Question 1

The degree to which a firm understands and addresses stakeholder demands can be referred to as

Accepted Answer

A)  a stakeholder orientation.
B)  a shareholder orientation.
C)  the stakeholder interaction model.
D)  a two-way street.
E)  a continuum.

Question 2

Government regulators are a secondary stakeholder.?

Accepted Answer

A) True 
 B)False

Question 3

A broader view of social responsibility?

Accepted Answer

A)  views customers as the most important stakeholder.
B)  takes into account a shareholder orientation.
C)  prioritizes all stakeholders the same way.
D)  considers the long-term welfare of society.
E)  emphasizes adherence to law as the highest priority.

Question 4

Why is it important for businesses to recognize secondary stakeholder groups?

Accepted Answer

A)  They are absolutely necessary for the firm's survival.
B)  They include the employees necessary for the firm's success.
C)  They usually have more power than primary stakeholders.
D)  They provide vital resources that companies need.
E)  They have legitimacy and can exert power.

Question 5

Stakeholders' power over businesses stems from their

Accepted Answer

A)  ability to withdraw or withhold resources.
B)  ability to generate profits.
C)  media impact.
D)  political influence.
E)  stock ownership.

Question 6

The specific steps for implementing the stakeholder perspective do not include which of the following?

Accepted Answer

A)  Identifying stakeholder groups
B)  Identifying stakeholder issues
C)  Identifying and gaining stakeholder feedback
D)  Identifying and gaining government feedback
E)  Assessing organizational commitment to social responsibility groups

Question 7

The first of the three activities that are associated with the stakeholder orientation is the

Accepted Answer

A)  organization-wide generation of data.
B)  organization's responsiveness to intelligence.
C)  set of consumer attributes identified.
D)  organizational strategy of target markets.
E)  human relations department's set of priorities.

Question 8

Accountability,oversight,and control all fall under the definition and implementation of corporate

Accepted Answer

A)  profit.
B)  loyalty.
C)  care.
D)  governance.
E)  diligence.

Question 9

The purpose of a stakeholder orientation is to

Accepted Answer

A)  emphasize shareholders and provide them with a return on their investment.
B)  maximize positive outcomes that meet stakeholder needs.
C)  enhance the profitability of the firm.
D)  determine which stakeholders to address and which to ignore.
E)  allow stakeholders to determine the limits of executive compensation.

Question 10

A stakeholder orientation can be viewed as a(n)

Accepted Answer

A)  necessity for business success.
B)  continuum.
C)  polarizing concept.
D)  good marketing ploy.
E)  expensive proposition.

Question 11

Which of the following is a major ethical concern among corporate boards of directors?

Accepted Answer

A)  Compensation
B)  The non-traditional directorship approach
C)  Dividend reporting
D)  Secondary stakeholders
E)  Debt swaps

Question 12

A stakeholder orientation is not complete unless it includes

Accepted Answer

A)  clear accounting procedures.
B)  major financing activities.
C)  marketing strategy.
D)  feedback from special-interest groups.
E)  activities that actually address stakeholder issues.

Question 13

Those who have a claim in some aspect of a firm's products,operations,markets,industry,and outcomes are known as

Accepted Answer

A)  shareholders.
B)  stockholders.
C)  stakeholders.
D)  claimholders.
E)  special-interest groups.

Question 14

The term used to express how a firm meets its stakeholder expectations of its economic,legal,ethical,and philanthropic responsibilities is

Accepted Answer

A)  reputation.
B)  corporate citizenship.
C)  corporate ethical audit.
D)  ethical citizenship.
E)  fiduciary duties.

Question 15

What is the first step in implementing a stakeholder perspective in an organization?

Accepted Answer

A)  Identifying resources and determining urgency
B)  Identifying stakeholder groups
C)  Identifying stakeholder issues
D)  Assessing the corporate culture
E)  Assessing organizational commitment to social responsibility

Question 16

Why do critics argue that high compensation for boards of directors is a bad thing?

Accepted Answer

A)  It is too expensive for the organization.
B)  It could cause conflicts of interest between the directors and the organization.
C)  It is not fair to poorly compensated employees.
D)  High pay will render the board less complacent.
E)  Board of director compensation is negatively related to corporate growth.

Question 17

_________________ is the idea that because people live in a community,social rules should benefit the community.

Accepted Answer

A)  The stakeholder interaction model
B)  Consumer protection
C)  The common good
D)  Sustainability
E)  Corporate governance

Question 18

Some economists believe that if companies address economic and legal issues,they are satisfying the demands of society,and that trying to anticipate and meet additional needs would be almost impossible.Which economist's theory are they following most closely with this belief?

Accepted Answer

A)  Adam Smith.
B)  Archie Carroll.
C)  Jack Ma.
D)  Noel Biderman.
E)  Milton Friedman.

Question 19

A stakeholder group that is absolutely necessary for a firm's survival is defined as

Accepted Answer

A)  direct.
B)  tertiary.
C)  secondary.
D)  special-interest.
E)  primary.

Question 20

The final step in implementing a stakeholder perspective is identifying stakeholders.?

Accepted Answer

A) True 
 B)False

Exam 2: Stakeholder Relationships, Social Responsibility, and Corporate Governance

The specific steps for implementing the stakeholder perspective do not include which of the following?

Correct AnswerverifiedShow Answer

What is the first step in implementing a stakeholder perspective in an organization?

Correct AnswerverifiedShow Answer

Government regulators are a secondary stakeholder.?

Correct AnswerverifiedShow Answer

Accountability,oversight,and control all fall under the definition and implementation of corporate

Correct AnswerverifiedShow Answer

The first of the three activities that are associated with the stakeholder orientation is the

Correct AnswerverifiedShow Answer

The final step in implementing a stakeholder perspective is identifying stakeholders.?

Correct AnswerverifiedShow Answer

Some economists believe that if companies address economic and legal issues,they are satisfying the demands of society,and that trying to anticipate and meet additional needs would be almost impossible.Which economist's theory are they following most closely with this belief?

Correct AnswerverifiedShow Answer

The degree to which a firm understands and addresses stakeholder demands can be referred to as

Correct AnswerverifiedShow Answer

Why do critics argue that high compensation for boards of directors is a bad thing?

Correct AnswerverifiedShow Answer

A stakeholder orientation is not complete unless it includes

Correct AnswerverifiedShow Answer

Those who have a claim in some aspect of a firm's products,operations,markets,industry,and outcomes are known as

Correct AnswerverifiedShow Answer

A stakeholder group that is absolutely necessary for a firm's survival is defined as

Correct AnswerverifiedShow Answer

A stakeholder orientation can be viewed as a(n)

Correct AnswerverifiedShow Answer

Why is it important for businesses to recognize secondary stakeholder groups?

Correct AnswerverifiedShow Answer

Which of the following is a major ethical concern among corporate boards of directors?

Correct AnswerverifiedShow Answer

_________________ is the idea that because people live in a community,social rules should benefit the community.

Correct AnswerverifiedShow Answer

A broader view of social responsibility?

Correct AnswerverifiedShow Answer

The purpose of a stakeholder orientation is to

Correct AnswerverifiedShow Answer

Stakeholders' power over businesses stems from their

Correct AnswerverifiedShow Answer

The term used to express how a firm meets its stakeholder expectations of its economic,legal,ethical,and philanthropic responsibilities is

Correct AnswerverifiedShow Answer

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