Podcast
Questions and Answers
What is the social contract theory in relation to firms and society?
What is the social contract theory in relation to firms and society?
- It advocates that firms should not be responsive to society’s long-run needs and wants
- It advocates that firms should prioritize profit maximization over society’s needs and wants
- It advocates that firms should only focus on society’s long-run needs and ignore profit maximization
- It advocates that firms should balance profit maximization goals with society’s social needs and wants (correct)
According to Alexander (1978), what is corporate social responsibility?
According to Alexander (1978), what is corporate social responsibility?
- A link between ethical values and profit maximization goals
- A formal relationship with stakeholders based on maximizing profits
- A link between ethical values and business responsibilities based on a formal relationship with stakeholders (correct)
- An integrative and corporate approach devoid of ethical values
What is the purpose of innovating social responsibility according to the text?
What is the purpose of innovating social responsibility according to the text?
- To avoid any form of corporate social responsibility activities
- To minimize the negative effects of business actions on society (correct)
- To maximize profits at the expense of society’s needs
- To prioritize shareholder interests over societal welfare
What type of corporate social responsibility activities have business firms in Nigeria engaged in?
What type of corporate social responsibility activities have business firms in Nigeria engaged in?
In terms of risk management and corporate decision-making, what does corporate social responsibility lead to?
In terms of risk management and corporate decision-making, what does corporate social responsibility lead to?
What was the initial feature of Corporate Social Responsibility (CSR) as mentioned in the text?
What was the initial feature of Corporate Social Responsibility (CSR) as mentioned in the text?
Which institution encouraged developing countries to pursue export-led growth and privatize state enterprises?
Which institution encouraged developing countries to pursue export-led growth and privatize state enterprises?
According to Grayson and Hodges (2020), where has corporate social responsibility moved to from the margins?
According to Grayson and Hodges (2020), where has corporate social responsibility moved to from the margins?
What is seen as a competitive advantage for companies, according to the text?
What is seen as a competitive advantage for companies, according to the text?
What was the conclusion of Oketch's study on companies' access to funding from 2002 to 2009, as mentioned in the text?
What was the conclusion of Oketch's study on companies' access to funding from 2002 to 2009, as mentioned in the text?
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