Sustainable Development and Corporate Responsibility
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Questions and Answers

What is one key focus of sustainable development frameworks?

  • Reducing competition among businesses
  • Maximizing short-term profits
  • Promoting monopolies in the market
  • Balancing economic growth with environmental protection (correct)

    • Corporate responsibility only focuses on a company's legal obligations and does not involve ethical considerations.

    False

    What term describes the idea that businesses have a responsibility to consider the interests of all stakeholders?

    Stakeholder Theory

    The concept of ______ refers to the ways in which a business engages with its community and society at large.

    <p>Corporate Citizenship</p> Signup and view all the answers

    Match the following concepts with their descriptions:

    <p>Corporate Responsibility = The obligation of businesses to operate ethically and consider societal impacts Sustainable Development = Development that meets current needs without compromising future generations Business Ethics = Moral principles that guide decision-making in business Corporate Citizenship = Active participation of a business in its community's social and economic development</p> Signup and view all the answers

    What is the main focus of corporate responsibility (CR)?

    <p>Balancing business interests with societal needs</p> Signup and view all the answers

    Stakeholder theory suggests that only shareholders should have interests considered in business decisions.

    <p>False</p> Signup and view all the answers

    What does sustainable development (SD) refer to?

    <p>Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.</p> Signup and view all the answers

    Corporate __________ focuses on a company's responsibility towards society and the environment.

    <p>responsibility</p> Signup and view all the answers

    Which of the following is a principle of business ethics?

    <p>Fair treatment of employees and customers</p> Signup and view all the answers

    Name one motivation for pursuing a corporate responsibility policy.

    <p>Self-interest, mutual interest, or shared responsibility.</p> Signup and view all the answers

    Which of the following approaches is part of the conventional frameworks for dealing with environmental issues?

    <p>Market-driven frameworks</p> Signup and view all the answers

    Business ethics is concerned with the __________ of business practices.

    <p>morality</p> Signup and view all the answers

    Corporate citizenship involves a company's participation in public debates and civil society.

    <p>True</p> Signup and view all the answers

    What is one significant reason for the emergence of the corporate responsibility agenda?

    <p>Increased consumer awareness of social and environmental issues.</p> Signup and view all the answers

    What is a key factor in defining sustainability in relation to business?

    <p>Long-term viability and minimal environmental impact</p> Signup and view all the answers

    The significance of sustainable development for business is primarily focused on short-term financial benefits.

    <p>False</p> Signup and view all the answers

    The framework for business practices that prioritize environmental concerns is referred to as __________ development.

    <p>sustainable</p> Signup and view all the answers

    What role does data gathering play in the process of corporate responsibility?

    <p>It helps in assessing the impact of business operations on society and the environment.</p> Signup and view all the answers

    What is the main idea behind sustainable development in business?

    <p>Balancing economic growth, environmental protection, and social equity</p> Signup and view all the answers

    Corporate social responsibility (CSR) is primarily concerned with maximizing shareholder value.

    <p>False</p> Signup and view all the answers

    What does stakeholder theory emphasize in business?

    <p>Balancing the interests of all stakeholders involved in or affected by a company's actions.</p> Signup and view all the answers

    The practice of ensuring that a company's operations reflect ethical considerations is known as __________.

    <p>business ethics</p> Signup and view all the answers

    Match the following concepts to their definitions:

    <p>Sustainable Development = Meeting present needs without compromising future generations Corporate Responsibility = A commitment by companies to behave ethically and contribute to economic development Stakeholder Theory = A framework that posits that a company should consider the interests of all parties affected by its activities Business Ethics = The principles that guide behavior in the world of business</p> Signup and view all the answers

    Which of the following is NOT a principle of corporate citizenship?

    <p>Profit Maximization</p> Signup and view all the answers

    Global warming is considered a business problem only for industries like oil and gas.

    <p>False</p> Signup and view all the answers

    Why is the concept of corporate citizenship important for businesses?

    <p>It enhances a company's reputation, fosters customer loyalty, and encourages sustainable practices.</p> Signup and view all the answers

    __________ refers to the ethical responsibility of businesses to ensure their operations are not harmful to society or the environment.

    <p>Corporate responsibility</p> Signup and view all the answers

    Match the following terms to their associated practices:

    <p>Environmental Stewardship = Reducing emissions and waste Ethical Labor Practices = Ensuring fair wages and safe working conditions Community Engagement = Supporting local initiatives and nonprofits Transparency = Openly communicating business practices and policies</p> Signup and view all the answers

    Which of the following is a commonly cited benefit of integrating sustainability into business practices?

    <p>Enhanced brand loyalty and competitive advantage</p> Signup and view all the answers

    Stakeholder theory suggests that only shareholders should have a say in a company's operations.

    <p>False</p> Signup and view all the answers

    What role does globalization play in corporate responsibility?

    <p>Globalization encourages companies to adopt higher ethical standards due to the interconnectedness of markets and stakeholders.</p> Signup and view all the answers

    The __________ is a framework for assessing the environmental impacts of business practices.

    <p>triple bottom line</p> Signup and view all the answers

    Study Notes

    Book Title: The Business Environment

    • Second Edition
    • Authors: Paul Wetherly and Dorron Otter
    • Publisher: Oxford University Press

    Contents

    • List of cases
    • About the authors
    • About the book
    • How to use this book
    • How to use the Online Resource Centre
    • Acknowledgements
    • Detailed Contents (including specific chapter titles and authors)

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    Related Documents

    The Business Environment Themes and Issues PDF

    Description

    Test your knowledge on sustainable development frameworks and corporate responsibility. This quiz covers key concepts and definitions important for understanding the broader impact of business practices on society and the environment. See how well you can match ideas with their descriptions!

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