take leadership of social intiatives)
- Accommodative (do minimum ethically required)
- Defensive (do minimum legally required)
- obstructionist (Fight social demands)
Vanguard O...
MGMT100 EXAM QUESTIONS WITH
100% CORRECT ANSWERS
Types of Strategies in Response to CSR - Answer- - proactive (Take leadership of
social intiatives)
- Accommodative (do minimum ethically required)
- Defensive (do minimum legally required)
- obstructionist (Fight social demands)
Vanguard Organisations - Answer- Organisations being proactive in the CSR space.
Ethical Manager - Answer- Ethics sets standards for what is considered good and bad
in manager conduct and decision-making.
Ultimately, questions of organisational social responsibility and responsiveness depend
on the ethical standards of managers running their organisations
Three Domains of Human Action - Answer- - codified law (legal standard)
- ethics (social standard)
- free choice (personal standard)
Milton Friedman View on Ethics - Answer- A firm should use all its resources to increase
profits, as long as it stays within the rules of the game. Their job is to make the best
economic decisions and society as a whole will benefit from this.
Andrew Carnegie View on Ethics - Answer- The Charity principle: all people are not
born with equal opportunity and therefore those that are better off have a responsibility
to care for the less successful in our society.
The Stewardship Principle: holders of wealth are caretakers of their property. They have
a duty to increase its value for the benefit of society in the future.
Types of Management Ethics - Answer- - Immoral management
- Amoral management
- Moral management
Criteria for Ethical Decision Making - Answer- - Utilitarian (Greater good)
- Individualism (self interest)
- Moral rights (universal rights)
- Justice (equity, fairness, and impartiality)
- practical (Ethical behaviour)
, Important Ethical Hotspots - Answer- - employment conflicts of interest
- environmental issues
- sexual harassment
- workplace safety
- employee privacy
- conflicts between company ethics and foreign business practices
- security of company records
- inappropriate gifts to corporate personnel
- unauthorised payments to foreign officials
- balancing work and family commitments.
Three Pillars of Sustainability - Answer- Social (People/Social Licence)
Environment (Planet)
Economic (Profits/Stability)
Sustainable Business Practices - Answer- - extend the productive life of organisations
and maintain high levels of corporate performance
- maintain decent levels of welfare for present and future generations
- enhance society's ability to maintain itself to solve its major problems
- enhance the planet's ability to maintain and renew the biosphere and protect all living
species
Strategic Requirements for Sustainable Development - Answer- - Stakeholder Support
- Efficiency
- Market edge
Organisational Requirements for Sustainable Development - Answer- - Strategically
congruent
- Committed
- well-integrated
Entrepreneur - Answer- - Sensing Opportunity
- Create Value and Build a Vision
- Find, Marshal, and Control Resources
Classical Management (Scientific) - Answer- Management theory that studies the way
work is organised and the procedures used to complete a job in order to increase
worker productivity.
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