Business and Society Exam Bank
Course Introduction
Business and Society examines the complex interactions between businesses and the broader social environment in which they operate. The course explores the ethical, legal, political, and social responsibilities of organizations, emphasizing how businesses impact and are impacted by societal values, public policy, and global trends. Students will analyze case studies, discuss emerging issues such as sustainability and corporate social responsibility, and learn about the evolving expectations of stakeholders including consumers, employees, governments, and communities. Through critical analysis, students develop an understanding of the strategic importance of responsible business practices in creating long-term value for both companies and society.
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Business and Society Stakeholders Ethics Public Policy 15th Edition by Anne Lawrence
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Chapter 1: The Corporation and Its Stakeholders
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Q1) Stakeholder groups can include:
A) Shareholders.
B) Business support groups.
C) Environmental activists.
D) All of the above.
Answer: D
Q2) Which of the following is <u>not</u> considered to be a nonmarket stakeholder?
A) Government agencies.
B) Creditors.
C) Activist groups.
D) Non-governmental organizations.
Answer: B
Q3) Departments,or offices,within an organization that reach across the dividing line that separates the company from groups and people in society are:
A) Inter-departmental divisions.
B) Geographical location areas.
C) Boundary-spanning departments.
D) Organizational maps.
Answer: C
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Page 3
Chapter 2: Managing Public Issues and Stakeholder Relationships
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Q1) Competitive intelligence enables managers in companies of all sizes to make informed decisions in all areas of the business.
A)True
B)False
Answer: True
Q2) A corporation's issue management activities are usually linked to:
A) The board of directors.
B) Top management.
C) Both the board of directors and top management levels.
D) The strategic governance committee.
Answer: C
Q3) Public issues are also sometimes referred to as:
A) Social issues.
B) Sociopolitical issues.
C) Both A and B.
D) None of the above.
Answer: C
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Page 4
Chapter 3: Corporate Social Responsibility and Citizenship
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Q1) BSR (formerly Business for Social Responsibility)helps its 300 member companies:
A) Lobby Congress for socially responsible legislation.
B) Discover tax shelters for social program expenditures.
C) Conduct social audits.
D) Develop sustainable business strategies.
Answer: D
Q2) Managers responding to the needs of the local education system as a normal or routine aspect of its operations is an example of an organization in the:
A) Innovative stage.
B) Integrated stage.
C) Transforming stage.
D) Engaged stage.
Answer: C
Q3) Which of the following is an argument in favor of corporate social responsibility?
A) Lowers economic efficiency and profit.
B) Discourages government regulation.
C) Places responsibility on business rather than individuals.
D) Imposes unequal costs among competitors.
Answer: B
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Page 5
Chapter 4: Business in a Globalized World
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Q1) Government has distinctive resources and competencies including:
A) Knowledge of public policy.
B) Ability to enforce the rules.
C) Revenue from taxation.
D) All of the above.
Q2) The Heritage Foundation scored which nation of the world among the most repressed in 2012?
A) Hong Kong.
B) Australia.
C) North Korea.
D) Singapore.
Q3) A free enterprise system refers to:
A) Economic assets that are privately owned and exchanged in an open market.
B) Property ownership by a centralized government.
C) A mix of privately owned and government controlled economic assets.
D) An index of economic freedom.
Q4) Most nations in the world share similar political,social and economic beliefs.
A)True
B)False
Q5) How can global action networks help global problem solving?
Page 6
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Chapter 5: Ethics and Ethical Reasoning
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Q1) A conception of right and wrong is:
A) Impossible to know.
B) The definition of ethics.
C) Determined by power.
D) Based on stakeholder dialogue.
Q2) As an additional employee benefit to promote spirituality,companies have begun to provide employees with the services of:
A) Philosophers.
B) Chaplains.
C) Financial advisors.
D) Ombudspersons.
Q3) The main drawback to utilitarian reasoning is that:
A) The majority may override the rights of those in the minority.
B) Managers using this reasoning process often fail to consider the means taken to reach the end.
C) It is difficulty to accurately measure both costs and benefits.
D) Cost-benefit calculations can only be provided by accountants.
Q4) An ethical egoist acts for the benefit of others and sacrifices self-interest.
A)True
B)False
7
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Chapter 6: Organizational Ethics
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Q1) In most companies,a moral atmosphere cannot be detected.
A)True
B)False
Q2) According to a recent Transparency International survey,Denmark and New Zealand are two countries that are least likely to be subjected to bribery.
A)True
B)False
Q3) Construct a comprehensive ethics program using four of the five ethical safeguards identified in the textbook.
Q4) Not all ethics issues in business are the same.Discuss the distinct ethical issues across three different organizational functions.Highlight details of the professional codes of conduct for each.
Q5) Which type of employee is most likely to report ethical issues in the workplace?
A) Rank and file.
B) Middle managers.
C) Executives.
D) Temporary workers.
Q6) Define bribery.Explain why certain countries are less likely to participate in such acts.
