Complete Test Bank mf mf
Business and Society: Stakeholders Ethics Public
mf mf mf mf mf mf
Policy
17TH Edition mf
by Anne Lawrence (Author), James Weber
mf mf mf mf mf
All Chapters| Latest
mf mf
1|P age
, Chapter 1- mf
19 Answers are at the end of Each chapter Chapter 1
mf mf mf mf mf mf mf mf mf mf
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
1 ) A business is any o rganization that is engaged in making a product or providing a service for a profit.
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
2 ) The term stakeholder refers exclusively to the founders of a business organization.
mf mf mf mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
3 ) Businesses and society a re independent of each other.
mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
4 ) The stakeholder theory of the firm argues that a firm‘s sole purpose is to create long-
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
term value for its shareholders.
mf mf mf mf
⊚ true
mf
⊚ false
mf
5 ) The instrumental argument for the stakeholder theory of the firm says that companies perform better if th
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
ey consider the rights and concerns of multiple groups in society.
mf mf mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
6 ) The normative argument for the stakeholder theory of the firm says that the stakeholder view is simply a m
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
ore realistic description of how companies really work.
mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
2|P age
,7 ) Nonmarket stakeholders are those that engage in economic transactions with the company as it carries out
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
its primary purpose of providing society with goods and services.
mf mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
8 ) Market stakeholders include n ongovernmental o rganizations a nd b usiness support groups.
mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
9 ) Government can be considered both a market and a nonmarket stakeholder.
mf mf mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
10 ) The interests of d ifferent stakeholders often coincide.
mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
11 ) The first step of stakeholder analysis is to identify relevant stakeholders.
mf mf mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
12 ) Some scholars have suggested that managers pay the most attention to stakeholders possessing the least salience.
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
13 ) The organization of a corporation‘s boundary-spanning functions is complex.
mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
3|P age
, 14 ) Businesses a re increasingly trying to meet their commitments to multiple stakeholders.
mf mf mf mf mf mf mf mf mf mf
⊚ truemf
⊚ false
mf
15 ) The external environment of b usiness is static.
mf mf mf mf mf mf
⊚ truemf
⊚ false
mf
MULTIPLE CHOICE - mf mf
Choose the one alternative that best completes the stateme
mf mf mf mf mf mf mf mf mf
nt or answers the question.
mf mf mf mf
16 ) The relationship between business and society is most accurately d escribed by which statement?
mf mf mf mf mf mf mf mf mf mf mf mf
A ) Business is an unbounded entity within the larger bounded entity o f society.
mf mf mf mf mf mf mf mf mf mf mf
B) Society is a distinct bounded entity within the larger bounded entity o f business.
mf mf mf mf mf mf mf mf mf mf mf mf
C) Business is a distinct bounded entity separate from the bounded entity of society.
mf mf mf mf mf mf mf mf mf mf mf mf
D ) Business is a distinct bounded entity within the larger bounded entity o f society.
mf mf mf mf mf mf mf mf mf mf mf mf
17 ) According to general systems theory, boundary exchanges are exemplified by which of the following?
mf mf mf mf mf mf mf mf mf mf mf mf mf
A ) An industrial company installs new equipment in its plant to comply with environmental regulations.
mf mf mf mf mf mf mf mf mf mf mf mf mf
B) A software company develops an application for a client.
mf mf mf mf mf mf mf mf
C) A purchasing department employee negotiates a price on parts with a supplier.
mf mf mf mf mf mf mf mf mf mf mf
D ) All of these choices are correct.
mf mf mf mf mf
18 ) The inseparable relationship between business and society results in which of the following?
mf mf mf mf mf mf mf mf mf mf mf mf
A ) All business decisions have a social impact.
mf mf mf mf mf mf
B) The vitality of business depends on society's actions and attitudes.
mf mf mf mf mf mf mf mf mf
C) The survival of business is independent of society.
mf mf mf mf mf mf mf
D ) Both ―All b usiness d ecisions h ave a social impact‖ a nd ―The v itality o f b usiness d epends o n society‘s a ctions a n
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
d attitudes‖ are correct.
mf mf mf
4|P age
Business and Society: Stakeholders Ethics Public
mf mf mf mf mf mf
Policy
17TH Edition mf
by Anne Lawrence (Author), James Weber
mf mf mf mf mf
All Chapters| Latest
mf mf
1|P age
, Chapter 1- mf
19 Answers are at the end of Each chapter Chapter 1
mf mf mf mf mf mf mf mf mf mf
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
1 ) A business is any o rganization that is engaged in making a product or providing a service for a profit.
