Corporate Social Responsibility (CSR)

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What is the primary reason why businesses should protect the interests of stakeholders?

To uphold the rights of employees. (correct)

To reduce competition in the market

To comply with legal regulations

To increase profit margins

What is the concept that emphasizes the importance of consumers' rights in the marketplace?

Social responsibility

Caveat vendor

Consumer sovereignty (correct)

Free market economy

What is the long-term benefit of businesses assuming social responsibilities?

Long-run survival (correct)

Short-term profit maximization

Increased market competition

Reduced employee turnover

What is the primary argument in favor of corporate social responsibility?

To protect the interests of stakeholders Signup and view all the answers

What is the outcome of businesses that prioritize social responsibilities?

Long-term sustainability Signup and view all the answers

What is the reason why businesses should prioritize social responsiveness towards consumers?

Because consumers are aware of their rights and expect businesses to satisfy their needs Signup and view all the answers

According to McGuire, what is the focus of CSR?

Economic, legal, and social responsibilities Signup and view all the answers

What is the main focus of CSR, according to Epstein?

The normative correctness of corporate actions Signup and view all the answers

What does Davis and Blomstrom's definition of CSR require?

Balancing economic and social welfare decisions Signup and view all the answers

According to Bauer, what does CSR consider?

The impact of company actions on society Signup and view all the answers

What is corporate citizenship about?

A new agreement between societies and business entities Signup and view all the answers

What is the extended obligation of corporate citizenship?

Willingly taking actions to improve the quality of life of employees and the community Signup and view all the answers

What is a challenge in defining CSR according to the traditional view?

No clear information on business concerns about social values Signup and view all the answers

Why may businesses be unable to fully satisfy the needs of society?

Because they are not united in their power Signup and view all the answers

What is a limitation of businesses' ability to respond to social changes?

Additional costs that may put them at a competitive disadvantage Signup and view all the answers

What is necessary for resolving social problems in a business environment?

Implementation of CSR policies by all entities Signup and view all the answers

Why do executives follow their own values and interests about social expectations?

Because there is no clear operational definition of CSR Signup and view all the answers

What is a challenge in conveying resources towards the needs of society?

Modification of government rules and provisions Signup and view all the answers