Coursera New Models of Business Society Quiz
New Models of Business in Society
Offered By ”University of Virginia”
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Instructor: R. Edward Freeman
[Note- All the Red Marked Options Are Correct Answer]
Business in Society: The Problem
Radical advances in information technology are driving much of the change in the business world.
Which one of the following is NOT one of the Four Flaws of the Standard Story of business?
People are just motivated by money.
Business ethics is an oxymoron (a figure of speech that combines contradictory terms), e.g. jumbo shrimp.
Capitalism is an outdated economic system.
Business is just about economics and making money.
The Global Financial Crisis had no effect on the public’s trust in banks and big business.
Which of the following are included in the Six Key Assumptions about the Dominant Story of Business? (check all that apply)
The only constituency that matters is shareholders.
Capitalism works because humans are completely self-interested and will only act for others if given proper incentives.
All business people wear business suits.
We live in a world of limitless physical resources, so we don’t need to pay attention to our impact on the environment.
The following are included in the Five Principles that support the New Story of Business: (check all that apply)
Business is primarily about purpose – money and profits follow
Building and leading a business involves getting the interests of all the stakeholders going in the same direction.
All business transactions need to be done on Fridays.
Most people have moral values and act responsibly most of the time – that behavior needs to be expected.
Week – 2
Business in Society: Corporate Responsibility, Philanthropy and Building Sustainable Value: The Role of Capitalism in Society
What are the Four Shades of Green? (Check all that apply)
One issue with corporate philanthropy and corporate social responsibility is that these programs are only “add-on’s” to the business models of companies, when they should be incorporated into the business models.
In 2011, companies donated the most money to the following issue: (choose one)
Health & Social Services
Today’s model of corporate philanthropy can be traced back to Andrew Carnegie’s Two Principles of Wealth and the tradition of noblesse oblige.
There are still many challenges with the environmentalism movement, so it is important to take personal responsibility and not completely rely on others to make changes happen.
Creating Value for Stakeholders
Which of the following executives are practicing Conscious Capitalism and helping to rewrite the old narrative of business? (Check all that apply)
Tom Gardner, The Motley Fool
Kip Tindell, The Container Store
John Mackey, Whole Food Market
Bernie Ebbers, WorldCom
What are the four key principles of the “Conscious Capitalism” movement? (Check all that apply)
Purpose is greater than profits
Multi-stakeholder view without tradeoffs
Conscious and supportive culture
Disregard environmental sustainability efforts
The definition of a stakeholder is, “any group or individual who can affect or be affected by the achievement of your purpose.”
According the Friction Principle, which of the following can be a source of value creation?
Conflict and criticism
Increase in marketing
Lower production costs
“Thriving employees” are satisfied, engaged, productive and have better overall performance in the workplace.
Becoming a Stakeholder Entrepreneur
There are new models of business in society emerging that are both making money and making the world a better place.
In the new stories of business that were discussed, the responsibility of building sustainable value belongs only to environmentalists so businesses should have no concern for the environment.
Select the roles that individuals can have in helping business make society a better place: (Select all that apply)
The stakeholder theory suggests that the purpose of business is to create value for all stakeholders, including customers, suppliers, employees, communities and shareholders.
The models of corporate philanthropy and corporate social responsibility that are in existence today are the ONLY options that companies have to add value to society.