Chapter 3 Quiz

Corporate Power is ______

• how corporations are influenced by the government

• how corporations influence people, the government, and the economy

• the economic strength of a company, compared to its competitors

• The price of a company's stock during trading hours

The Iron Law of Responsibility states that ______

• those who don't use power in ways society deems responsible will lose it eventually

• power tends to go to the people who can't use it properly

• power corrupts every person who holds it

• stakeholders should be responsible for all corporate decisions

What does CSR stand for?

• Corporate Stock Return

• Corporate Safety Regulations

• Customer Support Representative

• Corporate Social Responsibility

What is enlightened self-interest?

• Focusing solely on turning a profit for the corporation

• Providing value to stakeholders is best for a company in the long-run

• Stakeholders should be ignored when they don't agree with corporate policy

• Business decisions should be consolidated to upper management

Which of the following is true about Corporate Social Responsibility? (2 Correct Answers)

• It encourages government regulations

• Every company has the skill to implement it

• Promotes long-term profits

• Harms business relationships

• Balances corporate power

Difference between traditional and social entrepreneurs?

• Social entrepreneurs don't create organizations

• Traditional entrepreneurs are more often franchises

• Social entrepreneurs are more focused on core missions than economic benefits

• Social entrepreneurs are exclusively start-ups

What are the organizations founded by social entrepreneurs usually called?

• Social Ventures

• Social Businesses

• Social Funds

• No special name

B corporations are _____

• Side businesses of major corporations

• Franchises that corporations share profits from

• Solely socially-focused businesses

• Businesses that blend social and environmental goals with financial

Which is NOT a stage of corporate citizenship?

• Elementary

• Engaged

• Innovative

• Regressive

• Transforming

The process of revealing audit data to the public is called _____

• Social reporting

• Data dumping

• Corporate media

• Social contracting