Corporate Social Responsibility (CSR)

The early definition of corporate social responsibility was

• maximizing profits

• accomplishing the firm's social action goals. 

• seriously considering the impact of the company's actions on society. 

• that the corporation had not only economic and legal obligations, but also certain responsibilities to society which extended beyond those obligations. 

 Corporate social responsibility emphasizes

• socially responsible investing. 

• obligation and accountability. 

• action and activity. 

• outcomes and results. 

The classical view of economics holds that a society can best determine its needs and wants through

• democracy. 

• government owned factors of production

• the marketplace. 

• a centrally planned economy. 

The concept of business responsibility based on using laws to constrain business behavior is referred to as the

• stakeholder model. 

• socialist model. 

• legal model. 

• neoclassical economic model

The concept of business responsibility that is based on concern for the various groups that are affected by a business is known as the

• legal model 

• stakeholder model

• ethical model

• neoclassical mode

Which of the following practices is not a modification of the classical economic model?

• philanthropy

• community obligations 

• owner model

• paternalism

 The most efficient use of corporate wealth to benefit the public is though contributions to charity and other worthy causes which is called ____.

• taxation

• philanthropy

• paternalism

• corporate welfare

The first and primary argument for corporate social responsibility is

• it is a way to gain more power. 

• it is in business's long range interest to be socially responsible. 

• business is best equipped to handle social problems. 

• the free-market economic system has proven to be ineffective in dealing with social problems. 

The relationship between corporate social performance and financial performance is viewed from three different perspectives. The perspective that views social responsibility as a "fair weather" concept

• has been studied extensively. 

• views social responsibility as driven by the firm's financial performance. 

• is the most popular of the three perspectives. 

• sees an interactive relationship among social performance, financial performance, and corporate reputation. 

The relationship between corporate social performance and financial performance is viewed from three different perspectives. The symbiotic view

• states that financial performance determines social performance. 

• high social performance leads to improved financial performance. 

• is synonymous with the contingency view of Husted. 

• states that there is an interactive relationship among social performance, financial performance, and corporate reputation.