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What is one potential benefit of corporations taking voluntary steps in CR? A) Increased taxation B) Avoiding government intervention C) Higher employee turnover D) Decreased public trust E) Reduced product quality
B) Avoiding government intervention Explanation: By proactively engaging in CR, corporations can demonstrate their commitment to issues like health and safety, which may help them avoid regulatory interference.
What significant change in corporate purpose was noted by 181 heads of U.S. companies in April 2019? A) Focus solely on shareholder profit B) Promote an economy that serves all Americans C) Increase marketing budgets D) Reduce employee wages E) Expand international operations
B) Promote an economy that serves all Americans Explanation: The statement signed by 181 heads of U.S. companies marked a shift towards a corporate purpose that emphasizes serving all Americans, rather than focusing solely on shareholder profit.
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p.11
License to Operate

What is one potential benefit of corporations taking voluntary steps in CR?
A) Increased taxation
B) Avoiding government intervention
C) Higher employee turnover
D) Decreased public trust
E) Reduced product quality

B) Avoiding government intervention
Explanation: By proactively engaging in CR, corporations can demonstrate their commitment to issues like health and safety, which may help them avoid regulatory interference.

p.3
Historical Shift in Corporate Expectations

What significant change in corporate purpose was noted by 181 heads of U.S. companies in April 2019?
A) Focus solely on shareholder profit
B) Promote an economy that serves all Americans
C) Increase marketing budgets
D) Reduce employee wages
E) Expand international operations

B) Promote an economy that serves all Americans
Explanation: The statement signed by 181 heads of U.S. companies marked a shift towards a corporate purpose that emphasizes serving all Americans, rather than focusing solely on shareholder profit.

p.6
Corporate Responsibility (CR) Definition

What does a corporation ideally acknowledge in shaping a Corporate Responsibility (CR) strategy?
A) Only financial concerns
B) Only environmental concerns
C) The full spectrum of constituencies’ extra-financial concerns
D) Only governance concerns
E) Only social concerns

C) The full spectrum of constituencies’ extra-financial concerns
Explanation: A well-rounded CR strategy integrates social, environmental, governance, and other extra-financial concerns into corporate strategy and operations, reflecting a comprehensive approach to corporate responsibility.

p.6
Consumer Expectations and Corporate Purpose

What is the primary focus of an authentic CR strategy?
A) Short-term financial returns
B) Long-term success and sustainability
C) Maximizing quarterly profits
D) Reducing operational costs
E) Increasing stock prices

B) Long-term success and sustainability
Explanation: An authentic CR strategy emphasizes looking beyond short-term financial returns to focus on long-term success and sustainability, aligning corporate actions with societal expectations.

p.10
Walmart's Sustainability Strategy

According to Lee Scott, former CEO of Walmart, what is a primary focus of sustainability efforts?
A) Increasing product prices
B) Creating waste
C) Reducing costs through waste elimination
D) Expanding the workforce
E) Enhancing marketing strategies

C) Reducing costs through waste elimination
Explanation: Lee Scott emphasizes that sustainability efforts should focus on reducing costs by eliminating waste, which can be achieved through various methods such as recycling and energy efficiency.

p.1
Historical Shift in Corporate Expectations

Which economist famously argued that the primary responsibility of business is to increase profits?
A) John Maynard Keynes
B) Milton Friedman
C) Adam Smith
D) Karl Marx
E) Joseph Stiglitz

B) Milton Friedman
Explanation: Milton Friedman, a University of Chicago economist, argued that the social responsibility of business is to increase its profits, emphasizing a traditional view of corporate purpose.

p.6
Benefits and Criticisms of Corporate Responsibility

What did Porter and Kramer argue about CR?
A) It is irrelevant to business strategy
B) It can enhance a corporation’s competitiveness
C) It should only focus on financial performance
D) It is a temporary trend
E) It is solely a marketing tool

