The stakeholder model
of corporate social responsibility (CSR) views business as a citizen of the society in which it operates and, like all members of a society, business must conform to the normal range of ethical duties and obligations that all citizens face.
Which of the following theories recognizes the fact that every business decision affects a wide variety of people benefiting some imposing costs?
Stakeholder theory
recognizes the fact that every business decision affects a wide variety of people, benefiting some and imposing costs on others.
Which of the following is a similarity between utilitarianism and stakeholder theory?
Which of the following is a similarity between utilitarianism and stakeholder theory?
Both consider the consequences of management decisions for the well-being of all affected groups
. You just studied 10 terms!
When a firm engages in socially responsible activities with a prime focus on reputation: a.
social responsibility tend to become a form of social marketing
.
A feature of the economic model of corporate social responsibility (CSR) is that it: A.
states that profit is independent of optimal allocation of resources.
… holds pursuit of profit as the sole duty of business.
Which of the following is a traditional approach to corporate culture?
Which of the following is a traditional approach to corporate culture?
Compliance-based, Compliance-based culture
is a traditional approach to corporate culture.
Is generally referred to as the responsibilities that a business has to the society in which it operates?
What Is
Social Responsibility
? Social responsibility means that businesses, in addition to maximizing shareholder value, must act in a manner that benefits society.
Milton Friedman's statement that management is to make as much money as possible within the limits of the law and ethical custom embraces three components of the CSR pyramid—
economic, legal, and ethical
.
What is Ackerman model?
The Ackerman Model is
a bargaining approach that is based on the offer-counter-offer system
. Unlike the traditional “split the difference” approach, it uses the tapering principle to bring down the amount in a bargaining negotiation.
Stakeholder theory posits that the
essence of business primarily lies in building relationships and creating value for all its stakeholders
. … Instead, CSR focuses on one stream of business responsibilities – responsibility to local communities and society at large – to ensure business does deliver on it.
Which of the following best explains how a person's ethics are formed?
Which of the following best explains how a person's ethics are formed?
They are created through interactions with several groups and communities
.
What is the difference between a principle based framework of ethics and utilitarianism?
What is the difference between a principle-based framework of ethics and utilitarianism?
Ethics of principles is based on rules, whereas utilitarianism is based on consequences
. No group could function if members were free at all times to decide for themselves what to do and how to act.
– The two ethical justifications for the economic model are
the utilitarian and individual rights or private property defenses
.
- Environmental Responsibility. …
- Ethical Responsibility. …
- Philanthropic Responsibility. …
- Economic Responsibility.
Why are models used in economics?
An economic model is
a simplified version of reality that allows us to observe, understand, and make predictions about economic behavior
. The purpose of a model is to take a complex, real-world situation and pare it down to the essentials. … Often, models are used to test theories.
The integrative model of social responsibility, which involves
the stakeholder theory and moral minimum theory
, and the philosophical ethical theory of utilitarianism are the most responsible approaches to business because they involve the standards of knowing who your actions affect, knowing how to help the most …
