TEST BANK for Business and Society 17th Edition by Lawrence & Weber, ISBN: 9781265079246, All 19 Chapters Covered, Verified Latest Edition

TEST BANK
Business and Society: Stakeholders,
Ethics, Public Policy, 17th Edition
By Lawrence, Weber, All Chapters 1 - 19

,TABLE OF CONTENTS XD XD




Chapter 1: The Corporation and Its Stakeholders
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Chapter 2: Managing Public Issues and Stakeholder Relationships
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Chapter 3: Corporate Social Responsibility and Global Citizenship
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Chapter 4: Business in a Globalized World
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Chapter 5: Ethics and Ethical Reasoning
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Chapter 6: Organizational Ethics
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Chapter 7: Business–Government Relations
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Chapter 8: Influencing the Political Environment
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Chapter 9: Sustainable Development and Global Business
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Chapter 10: Managing for Sustainability
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Chapter 11: The Role of Technology
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Chapter 12: Regulating and Managing Technology
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Chapter 13: Shareholder Rights and Corporate Governance
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Chapter 14: Consumer Protection
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Chapter 15: Employees and the Corporation
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Chapter 16: Managing a Diverse Workforce
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Chapter 17: Business and Its Suppliers
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Chapter 18: The Community and the Corporation
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Chapter 19: Managing the Public and the Corporate Reputation
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,Chapter 1: The Corporation and Its Stakeholders
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Answers are at the end of Each chapter
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Student name: XD XD




TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
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1) A business is any organization that is engaged in making a product or providing a s
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ervice fora profit.
XD D
X XD




⊚ true X D




⊚ false X D




2) The term stakeholder refers exclusively to the founders of a business organization.
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⊚ true X D




⊚ false X D




3) Businesses and society are independent of each other.
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⊚ true X D




⊚ false X D




4) The stakeholder theory of the firm argues that a firm’s sole purpose is to creat
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e long-termvalue for its shareholders.
XD D
X XD XD XD




⊚ true X D




⊚ falseX D




5) The instrumental argument for the stakeholder theory of the firm says that
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companiesperform better if they consider the rights and concerns of multipl
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e groups in society.
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⊚ true X D




⊚ false X D




6) The normative argument for the stakeholder theory of the firm says that the stake
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holder viewis simply a more realistic description of how companies really work.
XD D
X XD XD XD XD XD XD XD XD XD XD




⊚ true X D




⊚ false X D

, 7) Nonmarket stakeholders are those that engage in economic transactions with the
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company asit carries out its primary purpose of providing society with goods and s
XD D
X XD XD XD XD XD XD XD XD XD XD XD XD



ervices.
⊚ true X D




⊚ false X D




8) Market stakeholders include nongovernmental organizations and business support gr
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oups.
⊚ X D true
⊚ X D false

9) Government can be considered both a market and a nonmarket stakeholder.
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⊚ true X D




⊚ false X D




10) The interests of different stakeholders often coincide.
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⊚ true X D




⊚ falseX D




11) The first step of stakeholder analysis is to identify relevant stakeholders.
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⊚ true X D




⊚ falseX D




12) Some scholars have suggested that managers pay the most attention to st
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akeholderspossessing the least salience.
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⊚ true X D




⊚ false X D




13) The organization of a corporation’s boundary-spanning functions is complex.
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⊚ true X D




⊚ falseX D




14) Businesses are increasingly trying to meet their commitments to multiple stakeholde
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rs.
⊚ X D true
⊚ X D false

15) The external environment of business is static.
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⊚ true X D




⊚ falseX D