Business and Society:
Stakeholders, Ethics, and Public
Policy 17th Edition Chapters
1,2,3,5,6 and 13 Latest 2026
Update With Correct Answers
Sure A+
Business -
Correct Answer-any organization engaged in making a
product or providing a service for a profit.
Society -
Correct Answer-human beings and the social structures
they collectively create.
General Systems Theory -
Correct Answer-1940s, argues all organisms are open to
and interact with their external environments
Interactive Social System -
Correct Answer-A Society understood by systems theory.
Ownership Theory of the firm -
Correct Answer-the firm is seen as the property of its
owners
Stakeholder Theory of the firm -
Correct Answer-argues that corporations serve a broad
public purpose - to create value for society.
Descriptive Stakeholder Theory of the firm -
Correct Answer-stakeholder view is more realistic
description
1
, Instrumental Stakeholder Theory of the firm -
Correct Answer-stakeholders management more effective
as a corporate strategy.
Normative Stakeholder Theory of the firm -
Correct Answer-stakeholder management is the right thing
to do.
fiduciary -
Correct Answer-exercises power on behalf of another
Stakeholder -
Correct Answer-persons and groups which affect or are
affected by an organizations decisions, policies,
operations, Creditors, Stockholders, Competitors,
Customers, Employees, Non-govt. organizations, Govts.,
Suppliers, and the firm.
Market stakeholders -
Correct Answer-those in economic transactions with
company
Nonmarket Stakeholders -
Correct Answer-those who are affected by but not
economically exchanging with a company.
Internal stakeholders -
Correct Answer-employees, owners, board of directors
External stakeholders -
Correct Answer-people or groups in the organization's
external environment that are affected by it, not hirees
Stakeholder analysis -
2
Stakeholders, Ethics, and Public
Policy 17th Edition Chapters
1,2,3,5,6 and 13 Latest 2026
Update With Correct Answers
Sure A+
Business -
Correct Answer-any organization engaged in making a
product or providing a service for a profit.
Society -
Correct Answer-human beings and the social structures
they collectively create.
General Systems Theory -
Correct Answer-1940s, argues all organisms are open to
and interact with their external environments
Interactive Social System -
Correct Answer-A Society understood by systems theory.
Ownership Theory of the firm -
Correct Answer-the firm is seen as the property of its
owners
Stakeholder Theory of the firm -
Correct Answer-argues that corporations serve a broad
public purpose - to create value for society.
Descriptive Stakeholder Theory of the firm -
Correct Answer-stakeholder view is more realistic
description
1
, Instrumental Stakeholder Theory of the firm -
Correct Answer-stakeholders management more effective
as a corporate strategy.
Normative Stakeholder Theory of the firm -
Correct Answer-stakeholder management is the right thing
to do.
fiduciary -
Correct Answer-exercises power on behalf of another
Stakeholder -
Correct Answer-persons and groups which affect or are
affected by an organizations decisions, policies,
operations, Creditors, Stockholders, Competitors,
Customers, Employees, Non-govt. organizations, Govts.,
Suppliers, and the firm.
Market stakeholders -
Correct Answer-those in economic transactions with
company
Nonmarket Stakeholders -
Correct Answer-those who are affected by but not
economically exchanging with a company.
Internal stakeholders -
Correct Answer-employees, owners, board of directors
External stakeholders -
Correct Answer-people or groups in the organization's
external environment that are affected by it, not hirees
Stakeholder analysis -
2
