New Models of Business in Society
Offered By ”University of Virginia”
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Instructor: R. Edward Freeman
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[Note- All the Red Marked Options Are Correct Answer]
Week 1
Business in Society: The Problem
Question 1
Radical advances in information technology are driving much of the change in the business world.
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True
False
Question 2
Which one of the following is NOT one of the Four Flaws of the Standard Story of business?
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People are just motivated by money.
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Business ethics is an oxymoron (a figure of speech that combines contradictory terms), e.g. jumbo shrimp.
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Capitalism is an outdated economic system.
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Business is just about economics and making money.
Question 3
The Global Financial Crisis had no effect on the public’s trust in banks and big business.
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True
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False
Question 4
Which of the following are included in the Six Key Assumptions about the Dominant Story of Business? (check all that apply)
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The only constituency that matters is shareholders.
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Capitalism works because humans are completely self-interested and will only act for others if given proper incentives.
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All business people wear business suits.
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We live in a world of limitless physical resources, so we don’t need to pay attention to our impact on the environment.
Question 5
The following are included in the Five Principles that support the New Story of Business: (check all that apply)
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Business is primarily about purpose – money and profits follow
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Building and leading a business involves getting the interests of all the stakeholders going in the same direction.
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All business transactions need to be done on Fridays.
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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
Question 1
What are the Four Shades of Green? (Check all that apply)
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Stakeholder Green
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Money Green
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Lime Green
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Customer Green
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Legal Green
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Dark Green
Question 2
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.
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True
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False
Question 3
In 2011, companies donated the most money to the following issue: (choose one)
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Education
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Health & Social Services
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Environment
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Disaster Relief
Question 4
Today’s model of corporate philanthropy can be traced back to Andrew Carnegie’s Two Principles of Wealth and the tradition of noblesse oblige.
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True
-
False
Question 5
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.
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True
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False
Week- 3
Creating Value for Stakeholders
Question 1
Which of the following executives are practicing Conscious Capitalism and helping to rewrite the old narrative of business? (Check all that apply)
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Tom Gardner, The Motley Fool
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Kip Tindell, The Container Store
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John Mackey, Whole Food Market
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Bernie Ebbers, WorldCom
Question 2
What are the four key principles of the “Conscious Capitalism” movement? (Check all that apply)
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Purpose is greater than profits
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Multi-stakeholder view without tradeoffs
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Conscious leadership
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Conscious and supportive culture
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Disregard environmental sustainability efforts
Question 3
The definition of a stakeholder is, “any group or individual who can affect or be affected by the achievement of your purpose.”
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True
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False
Question 4
According the Friction Principle, which of the following can be a source of value creation?
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Conflict and criticism
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Higher production
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Increase in marketing
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Lower production costs
Question 5
“Thriving employees” are satisfied, engaged, productive and have better overall performance in the workplace.
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True
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False
Week- 4
Becoming a Stakeholder Entrepreneur
Question 1
There are new models of business in society emerging that are both making money and making the world a better place.
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True
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False
Question 2
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.
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True
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False
Question 3
Select the roles that individuals can have in helping business make society a better place: (Select all that apply)
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As an entrepreneur
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As a customer
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As a citizen and community member
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As a student of an online course about how business can create value for society
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As an employee
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As an investor
Question 4
The stakeholder theory suggests that the purpose of business is to create value for all stakeholders, including customers, suppliers, employees, communities and shareholders.
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True
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False
Question 5
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.
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True
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False