Chapter 2

Question 1

Helps identify internal and external stakeholders

Answer 1

Stakeholder framework

Question 2

The formal system of accountability and control of ethical and socially responsible behavior

Answer 2

Corporate governance

Question 3

Those who have a stake or claim in
some aspect of a company’s products, operations,
markets, industry, and outcomes

Answer 3

Stakeholder

Question 4

2 types of stakeholders

Answer 4

Primary Stakeholders
Secondary Stakeholders

Question 5

those whose continued association is absolutely necessary for a firm’s survival

Answer 5

Primary Stakeholders

Question 6

do not typically engage in transactions with the firm and are not essential to a firm’s survival

Answer 6

Secondary Stakeholders

Question 7

An organization’s obligation to maximize its positive impact on stakeholders and minimize its negative impact

Answer 7

Social Responsibility

Question 8

Four levels of social responsibility

Answer 8

1. Economics
2. Legal
3. Ethical
4. Philanthropic

Question 9

Top 10 Companies with the
Best CSR Reputations

Answer 9

1. Google
2. Microsoft
3. Walt Disney
4. BMW
5. Lego
6. Daimler
7. Apple
8. Rolls Royce
9. Rolex
   10.Intel

Question 10

Founded by Gordon Moore and Robert Noyce, on JULY 18, 1968(USA)

Answer 10

Intel

Question 11

Founded by Hans Wilsdorf and Alfred Davis(1905) at United Kingdom

Answer 11

Rolex

Question 12

Founded by Peter Schwarzenbauer(1998) at United Kingdom

Answer 12

Rolls Royce

Question 13

Founded by Steve Jobs and Steve Wozniak on APRIL 1, 1976 at USA

Answer 13

Apple

Question 14

Founded by Ola Kallenius on JUNE 28,1926 at Germany

Answer 14

Daimler

Question 15

Founded by Ole Kirk Christiansen(1949) at Denmark

Answer 15

Lego

Question 16

BMW Stands for:

Answer 16

Bayerishe Motoren Werke

Question 17

Founded by Camillo Castiglioni and Franz Josef Popp and Karl Rapp on MARCH 7, 1916 at Germany

Answer 17

BMW

Question 18

Founded by Walter Elias Disney(1946) at USA

Answer 18

Walt Disney

Question 19

Founded by Bills Gates and Paul Allen on APRIL 4, 1975

Answer 19

Microsoft

Question 20

Founded by Larry Page and Sergey Brin on September 4, 1998 at USA

Answer 20

Google

Question 21

The extent to which businesses strategically meet their economic, legal, ethical, and philanthropic responsibilities

Answer 21

Corporate Citizenship

Question 22

one of an organization’s
greatest intangible assets with tangible
value

Answer 22

Reputation

Question 23

4 Social Responsibility
Issues

Answer 23

Social
Consumer protection
Sustainability
Corporate governance

Question 24

Deals with concerns that affect the welfare of our entire society, associated with the common good

Answer 24

Social

Question 25

The company has the responsibility of taking precautions to prevent consumer harm

Answer 25

Consumer protection

Question 26

Businesses can no longer afford to ignore the natural environment as a stakeholder

Answer 26

Sustainability

Question 27

Research shows it has a strong positive relationship with social responsibility Formal systems of accountability, oversight, and control

Answer 27

Corporate governance

Question 28

3 types/system of corporate governance

Answer 28

Accountability Oversight Control

Question 29

How closely workplace decisions align with a firm’s strategic direction

Answer 29

Accountability

Question 30

A system of checks and balances to minimize opportunities for misconduct

Answer 30

Oversight

Question 31

The process of auditing and improving organizational decisions and actions

Answer 31

Control

Question 32

Founded in classic economic precepts

Answer 32

Shareholder model

Question 33

A broader view of the purpose of business

Answer 33

Stakeholder model

Question 34

Holds final responsibility for its firm’s success, failure, and ethicality of actions

Answer 34

Role of Board of Directors