Organisational Stakeholders Quiz

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What is the main focus of primary stakeholders in an organization?

Donations, pollution prevention, and recycling

Product quality and honest advertising

Financial soundness and accurate financial disclosure (correct)

Ensuring workplace safety

Which group would be categorized as a secondary stakeholder in an organization?

Suppliers

Investors

Government (correct)

Customers

What does stakeholder analysis or mapping aim to determine?

Product quality standards

Employee salary expectations

Workplace safety measures

Influence of stakeholders on performance (correct)

Which of the following best describes Corporate Social Responsibility (CSR)?

Behaving ethically and contributing to economic development Signup and view all the answers

What do employees primarily focus on in terms of stakeholder concerns?

Workplace safety and fair employment conditions Signup and view all the answers

Which stakeholder group is crucial for the survival of an organization?

Investors Signup and view all the answers

What is the role of ethical policies and social responsibility practices in an organisation?

To remain competitive and meet the demands of the community Signup and view all the answers

Why do businesses need to incorporate ethics into their strategies according to the text?

To ensure long-term sustainability and competitiveness Signup and view all the answers

What does the text mention as a potential consequence of unethical or questionable social practices?

Devastation to a business Signup and view all the answers

How does the text define ethics beyond just not violating laws?

A set of moral standards among employees benefiting a collective interest Signup and view all the answers

What is the key difference between the Conventional stage and the Postconventional stage in ethical development?

In the Conventional stage, individuals consider interests and expectations of others, while in the Postconventional stage, individuals follow personal principles and consider group and societal interests. Signup and view all the answers

What does corporate sustainability entail?

Ensuring long-term viability and competitiveness through responsible practices Signup and view all the answers

Which of the following is NOT an example of a situational factor that influences ethical conduct within an organization?

Lack of ethics training programmes Signup and view all the answers

Why do consumers becoming more demanding pose a challenge to businesses according to the text?

Increased scrutiny on business practices and ethics Signup and view all the answers

At what level does the development of corporate culture to support ethics involve providing tools to evaluate ethical dilemmas and reach suitable solutions?

Ethical reasoning Signup and view all the answers

What role do executives play in shaping ethical conduct according to the text?

Executives must lead by example and act as ethical role models. Signup and view all the answers

What responsibility do organisations have towards society, as mentioned in the text?

Organisations have a responsibility to be aware of and follow ethical standards applicable in each country. Signup and view all the answers

Which of the following is NOT a level involved in the development of corporate culture to support ethics as per the text?

Ethical perception Signup and view all the answers

What is one of the core qualities associated with the successful implementation of sustainability strategies?

Leading by example Signup and view all the answers

What is a key factor in developing a culture of continual improvement, innovation, and learning?

Valuing people's capability Signup and view all the answers

Which aspect is emphasized as important for driving successful business sustainability?

Understanding stakeholders' values Signup and view all the answers

What is one of the enabling conditions for integrated sustainability as outlined in Table 3.3 on page 61 of the textbook?

Valuing sustainable results and outcomes Signup and view all the answers

Why is developing and valuing people's capability considered important in implementing sustainable strategies?

To foster a culture of continual improvement Signup and view all the answers

In the context of sustainability enablers, why is behaving ethically, socially, financially, and environmentally responsible emphasized?

To ensure sustainable results Signup and view all the answers

What is emphasized in the text as a key guideline for ethical behaviour in an organisation?

Complying with the law and its spirit Signup and view all the answers

What role should finance professionals play in relation to ethical behaviour according to the text?

Acting as ethical champions challenging business assumptions Signup and view all the answers

What is a suggested approach for dealing with ethical dilemmas in the text?

Having a framework and process for resolution Signup and view all the answers

Why is it important to integrate ethics into an organization's business strategy?

To enhance reputation and independence Signup and view all the answers

What should governance structures include to ensure ethical oversight?

People with appropriate skills to scrutinize social, ethical, and environmental performance Signup and view all the answers

How does the text suggest organizations handle unethical business practices?

Conduct business transparently and avoid unethical practices Signup and view all the answers