Complete Test Bank km km
Business and Society: Stakeholders Ethics Publi
km km km km km
c Policy km
17TH Editionkm
by Anne Lawrence (Author), James Weber
km km km km km
All Chapters| Latest
km km
1 |P a g
km km km km km
e
, Chapter 1- km
19 Answers are at the end of Each chapter Chapter 1
km km km km km km km km km km
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
km km km km km km km km km km km km km km km
1) A business is any organization that is engaged in making a product or providing a service for a profit.
km km km km km km km km km km km km km km km km km km
⊚ true
km
⊚ false
km
2) The term stakeholder refers exclusively to the founders of a business organization.
km km km km km km km km km km km
⊚ true
km
⊚ false
km
3) Businesses and society are independent of each other.
km km km km km km km
⊚ true
km
⊚ false
km
4) The stakeholder theory of the firm argues that a firm‘s sole purpose is to create long-
km km km km km km km km km km km km km km km
term value for its shareholders.
km km km km
⊚ true
km
⊚ false
km
5) The instrumental argument for the stakeholder theory of the firm says that companies perform bett
km km km km km km km km km km km km km km
er if they consider the rights and concerns of multiple groups in society.
km km km km km km km km km km km km
⊚ true
km
⊚ false
km
6) The normative argument for the stakeholder theory of the firm says that the stakeholder view is simp
km km km km km km km km km km km km km km km km
ly a more realistic description of how companies really work.
km km km km km km km km km
⊚ true
km
⊚ false
km
2 |P a g
km km km km km
e
,7) Nonmarket stakeholders are those that engage in economic transactions with the company as it carri
km km km km km km km km km km km km km km
es out its primary purpose of providing society with goods and services.
km km km km km km km km km km km
⊚ true
km
⊚ false
km
8) Market stakeholders include nongovernmental organizations and business support groups.
km km km km km km km km
⊚ true
km
⊚ false
km
9) Government can be considered both a market and a nonmarket stakeholder.
km km km km km km km km km km
⊚ true
km
⊚ false
km
10) The interests of different stakeholders often coincide.
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⊚ true
km
⊚ false
km
11) The first step of stakeholder analysis is to identify relevant stakeholders.
km km km km km km km km km km
⊚ true
km
⊚ false
km
12) Some scholars have suggested that managers pay the most attention to stakeholders possessing the least salien
km km km km km km km km km km km km km km km
ce.
⊚ true
km
⊚ false
km
13) The organization of a corporation‘s boundary-spanning functions is complex.
km km km km km km km km
⊚ true
km
⊚ false
km
3 |P a g
km km km km km
e
, 14) Businesses are increasingly trying to meet their commitments to multiple stakeholders.
km km km km km km km km km km
⊚ true
km
⊚ false
km
15) The external environment of business is static.
km km km km km km
⊚ true
km
⊚ false
km
MULTIPLE CHOICE - km km
Choose the one alternative that best completes the state
km km km km km km km km km
ment or answers the question.
km km km km
16) The relationship between business and society is most accurately described by which statement?
km km km km km km km km km km km km
A) Business is an unbounded entity within the larger bounded entity of society.
km km km km km km km km km km km
B) Society is a distinct bounded entity within the larger bounded entity of business.
km km km km km km km km km km km km
C) Business is a distinct bounded entity separate from the bounded entity of society.
km km km km km km km km km km km km
D) Business is a distinct bounded entity within the larger bounded entity of society.
km km km km km km km km km km km km
17) According to general systems theory, boundary exchanges are exemplified by which of the following?
km km km km km km km km km km km km km
A) An industrial company installs new equipment in its plant to comply with environmental regulations.
km km km km km km km km km km km km km
B) A software company develops an application for a client.
km km km km km km km km
C) A purchasing department employee negotiates a price on parts with a supplier.
km km km km km km km km km km km
D) All of these choices are correct.
km km km km km
18) The inseparable relationship between business and society results in which of the following?
km km km km km km km km km km km km
A) All business decisions have a social impact.
km km km km km km
B) The vitality of business depends on society's actions and attitudes.
km km km km km km km km km
C) The survival of business is independent of society.
km km km km km km km
D) Both ―All business decisions have a social impact‖ and ―The vitality of business depends on society‘s act
km km km km km km km km km km km km km km km km
ions and attitudes‖ are correct.