B) It can enhance a corporation’s competitiveness
Explanation: Porter and Kramer argue that a thoughtfully implemented CR strategy can enhance a corporation’s competitiveness by aligning business practices with societal needs.

p.2
Walmart's Sustainability Strategy

What percentage of Walmart's wild-caught seafood was certified under MSC by 2014?
A) 30%
B) 50%
C) 70%
D) 90%
E) 100%

D) 90%
Explanation: By 2014, 90% of Walmart's wild-caught seafood had received MSC certification, demonstrating significant progress in its sustainability efforts.

p.7
B Corporation Certification

As of 2020, how many states recognized B corporations?
A) 10 states
B) 20 states
C) 37 states
D) 50 states
E) 25 states

C) 37 states
Explanation: By 2020, 37 states had recognized B corporations, indicating a growing acceptance of this corporate structure that considers social and environmental interests.

p.1
Corporate Responsibility (CR) Definition

What is corporate responsibility (CR) primarily concerned with?
A) Maximizing profits only
B) Social and environmental obligations to constituencies
C) Reducing operational costs
D) Increasing shareholder dividends
E) Expanding market share

B) Social and environmental obligations to constituencies
Explanation: Corporate responsibility (CR) refers to a corporation's social and environmental obligations to its constituencies and greater society, highlighting the shift from profit-only motives to a broader responsibility.

p.11
CR Critics

What is a common criticism of Corporate Responsibility (CR) according to critics like Milton Friedman?
A) It enhances profitability
B) It distracts from core operations
C) It improves employee morale
D) It fosters innovation
E) It increases market competitiveness

B) It distracts from core operations
Explanation: Critics argue that CR detracts from a corporation's primary purpose of profit, suggesting that it can serve as a distraction from ethical questions related to their core business operations.

p.2
Walmart's Sustainability Strategy

What significant action did Walmart take regarding its seafood sourcing?
A) It stopped selling seafood altogether
B) It engaged the Marine Stewardship Council (MSC) for certification
C) It only sourced seafood from local fishermen
D) It increased prices on all seafood products
E) It began importing seafood exclusively from Asia

B) It engaged the Marine Stewardship Council (MSC) for certification
Explanation: Walmart partnered with the MSC to certify its seafood suppliers for sustainably caught wild fish, aiming for 100% certification within three to five years.

p.7
Corporate Responsibility and Trust

According to Charles Handy, why do businesses need a sustainable planet?
A) For short-term profits
B) For their own survival in the long run
C) To attract investors quickly
D) To reduce competition
E) To increase product variety

B) For their own survival in the long run
Explanation: Handy emphasizes that businesses require a sustainable planet for their long-term survival, as they are not short-term entities and rely on a stable environment to operate over decades.

p.5
Benefits and Criticisms of Corporate Responsibility

What challenge do companies face regarding corporate responsibility, as highlighted in the text?
A) They find it easy to measure performance
B) They do not recognize its importance
C) Quantifying its impact is massively challenging
D) They ignore stakeholder concerns
E) They focus solely on financial metrics

C) Quantifying its impact is massively challenging
Explanation: The text points out that while companies acknowledge the importance of corporate responsibility, rigorously measuring its impact remains a significant challenge.

p.11
Talent Attraction and Retention

How can a Corporate Responsibility (CR) program aid in employee recruitment?
A) By increasing salaries
B) By improving the company's image among employees
C) By reducing work hours
D) By offering free meals
E) By providing more vacation days

B) By improving the company's image among employees
Explanation: A CR program can enhance the company's image, particularly when employees engage in activities like fundraising and community volunteering, which can attract and retain talent.

p.6
Corporate Responsibility (CR) Definition

According to the Global Reporting Initiative (GRI), how many interdependent capital asset classes are there?
A) Three
B) Five
C) Seven
D) Ten
E) Four

B) Five
Explanation: The GRI describes five interdependent capital asset classes: financial, human, natural, social, and technological, which are essential for understanding corporate responsibility.

