10 Questions
What is the social contract theory in relation to firms and society?
It advocates that firms should balance profit maximization goals with society’s social needs and wants
According to Alexander (1978), what is corporate social responsibility?
A link between ethical values and business responsibilities based on a formal relationship with stakeholders
What is the purpose of innovating social responsibility according to the text?
To minimize the negative effects of business actions on society
What type of corporate social responsibility activities have business firms in Nigeria engaged in?
Diverse pool of activities, including healthcare provisions, human capital development, and socio-economic palliatives
In terms of risk management and corporate decision-making, what does corporate social responsibility lead to?
An integrative approach that ultimately leads to risk management and corporate decision-making
What was the initial feature of Corporate Social Responsibility (CSR) as mentioned in the text?
Anglo-American feature based on stakeholder economy
Which institution encouraged developing countries to pursue export-led growth and privatize state enterprises?
International finance institutions such as the World Bank and the IMF
According to Grayson and Hodges (2020), where has corporate social responsibility moved to from the margins?
The mainstream of business practices
What is seen as a competitive advantage for companies, according to the text?
Corporate Social Responsibility (CSR)
What was the conclusion of Oketch's study on companies' access to funding from 2002 to 2009, as mentioned in the text?
Companies with better CSR performance have fewer restrictions on access to funding
This quiz covers the concept of social responsibility, including its roots in the social contract theory and its importance in balancing profit maximization with societal needs. It also explores the role of social responsibility in promoting social change.
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