km km km km
4 |P a g
km km km km km
e
Business and Society: Stakeholders Ethics Publi
km km km km km
c Policy km
17TH Editionkm
by Anne Lawrence (Author), James Weber
km km km km km
All Chapters| Latest
km km
1 |P a g
km km km km km
e
, Chapter 1- km
19 Answers are at the end of Each chapter Chapter 1
km km km km km km km km km km
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
km km km km km km km km km km km km km km km
1) A business is any organization that is engaged in making a product or providing a service for a profit.
km km km km km km km km km km km km km km km km km km
⊚ true
km
⊚ false
km
2) The term stakeholder refers exclusively to the founders of a business organization.
km km km km km km km km km km km
⊚ true
km
⊚ false
km
3) Businesses and society are independent of each other.
km km km km km km km
⊚ true
km
⊚ false
km
4) The stakeholder theory of the firm argues that a firm‘s sole purpose is to create long-
km km km km km km km km km km km km km km km
term value for its shareholders.
km km km km
⊚ true
km
⊚ false
km
5) The instrumental argument for the stakeholder theory of the firm says that companies perform bett
km km km km km km km km km km km km km km
er if they consider the rights and concerns of multiple groups in society.
km km km km km km km km km km km km
⊚ true
km
⊚ false
km
6) The normative argument for the stakeholder theory of the firm says that the stakeholder view is simp
km km km km km km km km km km km km km km km km
ly a more realistic description of how companies really work.
km km km km km km km km km
⊚ true
km
⊚ false
km
2 |P a g
km km km km km
e
,7) Nonmarket stakeholders are those that engage in economic transactions with the company as it carri
km km km km km km km km km km km km km km
es out its primary purpose of providing society with goods and services.
km km km km km km km km km km km
⊚ true
km
⊚ false
km
8) Market stakeholders include nongovernmental organizations and business support groups.
km km km km km km km km
⊚ true
km
⊚ false
km
9) Government can be considered both a market and a nonmarket stakeholder.
km km km km km km km km km km
⊚ true
km
⊚ false
km
10) The interests of different stakeholders often coincide.
km km km km km km
⊚ true
km
⊚ false
km
11) The first step of stakeholder analysis is to identify relevant stakeholders.
km km km km km km km km km km
⊚ true
km
⊚ false
km
12) Some scholars have suggested that managers pay the most attention to stakeholders possessing the least salien
km km km km km km km km km km km km km km km
ce.
⊚ true
km
⊚ false
km
13) The organization of a corporation‘s boundary-spanning functions is complex.
km km km km km km km km
⊚ true
km
⊚ false
km
3 |P a g
km km km km km
e
, 14) Businesses are increasingly trying to meet their commitments to multiple stakeholders.
km km km km km km km km km km
⊚ true
km
⊚ false
km
15) The external environment of business is static.
km km km km km km
⊚ true
km
⊚ false
km
MULTIPLE CHOICE - km km
Choose the one alternative that best completes the state
km km km km km km km km km
ment or answers the question.
km km km km
16) The relationship between business and society is most accurately described by which statement?
km km km km km km km km km km km km
A) Business is an unbounded entity within the larger bounded entity of society.
km km km km km km km km km km km
B) Society is a distinct bounded entity within the larger bounded entity of business.
km km km km km km km km km km km km
C) Business is a distinct bounded entity separate from the bounded entity of society.
km km km km km km km km km km km km
D) Business is a distinct bounded entity within the larger bounded entity of society.
km km km km km km km km km km km km
17) According to general systems theory, boundary exchanges are exemplified by which of the following?
km km km km km km km km km km km km km
A) An industrial company installs new equipment in its plant to comply with environmental regulations.
km km km km km km km km km km km km km
B) A software company develops an application for a client.
km km km km km km km km
C) A purchasing department employee negotiates a price on parts with a supplier.
km km km km km km km km km km km
D) All of these choices are correct.
km km km km km
18) The inseparable relationship between business and society results in which of the following?
km km km km km km km km km km km km
A) All business decisions have a social impact.
km km km km km km
B) The vitality of business depends on society's actions and attitudes.
km km km km km km km km km
C) The survival of business is independent of society.
km km km km km km km
D) Both ―All business decisions have a social impact‖ and ―The vitality of business depends on society‘s act
km km km km km km km km km km km km km km km km
ions and attitudes‖ are correct.
km km km km
4 |P a g
km km km km km
e