p.8
Corporate Responsibility and Trust

What did the 2020 Trust Barometer Report reveal about consumer behavior?
A) Consumers are indifferent to brand values
B) Trust is less important than competence
C) 64% of consumers view their wallet as their vote
D) Trust in brands has increased significantly
E) Consumers prefer brands with high financial performance only

C) 64% of consumers view their wallet as their vote
Explanation: The report indicated that a significant percentage of consumers would not purchase from brands whose values did not align with their own, highlighting the importance of trust and ethics in consumer choices.

p.4
Corporate Responsibility and Trust

What is a significant benefit of skills-based volunteering for companies?
A) It reduces operational costs
B) It builds trust within local communities
C) It focuses solely on cash donations
D) It decreases employee engagement
E) It limits corporate involvement in social issues

B) It builds trust within local communities
Explanation: Skills-based volunteering not only provides measurable social benefits but also fosters trust between corporations and the communities they operate in, enhancing employee connection to the company's mission.

p.10
Benefits and Criticisms of Corporate Responsibility

What is a key benefit of a well-executed Corporate Responsibility (CR) strategy?
A) Increased employee turnover
B) Higher operational costs
C) Attracting and retaining customers
D) Decreased market share
E) Reduced product quality

C) Attracting and retaining customers
Explanation: A well-executed CR strategy can lead to various benefits, including attracting and retaining customers, which is essential for business success.

p.8
Historical Shift in Corporate Expectations

What did Walmart's CEO, Lee Scott, realize about the company's approach to social issues?
A) They could ignore public opinion
B) They needed to focus solely on profits
C) They were caught off-guard by social and environmental issues
D) They had no responsibility towards society
E) They should not engage with critics

C) They were caught off-guard by social and environmental issues
Explanation: Lee Scott admitted that Walmart had been surprised by its entanglement in social and environmental issues, indicating a need for the company to adapt to changing public expectations.

p.4
Corporate Responsibility (CR) Definition

What does corporate responsibility (CR) primarily emphasize?
A) Maximizing economic profit
B) Compliance with existing regulations only
C) Respect for society's interests and impact on key constituencies
D) Reducing operational costs
E) Increasing shareholder dividends

C) Respect for society's interests and impact on key constituencies
Explanation: Corporate responsibility (CR) is defined as an organization's respect for society's interests, which includes considering the effects of its activities on customers, employees, shareholders, communities, and the environment.

p.2
Walmart's Sustainability Strategy

How did Walmart's sustainability strategy differ from its previous approach?
A) It was more focused on marketing
B) It was a proactive response to environmental pressures
C) It eliminated all environmental initiatives
D) It focused solely on profit maximization
E) It was implemented without consulting external stakeholders

B) It was a proactive response to environmental pressures
Explanation: The 2005 sustainability strategy marked a shift from Walmart's historically defensive approach to environmental issues, addressing them proactively in response to pressure from environmental groups.

p.8
Corporate Responsibility and Trust

What was the consequence for Walmart due to its perceived corporate responsibility (CR) deficit?
A) Increased sales
B) Loss of 8% of consumers
C) Gained public trust
D) Improved employee satisfaction
E) Expansion into new markets

B) Loss of 8% of consumers
Explanation: The text mentions that up to 8 percent of Walmart consumers surveyed had stopped shopping at the chain due to its reputation, which was affected by a perceived CR deficit.

p.8
Consumer Expectations and Corporate Purpose

According to the 2010 IBM survey, what percentage of CEOs believed customers expect more focus on social responsibility?
A) 50%
B) 76%
C) 30%
D) 90%
E) 40%

B) 76%
Explanation: The survey found that 76 percent of global CEOs believed that customers expect them to increase their focus on social responsibility initiatives.

p.6
Impact of Environmental Disasters on Corporate Behavior

What significant value did KPMG’s 2017 Survey on Corporate Responsibility find businesses derived from reporting on their CR initiatives?
A) Increased taxes
B) Improved communication within companies
C) Decreased employee morale
D) Higher operational costs
E) Reduced market share

