Chapter 2—Social Responsibility MULTIPLE CHOICE 1. Stakeholders' power over businesses stems from their a. ability to withdraw or withhold resources. b. ability to generate profits. c. media impact. d. political influence. e. stock ownership. ANS: A PTS: 1 2. Those who have a claim in some aspect of a firm's products, operations, markets, industry, and outcomes are known as a. shareholders. b. stockholders. c. stakeholders. d. claimholders. e. special-interest groups. ANS: C PTS: 1 3. Which of the following do not typically engage in transactions with a company and thus are not essential for its survival? a. Employees b. Secondary stakeholders c. Primary stakeholders d. Investors e. …show more content…
ANS: A PTS: 1 15. Public health and safety and support of local organizations are issues most relevant to which stakeholder group? a. Investors b. Community c. Suppliers d. Customers e. Employees ANS: B PTS: 1 16. Minimizing the use of energy and reducing emissions and waste are issues of importance to which stakeholder? a. Environmental groups b. Suppliers c. Employees d. Industry leaders e. Investors ANS: A PTS: 1 17. The idea that the mission of business is to produce goods and services at a profit, thus maximizing its contribution to society is associated with a. Adam Smith. b. Theodore Levitt. c. Norman Bowie. d. Herman Miller e. Milton Friedman. ANS: E PTS: 1 18. The originator of the idea of the invisible hand, which is a fundamental concept in free market capitalism, was a. Adam Smith. b. Theodore Levitt. c. Norman Bowie. d. Herman Miller e. Milton Friedman. ANS: A PTS: 1 19. Some economists believe that if companies address economic and legal issues, they are satisfying the demands of society, and that trying to anticipate and meet additional needs would be almost impossible. Which economist’s theory are they following most closely with this belief? a. Adam Smith. b. Theodore Levitt. c. Norman Bowie. d. Herman Miller e. Milton Friedman. ANS: E PTS: 1 20. _____ argued that, although profits are required for business, profit is not the primary
Many firms are learning that being environmentally friendly and sustainable has numerous benefits. (O.C Ferrell, Fraedrich, Ferrell, 2015). This could enable them to increase goodwill from various stakeholders and also save money in the long term. This will mean that they are being more efficient and less wasteful of resources, which will enable them to be more competitive by satisfying stakeholders. The CEO of
Philosopher and educator Paulo Freire once said, “Education either functions as an instrument which is used to facilitate integration of the younger generation into the logic of the present system and bring about conformity or it becomes the practice of freedom, the means by which men and women deal critically and creatively with reality and discover how to participate in the transformation of their world.” In Freire’s work of “the Banking Concept of Concept”, he describes how the education system is failing to help student find success in the real world as well as it provides a framework for the “teachers” to oppress the “students” through the distribution of power.
The following international, national, and local agencies are aimed at keeping the public safe while seeking optimum health and well-being for all citizens involved. They provide assessments, develop policies, assurance, meet unmet needs, and enable access to health care (McCowan, 2013). They hone communities’ capabilities to respond effectually to health issues by shielding and endorsing the health of the community and its residents (McKenzie & Pinger, 2016-b).
