WEEK 1 QUIZ EXAM QUESTIONS 45 TERMS WITH VERIFIED DEFINITIONS UPDATED 2024

WEEK 1 QUIZ EXAM QUESTIONS (45 TERMS) WITH VERIFIED DEFINITIONS UPDATED 2024 Government in Canada is very influential over corporate decision-making. ABC Corporation is negotiating with aboriginal groups regarding forestry practices in their region and the government is facilitating the process. Influence and power, in this case, is not held by any one institution and is dispersed. This example reflects the operation of a ________ society. A) pluralist B) collective C) multicultural D) business-oriented E) stakeholder The government of Canada recently sold off its remaining shares in Petro Canada. The government, in performing this transaction, is acting as which type of stakeholder? A) Owner B) Director C) Supplier D) Consumer E) Government Which of the following statements regarding employees as stakeholders is incorrect? A) Part-time employment is becoming a more common strategy to hiring employees. B) Employees are considered one of the more obvious and, perhaps, most important stakeholders .C) Managers are considered employees. D) Employees are individuals who work for the corporation E) All primary stakeholders can be considered employees. A news report came out in Saskatchewan that the beef supplier for "Burgers R Us" was not implementing hygienic practices. All of the following stakeholders are likely to have discussed a change of approach to purchasing meat with "Burgers R Us", except: A) The Owners, Lenders, and Creditors B) The Current Supplier C) The Media D) The Government E) The Customers and the General Public 5) Cathy drinks a lot of coffee to help her stay awake during midterms. However will only purchase coffee that is produced under conditions that guarantee good working conditions for the labourers and respect for human rights and environmental protection. Cathy is a consumer of: A) Product Red brand B) Boycotted products C) Whole Foods Market D) Fairtrade products E) Green products Janet is on the board of directors for SPT Corporation. Which of the following assumptions about Janet's involvement with SPT Corporation is incorrect? A) In her role as a board member, Janet is responsible for the functioning of SPT Corporation B) Janet is not a shareholder of SPT Corporation C) Janet is a competitor of SPT Corporation. D) Janet was elected by the shareholders to this role .E) Janet's position on the board is not permanent. 7) Samuel has been asked by the manager of his department to compile a list of all the stakeholders relevant to the industry so that they can ensure that in the future all stakeholder interests are appropriately considered. Samuel spends the entire weekend on the task, but it looks like he will never finish the task. Which of the following is not a reason why Samuel is having difficulty? A) He is not on the best position to do the task .B) New stakeholders emerge all the time. C) Their involvement varies between corporations. D) Stakeholders influence shifts over time. E) You cannot list all the stakeholders. Examples of primary stakeholders include all of the following, except:A) Customers B) Competitors C) Unions D) Creditors E) Communities In determining where to locate a factory, BCS Corporation develops a list of stakeholders. Francois encourages the management to locate in a community with high unemployment because it will help a community become more economically stable. Mark states that it is important to consider whether the company will be able to arrange for raw materials to be shipped to the factory for production. Sarah notes that by relocating the firm should consider the environmental group, STOP, that used to picket the company, even though it hasn't been heard from for years. Which stakeholders should the company not necessarily consider in their decision? A) Government B) Suppliers C) Community in which they may locate D) Media E) The environmental group, STOP In terms of categorizing stakeholders, primary interaction occurs with all of the following, except: A) Media B) Unions C) Suppliers D) Owners E) Creditors Secondary interactions include all of the following, except: A) the general public B) business support groups C) government D) investors E) local communities 12) Normative stakeholders include all of the following, except: A) consumers B) competitors C) suppliers D) employees E) financers Derivative stakeholders are all of the following, except: A) have power over the corporation B) are typically financers C) are those to whom the organization has no obligation D) are those from whom the corporation has not accepted benefits E) may exert harmful influences ABC Corporation is a forestry company that is attempting to develop more sustainable approaches to forestry in order to preserve the land for use by future generations. They receive considerable support from mainstream environmental groups. Eco-terrorists, who will sabotage trees in such a way as to injure the forestry worker who is cutting the tree, do not believe that ABC Corporation is doing enough. Which of the following stakeholders should ABC consider in its decisions about forestry? A) Media B) Eco-terrorism environmental groups C) Mainstream environmental groups D) Employees E) All stakeholders