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Exam 9: Corporate Social Responsibility

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Question 1

True/False

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Some analysts argue that the more stringent regulatory environment resulting in the post Sarbanes-Oxley period increases shareholder confidence in financial reporting.

A) True
B) False

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Question 2

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A firm's financial responsibility is primary and the bedrock of corporate social responsibility because without financial viability, the other responsibilities become moot issues.

A) True
B) False

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Question 3

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As the chief production manager at ABC Manufacturing, Amanda always argues that her sole responsibility is to maximize profits for ABC's shareholders. Amanda is prescribing to which of these responsibilities?

CalPERS, the California Public Employees' Retirement System pressures the companies it invests in to engage in good corporate governance and socially responsible practices in areas such as __________ and __________.

The pragmatic approach is more proactive and affirmative than the strategic approach because it asks companies to identify and acknowledge company activities that can do harm and encourages firms to scrutinize their practices and address potential harms by focusing on their own value-chain activities.

The Social Investment Forum reported that socially responsible investing grew from $40 billion in 1984 to nearly $4 trillion in 2012.

The __________ reason, why corporations should care about social responsibility, is based upon the recognition that business must use its power responsibly in society or risk losing it. Corporations exist as legal entities with certain advantages (such as limited liability) because society allows them to do so, and these corporate rights and advantages can be removed from firms that are perceived to be irresponsible.

Which of the following defines costs to society, such as environmental damage, that are produced by companies but not reflected in the company's cost structure?

According to Harvard Professor Michael Porter and co-author Mark Kramel, the strategic reason for having CSR play a prominent role in a firm is that in evaluating the firm's CSR, executives should begin by scrutinizing the social impacts of the company's value chain.

Legal responsibilities go beyond ethical responsibilities to encompass the more general responsibility to avoid harm and do what's right.

__________, such as environmental damage, are costs to society that are produced by companies but not reflected in the company's cost structure.

Which of the following is questioned by some as whether it is a corporate "responsibility" at all?

The three reasons that corporations should care about social responsibility are __________, __________, and __________.

_________ responsibilities center on the corporation's participation in activities that promote human welfare or goodwill, generally through donations of time and money or products and services.

The economic responsibilities of a firm involve its primary function of producing goods and services that consumers need and want, while making an acceptable profit.

Organizations are finding that in the area of Corporate Social Responsibility (CSR), it is becoming increasingly difficult to separate __________ organizational ethics from __________ social responsibility.

One argument that social responsibility does "pay" focuses on the value of a company's reputation with key stakeholders such as customers, business partners, and employees.

As a new manager, your friend Jason is interested in learning why should his company care about social responsibility. Based on what you have learned, you should tell him that his company should care about social responsibility for all of the following reasons EXCEPT:

Interface Carpets, a stellar example of sustainability in action, lists seven fronts of Mount Sustainability. Which is NOT one of the firm's goals to meet its total sustainability status?

Jacob, CEO of AI Corporation, believes that his company must use its power responsibly in society or risk losing it. Jacob is utilizing which rationale for valuing social responsibility?