TEST BANK FOR BUSINESS AND SOCIETY, STAKEHOLDERS, ETHICS PUBLIC POLICY 17Th EDITION BY ANNE LAWRENCE COMPLETE WITH ALL CHAPTERS 1 UPTO 19 LATEST UPDATE.

TABLEOFCONTENTS Chapter 1: The Corporation and Its Stakeholders Chapter 2: Managing Public Issues and Stakeholder Relationships Chapter 3: Corporate Social Responsibility and Global Citizenship Chapter 4: Business in a Globalized World Chapter 5: Ethicssand Ethical Reasoning Chapter 6: Organizational Ethics Chapter 7: Business–Government Relations Chapter 8: Influencing the Political Environment Chapter 9: Sustainable Development and Global Business Chapter 10: Managingsfor Sustainability Chapter 11: The Rolesof Technology Chapter 12: Regulating and Managing Technology Chapter 13: Shareholder Rights and Corporate Governance Chapter 14: Consumer Protection Chapter 15: Employees and the Corporation Chapter 16: Managingsa Diverse Workforce Chapter 17: Business and Its Suppliers Chapter 18: The Community and the Corporation Chapter 19: ManagingsthesPublic and the CorporatesReputation AnswerssaresatsthesendsofsEachschapter Chapter 1: The Corporation and Its Stakeholders Studentname: TRUE/FALSE - Write 'T' ifthe statement is true and 'F' ifthe statement is false. 1) A businesssis any organization thatis engaged in making a product or providing a servic e fora profit. ⊚ true ⊚ false 2) The term stakeholder refers exclusively to the founders of a business organization. ⊚ true ⊚ false 3) Businesses and society aresindependent of each other. ⊚ true ⊚ false 4) The stakeholdertheory ofthe firm argues that a firm‘s sole purpose is to create lo ng-termvalue for its shareholders. ⊚ true ⊚ false 5) The instrumental argument forthe stakeholder theory ofthe firm says thatsco mpaniessperform betterifthey considerthe rights and concerns of multiple gro ups in society. ⊚ true ⊚ false 6) The normativesargument forthe stakeholder theory ofthe firm says thatthe stakehol der viewis simply a more realistic description of how companies really work. ⊚ true ⊚ false 7) Nonmarket stakeholders are those that engage in economic transactions with the co mpany assitscarries outits primary purpose of providing society with goods and service s. ⊚ true ⊚ false 8) Market stakeholders include nongovernmental organizations and business support grou ps. ⊚ true ⊚ false 9) Government can be considered both a market and a nonmarket stakeholder. ⊚ true ⊚ false 10) The interests of different stakeholderssoften coincide. ⊚ true ⊚ false 11) The first step of stakeholder analysis is to identify relevant stakeholders. ⊚ true ⊚ false 12) Some scholars have suggested that managersspay the most attention to stake holderspossessing the least salience. ⊚ true ⊚ false 13) The organization of a corporation‘s boundary-spanning functions is complex. ⊚ true ⊚ false 14) Businesses aresincreasingly trying to meettheir commitments to multiple stakeholders. ⊚ true ⊚ false 15) The external environment of business is static. ⊚ true ⊚ false MULTIPLE CHOICE - Choose the one alternative that bestscompletes the statement oranswers the ques tion. 16) The relationship between business and society issmostsaccurately described by whichstatement? A) Businesssis an unbounded entity within the larger bounded entity of society. B) Society is a distinct bounded entity within the larger bounded entity of business. C) Businesssis a distinctsbounded entity separate from thesbounded entity of society . D) Businesssis a distinct bounded entity within the larger bounded entity of society. 17) According to general systems theory, boundary exchanges are exemplified bywhich ofthefollowing? A) An industrial company installs new equipmentin its plantsto comply withenvironmentalregulations. B) A software company develops an application for a client. C) A purchasing department employee negotiates a price on parts with a supplier. D) All ofthese choices arescorrect. 18) The inseparable relationship between business and society results in which ofthe follo wing? A) All businesssdecisions have a social impact. B) The vitality of business depends on society's actionssand attitudes. C) The survival of business is independent of society. D) Both ―All business decisions havesa social impact‖ and ―The vitality of busi nessdependsson society‘ssactions and attitudes‖ are correct. 19) Which ofthe following statements is not true aboutthe interactive social system? A) Business and society need, asswell as influence, each other. B) The boundary between business and society is clear and distinct. C) Businesssis a partsof society, and society penetrates far and often into business. D) Business and society are both separate and connected. 20) A firm subscribing tosthe shareholdertheory ofthe firm would mainly be concerne d withproviding long-term value for its A) investors. B) customers. C) board of Directors. D) community. 21) Corporationssthatfollow the stakeholdertheory ofthe firm create value by A) constantly innovating new products. B) increasing their stocksprice. C) developing their employees‘ skills. D) All ofthese choices arescorrect. 22) Which argument says thatsstakeholder management realistically depicts how co mpaniessreallywork? A) descriptivesargument B) instrumental argument C) normative argument D) fiduciary argument 23) The instrumental argumentsstatessthat stakeholder manage mentis A) a more realistic description of how companiessreally work. B) more effective as a corporate strategy. C) simply the rightsthing to do. D) determined by the amount of stocksissued. 24) The fiduciary duty of managers benefits a firm's A) shareholders. B) customers. C) employees. D) All ofthese choices arescorrect. 25) The main reason a number of European countries require public companies to i ncludeemployee members on their boards of directors is that A) the employees will be available to answer other board members' questions. B) management will not have to attend the meetings. C) employees' interests will be explicitly represented. D) employees will have more powerthan any other stakeholder. 26) Stakeholder groups can include A) shareholders. B) business support groups. C) environmental activists. D) All ofthese choices arescorrect. 27) A nonmarket stakeholder of business issexemplified by which ofthe following? A) customers B) nongovernmental organizations C) creditors D) shareholders