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BUS100 - Final Exam Questions And Correct Answers
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BUS100 - Final Exam Questions And Correct AnswersWhat stakeholder group(s) can exercise legal power? - ANSWER Customers,
Employees, Shareholders
Which of the following is NOT a correct statement about the business-society
interdependence? - ANSWER Actions by governments rarely affect business.
Companies conducting their business according to the stakeholder theory of the firm
create value by: - ANSWER Increase stock price, developing employee professional
skills, innovating new products.
Which of the following is not correct with regard to the interactive social system? -
ANSWER The boundary between business and society is clear and distinct.
Stakeholder groups include: - ANSWER Environmental activists, shareholders, business
support groups
Which one of the following is considered to be a nonmarket stakeholder of business -
ANSWER Nongovernmental organizations.
Customers can exert economic stakeholder power by: - ANSWER Withholding
purchases of products when they feel the goods are too expensive.
If a community group sues a company over adverse health effects due to a company's
unsafe disposal of toxic chemicals, they are exerting a stakeholder's: - ANSWER Legal
Power
What form does power take that a local community might use to influence a company's
behavior? - ANSWER Publicizing an issue, Challenging the right of a business activity to
continue to operate, Lobbying government policy makers for regulations.
,Which of the following is NOT an example of the economic power of stakeholders? -
ANSWER A social group protests a government's decision to raise taxes.
Once an issue has been identified its implications need to be: - ANSWER Analyzed
As a rule, in time, business's relationship with its stakeholders usually: - ANSWER Goes
through stages of evolution.
Stakeholder engagement is: - ANSWER The process of continuous relationship building
between a business and its stakeholders.
The issues management process is a - ANSWER Systematic process companies use
when responding to public issues which are of greatest importance to the business.
Contemporary issue management: - ANSWER Is an interactive, forward thinking
process
Issues management process - CLASSIC VERSION The classic elements of an issues
management process includes: - ANSWER Identifying the problem, developing
alternatives, implementing actions
Proactive companies are those that: - ANSWER Far less likely to be surprised by crises
and negative events.
The activities of special interest groups are a critical component in gathering
intelligence from the: - ANSWER Social environment
Because public issues pose both risks and opportunities to organizations, they require:
- ANSWER A systematic means of identifying, monitoring, and selecting public issues.
, An examination of the stability or instability of a government is an example of scanning
the: - ANSWER Political Environment
Which of the following examples does not demonstrate a company governed by
enlightened self-interest? - ANSWER A company breaking past records by maximizing
quarterly profits.
Which of the following is an argument against corporate social responsibility? -
ANSWER Demands skills businesses lack.
Businesses practice global corporate citizenship by: - ANSWER Identifying business
opportunities that serve the public interests.
Combining attentiveness to economic performance and attentiveness to social
performance.
The costs of corporate social responsibility can be ultimately transferred to the: -
ANSWER Consumer via high prices.
Good corporate citizens: - ANSWER Strive to conduct all business dealings in an ethical
manner.
Work to protect the environment
Make a concerted effort to balance the needs of all stakeholders.
Some companies have created a department of corporate citizenship: - ANSWER
Centralize under common leadership wide-ranging corporate citizenship functions.
Positive reputation can be valued as an intangible corporate: - ANSWER Asset
When engaging in social programs, a corporation: - ANSWER May forego some
short-run profits.
Corporate power is defined as: - ANSWER The potential of business organizations to
shape government, economy, and society, from their organizational base.
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