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Flashcards on Ethics Chapter 1

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Which statement is not correct about the business-society interdependence?
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actions by government rarely significantly affect business
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Which of the following statements is not true about the interactive social system?
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the boundary between business and society is clear and distinct
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A firm subscribing to the ownership theory of the firm would mainly be concerned with providing value for its:
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shareholders
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Which argument says that stakeholder management realistically depicts how companies really work?
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descriptive argument
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The instrumental argument says stakeholder management is
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more effective as a corporate strategy
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A number of European countries require public companies to include employee members on their boards of directors, so:
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their interests will be explicitly represented
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Which one of the following is considered to be a nonmarket stakeholder of business?
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Media
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Which of the following is not considered to be a nonmarket stakeholder?
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creditors
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All of the following are external stakeholders of the firm except
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managers
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The phenomenon of a person or group holding multiple stakeholder duties is referred to as:
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role sets
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A stakeholder analysis:
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involves understanding the nature of stockholder interests
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Customers can exercise economic stakeholder power by:
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boycotting products if they believe the goods are too expensive
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Which of the following is not an example of stakeholders’ economic power?
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social groups protesting a governmental decision to raise taxes
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When a community group sues a company for health effects caused by the unsafe disposal of toxic chemicals, this is an exercise of a stakeholder’s:
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Legal Power
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With the explosive growth of technologies that facilitate the sharing of information, this kind of stakeholder power has become increasingly important:
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informational
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Stakeholders have been able to form international coalitions more successfully through use of:
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communications technology
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When something stands out from a background, is seen as important, or draws attention it is:
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salient
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Stakeholders stand out to managers when they exhibit:
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power, legitimacy, and urgency
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Departments, or offices, within an organization that reach across the dividing line that separates the company from groups and people in society are:
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boundary-spanning departments
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Interactions between business and society occur:
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within a finite natural ecosystem