Our mission is to be successful and profitable, but will not do so by unethical means. We will operate responsibly and honestly. Our company strives to be socially and economically responsible, and these goals can only
Milton Friedman believed a free-market system, in which goods and services are exchanged and controlled by individuals and privately-owned businesses without government authority, was the only way to achieve personal freedom. Adam Smith, a 18th century philosopher and economist, held the belief that in a free society, the role of government should be limited to the protection of the people, the administration of justice through the court system, and the maintenance of all public resources. Adam Smith developed the concept of the “invisible hand” theory, which says within a society that is free of government interference, individuals can pursue actions out of their own self-interest, and the collective result of this
Next on the MAPP four assessments is Local Public Health System Assessment. Local Public Health System Assessment focuses on all of the organizations and entities that contribute to the public 's health. The LPHSA answers the questions: "What are the components, activities, competencies, and capacities of our local public health system?" and "How are the Essential Services being provided to our community?"(NACCHO, 2017). Any organization or entity that contributes to the health or well-being of a community is considered part of the public health system. Ideally, a group that is broadly representative of these public health system partners will participate in the assessment process. By sharing their diverse perspectives, all participants will gain a better understanding of each organization’s contributions, the interconnectedness of activities, and how the public health system can be strengthened (National Public Health Performance Standards Program, 2017). Essentials services should be provided to the community through community outreach programs. Community outreach programs provide the community with many informational resources not just in the aspect of healthcare alone but the overall well-being of
The relationship between the teacher and the student can be associated with two different methods of learning. Paulo Freire suggests the “The ‘Banking’ Concept of Education”, in which the teacher “fills the account” of the student with information and knowledge they have (318). Freire also explains the concept of “problem posing” learning that contradicts the “banking” concept. This way helps the student become more involved with their education, and they are able to become a more well-rounded student. But Freire ignores to add any supporting detail to his points based on how a student feels about each method of education. Determining the best way of an education is all
Every business has a social responsibility toward society. That means to maximize positive affects and minimize negative affects on the society. Social responsibilities includes economic-to produce goods and services, that society needs at the price, that satisfy both-business and consumers, legal
The math teacher was babbling on about how this specific formula worked and halfway through her example I noticed that she had made a mistake. I hesitated a hundred times before raising my hand. It felt almost wrong because usually no one spoke up unless they had to go to the bathroom or get a drink which we all know that was just an excuse so we didn’t have to hear the teacher talk about something we weren’t interested in at that moment. According to Freire, we were taught within the banking system of education to accept our ignorance as justifying the teacher’s existence (319). In other words, students were “trained” in a way to keep
Companies today are heavily influenced by the demands of customers and stakeholders. Corporate social responsibility (CSR) refers to the social and environmental responsibility policies and practices developed by an organization to increase its positive influence and reduce its negative activity towards society (Parks, 2008). The business approach and corporate philosophy of an organization is easily altered due to economic pressures, technological improvement and stakeholder needs and demands. "Going green" or being eco-friendly is one such demand. Environmental and sustainability concerns originate most often from governments, consumer activists, and the general public (Schlosser, 2008). Thus, organizations must implement sustainability into daily practices. In addition, sustainability alters the nature of competition and drives companies to think differently about products, processes, and technologies (Parks, 2008).
The Bank of the United States is a symbol of the long held American fear of centralization and government control. The bank was an attempt to bring some stability and control and was successful at doing this. However, both times the bank was chartered, forces within the economy ultimately destroyed it. The fear of centralization and control was ultimately detrimental to the U.S. economy.
‘ The Invisible Hand’. It just relates to a one person. Obvious that is Adam Smith. Even though, after ten years or thousand years the economists will recall Adam Smith. Moreover, if you visit United Kingdom you can recognize Adam Smith face in the 50 and 20 pounds. ‘Man is an animal that makes bargains”- Adam Smith (Brainy Quote, (n.d)). That is underling the people’s instinct when they make a deal. “A person, who received his education through hard work, is like an expensive Car’- Adam Smith (Brainy Quote, (n.d)). Adam Smith encouraged people to improve their education and work hard to differentiate in the workplace. Adam had distinctive ideas and recognition at a glance in the economic world. Thus, Smith presented his thought in his famous book The Wealth of Nations. This book is an important foundation for the modern economy. On the other hand, Adam Smith’s character traits, he was brilliant and accomplished. Also, he was so close to his mother. Adam Smith is founder father of modern economy.
Established in 1906 in Mangalore, Canara Bank is one of the largest banks in India. It is a public sector bank and currently has over 6000 branches and 10,000 ATMs across India. Formerly known as Canara Hindu Permanent Fund, it became known as Canara Bank in 1910. It was nationalised by the Government of India in 1969 along with 13 other major commercial banks. Canara Bank has several overseas branches in Bahrain, Doha, Dubai, Hong Kong, Leicester, London, Moscow (with SBI), New York, Shanghai, Sharjah, South Africa, and Tanzania.
Finding energy sources is an issue that polarizes scientists, politicians and citizens alike. The most critical points of this debate are at fossil fuels and renewable energy. Energy efficiency is arguably the most dire concern facing the planet, because it significantly impacts all areas of everyday life. Common ground can be found in this controversy because both parties do agree that humans have a responsibility to future generations. That responsibility is to preserve the resources of the Earth, while offering this generation energy that is affordable and accessible.
External stakeholders cannot simply be identified or listed; they differ between organizations and industries. However, external stakeholders may be grouped into segments which are frequently involved in the organization’s activities: owners (shareholders), suppliers, customers and financiers. Other groups which could also have stakeholder status for an organization are the government (central and local), guilds and associations, and pressure groups who may or may not have an interest in the success of an organization with its present or future activities (Cook & Farqularson, 1998).