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Questions and Answers
Which of the following best describes sustainability?
Which of the following best describes sustainability?
- Using resources in a way that benefits society
- Using resources without regeneration
- Using resources in a way that can be regenerated (correct)
- Using resources without any limit
What does equity in society mean?
What does equity in society mean?
- Ensuring everyone feels included in society (correct)
- Ensuring everyone has the same income
- Ensuring equal distribution of resources
- Ensuring everyone has the same opportunities
Which of the following statements about order and transparency is true?
Which of the following statements about order and transparency is true?
- Transparency is not important for good governance
- Order and transparency are unrelated in good governance
- Order is a corollary of the transparency principle
- Good governance requires a fair framework of rules of operation (correct)
What is the main focus of corporate governance?
What is the main focus of corporate governance?
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What is the role of social responsibility in business?
What is the role of social responsibility in business?
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Study Notes
Sustainability
- Sustainability refers to the ability of a system to be maintained at a certain level over time, ensuring the long-term health and survival of the planet and its inhabitants.
Equity in Society
- Equity in society means promoting fairness and justice by recognizing and addressing the differences in opportunities, resources, and power that exist among various groups of people, ensuring everyone has equal access to opportunities and outcomes.
Order and Transparency
- True statement: Transparency is essential for establishing trust and confidence in institutions, as it allows for accountability and oversight, while order refers to the organized and structured manner in which institutions operate.
Corporate Governance
- The main focus of corporate governance is to ensure that companies are managed and directed in a way that is responsible, accountable, and transparent, with the goal of creating long-term value for stakeholders while minimizing harm to the environment and society.
Social Responsibility in Business
- The role of social responsibility in business is to recognize and address the impact of business activities on the environment, society, and the economy, and to take proactive steps to minimize harm and maximize benefits, ultimately contributing to a more sustainable and equitable future.
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