What is social responsibility?
A. The moral principles that represent a person or group
B. How companies conduct themselves in terms of their practices and policiesas they relate to doing right by stakeholders and shareholders
C. An ethical concept that implies that companies have a duty to society and the environment
D. None of the answers are correct.
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If you face an ethical dilemma, what should your first step be in resolving the issue?
A. Contact the regulators
B. Stay quiet
Check your facts
D. None of the above
Social responsibilty is a business obligation to pursue policies, make decisions, and take actions that benefit society.
A. True
B. False
Economic Responsibility is a company's social responsibility to obey a society's law.
A. True
B. False
Which statement correctly reflects the free market view of business social responsibility?
A. In addition to making a profit, businesses are just as responsible for seeing to the well-being of their employees and the communities in which they operate
B. No one other than the managers and owners of a business may claim to have any stake in the business decisions managers make.
C. In the process of providing goods and services to customer who need and want them and maximizing profits for its shareowners, a business fulfills its social responsibility
D. A business is responsible for maximizing profits for its shareowners, but, in special circumstances, may have to sacrifice profits in the interest of the community whose citizens depend on it for employment.
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