Socially Responsible Management Quiz

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Questions and Answers

What does social responsibility require a business to do beyond legal obligations?

Maximize profits for stockholders

Pursue long-term goals beneficial to society (correct)

Engage only in profit-making activities

Minimize operational costs

Which view suggests that a business's only social responsibility is to maximize profits?

Stakeholder Theory

Classical View (correct)

Corporate Social Responsibility View

Socio-Economic View

How does managing responsibly impact organizational performance?

It enhances stakeholder trust and loyalty (correct)

It limits business growth opportunities

It increases employee costs only

It has no effect on brand reputation

What does social responsiveness mean in the context of corporate behavior?

Responding to social needs through corporate actions Signup and view all the answers

Which of the following factors could lead to unethical behavior in organizations?

Ambiguous legal frameworks Signup and view all the answers

What is a key definition of corporate social responsibility according to the socio-economic perspective?

Balancing profits with societal welfare Signup and view all the answers

What would NOT be considered as an issue under social responsibility?

Engaging in unrestricted profit-making Signup and view all the answers

What is a major distinction between social obligation and social responsibility?

Social obligation prioritizes profit-making, while social responsibility considers wider social impacts Signup and view all the answers

Which factor plays a crucial role in determining ethical behaviour according to the content?

Locus of control Signup and view all the answers

What does ego strength measure in individuals regarding ethical behaviour?

The firmness of their convictions Signup and view all the answers

What type of situation exemplifies an ethical dilemma?

Choosing between two options that both conflict with moral values Signup and view all the answers

Which of the following is NOT mentioned as a factor affecting ethical behaviour?

Social status Signup and view all the answers

According to the content, who primarily influences an individual's values?

Religious institutions and family Signup and view all the answers

Which aspect can significantly affect whether an action is viewed as ethical or unethical?

The effects of the action on others Signup and view all the answers

What is a key consideration when evaluating the likelihood of harm in ethical decisions?

The number of people affected Signup and view all the answers

The stages of moral development are associated with which theorist?

Lawrence Kohlberg Signup and view all the answers

What is the primary intention of a socially responsible organization?

To improve society because it is the right thing to do Signup and view all the answers

Which company is an example of a business engaging in social responsibility through its product offerings?

TOMS shoes Signup and view all the answers

What impact can socially responsible practices have on employee retention?

Reduced employee turnover Signup and view all the answers

What is the primary focus of Socially Responsible Investing (SRI)?

Supporting socially responsible companies Signup and view all the answers

How do socially responsible companies often reduce production costs in the long run?

By implementing renewable energy sources Signup and view all the answers

Which of the following statements reflects a misconception about the relationship between corporate social responsibility and economic performance?

Social involvement has no impact on profits Signup and view all the answers

What do social screening criteria in SRI help investors to do?

Select investments based on environmental and social impact Signup and view all the answers

Which ethical principle is important for defining right and wrong behavior in business?

Transparency and honesty Signup and view all the answers

Study Notes

What is Socially Responsible Management?

Refers to a business's responsibility to pursue long-term goals that are good for society, beyond legal and economic obligations
The classical view emphasizes maximizing profits for stockholders, while the socio-economic view stresses the protection and improvement of societal welfare
Social responsiveness refers to companies taking action to address popular social needs, while social responsibility focuses on doing the right thing for society

Studies suggest a positive correlation between social involvement and economic performance
Socially responsible investing (SRI) utilizes social and environmental criteria to make investment decisions, supporting companies with ethical practices

Ethics in Management

Ethics are the principles, values, and beliefs that define right and wrong behavior
Factors influencing ethical behavior include individual characteristics, organizational culture, and external pressures
Stages of Moral Development outline the progression of ethical reasoning, from self-interest to universal ethical principles

Ethical Dilemmas

Situations where choosing between two alternatives conflicts with moral values and principles
Managers face ethical dilemmas frequently and must navigate these using ethical frameworks and decision-making processes

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Description

Test your knowledge on socially responsible management and corporate social responsibility. This quiz covers key concepts such as ethics, social responsiveness, and the economic performance of socially responsible practices. Explore the implications for businesses and society as a whole.