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Chapter 7: Businessgovernment Relations
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Q1) Deregulation is often:
A) A politically popular idea.
B) A politically unpopular idea.
C) Seen during a Democratic federal administration.
D) Found in European countries but not in the United States.
Q2) A national health care policy is an example of an economic policy.
A)True
B)False
Q3) In Europe,unions are prohibited by law to be on businesses' administrative boards.
A)True
B)False
Q4) Reregulation is:
A) The adoption of regulation in another country to promote trade.
B) Necessary since all regulation has a time limit.
C) The increase or expansion of government regulation.
D) The shifting of regulation to the state level from the national level.
Q5) Define each key element of the public policy process and provide an illustration or example for each element.
Q6) Compare and contrast economic policies with social assistance policies.
Page 9
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Chapter 8: Influencing the Political Environment
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Q1) To help control political favoritism,there have been global efforts to:
A) Promote fairness in the electoral process.
B) Control the rapid decrease in campaign costs.
C) Diminish the role of political parties.
D) Discourage grassroots participation.
Q2) Compare and contrast the three levels of business political involvement.
Q3) Which of the following is <u>not</u> a constituency-building strategy tool?
A) Expert witness testimony.
B) Advocacy advertising.
C) Public relations.
D) Legal challenges.
Q4) A Super PAC is a financial-incentive political strategy tool.
A)True
B)False
Q5) Hiring former government officials for positions in the corporate world is:
A) Normally legal.
B) Always unethical.
C) Considered unethical by over 50% of Americans.
D) A and C, but not B
Q6) How do the three types of corporate political strategies differ from each other?
Page 10
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Chapter 9: Sustainable Development and Global Business
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Q1) The paradox of the commons is that if all individuals attempt to maximize their own private advantage in the short term,the commons will still remain productive in the long run.
A)True
B)False
Q2) The most successful global businesses in coming years will be those companies that:
A) Develop short-term partnerships between companies in developing countries to transfer environmental technologies.
B) Recognize the imperative for sustainable development as an opportunity both for competitive advantage and ethical action.
C) Avoid fully accounting for environmental costs in calculating measures of production such as the gross domestic product (GDP).
D) Produce products with a limited useful life.
Q3) Which of these activities is not considered to be a marine ecosystem threat?
A) Overfishing.
B) Ocean pollution.
C) Coastal development.
D) Ocean alkalinity.
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Page 11
Chapter 10: Managing for Sustainability
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Q1) Which of the following statements is (are)true about the Comprehensive Environmental Response Compensation and Liability Act (CERCLA)?
A) It established a fund supported primarily by a tax on the petroleum and chemical companies.
B) It is regarded as one of the most successful environmental laws.
C) The funds collected are used to clean up sites where the original polluter cannot be identified.
D) Both A and C, but not B.
Q2) The Clean Air Act of 1990 incorporated the concept of tradable allowances as a key part of its approach to pollution reduction.
A)True
B)False
Q3) Discuss the following statement: "Effective sustainability management makes firms more competitive."
Q4) Effective environmental management requires an integrated approach that involves all parts of the business organization.
A)True
B)False
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Chapter 11: The Role of Technology
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Q1) Which of the following is not true about the service phase of technology?
A) It was the fourth phase in the development of technology.
B) It emphasized providing services.
C) It required manual and intellectual skills.
D) It dominated from 1900 to 1960.
Q2) In North America,mobile phones were first used primarily for m-commerce purposes.
A)True
B)False
Q3) Electronic business exchanges between businesses and businesses and between businesses and their customers emerged during the service phase of technological development.
A)True
B)False
Q4) The buying and selling of goods and services electronically is called:
A) M-commerce.
B) E-business.
C) Telecommunications.
D) Software piracy.
Q5) Define technology and describe its three primary features.
Page 13
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Chapter 12: Regulating and Managing Information Technology
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Q1) How has the increase in information technology affected criminal activities globally?
A) Crime has remained about the same.
B) Crime has decreased due to better monitoring efforts.
C) The need for government cooperation has been reduced.
D) New mechanisms for stealing data, trafficking contraband and laundering money have emerged.
Q2) The responsibility of managing technology with its many privacy and security issues for business organizations is entrusted to the CFO.
A)True
B)False
Q3) Electronic medical records are guaranteed to be 100 percent accurate. A)True
B)False
Q4) What have businesses done to manage personal information about their employees and customers? Identify a specific company that has taken action and discuss the results.
Q5) How is the corporate Chief Information Officer (CIO)a "security guard" for the organization? What are some of the important responsibilities of the CIO?
Page 14
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Chapter 13: Shareholder Rights and Corporate Governance
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Q1) Which of the following is a key feature of effective boards of directors?
A) Hold regular meetings without the CEO present.
B) Fill all important positions on the board with managers with insider knowledge of the firm.
C) Combine the duties of the board chairman and the chief executive.
D) Ensure that no outside members are included on the board.
Q2) In your opinion,how is the relationship between modern corporations and their shareholders changing? Explain and justify your argument.