B) Improved communication within companies
Explanation: The survey found that businesses gained significant value from reporting on their CR initiatives, including improved reputation, innovation, and enhanced internal communication.

p.5
Consumer Expectations and Corporate Purpose

According to the 2019 PwC CEO Survey, what percentage of corporate leaders turn to the UN’s Sustainable Development Goals in their reporting?
A) 50%
B) 72%
C) 90%
D) 1%
E) 25%

B) 72%
Explanation: The survey indicated that 72 percent of corporate leaders recognize the importance of the UN’s Sustainable Development Goals in their reporting, reflecting a growing awareness of corporate responsibility.

p.10
Impact of Environmental Disasters on Corporate Behavior

What did Warren Buffett say about reputation?
A) It can be rebuilt quickly
B) It takes 20 years to build and 5 minutes to ruin
C) It is irrelevant to business success
D) It is easily maintained
E) It is only important for large corporations

B) It takes 20 years to build and 5 minutes to ruin
Explanation: Warren Buffett famously noted the fragility of reputation, highlighting the importance of maintaining a good reputation as it takes a long time to build but can be destroyed in an instant.

p.1
Impact of Environmental Disasters on Corporate Behavior

What major events in the 1980s raised awareness about corporate environmental responsibility?
A) The rise of the internet
B) The Bhopal disaster and Exxon Valdez oil spill
C) The fall of the Berlin Wall
D) The Gulf War
E) The 1987 stock market crash

B) The Bhopal disaster and Exxon Valdez oil spill
Explanation: Large-scale environmental disasters like the Bhopal chemical leak and the Exxon Valdez oil spill sparked public outrage and increased scrutiny of corporate practices regarding environmental responsibility.

p.1
UN Global Compact and Corporate Guidelines

What frameworks are mentioned as providing guidelines for corporate responsibility?
A) ISO 9001 and Six Sigma
B) B Corporation and ISO 26000
C) ISO 14001 and ISO 45001
D) Fair Trade and LEED
E) CMMI and Agile

B) B Corporation and ISO 26000
Explanation: B Corporation and ISO 26000 are mentioned as frameworks that provide guidelines for companies to better manage their relationships with society and enhance their corporate responsibility practices.

p.4
UN Global Compact and Corporate Guidelines

As of 2020, how many companies participated in the UN Global Compact?
A) 5,000 companies
B) 11,593 companies
C) 20,000 companies
D) 1,000 companies
E) 15,000 companies

B) 11,593 companies
Explanation: By 2020, 11,593 companies in 156 countries had signaled their commitment to sustainability and corporate responsibility by participating in the UN Global Compact.

p.5
UN Global Compact and Corporate Guidelines

What is the first principle regarding human rights for businesses?
A) Businesses should ignore human rights
B) Businesses should support and respect the protection of internationally proclaimed human rights
C) Businesses should only focus on profit
D) Businesses should avoid international laws
E) Businesses should prioritize local laws over international rights

B) Businesses should support and respect the protection of internationally proclaimed human rights
Explanation: The first principle emphasizes the importance of businesses supporting and respecting internationally recognized human rights, highlighting their role in promoting ethical practices.

p.10
Corporate Responsibility and Trust

What can happen if employees perceive CSR initiatives as purely profit-driven?
A) Increased employee satisfaction
B) Enhanced company reputation
C) Decreased employee effort
D) Improved customer loyalty
E) Greater community engagement

C) Decreased employee effort
Explanation: Research indicates that if employees believe CSR initiatives are being used solely for profit, they may react negatively and put in less effort, undermining the intended benefits of such initiatives.

p.1
Consumer Expectations and Corporate Purpose

What was a significant outcome of the media exposés in the 1990s regarding corporate practices?
A) Increased profits for corporations
B) Consumer outrage and boycotts
C) Decreased regulations on businesses
D) Expansion of corporate offices
E) Greater focus on advertising

