SI CHEN EXAM 2 MBA 706 SCRIPT
COMPLETE ANSWERS GRADED A+
◉ Competence Trust
Answer: Trust built when a company's managers have the
required skills to do the job effectively and meet or exceed
expectations.
◉ Honesty Trust
Answer: Trust built when a firm consistently tells the truth and
keeps promises.
◉ Benevolence Trust
Answer: Trust built when companies demonstrate genuine
concern about the interests and goals of customers and
employees.
◉ Socially Responsible Marketing
Answer: An approach that considers the broader impact of
marketing activities on society, the environment, and the
marketplace.
◉ Triple Bottom Line
Answer: The concept that a company's responsibility includes
people (social), planet (sustainability), and profit (monetary).
, ◉ Stakeholders
Answer: All entities directly or indirectly influenced by the actions
of the company, including shareholders, employees, customers,
and society.
◉ Shareholders
Answer: Those who actually own the firm.
◉ Corporate Social Responsibility
Answer: A company's initiatives and responsibilities related to the
ethical and societal impact of its operations, often focusing on fair
labor, environmental concerns, and community involvement.
◉ Bottom of the Pyramid (BOP)
Answer: The largest but poorest group of the world's population,
living on less than $2.50 a day.
◉ Reverse Innovation
Answer: Adopting successful solutions developed for developing
markets to create inexpensive products for developed markets.
◉ Cause Marketing
Answer: Linking a firm's contributions to a designated cause to
customers' revenue-producing transactions with the firm.
COMPLETE ANSWERS GRADED A+
◉ Competence Trust
Answer: Trust built when a company's managers have the
required skills to do the job effectively and meet or exceed
expectations.
◉ Honesty Trust
Answer: Trust built when a firm consistently tells the truth and
keeps promises.
◉ Benevolence Trust
Answer: Trust built when companies demonstrate genuine
concern about the interests and goals of customers and
employees.
◉ Socially Responsible Marketing
Answer: An approach that considers the broader impact of
marketing activities on society, the environment, and the
marketplace.
◉ Triple Bottom Line
Answer: The concept that a company's responsibility includes
people (social), planet (sustainability), and profit (monetary).
, ◉ Stakeholders
Answer: All entities directly or indirectly influenced by the actions
of the company, including shareholders, employees, customers,
and society.
◉ Shareholders
Answer: Those who actually own the firm.
◉ Corporate Social Responsibility
Answer: A company's initiatives and responsibilities related to the
ethical and societal impact of its operations, often focusing on fair
labor, environmental concerns, and community involvement.
◉ Bottom of the Pyramid (BOP)
Answer: The largest but poorest group of the world's population,
living on less than $2.50 a day.
◉ Reverse Innovation
Answer: Adopting successful solutions developed for developing
markets to create inexpensive products for developed markets.
◉ Cause Marketing
Answer: Linking a firm's contributions to a designated cause to
customers' revenue-producing transactions with the firm.
