Introduction to Business Exam Bank
Course Introduction
Introduction to Business provides students with a comprehensive overview of the fundamental concepts and functions of the business world. The course examines the various types of businesses, the roles of entrepreneurs, and the structure of organizations within different industries. Key areas covered include marketing, management, finance, human resources, and operations. Students will also learn about current trends, ethical issues, and the global nature of business, gaining essential knowledge and skills to understand how businesses operate and succeed in todays competitive environment.
Recommended Textbook
Canadian Business and Society Ethics Responsibilities and Sustainability 3rd Edition by Robert W.
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16 Chapters
1160 Verified Questions
1160 Flashcards
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Page 2
Chapter 1: The Relationship Between Business and Society
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75 Verified Questions
75 Flashcards
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Sample Questions
Q1) A system based on a capitalistic market always leads to the equitable distribution of income.
A)True
B)False
Answer: False
Q2) In order for a business to be legitimate,the business enterprise system must report positive profits and pay dividends to shareholders on a consistent basis.
A)True
B)False
Answer: False
Q3) Self-interest by firms is an issue that the Canadian public consistently identifies as a negative attribute of the business enterprise system.
A)True
B)False
Answer: False
Q4) When resolving ethical issues,automatic decisions are reliable.
A)True
B)False Answer: False
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Chapter 2: Ethics and Capitalism
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87 Flashcards
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Sample Questions
Q1) Canadian governmental regulation on telecommunications,transportation,and banking industries does all of the following,except:
A) restrict competition
B) restricts foreign ownership
C) increases competition
D) restricts entry to the industry
E) reduced consumer choice
Answer: C
Q2) Self-interest can be a benefit of capitalism.
A)True
B)False
Answer: False
Q3) Competition ensures that if excessive profits are made,others will be attracted to the industry.
A)True
B)False
Answer: True
Q4) Define the "right to private property" and provide four rationales for this right. Answer: Answers will vary
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Chapter 3: Identifying Stakeholders and Issues
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83 Flashcards
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Sample Questions
Q1) When an organization is in the process of describing and evaluating an issue so that consensus is achieved among managers it is in which step of the issues management process?
A) Identification of issues
B) Analysis of issues
C) Ranking or prioritizing of issues
D) Formulating issue response
E) Implementing issue response
Answer: B
Q2) Management consultants are not stakeholders because they are not employees of the company.
A)True
B)False
Answer: False
Q3) Lenders and Creditors are stakeholders that can be taken for granted because their influence is small as there are many lending institutions.
A)True
B)False
Answer: False
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Page 5
Chapter 4: Stakeholder and Issue Analysis
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Sample Questions
Q1) If a definitive stakeholder loses an attribute no salience exists.
A)True
B)False
Q2) Nancy identifies that a particular NGO is a problematic stakeholder.This implies that the NGO will oppose the course of action proposed by Nancy's company and should be considered an important stakeholder.
A)True
B)False
Q3) Future generations affected by the effects of an oil company drilling at an environmentally sensitive location are _________ stakeholders and are therefore _____.
A) dormant; latent
B) definitive; definitive
C) discretionary; definitive
D) discretionary; latent
E) dormant; definitive
Q4) Outline and describe the 6 steps involved in FOSTERing stakeholder relationships.
Q5) Differentiate between stakeholder management and stakeholder collaboration.
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Page 6
Chapter 5: Ethics of Business: The Theoretical Basis
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Sample Questions
Q1) Business ethics is not concerned with rules and guidelines for morally right behaviour.
A)True
B)False
Q2) The ethic of caring is concerned with equality,not equity.
A)True
B)False
Q3) Daniel was considering whether or not he should submit the copy for the annual shareholder's report.He believes that the information does not fully disclose the truth regarding a planned merger.He wonders to himself: "What would my mom say if she found out what I was condoning?" Daniel is applying which principle of ethical analysis?
A) Self-interest
B) Personal virtues
C) Ethic of caring
D) Utilitarian
E) Mother knows best
Q4) Compare implicit prejudice bias to overclaiming credit bias.
