Test Bank for Business and Society: Stakeholders, Ethics, Public Policy 17th Edition by Lawrence

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




Chapter 1: The Corporation and Its Stakeholders
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Chapter 2: Managing Public Issues and Stakeholder Relationships
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w Chapter 3: Corporate Social Responsibility and Global Citizenship
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w Chapter 4: Business in a Globalized World
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Chapter 5: Ethics and Ethical Reasoning Chapter
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w 6: Organizational Ethics
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Chapter 7: Business–Government Relations Chapter
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8: Influencing the Political Environment
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Chapter 9: Sustainable Development and Global Business Chapter
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w 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 Chapter
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w 14: Consumer Protection
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Chapter 15: Employees and the Corporation
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w Chapter 16: Managing a Diverse Workforce
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w 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 andItsStakeholders
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Answers are at the end of Each chapter
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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.
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⊚ true
⊚ false

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

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

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




⊚ true
⊚ false

5) The instrumental argument for the stakeholder theory of the firm says that
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w companies perform better if they consider the rights and concerns of multipl e
X
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w groups in society. w w




⊚ true
⊚ false

6) The normative argument for the stakeholder theory of the firm says that the stake
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w holder viewis simply a more realistic description of how companies really work.
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⊚ true
⊚ false

, 7) Nonmarket stakeholders are those that engage in economic transactions with the
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w company asit carries out its primary purpose of providing society with goods and s
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w ervices.
⊚ true
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⊚ false
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8) Market stakeholders include nongovernmental organizations and business support gr
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w oups.
⊚ true
⊚ false

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

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

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

12) Some scholars have suggested that managers pay the most attention to st
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w akeholders possessing the least salience.
X
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⊚ true
⊚ false

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

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

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