BMAL-590 Week 2 Business Ethics/Stakeholder
Relationships, Social Responsibility, and Corporate
Governance Section 4 Exam Questions and Answer Grade
A+
Primary stakeholders: - Answer-those whose continued association is absolutely
necessary for a firm's survival; these include employees, customers, investors, and
shareholders, as well as the governments and communities that provide necessary
infrastructure.
Secondary stakeholders: - Answer-do not typically engage in transactions with a
company and thus are not essential for its survival; these include the media, trade
associations, and special-interest groups.
stakeholder orientation: - Answer-The degree to which a firm understands and
addresses stakeholder demands
stakeholder orientation comprises three sets of activities: - Answer-(1) the
organization-wide generation of data about stakeholder groups and assessment of
the firm's interactions with these groups, (2) the distribution of this information
throughout the firm, and (3) the organization's responsiveness as a whole to this
information.
, social responsibility and stakeholder orientation - Answer-business ethics embodies
standards, norms, and expectations that reflect a concern of major stakeholders,
including consumers, employees, shareholders, suppliers, competitors, and the
community. In other words, these stakeholders have concerns about what is fair,
just, or in keeping with respect to stakeholders' rights.
Many businesspeople and scholars have questioned the role of ethics and social
responsibility in business. Legal and economic responsibilities are generally
accepted as the most important determinants of performance.
ISO (expanded) - Answer-International Organization for Standardization
ISO - Answer-tried to establish a corporate responsibility standard, the ISO 26000;
although the ISO 26000 has been demoted to a guideline rather than a standard
four levels of social responsibility: - Answer-economic, legal, ethical, and
philanthropic
corporate citizenship: - Answer-express the extent to which businesses strategically
meet the economic, legal, ethical, and philanthropic responsibilities placed on them
by their various stakeholders.
Relationships, Social Responsibility, and Corporate
Governance Section 4 Exam Questions and Answer Grade
A+
Primary stakeholders: - Answer-those whose continued association is absolutely
necessary for a firm's survival; these include employees, customers, investors, and
shareholders, as well as the governments and communities that provide necessary
infrastructure.
Secondary stakeholders: - Answer-do not typically engage in transactions with a
company and thus are not essential for its survival; these include the media, trade
associations, and special-interest groups.
stakeholder orientation: - Answer-The degree to which a firm understands and
addresses stakeholder demands
stakeholder orientation comprises three sets of activities: - Answer-(1) the
organization-wide generation of data about stakeholder groups and assessment of
the firm's interactions with these groups, (2) the distribution of this information
throughout the firm, and (3) the organization's responsiveness as a whole to this
information.
, social responsibility and stakeholder orientation - Answer-business ethics embodies
standards, norms, and expectations that reflect a concern of major stakeholders,
including consumers, employees, shareholders, suppliers, competitors, and the
community. In other words, these stakeholders have concerns about what is fair,
just, or in keeping with respect to stakeholders' rights.
Many businesspeople and scholars have questioned the role of ethics and social
responsibility in business. Legal and economic responsibilities are generally
accepted as the most important determinants of performance.
ISO (expanded) - Answer-International Organization for Standardization
ISO - Answer-tried to establish a corporate responsibility standard, the ISO 26000;
although the ISO 26000 has been demoted to a guideline rather than a standard
four levels of social responsibility: - Answer-economic, legal, ethical, and
philanthropic
corporate citizenship: - Answer-express the extent to which businesses strategically
meet the economic, legal, ethical, and philanthropic responsibilities placed on them
by their various stakeholders.
