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(Answer) MGMT 200 Quiz 3 Week 5

QUESTIONS

Question 1

Corporate social responsibility involves an organization’s duty and obligation to respond to stakeholders and stockholders economic, legal, ethical, and philanthropic concerns and issues

  • True
  • False

Question 2

Free-Market theory does not imply that a business should aim to make a profit

  • True
  • False

Question 3

Inequality of information available to companies and stakeholders is not necessarily attributable to imperfect markets

  • True
  • False

Question 4

As described in our reading material, the two general types of intermediaries to help bridge disclosure gaps are information and non-financial.

  • True
  • False

Question 5

The free-market system has been more accurately described by Paul Samuelson as a “Mixed Economy”

  • True
  • False

Question 6

The stakeholder management approach of the corporation is grounded in the concept of a social contract

  • True
  • False

Question 7

The social contract between a corporation and its stakeholders is often based on explicit agreements alone.

  • True
  • False

Question 8

The covenantal ethic concept is not related to the social contract and should not be considered in the stakeholder management approach

  • True
  • False

Question 9

Corporations practice social responsibility in several ways, also known as “External Engagements”

  • True
  • False

Question 10

One of the things that Keith Davis argues is that the social responsibility of corporations is based on social power.

  • True
  • False

ANSWERS

Question 1

Corporate social responsibility involves an organization’s duty and obligation to respond to stakeholders and stockholders economic, legal, ethical, and philanthropic concerns and issues

  • True
  • False

Correct Answer: True

Question 2

Free-Market theory does not imply that a business should aim to make a profit

  • True
  • False

Correct Answer: False

Question 3

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