B) Consumer outrage and boycotts
Explanation: The exposés revealed poor labor conditions in supply chains, leading to consumer outrage and boycotts, which prompted corporations to adopt codes of conduct to protect workers' rights.

p.9
B Corporation Certification

What is one of the indices created to evaluate corporate responsibility initiatives?
A) Fortune 500
B) Dow Jones Industrial Average
C) FTSE4Good Index
D) S&P 500
E) NASDAQ Composite

C) FTSE4Good Index
Explanation: The FTSE4Good Index is mentioned as a benchmark designed to measure the performance of companies meeting globally recognized corporate responsibility standards.

p.11
Talent Attraction and Retention

What percentage of millennials are willing to take a pay cut to work for a socially responsible company?
A) 50%
B) 60%
C) 75%
D) 80%
E) 90%

C) 75%
Explanation: According to a 2016 Cone Communications study, 75 percent of millennials expressed a willingness to accept lower pay in exchange for working at a socially responsible company.

p.11
License to Operate

What significant savings did DuPont achieve since 1990?
A) $1 billion from marketing
B) $2 billion from energy use reductions
C) $3 billion from employee training
D) $4 billion from product sales
E) $5 billion from tax reductions

B) $2 billion from energy use reductions
Explanation: DuPont saved over $2 billion through energy use reductions, illustrating the long-term financial benefits of investing in socially responsible practices.

p.2
Walmart's Sustainability Strategy

Which of the following was NOT one of the three main goals of Walmart's sustainability strategy?
A) To be supplied by 100 percent renewable energy
B) To create zero waste
C) To sell resource-efficient and environmentally sustainable products
D) To reduce employee wages
E) To improve supply chain efficiency

D) To reduce employee wages
Explanation: The goals of Walmart's sustainability strategy focused on environmental impact and resource efficiency, not on reducing employee wages.

p.9
Corporate Responsibility and Trust

What has redefined the notion of transparency for corporations?
A) Increased government regulations
B) Widespread Internet access
C) Traditional media outlets
D) Corporate mergers
E) Decreased consumer interest

B) Widespread Internet access
Explanation: The text states that widespread Internet access, with over 4.6 billion people online as of 2020, has redefined transparency for corporations, allowing for greater scrutiny and accountability.

p.7
B Corporation Certification

What is one reason companies may want to become a B corporation?
A) To avoid taxes
B) To differentiate their brand
C) To reduce employee benefits
D) To limit community engagement
E) To increase product prices

B) To differentiate their brand
Explanation: Companies may seek B corporation status to differentiate their brand and align with consumer expectations for corporate responsibility.

p.5
UN Global Compact and Corporate Guidelines

Which principle addresses the elimination of child labor?
A) Principle 3
B) Principle 4
C) Principle 5
D) Principle 6
E) Principle 7

C) Principle 5
Explanation: Principle 5 specifically calls for the effective abolition of child labor, underscoring the commitment of businesses to uphold labor rights.

p.3
Consumer Expectations and Corporate Purpose

What percentage of consumers looked to brands to 'do what is right' according to the 2020 Edelman Trust Barometer Report?
A) 50%
B) 65%
C) 75%
D) 81%
E) 89%

D) 81%
Explanation: The 2020 Edelman Trust Barometer Report indicated that 81 percent of consumers expected brands to act responsibly, highlighting the growing importance of corporate responsibility in consumer purchasing decisions.

p.3
Corporate Responsibility Definition

What term is used to describe corporate responsibility initiatives that focus on environment, social, and governance?
A) CSR
B) ESG
C) ROI
D) KPI
E) TBL

B) ESG
Explanation: The acronym ESG stands for environment, social, and governance, and is commonly used to describe corporate responsibility initiatives.

p.4
Corporate Responsibility (CR) Definition

How does corporate responsibility extend beyond compliance?
A) By focusing solely on economic profit
B) Through voluntary and proactive efforts to improve quality of life
C) By making temporary monetary contributions
D) By reducing employee wages
E) By ignoring community needs

