MQM 220 Final Exam Review Question and answers rated A+

MQM 220 Final Exam Review Question and answers rated A+ meeting economic and legal responsibilities and no more - correct answer social obligation the capacity of a firm to adapt to changing societal conditions - correct answer social responsiveness a firm's obligation, beyond that required by the law and economics, to pursue long-term goals that are good for society - correct answer social responsibility What is a social responsibility, and why would an organization's managers choose to be socially responsible (or not)? - correct answer advantages: public expectations; better environment possessions of resources; long-run profits disadvantages: costs; violation of maximum profit too much power; lack of accountability and skills What is the classical and socioeconomic view of social responsibility? - correct answer classical- management's only social responsibility is to maximize profits socioeconomic- social responsibility goes beyond making profits to include protecting and improving society's welfare What are the arguments for and against social responsibility? - correct answer For: public expectations, long-run profits, ethical obligation, public image, better environmen