BA 342 Final Exam (2024) || With Complete Questions & Answers (Graded A+)

BA 342 Final Exam (2024) || With Complete Questions & Answers (Graded A+) BA 342 Final Exam (2024) || With Complete Questions & Answers (Graded A+) Responsibility & Responsible Leadership Definition - ANSWER - Responsibility: The ability or authority to act or decide on one's own without supervision Responsible Leadership: Making business decisions that... takes into account stakeholders, such as workers, clients, suppliers, the environment, the community and FUTURE GENERATIONS" Hurricane's Cases (Wal-Mart Pros and Cons) - ANSWER - FEMA failed miserably, but the business community saved us (Walmart) Pro: Walmart was the first to arrive in New Orleans, giving everybody free food and water Con: Walmart dismissed blame after one of it trucks struck Tracey Morgan's limo van in early 2014, causing legal action and negative PR attention for Walmart Doug McMillon Walmart Initiatives - ANSWER - -100% renewable energy -Forests - Zero Net Deforestation -100% recycled packaging -Sustainability throughout the Supply Chain Communities $1.4 Billion in donations/year Theme: McMillon: "We have to be a stakeholder corporation, we have to work very hard on the pros of our business model" What makes a good citizen?- the elements - ANSWER - CEO's are thinking about stakeholders Citizenship 3 Part Definition (Traditional) - ANSWER - 1. Corporate social responsibility: emphasis on obligation and accountability 2. Corporate social responsiveness: emphasis on action & activity 3. Corporate social performance: emphasis on outcomes and results License to Operate (what does this mean?) - ANSWER - the right to do business informally conferred by society on a business firm; must be earned through socially responsible behavior Business Case for CSR - ANSWER - 1. Innovation: New Business 2. Cost savings: Customer retention 3. Brand Differentiation: Better relation stakeholders 4. Long-Term Thinking: Attract/Retain Employees 5. Customer Engagement: Decrease Costs 6. Employee Engagement: Enhanced Reputation Pressure for CSR (4 ways business responds) - ANSWER - Defensive (Garments) -> Cost/Benefit (DuPont) -> Strategic (IBM) -> Innovation (Tesla) CVS & Patagonia - ANSWER - CVS strategy was they went from just a store to a now a health care store. Innovation: they want to flip the health care model Corporate Performance - Financial & Social - ANSWER - - Perspective 1: Socially responsible firms are more financially profitable - Perspective 2: Financial performance is a driver of its social performance - *Perspective 3: Interactive relationship between and among social, financial and corporate reputation Notes: Positive social performance and positive financial performance go hand in hand. Unilever Video & website (goals, (3), sustainable living (components)