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Exam 7: Corporate Social Responsibility: The Concept

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Question 1

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"We will consider social,ethical,and environmental factors in our business decisions only if doing so is in the financial interest of the firm." This view is consistent with a profit-driven model of Corporate Sustainability.

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Question 2

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Salvo is considering shutting down a local factory.It is recognized that this will have a negative social impact on the community in which Salvo is located.The CEO argues,however,that social considerations should not outweigh economic factors.The CEO's view is most compatible with the ________model of corporate sustainability.

A) Synergistic
B) Holistic
C) Caring
D) Profit-driven
E) None of the answers.

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Question 3

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The argument against social responsibility is that it increases costs for the organization.

Corporations are legitimate because they have been granted power by society.

To satisfy its legal responsibilities,according to Carroll,a firm must meet more than the minimal legal requirements imposed upon them.

What is ISO 26000?

Under the traditional shareholders model of the amoral view of social responsibility,a firm is ONLY responsible for maximizing profits for shareholders.

The amoral view of social responsibility focuses on the activities of the firm that already conform to usually accepted or established patterns of conduct.

The view that the corporation has little or no social responsibility is an example of which amoral view of social responsibility?

All of the responsibilities have always existed in Carroll's pyramid of corporate social responsibility,but which two responsibilities have only become significant recently?

Diane is very proud of her accomplishments as CEO.She is pleased that,under her leadership,her company is auditing the corporation's impact on society and the environment in addition to measuring economic factors.She has been able to demonstrate that her firm is a good Corporate Citizen.

Explain what is meant by the principle of legitimacy?

Managerial discretion involves:

Corporate social responsibility (CSR)is the way that corporations achieve a balance between social,economic,and environmental responsibilities.

Which of the following statements is inconsistent with Milton Friedman's argument regarding the responsibility of a firm?

An argument for social responsibility is that corporate virtue is good for profit.

"Importers Are Us" has endeavoured to be a good corporate citizen by providing support for community education within the countries from which they import product.This is an example of which component of social responsibility?

The ISO 26000 standard extends far beyond the original ISO 9000 standard by including strict standards for environmental protection.

Provide examples of amoral-view theories of social responsibility.

"A business is not a person," Bill argued."It is not possible to impose moral sanctions on businesses like you would on a person." Bill's position is compatible with which view of social responsibility?