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Exam 9: Corporate Social Responsibility

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Question 1

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Organizations are finding that in the area of Corporate Social Responsibility (CSR), it is becoming increasingly difficult to separate _______ organizational ethics from ______ social responsibility.

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Question 2

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Interface Carpets, a stellar example of sustainability in action, lists seven fronts of Mount Sustainability. Which is NOT one of the firm's goals to meet its total sustainability status?

A) Redesigning commerce
B) Sensitizing stakeholders
C) Using renewable energy
D) Ensuring benign emissions
E) Eliminating waste
F) Competing through cost

G) B) and E)
H) C) and D)

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Question 3

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Even if socially responsible business practices are costly, firms must perform them anyway.

An organization that does not fulfill its philanthropic responsibilities is acting unethically.

Some analysts argue that the more stringent regulatory environment resulting in the post Sarbanes-Oxley period increases shareholder confidence in financial reporting.

______ ______ ______ (3 words) are those shareholders who clearly care about the financial and the social bottom line of a business.

The term __________ is sometimes used to represent harmony among three dimensions of economic, social and environmental impacts.

Over the long run, to be successful, firms with excellent socially responsible strategies need to worry less about their business strategies.

According to the Corporate Social Responsibilities (CSR) pyramid, the __________ responsibility is a societal expectation that is not necessarily codified into law.

In the __________ perspective, social responsibility is seen as appropriate because it is "the right thing to do."

The three reasons that corporations should care about social responsibility are ______, ______ and ________.

Since the passage of Sarbanes-Oxley few firms have been prosecuted and fewer high level executives have received jail terms proving convincingly that the legislation is flawed.

The most strategic CSR initiatives are those that remove the social dimension from the firm's overall competitive strategy.

Which of the items listed is NOT a product of a "favorable corporate reputation."

According to the Corporate Social Responsibilities (CSR) pyramid, the __________ responsibility is considered to be of primary importance to organizations.

Constructive engagement of stakeholders, including critics, is replacing the "just trust us" plea of yesteryear as executives conclude that the plea rarely works in a world of regular corporate scandals.

According to Harvard Professor Michael Porter, the strategic reason for having CSR play a prominent role in a firm is that in evaluating the firm's CSR, executives should begin by scrutinizing the social impacts of the company's value chain.

The ______ reason, why corporations should care about social responsibility, is based upon the recognition that business must use its power responsibly in society or risk losing it. Corporations exist as legal entities with certain advantages (such as limited liability) because society allows them to do so, and these corporate rights and advantages can be removed from firms that are perceived to be irresponsible.

The pragmatic approach is more proactive and affirmative than the strategic approach because it asks companies to identify and acknowledge company activities that can do harm and encourages firms to scrutinize their practices and address potential harms by focusing on their own value-chain activities.

Referring to the Corporate Social Responsibility (CSR) pyramid, how do legal responsibilities differ from ethical responsibilities? Provide specific examples to support your distinction.