Business and Society Stakeholders Ethics Public Policy 15th Edition Lawrence – Test Bank
ISBN:978-1259315411, ISBN-10: 125931541X
Chapter 01: The Corporation and Its Stakeholders
True / False Questions
| 1. | Walmart has been called a “template for 21st century capitalism.”
True False |
| 2. | A business is any organization that is engaged in making a product or providing a service for a profit.
True False |
| 3. | Businesses and society are independent of one another.
True False |
| 4. | The stakeholder theory of the firm argues that a firm’s sole purpose is to create value for its shareholders.
True False |
| 5. | The instrumental argument for the stakeholder theory of the firm says that companies perform better if they consider the rights and concerns of multiple groups in society.
True False |
| 6. | The normative argument for the stakeholder theory of the firm says that the stakeholder view is simply a more realistic description of how companies really work.
True False |
| 7. | Nonmarket stakeholders are those that engage in economic transactions with the company as it carries out its primary purpose of providing society with goods and services.
True False |
| 8. | Market stakeholders include nongovernmental organizations and the business support groups.
True False |
| 9. | Government can be considered both a market and nonmarket stakeholder.
True False |
| 10. | The interests of different stakeholders often coincide.
True False |
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