B) Through voluntary and proactive efforts to improve quality of life
Explanation: CR goes beyond mere compliance with regulations by encompassing voluntary efforts aimed at enhancing the quality of life for employees, their families, and the local community.

p.7
B Corporation Certification

What is the primary purpose of B Lab's certification for B corporations?
A) To increase profits
B) To ensure rigorous social and environmental performance
C) To reduce employee turnover
D) To expand market share
E) To eliminate competition

B) To ensure rigorous social and environmental performance
Explanation: B Lab's certification aims to establish rigorous and independent standards of social and environmental performance, accountability, and transparency for companies seeking B corporation status.

p.9
Benefits and Criticisms of Corporate Responsibility

What is a potential benefit of adopting a socially responsible strategy for corporations?
A) Decreased employee morale
B) Increased regulatory scrutiny
C) Enhanced reputation and potential profit
D) Higher operational costs
E) Limited market reach

C) Enhanced reputation and potential profit
Explanation: The text argues that adopting responsible business practices can enhance a corporation's reputation and does not necessarily undermine profit motives, contrary to traditional beliefs.

p.3
Consumer Expectations and Corporate Purpose

What was a notable consumer expectation during the COVID-19 pandemic regarding brands?
A) To lower prices
B) To increase advertising
C) To introduce higher purpose and contribute to society
D) To focus on product quality
E) To expand their product lines

C) To introduce higher purpose and contribute to society
Explanation: During the COVID-19 pandemic, 89 percent of global consumers looked to brands to introduce higher purpose and contribute to societal challenges, emphasizing the heightened expectations for corporate responsibility.

p.7
Corporate Responsibility and Trust

What does B Lab believe current corporate law makes difficult for businesses?
A) To maximize profits
B) To consider employee, community, and environmental interests
C) To expand internationally
D) To reduce operational costs
E) To increase shareholder value

B) To consider employee, community, and environmental interests
Explanation: B Lab argues that current corporate law hinders businesses from adequately considering broader social and environmental interests in their decision-making processes.

p.8
Consumer Expectations and Corporate Purpose

What new reality do businesses face today according to the text?
A) Focus solely on financial performance
B) Long-term societal concerns are equally important as financial practices
C) Ignore public expectations
D) Operate without considering environmental issues
E) Prioritize marketing over social responsibility

B) Long-term societal concerns are equally important as financial practices
Explanation: The text emphasizes that businesses now operate in an environment where societal concerns, such as diversity and environmental policies, are held to the same level of public expectation as financial performance.

p.10
Brand Differentiation

What is a unique selling proposition in the context of corporate responsibility?
A) A strategy to lower prices
B) A way to increase employee benefits
C) A method to differentiate a brand based on ethical values
D) A tactic to reduce production costs
E) A plan to expand into new markets

C) A method to differentiate a brand based on ethical values
Explanation: In crowded marketplaces, corporate responsibility can serve as a unique selling proposition that helps build customer loyalty based on distinctive ethical values.

p.11
CR Critics

What do constituencies increasingly demand from corporations?
A) Higher profits
B) More corporate responsibility
C) Less regulation
D) Lower wages
E) Fewer products

B) More corporate responsibility
Explanation: There is a growing demand from various constituencies for corporations to embrace and implement more corporate responsibility initiatives.

p.4
UN Global Compact and Corporate Guidelines

What initiative did the UN Global Compact establish for companies?
A) A list of financial regulations
B) A set of Ten Principles for corporate responsibility
C) A guideline for maximizing profits
D) A framework for reducing employee wages
E) A program for temporary charitable donations

B) A set of Ten Principles for corporate responsibility
Explanation: The UN Global Compact created a list of Ten Principles to guide companies in their corporate responsibility efforts, focusing on human rights and sustainability.

