Quiz Busset Flashcards

1
Q

a continuing
commitment by business to behave ethically and
contribute to economic development while improving
the quality of life of the workforce and their families, the
local community, and society at large

A

World Business Council for
sustainable Development (WBCSD)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

The main reason why Friedman holds this
theory is that, in his view,

A

shareholders own the
company

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

four (4) levels of
corporate responsibility:

A
  1. Earning a profit
  2. Legal responsibility
  3. Ethical responsibility
  4. Discretionary responsibility
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Two
bases for this criticism are:

A

the objection to this claim
that the manager or executive is the employee of
shareholders; and (2) the objection to the belief that
stockholders are the “owners” of the corporation and
that the corporation is their “property”.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

means extending personal
services without either compulsion of monetary
compensation

A

Volunteerism

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

is a cost-free commitment to a cause.

A

Volunteerism

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

which are socioeconomic initiatives that belong to neither the traditional
private-for-profit sector nor to the public sector.

A

Third sector organization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

which is growing and gathering supporters across the
globe as an innovative approach to business activity
offering disadvantaged populations a path to human
development and economic prosperity.

A

Social enterprise movement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

an organization that applies commercial strategies to
maximize improvements in human and environmental
well-being—this may include maximizing social impact
alongside profits for external shareholders.

A

Social enterprise

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

critical
importance, as it significantly influences the sort of lives
we will lead in the future.

A

Corporate social responsibility

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

any party that has a stake or interest in the
business organization

A

Stakeholder

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

perspective can be viewed as a response to the existence
of entities that are legitimately interested in the behavior
of a company

A

Stakeholder

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

fundamentally a theory about
how business works at its best, and how it could work: it
is about value creation and trade and how to manage a
business effective

A

Stakeholder theory

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

does not mean that representatives of these groups must
sit on governing boards of the firm,

A

Stakeholder theory

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

indicates that a business is not only responsible to its owners but also has
obligations to various stakeholders, such as employees, customers, business partners, government
and non-governmental organizations

A

stakeholder approach

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

without either compulsion of
monetary compensation

A

Corporate volunteerism

17
Q

it is not cost free

A

Corporate volunteerism

18
Q

volunteer efforts are usually
sporadic and even partly
seasonal, for example, during
Christmas and other “giving”
occasions

A

Corporate volunteerism

19
Q

networks utilize CSR
programs to address the issue
of occasional volunteerism.

A

Corporate social responsibility

20
Q

Example: Customers, Employees, Government, Suppliers, Communities,
Creditors, Trade unions, Competitors.

A

Stakeholder

21
Q

is about value creation and trade and how to manage a
business effectively

A

Stakeholder theory

22
Q

a view of capitalism that emphasizes the interconnected
relationships between a business and its stakeholders.

A

Stakeholder theory