should potentially be considered. A manager is a unique stakeholder because: A) They deal directly with multiple other stakeholders B) They are affected by the organization C) They cannot be a shareholder D) They can affect the organization E) They can be a manager and shareholder There is opposition to the stakeholder concept for all of the following reasons, except: A) Dilution of top management focus B) Practicality of shared governance C) Each of them have different expectations D) Stakeholders often have contrary objectives E) They are difficult to categorize Frank thinks that it is inappropriate for his company, BSD Corporation, to spend valuable company time and resources on meeting with stakeholder groups. He, and others who oppose stakeholder involvement, identify the following rationale(s): A) It is necessary for business success. B) Corporations are not designed to benefit shareholders. C) Managing so many stakeholders diverts management's attention away from the business. D) Responding to stakeholders' interest does not produce loyalty. E) There is an agreement on priorities. 18) Advocates of the stakeholder concept: A) believe that shareholders are a principal stakeholder. B) feel it is necessary to not only recognize the interests of all stakeholders but also to promote the loyalty of other individuals and groups. C) argue that an appreciation for stakeholders is fundamental to understanding how to make money. D) believe that responding to stakeholders is simply good business. E) All of the above are true statements advocating the stakeholder concept. Following a media report highlighting a lack of hygienic meat handling practices by its suppliers, Burgers R Us realized they should have been engaged in ________, a process to respond to the economic, social, and environmental problems that they might face in the future. A) stakeholder management B) strategy C) environmental management D) media control E) issues management All of the following are main issues in the banking industry, except: A) executive compensation B) service charges C) government regulation D) credit card charges E) issues management 21) The purposes of issues management include all of the following, except: A) It can prepare managers for most issues that can arise. B) It is more systematic in dealing with concerns. C) It provides a mechanism for coordination. D) It serves as an early warning system. E) It provides a framework for assessment. The benefits of issues management include all of the following, except: A) Corporation's credibility is enhanced B) Enables corporations to identify issues earlier C) Corporate behaviour is more consistent with societal expectations D) Reduces the firm's competitive advantage E) Corporation's vulnerability is decreased 23) The issue life cycle outlines the stages through which an issue progresses. Those stages are: A) Introduction, growth, maturity, decline, and resolution B) Awareness, growth, prominent, threatening, and decline C) None or little, awareness, increasing, prominent, peak, and declining D) Introduction, growth, maturity, and decline E) None or little, increasing, prominent, peak, and declining A furniture store has just discovered that the lumber used to make its furniture was extracted from an ancient forest. Later that week they received a letter from an environmental group stating that all furniture stores using lumber from ancient forests are receiving this letter as a warning to find alternate sources for their lumber or the store will be picketed. This furniture store is in what stage of the issue life cycle? A) Growth B) Peak C) Awareness D) Increasing E) Prominent Sable is excited about her new job. As marketing manager for NMO Corporation, she is hoping to help the company adopt more environmentally friendly packaging. She brings up the issue with the management team, who state that they had never given the issue much thought. NMO Corporation is at what stage in the issue life cycle? A) Peak B) Increasing C) Prominent D) Declining E) None or little Jack recently purchased a small furniture store that specializes in handmade, high quality products. The company, when he purchased it, relied almost exclusively on wood from old growth forests. He temporarily closes the business until a supplier of sustainable wood products can be found. The company is at what stage of the issue life cycle? A) Growth B) Prominent C) Increasing D) Awareness E) Peak Who is the author of Anatomy of a Crisis? A) Norman Augustine B) Adam Smith C) Johnathan Berstein D) Adam Augustine E) Steven Fink The four stages proposed in the Anatomy of a Crisis include: A) Pre-crisis, mid-crisis, post-crisis, and peak-crisis B) Prodromal, peak, acute, and continuous C) Prodromal, resolved, crisis, and peak D) Prodromal, acute, chronic, and resolution E) Pre-acute, acute, pre-chronic, and chronic 29) In which stage of the Anatomy of a Crisis does the corporation receive some warning, however subtle, that a crisis is lurking? A) Chronic B) Prodromal C) Resolution D) Pre-chronic E) Peak 30) An alternative to the Anatomy of a Crisis, called the Six Stages of Crisis Management, was developed by: A) Adam Smith B) Adam Augustine C) Johnathan Berstein D) Steven Fink E) Norman Augustine