Test Bank Complete_ Business and Society: Stakeholders, Ethics Public Policy 17th Edition, (2022) By Anne T. Lawrence & James Weber All Chapters 1-19| Complete Solutions
SOLUTION MANUAL for Business and Society Stakeholders Ethics Public Policy 17th Edition By Lawrence All Chapters 1 to 19 complete Verified editon ISBN:9781265079246
TEST BANK for Business and Society 17th Edition by Lawrence & Weber, ISBN: 9781265079246, All 19 Chapters Covered, Verified Latest Edition
All for this textbook (23)
Written for
Business and Society Stakeholders Ethics Public
All documents for this subject (36)
Seller
Follow
TestsBanks
Reviews received
Content preview
Created By : TestsBanks
Test Bank for Business and Society Stakeholders Ethics Public
Policy 17th Edition By Anne Lawrence Chapter 1-19
Answers are at the end of Each chapter
Chapter 1
Student name:__________
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) A business is any organization that is engaged in making a product or providing a
service for a profit.
⊚ true
⊚ false
2) The term stakeholder refers exclusively to the founders of a business organization.
⊚ true
⊚ false
3) Businesses and society are independent of each other.
⊚ true
⊚ false
4) The stakeholder theory of the firm argues that a firm’s sole purpose is to create
long-term value for its shareholders.
⊚ true
⊚ false
5) The instrumental argument for the stakeholder theory of the firm says that companies
perform better if they consider the rights and concerns of multiple groups in society.
⊚ true
⊚ false
6) The normative argument for the stakeholder theory of the firm says that the
stakeholder view is simply a more realistic description of how companies really work.
⊚ true
⊚ false
Instant Download
Page 1
,Created By : TestsBanks
7) 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.
⊚ true
⊚ false
8) Market stakeholders include nongovernmental organizations and business support
groups.
⊚ true
⊚ false
9) Government can be considered both a market and a nonmarket stakeholder.
⊚ true
⊚ false
10) The interests of different stakeholders often coincide.
⊚ true
⊚ false
11) The first step of stakeholder analysis is to identify relevant stakeholders.
⊚ true
⊚ false
12) Some scholars have suggested that managers pay the most attention to
stakeholders possessing the least salience.
⊚ true
⊚ false
13) The organization of a corporation’s boundary-spanning functions is complex.
⊚ true
⊚ false
14) Businesses are increasingly trying to meet their commitments to multiple
stakeholders.
⊚ true
⊚ false
15) The external environment of business is static.
Instant Download
Page 2
,Created By : TestsBanks
⊚ true
⊚ false
MULTIPLE CHOICE - Choose the one alternative that best completes the
statement or answers the question.
16) The relationship between business and society is most accurately described by
which statement?
A) Business is an unbounded entity within the larger bounded entity of society.
B) Society is a distinct bounded entity within the larger bounded entity of business.
C) Business is a distinct bounded entity separate from the bounded entity of society.
D) Business is a distinct bounded entity within the larger bounded entity of society.
17) According to general systems theory, boundary exchanges are exemplified by which
of the following?
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 with a supplier.
D) All of these choices are correct.
18) The inseparable relationship between business and society results in which of the
following?
A) All business decisions have a social impact.
B) The vitality of business depends on society's actions and attitudes.
C) The survival of business is independent of society.
D) Both “All business decisions have a social impact” and “The vitality of business
depends on society’s actions and attitudes” are correct.
19) Which of the following statements is not true about the interactive social system?
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 business.
D) Business and society are both separate and connected.
20) A firm subscribing to the shareholder theory of the firm would mainly be concerned
with providing long-term value for its
A) investors.
Instant Download
Page 3
, Created By : TestsBanks
B) customers.
C) board of Directors.
D) community.
21) Corporations that follow the stakeholder theory of the firm create value by
A) constantly innovating new products.
B) increasing their stock price.
C) developing their employees’ skills.
D) All of these choices are correct.
22) Which argument says that stakeholder management realistically depicts how
companies really work?
A) descriptive argument
B) instrumental argument
C) normative argument
D) fiduciary argument
23) The instrumental argument states that stakeholder management is
A) a more realistic description of how companies really work.
B) more effective as a corporate strategy.
C) simply the right thing to do.
D) determined by the amount of stock issued.
24) The fiduciary duty of managers benefits a firm's
A) shareholders.
B) customers.
C) employees.
D) All of these choices are correct.
25) The main reason a number of European countries require public companies to
include employee members on their boards of directors is that
A) the employees will be available to answer other board members' questions.
B) management will not have to attend the meetings.
C) employees' interests will be explicitly represented.
D) employees will have more power than any other stakeholder.
26) Stakeholder groups can include
A) shareholders.
Instant Download
Page 4
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TestsBanks. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