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
2 ) The term stakeholder refers exclusively to the founders of a business organization.
mf mf mf mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
3 ) Businesses and society a re independent of each other.
mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
4 ) The stakeholder theory of the firm argues that a firm‘s sole purpose is to create long-
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
term value for its shareholders.
mf mf mf mf
⊚ true
mf
⊚ false
mf
5 ) The instrumental argument for the stakeholder theory of the firm says that companies perform better if th
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
ey consider the rights and concerns of multiple groups in society.
mf mf mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
6 ) The normative argument for the stakeholder theory of the firm says that the stakeholder view is simply a m
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
ore realistic description of how companies really work.
mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
2|P age
,7 ) Nonmarket stakeholders are those that engage in economic transactions with the company as it carries out
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
its primary purpose of providing society with goods and services.
mf mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
8 ) Market stakeholders include n ongovernmental o rganizations a nd b usiness support groups.
mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
9 ) Government can be considered both a market and a nonmarket stakeholder.
mf mf mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
10 ) The interests of d ifferent stakeholders often coincide.
mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
11 ) The first step of stakeholder analysis is to identify relevant stakeholders.
mf mf mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
12 ) Some scholars have suggested that managers pay the most attention to stakeholders possessing the least salience.
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
13 ) The organization of a corporation‘s boundary-spanning functions is complex.
mf mf mf mf mf mf mf mf
⊚ true
mf
⊚ false
mf
3|P age
, 14 ) Businesses a re increasingly trying to meet their commitments to multiple stakeholders.
mf mf mf mf mf mf mf mf mf mf
⊚ truemf
⊚ false
mf
15 ) The external environment of b usiness is static.
mf mf mf mf mf mf
⊚ truemf
⊚ false
mf
MULTIPLE CHOICE - mf mf
Choose the one alternative that best completes the stateme
mf mf mf mf mf mf mf mf mf
nt or answers the question.
mf mf mf mf
16 ) The relationship between business and society is most accurately d escribed by which statement?
mf mf mf mf mf mf mf mf mf mf mf mf
A ) Business is an unbounded entity within the larger bounded entity o f society.
mf mf mf mf mf mf mf mf mf mf mf
B) Society is a distinct bounded entity within the larger bounded entity o f business.
mf mf mf mf mf mf mf mf mf mf mf mf
C) Business is a distinct bounded entity separate from the bounded entity of society.
mf mf mf mf mf mf mf mf mf mf mf mf
D ) Business is a distinct bounded entity within the larger bounded entity o f society.
mf mf mf mf mf mf mf mf mf mf mf mf
17 ) According to general systems theory, boundary exchanges are exemplified by which of the following?
mf mf mf mf mf mf mf mf mf mf mf mf mf
A ) An industrial company installs new equipment in its plant to comply with environmental regulations.
mf mf mf mf mf mf mf mf mf mf mf mf mf
B) A software company develops an application for a client.
mf mf mf mf mf mf mf mf
C) A purchasing department employee negotiates a price on parts with a supplier.
mf mf mf mf mf mf mf mf mf mf mf
D ) All of these choices are correct.
mf mf mf mf mf
18 ) The inseparable relationship between business and society results in which of the following?
mf mf mf mf mf mf mf mf mf mf mf mf
A ) All business decisions have a social impact.
mf mf mf mf mf mf
B) The vitality of business depends on society's actions and attitudes.
mf mf mf mf mf mf mf mf mf
C) The survival of business is independent of society.
mf mf mf mf mf mf mf
D ) Both ―All b usiness d ecisions h ave a social impact‖ a nd ―The v itality o f b usiness d epends o n society‘s a ctions a n
mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf mf
d attitudes‖ are correct.
mf mf mf
4|P age
