Question 1

Arrow claims that a mechanism for coercing firms to accept social responsibility must first:

Accepted Answer

A)   Square with profit motivation
B)   Have legal authority
C)   Have government support
D)   Have the support of the local community
E)   Have the support of the firm's employeesF) B) and D)
G) B) and C)

Question 2

Marcoux argues that shareholder-oriented businesses are unethical.

Accepted Answer

A) True 
 B)False

Question 3

Arrow does not think that defenders of unrestricted profit maximization usually assume that the consumer is well informed.

Accepted Answer

A) True 
 B)False

Question 4

According to Argenti, in order for a CSR campaign to be successful, it must

Accepted Answer

A)   Be authentic
B)   Be in line with the brand image
C)   Attentive to what the public demands
D)   a. and b.
E)   a., b. and c.F) A) and E)
G) B) and D)

Question 5

Explain the "polestar" argument. What is Stone's criticism of it? How might Friedman respond to Stone?

Accepted Answer

The "polestar" argument is a concept put...

Question 6

Consider a particular corporate social responsibility (CSR) strategy or project pursued by a company whose products or services you consume. How does this company communicate to its consumers about its CSR commitments? In what ways does its CSR commitments raise the company's costs? In what ways might such commitments improve the company's bottom line?

Accepted Answer

One example of a company with a strong c...

Question 7

The Beech-Nut Nutrition Corporation admittedly deceived the public by selling __________ apple juice under the labeling of __________ apple juice.

Accepted Answer

imitation,...

Question 8

Write a debate between Friedman and Arrow on social responsibility and economic efficiency. What would Friedman think of Arrow's proposal that businesses could be made more efficient by following moral codes (such as the moral codes followed in other professions like medicine and the law)?

Accepted Answer

Friedman: I believe that the primary res...

Question 9

Friedman believes that conceiving of the executive as a(n) __________ of the stockholders is the best way to think of their relationship.

Accepted Answer

The answer of Friedman believes that conceiving of the executive...

Question 10

Every corporation must have an external decision making structure, according to French.

Accepted Answer

A) True 
 B)False

Question 11

Friedman thinks that people, and NOT businesses, have:

Accepted Answer

A)   Inherent value
B)   Responsibilities
C)   Ethical codes
D)   To be watchful of businesses
E)   All of the aboveF) A) and B)
G) A) and E)

Question 12

Stone criticizes the agency argument against corporate social responsibility because:

Accepted Answer

A)   The corporation has not made explicit promises to shareholders.
B)   In the real world, the shareholders rarely select the directors.
C)   Directors have no more moral accountability to the shareholders than to other people.
D)   Corporate social responsibility is rationally indefensible.
E)   The law does not hold that directors are mere agents of the shareholders.F) A) and E)
G) None of the above

Question 13

Stone thinks that the polestar argument successfully proves that businesses should act to maximize profit.

Accepted Answer

A) True 
 B)False

Question 14

In response to growing demands from millennials for cruelty-free meat, __________ changed the way it raises and slaughters its livestock, even though this increased its costs.

Accepted Answer

The answer of In response to growing demands from millennials...

Question 15

What is Marcoux's concern about "managerial accountability"?

Accepted Answer

A)   Managers are not qualified to make social responsibility decisions.
B)   Managers who must consider all stakeholders will be overworked.
C)   Managers who must consider all stakeholders can hide self-serving behavior.
D)   Managers who must consider all stakeholders cannot be altruistic.
E)   A manager who considers all stakeholders will make the accountant's job difficult.F) A) and E)
G) C) and E)

Question 16

Berle compiled data from Gardiner Means to:

Accepted Answer

A)   Examine how markets had become dangerously concentrated
B)   See how shareholders had wrested power from the senior managers
C)   Expose the seedy dealings of insider trades
D)   Show how a nation of farmers brought down the world's economy
E)   Do none of the aboveF) C) and D)
G) B) and C)

Question 17

According to Berle, responsibility for preventing another economic crisis rests with:

Accepted Answer

A)   Large corporations
B)   Small businesses and farms
C)   Economists
D)   The government
E)   All citizensF) A) and D)
G) C) and D)

Question 18

According to Friedman, a(n) ______________ cannot have responsibilities.

Accepted Answer

The answer of According to Friedman, a(n) ______________ cannot have...

Question 19

How is the current financial crisis similar to that of the Great Depression? How does Parker frame these similarities? Does Berle's analysis of the financial situation of yore bear any relevance to today?

Accepted Answer

The current financial crisis shares seve...

Question 20

Marcoux thinks that stakeholder theory is not as bad as some forms of corporate responsibility theory. Why?

Accepted Answer

A)   Stakeholder theory lets businesses consider the interests of employees and suppliers.
B)   Stakeholder theory aims to improve capitalism without overthrowing it.
C)   Stakeholder theory allows businesses to still pursue profit.
D)   Stakeholder theory suggests moral codes that are voluntary, not legally enforced.
E)   Stakeholder theory still gives some importance to the interests of the larger community.F) A) and C)
G) D) and E)

Exam 5: "Is the Social Responsibility of Business...to Increase Its Profits"?: Social Responsibility and Stakeholder Theory

Arrow claims that a mechanism for coercing firms to accept social responsibility must first:

Correct Answer
verified

The Beech-Nut Nutrition Corporation admittedly deceived the public by selling apple juice under the labeling of apple juice.

Correct Answer
verified
imitation,...
View Answer

Every corporation must have an external decision making structure, according to French.

