Reference no: EM1393355

1 A conservative interpretation and definition of corporate "social responsibility" would typically reflect the view that:

Corporate social responsibility should be mandated and closely regulated by the Securities and Exchange Commission in the United States.

There is insufficient government regulation in the U.S. in place to deal with corporate socially responsible decision-making.

Social responsibility decisions in business should be decided on Kant's Categorical Imperative since that is the highest ethical principle.

Profit-maximization by lawful means is socially responsible behavior and that market forces will deter corporate socially irresponsible conduct.

2 Social responsibility theories:

Are generally classified as modern ethical versions of Utilitarianism

Determine the moral worth of an action regardless of their consequences

Are largely precise legalistic formulations

Classify corporate social responsibility as typically the corporation engaging in community and civic affairs in a prudent manner.

3 Social responsibility is best described as a company being:

Saintly in the moral sense

Helpful in a prudent manner in the community

Lawful only

Altruistic to all stakeholders.

4 Someone who argues that General Motors owes an obligation to take into account the interests of the community where it has its Michigan factories in decisions involving the plant is arguing most directly for which theory to be applied to business?

Machiavellian ethics

Corporate social responsibility

Maximizing profits

Legal misfeasance

5 University of Chicago Professor Milton Friedman famously said about social responsibility:

The social responsibility of business is to make money legally.

Big multinational corporations must solve all the social problems in the world.

Business is immoral for not helping out in the community.

When in Rome, do as the Romans.

6 Which is a FALSE statement about social responsibility?

a. Social responsibility is a "real-world" concern for modern business managers; it is not merely an "academic" issue.

b. Social responsibility and ethical egoism are mutually exclusive and contradictory values.

c. A challenge for business today is to ascertain the exact nature and proper degree of social responsibility.

d. Social responsibility activities and contributions are mandated legally for large multinational global corporations by the World Bank and the United Nations.