Q3) A corporation's shareholders have a right to inspect the company's books for any reason.
A)True
B)False
Q4) Social investors seek to eliminate from their investment portfolios companies that:
A) Pollute the environment.
B) Discriminate against employees.
C) Make dangerous products like tobacco or weapons.
D) All of the above.
Q5) Describe a current trend in corporate governance,providing a real example.
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Chapter 14: Consumer Protection
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Q1) One problem with companies issuing product recalls is that the public is often unaware of them.
A)True
B)False
Q2) Under what legal doctrine does a firm bear legal responsibility for injuries caused by something it made or sold,whether or not it was negligent or breached a warranty?
A) Strict liability.
B) Product liability.
C) Consumer liability.
D) Supplier liability.
Q3) The Latin phrase,caveat emptor,meaning "let the seller beware" has put sellers on alert to look after their own interests.
A)True
B)False
Q4) The consumer movement exists because consumers want to be treated fairly and honestly in the marketplace.Outline and explain the additional reasons for the existence of the consumer movement.
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Chapter 15: Employees and the Corporation
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Q1) Income inequality has grown in the United States since the 1980s.In what ways do businesses contribute to this trend? What,if anything,can businesses do to reduce income inequality?
Q2) A strong employer-employee relationship is central to:
A) Achieving a corporation's economic goals.
B) Satisfying the wishes of those who contribute their skills and talents to the company.
C) Increasing the gross domestic product of a nation.
D) Both A and B, but not C.
Q3) Discuss the pros and cons of the new social contract from the viewpoint of an employer and employee.What duty does an employer have to provide job security to its workers?
Q4) The right to free speech is protected in the United States by the:
A) Constitution.
B) Patriot Act.
C) False Claims Act.
D) Fair Labor Standards Act.
Q5) The level of income inequality in the United States has fallen since the 1980s.
A)True
B)False
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Chapter 16: Managing a Diverse Workforce
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Q1) Which of the following is not a benefit of managing diversity and inclusion effectively?
A) These businesses get tax breaks from the federal government.
B) These businesses can often more effectively serve customers.
C) These businesses are better able to attract and retain workers from a variety of backgrounds.
D) Businesses with a diverse workforce boost innovation for the firm.
Q2) Do you believe that support programs for work and family primarily benefit women employees,men employees,or both equally? Explain.
Q3) Among minority-owned firms in the mid-2010s,the most numerous were those owned by:
A) Asians.
B) African-Americans.
C) Hispanics.
D) Native Americans.
Q4) Beginning on a major scale in the 1960s,U.S.presidents issued executive orders and Congress enacted laws intended to promote equal treatment of employees.
A)True
B)False
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Chapter 17: Business and Its Suppliers
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Q1) Under which of these conditions is private governance most likely to emerge?
A) Small lead firms have leverage over larger suppliers.
B) Large lead firms have leverage over larger suppliers.
C) The public is totally satisfied with a firm's social and environmental performance.
D) Firms with highly visible brands are more vulnerable to reputational damage.
Q2) As a stakeholder,suppliers' interests include:
A) Earning income.
B) Utilizing productive capacity efficiently.
C) Building short-term, but profitable, business relationships.
D) Both A and B, but not C.
Q3) Which of these measures is (are)frequently used to rate suppliers when using an integrated supplier scorecard?
A) Environmental performance.
B) Product quality.
C) Number of employees.
D) Both A and B, but not C.
Q4) Define suppliers and explain their interests and power,especially as related to lead firms.How has globalization affected the supply chain?
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Page 19
Chapter 18: The Community and the Corporation
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Q1) A financial services firm decided to assess the return on its social investment in an educational program in local schools.As part of its assessment,it measured the improvement in learning among students who had participated in the program,compared with the learning of students who had not.Which of the following elements was assessed?
A) Inputs.
B) Outputs.
C) Impacts.
D) Value creation.
Q2) What is one reason that firms partner with communities to increase economic development?
A) To expand environmental sustainability.
B) To develop workplace skills.
C) To control the rate of entrepreneurship.
D) To avoid paying higher taxes.
Q3) Foreign-owned corporations use foundations:
A) More frequently than U.S. firms.
B) Less frequently than U.S. firms.
C) About as often as U.S. firms.
D) Only for setting up disaster relief.
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Chapter 19: The Public and Corporate Reputation
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Q1) Which of these statements is (are)true regarding the general public?
A) They deal with businesses through an economic exchange.
B) This organizational stakeholder consists of individuals and groups found in society.
C) They are unable to influence a firm's reputation.
D) All of the above.
Q2) Global businesses that have extended their public relations strategies worldwide should:
A) Ensure that communications with local media take place in the area's native language.
B) Never decentralize their global public relations programs to ensure the company has "one voice."
C) Assume that there is no anti-American sentiment in the countries where they have operations.
D) Ignore local customs and emerging issues in the locations where they operate.
Q3) The variety of communications channels for public relations departments has decreased due to combined technology options.
A)True
B)False
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