Question 1

Market stakeholders include nongovernmental organizations and the media.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following statements is not true about the interactive social system?

Accepted Answer

A)   Business and society need, as well as influence, each other.
B)   The boundary between business and society is clear and distinct.
C)   Business is a part of society, and society penetrates far and often into the business.
D)   Business and society are both separate and connected.E) A) and B)
F) C) and D)

Question 3

Stakeholders involved with one part of a company often may have little or no involvement with another part of the company.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following statements is (are)  correct about stakeholder' power?

Accepted Answer

A)   Different stakeholders have different types and degrees of power.
B)   Stockholders' voting power is limited to the percentage of stock owned by the stockholder.
C)   It uses resources to achieve a desired decision or outcome.
D)   All of the above.E) None of the above
F) A) and B)

Question 5

Which argument says that stakeholder management realistically depicts how companies really work?

Accepted Answer

A)   Descriptive argument.
B)   Instrumental argument.
C)   Normative argument.
D)   Fiduciary argument.E) B) and C)
F) A) and D)

Question 6

Nonmarket stakeholders are those that engage in economic transactions with the company as it carries out its primary purpose of providing society with goods and services.

Accepted Answer

A) True 
 B)False

Question 7

Stakeholders stand out to managers when they exhibit:

Accepted Answer

A)   Integrity, power, and legitimacy.
B)   Power, legitimacy, and urgency.
C)   Integrity, loyalty, and power.
D)   Legitimacy, loyalty, and urgency.E) C) and D)
F) All of the above B

Question 8

Describe and give examples of the external forces that shape the relationship between business and society.

Accepted Answer

The relationship between business and so...

Question 9

A stakeholder analysis:

Accepted Answer

A)   Creates equality among all stakeholder interests.
B)   Allows managers to examine two primary questions.
C)   Involves understanding the nature of stakeholder interests.
D)   All of the above.E) A) and D)
F) All of the above

Question 10

The four types of stakeholders' power recognized by most experts are:

Accepted Answer

A)   Voting, economic, political, and legal power.
B)   Social, legal, environmental, and political power.
C)   Social, regulatory, voting, and media power.
D)   Economic, media, legal, and political power.E) A) and B)
F) A) and C)

Question 11

A stakeholder map is a useful tool, because it enables managers to see quickly how stakeholders feel about an issue and whether salient stakeholder tend to be in favor or opposed.

Accepted Answer

A) True 
 B)False

Question 12

What kind of power might a local community use to influence a company's decisions?

Accepted Answer

A)   Publicizing an issue.
B)   Lobbying government policy makers for regulations.
C)   Challenging whether a business activity should continue to operate.
D)   All of the above.E) B) and C)
F) B) and D)

Question 13

Departments, or offices, within an organization that reach across the dividing line that separated the company from groups and people in society are:

Accepted Answer

A)   Inter-departmental divisions.
B)   Geographical location areas.
C)   Boundary-spanning departments.
D)   Organizational maps.E) All of the above
F) A) and B) C

Question 14

The stakeholder theory of the firm argues that a firm's sole purpose is to create value for its shareholders.

Accepted Answer

A) True 
 B)False

Question 15

A successful business must meet its:

Accepted Answer

A)   Economic objectives.
B)   Social objectives.
C)   Economic and social objectives.
D)   Top executives' expectations.E) A) and B)
F) B) and C)

Question 16

Customers can exercise economic stakeholder power by:

Accepted Answer

A)   Voting on a proposed merger for the company and a competitor.
B)   Boycotting products if they believe the goods are too expensive.
C)   Attending the company's annual meeting.
D)   Applying for a job with the company.E) All of the above
F) B) and D)

Question 17

The interests of different stakeholders often coincide.

Accepted Answer

A) True 
 B)False  True

Question 18

Which of the following is not considered to be a nonmarket stakeholder?

Accepted Answer

A)   Government agencies.
B)   The natural environment.
C)   Activist groups.
D)   Non-governmental organizations.E) B) and C)
F) A) and B)

Question 19

Which of the following examples best illustrates the boundary exchanges a company would encounter according to the general systems theory?

Accepted Answer

A)   An industrial company installs new equipment in its plant to comply with environmental regulations.
B)   A software company develops an application for a client.
C)   A purchasing department employee negotiates a price on parts from a supplier.
D)   All of the above.E) All of the above
F) B) and C)

Question 20

A number of European countries require public companies to include employee members on their boards of directors, so:

Accepted Answer

A)   The employees are available to answer questions.
B)   Management does not have to attend the meetings.
C)   That their interests will be explicitly represented.
D)   They have more power than any other stakeholder.E) B) and C)
F) A) and B)

Exam 1: The Corporation and Its Stakeholders

Market stakeholders include nongovernmental organizations and the media.

Correct AnswerverifiedShow Answer

Which of the following statements is not true about the interactive social system?

Correct AnswerverifiedShow Answer

Stakeholders involved with one part of a company often may have little or no involvement with another part of the company.

Correct AnswerverifiedShow Answer

Which of the following statements is (are) correct about stakeholder' power?

Correct AnswerverifiedShow Answer

Which argument says that stakeholder management realistically depicts how companies really work?

Correct AnswerverifiedShow Answer

Nonmarket stakeholders are those that engage in economic transactions with the company as it carries out its primary purpose of providing society with goods and services.

Correct AnswerverifiedShow Answer

Stakeholders stand out to managers when they exhibit:

Correct AnswerverifiedB

Describe and give examples of the external forces that shape the relationship between business and society.

Correct AnswerAnswered by ExamLex AIThe relationship between business and so...View AnswerShow Answer

A stakeholder analysis:

Correct AnswerverifiedShow Answer

The four types of stakeholders' power recognized by most experts are:

Correct AnswerverifiedShow Answer

A stakeholder map is a useful tool, because it enables managers to see quickly how stakeholders feel about an issue and whether salient stakeholder tend to be in favor or opposed.

Correct AnswerverifiedShow Answer

What kind of power might a local community use to influence a company's decisions?

Correct AnswerverifiedShow Answer

Departments, or offices, within an organization that reach across the dividing line that separated the company from groups and people in society are:

Correct AnswerverifiedC

The stakeholder theory of the firm argues that a firm's sole purpose is to create value for its shareholders.

Correct AnswerverifiedShow Answer

A successful business must meet its:

Correct AnswerverifiedShow Answer

Customers can exercise economic stakeholder power by:

Correct AnswerverifiedShow Answer

The interests of different stakeholders often coincide.

Correct AnswerverifiedTrue

Which of the following is not considered to be a nonmarket stakeholder?

Correct AnswerverifiedShow Answer

Which of the following examples best illustrates the boundary exchanges a company would encounter according to the general systems theory?

Correct AnswerverifiedShow Answer

A number of European countries require public companies to include employee members on their boards of directors, so:

Correct AnswerverifiedShow Answer

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B

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Answered by ExamLex AI
The relationship between business and so...
View Answer

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C

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True

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