Q5) Describe what is meant by the universal rules ethic in term of how it applies to manager or corporations.
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Chapter 6: Ethics of Business: Management and Leadership
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Sample Questions
Q1) Nash's model of ethics training is referred to as:
A) Categorical imperative
B) Utilitarianism
C) Ventilation test
D) Good puppy theory
E) Good person test
Q2) Criterion used to evaluate ethics programs include all of the following except
A) Resource commitment
B) CEO's commitment
C) Extent of communication
D) Training and education
E) Feedback
Q3) In an organization that not only completely lacks high standards of ethical behaviour,but is devoid of ethical principles and actively opposed to what is moral,the appropriate model of management and leadership is called "Amoral".
A)True
B)False
Q4) A statement of values is the basis for a code of ethics.
A)True
B)False
Page 8
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Chapter 7: Corporate Social Responsibility: The Concept
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Sample Questions
Q1) Being a good corporate citizen falls under which kind of social responsibility depicted in the pyramid of social responsibility?
A) Economic responsibilities
B) Legal responsibilities
C) Managerial responsibilities
D) Ethical responsibilities
E) Philanthropic responsibilities
Q2) Which of the following statements are consistent with the Social View of social responsibility?
A) Concludes that firms are social institutions
B) Society sanctions firms to operate
C) The firm has economic responsibility
D) A and B but not C
E) All of the answers.
Q3) Social impact management focuses on corporations' impact on society and the environment,rather than the influence exerted by society over business actions.
A)True
B)False
Q4) What is ISO 26000?
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Chapter 8: Corporate Social Responsibility: In Practice
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Sample Questions
Q1) A Calgary company is hoping to improve conditions for the working homeless in their city.Working closely with non-profit organizations in Calgary,the company is giving both time and money to help the nonprofits.The idea is to give long term support,leadership,and needed resources to help the nonprofits work efficiently on this problem.The Calgary company's involvement is best characterized as
A) social venture philanthropy
B) cause-related marketing
C) strategic giving
D) corporate volunteerism
E) corporate donation
Q2) Cause-related marketing is likely to continue given the reduction in government funding for charitable organizations.
A)True
B)False
Q3) Corporate volunteerism is the contribution of time to charitable causes with or without the consent of employers.
A)True
B)False
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Page 10
Chapter 9: Measuring,reporting,and Communicating CSR
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Sample Questions
Q1) The ________ is a socially screened,common stock index modelled on the S&P/TSX 60 of 60 corporations that have passed a set of broadly based environmental,social,and governance rating criteria.
A) JSI
B) TSX
C) Dow Jones
D) S&P 500
E) NASDAQ
Q2) An alternative view on the relationship between CSR and profitability,taken by ____________________ is to calculate the return of investment of CSR by thinking in terms of creating value.
A) Imagine Canada
B) Global Reporting Index
C) Global Reporting Initiative
D) the Network for Business Sustainability
E) the Association of Sustainable Organizations
Q3) Discuss the fad-and-fade scenario developed by White.
Q4) Is there a definitive relationship between CSR and profitability?
Q5) Compare Strandberg's CSR Lite to Deep CSR in the continuum of future commitment to CSR.
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Chapter 10: Regulating Business Ethics and Responsibilities
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Sample Questions
Q1) Summarize three ways in which businesses are involved in politics.
Q2) The Canadian Standards Association is a non-profit organization servicing business,industry,and consumers.This form of regulation is:
A) Laissez-faire market
B) Corporate self-discipline
C) Industry
D) Self-regulation involving stakeholders
E) Negotiated self-regulation
Q3) Privatization can take many forms.These forms include all of the following,except:
A) Divestiture
B) Contracting out
C) Monopoly franchise
D) Management contracts
E) Bailouts
Q4) refers to the involvement of the Canadian government in the mining of gold in Canada to prevent the abuse of women and children working in the mines.
A)True
B)False
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Page 12
Chapter 11: Responsible Ownership and Governance
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Sample Questions
Q1) When and under what circumstances did corporate governance become an issue with the media?
