TEST BANK FOR Business and Society: Stakeholders, Ethics, Public Policy 17th edition by Anne T. Lawrence, James Weber ISBN: 978-1265079246 COMPLETE GUIDE ALL CHAPTERS COVERED 100% VERIFIED A+ GRADE ASSURED!!!!NEW LATEST UPDATE!!!!!

Complete Test Bank <k <k




Business and Society: Stakeholders Ethics Public
<k <k <k <k <k




Policy <k




17TH Edition <k




by Anne Lawrence (Author), James Weber
<k <k <k <k <k




All Chapters| Latest
<k <k




1|P a g
<k <k <k <k <k


e

, Chapter 1- <k




19 Answers are at the end of Each chapter Chapter 1
<k <k <k <k <k <k <k <k <k <k




TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
<k <k <k <k <k <k <k <k <k <k <k <k <k <k <k




1) A business is any organization that is engaged in making a product or providing a service for a profit.
<k <k <k <k <k <k <k <k <k <k <k <k <k <k <k <k <k <k




⊚ true<k




⊚ false
<k




2) The term stakeholder refers exclusively to the founders of a business organization.
<k <k <k <k <k <k <k <k <k <k <k




⊚ true<k




⊚ false
<k




3) Businesses and society are independent of each other.
<k <k <k <k <k <k <k




⊚ true<k




⊚ false
<k




4) The stakeholder theory of the firm argues that a firm‘s sole purpose is to create long-
<k <k <k <k <k <k <k <k <k <k <k <k <k <k <k


term value for its shareholders.
<k <k <k <k




⊚ true<k




⊚ false
<k




5) The instrumental argument for the stakeholder theory of the firm says that companies perform better i
<k <k <k <k <k <k <k <k <k <k <k <k <k <k <k


f they consider the rights and concerns of multiple groups in society.
<k <k <k <k <k <k <k <k <k <k <k




⊚ true<k




⊚ false
<k




6) The normative argument for the stakeholder theory of the firm says that the stakeholder view is simply
<k <k <k <k <k <k <k <k <k <k <k <k <k <k <k <k <k


a more realistic description of how companies really work.
<k <k <k <k <k <k <k <k




⊚ true<k




⊚ false
<k




2|P a g
<k <k <k <k <k


e

,7) Nonmarket stakeholders are those that engage in economic transactions with the company as it carries
<k <k <k <k <k <k <k <k <k <k <k <k <k <k <k


out its primary purpose of providing society with goods and services.
<k <k <k <k <k <k <k <k <k <k




⊚ true
<k




⊚ false
<k




8) Market stakeholders include nongovernmental organizations and business support groups.
<k <k <k <k <k <k <k <k




⊚ true
<k




⊚ false
<k




9) Government can be considered both a market and a nonmarket stakeholder.
<k <k <k <k <k <k <k <k <k <k




⊚ true
<k




⊚ false
<k




10) The interests of different stakeholders often coincide.
<k <k <k <k <k <k




⊚ true
<k




⊚ false
<k




11) The first step of stakeholder analysis is to identify relevant stakeholders.
<k <k <k <k <k <k <k <k <k <k




⊚ true
<k




⊚ false
<k




12) Some scholars have suggested that managers pay the most attention to stakeholders possessing the least salience.
<k <k <k <k <k <k <k <k <k <k <k <k <k <k <k




⊚ true
<k




⊚ false
<k




13) The organization of a corporation‘s boundary-spanning functions is complex.
<k <k <k <k <k <k <k <k




⊚ true
<k




⊚ false
<k




3|P a g
<k <k <k <k <k


e

, 14) Businesses are increasingly trying to meet their commitments to multiple stakeholders.
<k <k <k <k <k <k <k <k <k <k




⊚ true
<k




⊚ false
<k




15) The external environment of business is static.
<k <k <k <k <k <k




⊚ true
<k




⊚ false
<k




MULTIPLE CHOICE - <k <k


Choose the one alternative that best completes the statem
<k <k <k <k <k <k <k <k <k



ent or answers the question.
<k <k <k <k




16) The relationship between business and society is most accurately described by which statement?
<k <k <k <k <k <k <k <k <k <k <k <k




A) Business is an unbounded entity within the larger bounded entity of society.
<k <k <k <k <k <k <k <k <k <k <k




B) Society is a distinct bounded entity within the larger bounded entity of business.
<k <k <k <k <k <k <k <k <k <k <k <k




C) Business is a distinct bounded entity separate from the bounded entity of society.
<k <k <k <k <k <k <k <k <k <k <k <k




D) Business is a distinct bounded entity within the larger bounded entity of society.
<k <k <k <k <k <k <k <k <k <k <k <k




17) According to general systems theory, boundary exchanges are exemplified by which of the following?
<k <k <k <k <k <k <k <k <k <k <k <k <k




A) An industrial company installs new equipment in its plant to comply with environmental regulations.
<k <k <k <k <k <k <k <k <k <k <k <k <k




B) A software company develops an application for a client.
<k <k <k <k <k <k <k <k




C) A purchasing department employee negotiates a price on parts with a supplier.
<k <k <k <k <k <k <k <k <k <k <k




D) All of these choices are correct.
<k <k <k <k <k




18) The inseparable relationship between business and society results in which of the following?
<k <k <k <k <k <k <k <k <k <k <k <k




A) All business decisions have a social impact.
<k <k <k <k <k <k




B) The vitality of business depends on society's actions and attitudes.
<k <k <k <k <k <k <k <k <k




C) The survival of business is independent of society.
<k <k <k <k <k <k <k




D) Both ―All business decisions have a social impact‖ and ―The vitality of business depends on society‘s action
<k <k <k <k <k <k <k <k <k <k <k <k <k <k <k <k


s and attitudes‖ are correct.
<k <k <k <k




4|P a g
<k <k <k <k <k


e