Correct Answer
verified

According to Friedman, a(n) ______________ cannot have responsibilities.

Correct Answer
verified

Explain the "polestar" argument. What is Stone's criticism of it? How might Friedman respond to Stone?

Correct Answer
Answered by ExamLex AI
The "polestar" argument is a concept put...
View Answer

Stone criticizes the agency argument against corporate social responsibility because:

Correct Answer
verified

According to Berle, responsibility for preventing another economic crisis rests with:

Correct Answer
verified

What is Marcoux's concern about "managerial accountability"?

Correct Answer
verified

Marcoux argues that shareholder-oriented businesses are unethical.

Correct Answer
verified

Arrow does not think that defenders of unrestricted profit maximization usually assume that the consumer is well informed.

Correct Answer
verified

According to Argenti, in order for a CSR campaign to be successful, it must

Correct Answer
verified

Berle compiled data from Gardiner Means to:

Correct Answer
verified

Stone thinks that the polestar argument successfully proves that businesses should act to maximize profit.

Correct Answer
verified

Marcoux thinks that stakeholder theory is not as bad as some forms of corporate responsibility theory. Why?

Correct Answer
verified

Friedman thinks that people, and NOT businesses, have:

Correct Answer
verified

Write a debate between Friedman and Arrow on social responsibility and economic efficiency. What would Friedman think of Arrow's proposal that businesses could be made more efficient by following moral codes (such as the moral codes followed in other professions like medicine and the law)?

Correct Answer
Answered by ExamLex AI
Friedman: I believe that the primary res...
View Answer

Friedman believes that conceiving of the executive as a(n) __________ of the stockholders is the best way to think of their relationship.

Correct Answer
verified

How is the current financial crisis similar to that of the Great Depression? How does Parker frame these similarities? Does Berle's analysis of the financial situation of yore bear any relevance to today?

Correct Answer
Answered by ExamLex AI
The current financial crisis shares seve...
View Answer

In response to growing demands from millennials for cruelty-free meat, __________ changed the way it raises and slaughters its livestock, even though this increased its costs.

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
One example of a company with a strong c...
View Answer

Exam 5: "Is the Social Responsibility of Business...to Increase Its Profits"?: Social Responsibility and Stakeholder Theory

Arrow claims that a mechanism for coercing firms to accept social responsibility must first:

Correct AnswerverifiedShow Answer

The Beech-Nut Nutrition Corporation admittedly deceived the public by selling __________ apple juice under the labeling of __________ apple juice.

Correct Answerverifiedimitation,...View AnswerShow Answer

Every corporation must have an external decision making structure, according to French.

Correct AnswerverifiedShow Answer

According to Friedman, a(n) ______________ cannot have responsibilities.

Correct AnswerverifiedShow Answer

Explain the "polestar" argument. What is Stone's criticism of it? How might Friedman respond to Stone?

Correct AnswerAnswered by ExamLex AIThe "polestar" argument is a concept put...View AnswerShow Answer

Stone criticizes the agency argument against corporate social responsibility because:

Correct AnswerverifiedShow Answer

According to Berle, responsibility for preventing another economic crisis rests with:

Correct AnswerverifiedShow Answer

What is Marcoux's concern about "managerial accountability"?

Correct AnswerverifiedShow Answer

Marcoux argues that shareholder-oriented businesses are unethical.

Correct AnswerverifiedShow Answer

Arrow does not think that defenders of unrestricted profit maximization usually assume that the consumer is well informed.

Correct AnswerverifiedShow Answer

According to Argenti, in order for a CSR campaign to be successful, it must

Correct AnswerverifiedShow Answer

Berle compiled data from Gardiner Means to:

Correct AnswerverifiedShow Answer

Stone thinks that the polestar argument successfully proves that businesses should act to maximize profit.

Correct AnswerverifiedShow Answer

Marcoux thinks that stakeholder theory is not as bad as some forms of corporate responsibility theory. Why?

Correct AnswerverifiedShow Answer

Friedman thinks that people, and NOT businesses, have:

Correct AnswerverifiedShow Answer

Write a debate between Friedman and Arrow on social responsibility and economic efficiency. What would Friedman think of Arrow's proposal that businesses could be made more efficient by following moral codes (such as the moral codes followed in other professions like medicine and the law)?

Correct AnswerAnswered by ExamLex AIFriedman: I believe that the primary res...View AnswerShow Answer

Friedman believes that conceiving of the executive as a(n) __________ of the stockholders is the best way to think of their relationship.

Correct AnswerverifiedShow Answer

How is the current financial crisis similar to that of the Great Depression? How does Parker frame these similarities? Does Berle's analysis of the financial situation of yore bear any relevance to today?

Correct AnswerAnswered by ExamLex AIThe current financial crisis shares seve...View AnswerShow Answer

In response to growing demands from millennials for cruelty-free meat, __________ changed the way it raises and slaughters its livestock, even though this increased its costs.

Correct AnswerverifiedShow Answer

Correct AnswerAnswered by ExamLex AIOne example of a company with a strong c...View AnswerShow Answer

Correct Answer
verified

The Beech-Nut Nutrition Corporation admittedly deceived the public by selling apple juice under the labeling of apple juice.

Correct Answer
verified
imitation,...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
The "polestar" argument is a concept put...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
Friedman: I believe that the primary res...
View Answer

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
The current financial crisis shares seve...
View Answer

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
One example of a company with a strong c...
View Answer