18 Questions
What is the primary reason why businesses should protect the interests of stakeholders?
To uphold the rights of employees.
What is the concept that emphasizes the importance of consumers' rights in the marketplace?
Consumer sovereignty
What is the long-term benefit of businesses assuming social responsibilities?
Long-run survival
What is the primary argument in favor of corporate social responsibility?
To protect the interests of stakeholders
What is the outcome of businesses that prioritize social responsibilities?
Long-term sustainability
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
According to McGuire, what is the focus of CSR?
Economic, legal, and social responsibilities
What is the main focus of CSR, according to Epstein?
The normative correctness of corporate actions
What does Davis and Blomstrom's definition of CSR require?
Balancing economic and social welfare decisions
According to Bauer, what does CSR consider?
The impact of company actions on society
What is corporate citizenship about?
A new agreement between societies and business entities
What is the extended obligation of corporate citizenship?
Willingly taking actions to improve the quality of life of employees and the community
What is a challenge in defining CSR according to the traditional view?
No clear information on business concerns about social values
Why may businesses be unable to fully satisfy the needs of society?
Because they are not united in their power
What is a limitation of businesses' ability to respond to social changes?
Additional costs that may put them at a competitive disadvantage
What is necessary for resolving social problems in a business environment?
Implementation of CSR policies by all entities
Why do executives follow their own values and interests about social expectations?
Because there is no clear operational definition of CSR
What is a challenge in conveying resources towards the needs of society?
Modification of government rules and provisions
Test your knowledge of corporate social responsibility, including its different aspects, such as obligation, action, and outcomes. Learn about the four components of CSR and how they contribute to a company's overall social performance.
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