Q2) The total level of investment in "responsible funds" is surprising large,compared to the total invested in the total mutual funds market.
A)True
B)False
Q3) Shareholders of an organization influence and are influenced by the actions of other stakeholders.
A)True
B)False
Q4) About 12% of Canada's top 500 corporate directors are women.
A)True
B)False
Q5) There are many influential stakeholders in a corporation,but corporations ultimately exist to serve the shareholders.
A)True
B)False
Q6) How has Mountain Equipment Co-op implemented ethics and integrity into their business model?
Page 13
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Chapter 12: Ethics and Responsibilities in the Workplace and Marketplace
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Sample Questions
Q1) The federal government has enacted legislation which requires that corporations implement employment equity.
A)True
B)False
Q2) The Competition Act governs business conduct.The Act covers all of the following,except:
A) Conspiracy
B) Abuse of dominant position
C) Predatory pricing
D) Review of mergers
E) Producer sovereignty
Q3) What ethical issues are related to working conditions?
Q4) Sustainability purchasing applies only to the upstream end of the value chain.
A)True
B)False
Q5) The work ethic had its beginnings in communism.
A)True
B)False
Q7) What are the origins of the work ethic concept? Page 14
Q6) Describe the basic principles of consumer sovereignty.
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Page 15
Chapter 13: Civil Society Stakeholders
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Sample Questions
Q1) If a corporation places high value on its branding,a __________ response to NGO pressure is most logical.
A) resistance
B) capitulation
C) preemption
D) competitive
E) negotiated
Q2) Philanthropic partnerships have supported and empowered NGOs.
A)True
B)False
Q3) Policy development institutes in Canada are not:
A) Think tanks
B) Research organizations
C) Lobbyists
D) Focused on influencing government policy
E) Representative of particular ideologies
Q4) Strategies used to counter resistance include capitulation.
A)True
B)False
Q5) What are the issues that have arisen as a result of media ownership?
Page 16
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Chapter 14: The Environment and Business Responsibilities
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Sample Questions
Q1) Compare the concepts of "sustainable development" to "business sustainable development".
Q2) PDF Corporation has exceeded its targets for carbon reduction.ABC Corporation cannot meet its targets,so it is possible for ABC to purchase all of the following credits from PDF Corporation,except:
A) Carbon offsets
B) Emissions reduction credits
C) Greenhouse gas credits
D) Cap and trade
E) Tax credits
Q3) The 4 Rs of Recycling include all the following,except:
A) Reclaim
B) Reduce
C) Reuse
D) Recycle
E) Recover
Q4) ENGOs are groups that hold shared values or attitudes about challenges confronting the environment.
A)True
B)False
Page 17
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Chapter 15: Globalization and Business Responsibilities
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Sample Questions
Q1) The accomplishment of the United Nations' Millennium Development Goals does not reflect any features of capitalism.
A)True
B)False
Q2) Advertising practices must be honest,and consumers must be fairly treated according to the __________ principle of the standards of conduct for multinational corporations.
A) competition
B) corrupt practice
C) sociocultural objectives and values
D) stakeholder consideration
E) advertising is not an element in the standards of conduct for multinational corporations
Q3) Globalists favour the transfer of capital and technology.
A)True
B)False
Q4) NAFTA is a result of economic globalization.
A)True
B)False
Q5) Describe an INGO and provide two examples of such organizations.
Page 18
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Chapter 16: The Socialization of Capitalism
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Sample Questions
Q1) Porter and Kramer categorize a corporation's involvement in society into two approaches,responsive and strategic.
A)True
B)False
Q2) Corporate culture is a complex set of values,beliefs,symbols,and assumptions that define the way an organization conducts its business.
A)True
B)False
Q3) Strategic management is a process through which the corporation establishes all of the following,except:
A) Mission
B) Objectives
C) Policies
D) Resource capabilities
E) Environmental capabilities
Q4) Monitoring and evaluation are not important in the process of sustainability management.Do you agree or disagree?
Q5) What is the major difference between the mission statement and the vision statement?
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