Exam 1: The Relationship Between Business and Society

Integrity refers to the appropriateness of a corporation's behaviour,not to its adherence to moral principles.

Which of the following ethicists wrote that leadership can create opportunities for all to realize their potential?

Kathleen's responsibility is to manage the business and affairs of KLN Corporation, which manufactures ceramic products for industry.Kathleen is a(n)________of KLN Corporation.

The 'greatest good for the greatest number' is a feature of consequentialist theories.

The belief in the rightness of an institution,in this case the appropriateness of our business system to supply the goods and services wanted by Canadian society,is called:

A corporation demonstrating that it takes into account its role in and complete impact on society and the environment as well as its economic influence is called:

Corporate activities demonstrating the inclusion of social and environmental as well as economic responsibilities in business operations as they impact all stakeholders to ensure the long-term survival of the corporation is called:

Legitimacy requires belief,trust,and confidence in the business system.

There exists a reciprocal relationship between business and society.

Strategic planning is a function of the board of directors.

The discussion of the business enterprise system in the Business and Society class today became heated when a debate broke out as to which capitalist system Canada should employ.Jamal argued that the Canadian government should apply a __________model Whereby economic decision making is left to those individuals or enterprises who own the means of production.A profit motivation,with limited government involvement, would create a competitive market system.Crystal agreed,but added that accountability to society by business was also important and therefore a ____________was better.

The freedom of association doctrine implies that incorporation should occur without government intervention.

In order for a business to be legitimate,the business enterprise system must report positive profits and pay dividends to shareholders on a consistent basis.

Canadians' overall attitude towards business has been basically positive over the last ten years.

The way a corporation achieves a balance among its economic,social,and environmental responsibilities in its operations so as to address stakeholder expectations is referred to as:

The discussion of the business enterprise system in the Business and Society class today was stimulating.John argued that the Canadian government should apply a__________model whereby economic decision making is left to those individuals or enterprises who own the means of production.

Julio and Julie are planning to start a business providing holistic,herbal products to consumers.This is an exciting business opportunity which has considerable growth potential.Concerned,however,about assuming a personal level of responsibility for the financial outcome of the enterprise,they decide to structure the business through:

A minority of Canadians are owners of businesses,either directly or indirectly.

Self-interest acts as a motivator in the business enterprise system and provides the drive for profit that encourages individuals to get things done.

Most people agree on a universal way to approach ethics and therefore,there is widespread agreement as to the appropriate behaviour by business in society.