p.9
Media Influence on Corporate Reputation

What type of incidents have prompted immediate backlash on social media?
A) Corporate mergers
B) Product recalls
C) Instances of corporate 'irresponsibility'
D) Financial scandals
E) Employee layoffs

C) Instances of corporate 'irresponsibility'
Explanation: The text provides examples of incidents that led to immediate backlash on social media, emphasizing the impact of corporate actions on public perception.

p.7
Impact of Environmental Disasters on Corporate Behavior

What pressing issues pose threats to 'business-as-usual' operations?
A) Increased competition
B) Climate change and income inequality
C) Technological advancements
D) Globalization
E) Market saturation

B) Climate change and income inequality
Explanation: Environmental and social issues like climate change and income inequality are significant threats to traditional business operations, highlighting the need for corporate responsibility.

p.2
Walmart's Sustainability Strategy

What was the primary goal of Walmart's sustainability strategy announced in 2005?
A) To increase profits by 50%
B) To become the most competitive and innovative company in the world
C) To reduce employee turnover
D) To expand to 10,000 stores worldwide
E) To eliminate all competition

B) To become the most competitive and innovative company in the world
Explanation: Walmart's sustainability strategy aimed to enhance its competitiveness and innovation while addressing its environmental impact, marking a significant shift in its operational approach.

p.4
Benefits and Criticisms of Corporate Responsibility

Which of the following is NOT considered corporate responsibility?
A) Starbucks paying higher wages to employees
B) ExxonMobil donating $250 million to charity
C) Fair trade practices in sourcing
D) Long-term strategies to reduce environmental impact
E) Community engagement through skills-based volunteering

B) ExxonMobil donating $250 million to charity
Explanation: While ExxonMobil's donation qualifies as philanthropy, it does not address the lasting impact of the company's operations, which is a key aspect of corporate responsibility.

p.9
Media Influence on Corporate Reputation

Which platforms serve as powerful forums for like-minded individuals to educate and organize?
A) LinkedIn and Instagram
B) Twitter and Facebook
C) Reddit and Pinterest
D) YouTube and TikTok
E) Snapchat and Tumblr

B) Twitter and Facebook
Explanation: The text highlights that social media platforms like Twitter and Facebook have become significant venues for individuals to educate and organize around corporate issues.

p.3
Corporate Responsibility Definition

Which term refers to the concept of profit, people, and planet in corporate responsibility discussions?
A) Corporate citizenship
B) Triple bottom line
C) Conscious capitalism
D) Corporate social responsibility
E) Sustainable development

B) Triple bottom line
Explanation: The term 'triple bottom line,' popularized by John Elkington, refers to the three pillars of corporate responsibility: profit, people, and planet.

p.6
B Corporation Certification

What does the 'B' in B corporation certification stand for?
A) Business
B) Benefit
C) Balance
D) Brand
E) Bureau

B) Benefit
Explanation: The 'B' in B corporation certification stands for 'Benefit', indicating that these companies meet high standards of social and environmental performance, accountability, and transparency.

p.8
Corporate Responsibility and Trust

What trend regarding trust in leaders was noted in the text?
A) Trust in leaders has increased significantly
B) Trust in leaders is higher than in the past
C) Trust in major institutions and leaders is generally lower today
D) Trust in CEOs is at an all-time low
E) Trust in government leaders is higher than in CEOs

C) Trust in major institutions and leaders is generally lower today
Explanation: The text states that trust in major institutions and leaders is lower today than it was several decades ago, indicating a significant challenge for corporate and political leaders.

p.5
UN Global Compact and Corporate Guidelines

What does Principle 10 focus on?
A) Promoting child labor
B) Supporting forced labor
C) Working against corruption in all its forms
D) Encouraging discrimination in employment
E) Ignoring environmental challenges

C) Working against corruption in all its forms
Explanation: Principle 10 emphasizes the need for businesses to actively combat corruption, including practices like extortion and bribery, which is crucial for ethical corporate governance.

Study Smarter, Not Harder
Study Smarter, Not Harder