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Question
Why is profit optimization a more useful focus for firms than profit maximization?
Answer
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Related questions
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One of the reasons that Amazon is successful is that it has achieved a core competency in managing its ______.
A. workforce
B. board of directors
C. products
D. supply chain
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In Europe, pressure for corporate social responsibility is more likely to come from ______.
A. courts
B. governments
C. nonprofits (NGOs)
D. competitors
Q:
Firms that sell based on price are likely ______.
A. to pay greater attention to corporate social responsibility
B. to have the resources to mount an effective corporate social responsibility campaign
C. to attract less attention from consumers on issues unrelated to price
D. to be big and thus attract greater attention from interest groups
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One of the criticisms of Porters Five Forces model is that it assumes competition to be a ______ game among the firm and its various stakeholders.
A. zero-sum
B. cooperative
C. strategic
D. nationalistic
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The resources perspective on business strategy ______.
A. deemphasizes the external context in which the firm operates
B. has been disproven through research
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D. focuses on the firms competitive operating environment
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What are the firms most valuable resources or most innovative capabilities?
A. its people
B. its finances
C. its competencies
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Digital innovation has disrupted a number of industries. Which of the following firms have remained profitable?
A. The New York Times
B. Verizon
C. Barnes & Noble
D. Universal Music
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The ______ are the day-to-day management decisions made to implement the firms ______.
A. strategies; tactics
B. tactics; strategies
C. tactics; vision
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IKEAs ______ statement is To create a better everyday life for the many people.
A. mission
B. vision
C. strategy
D. tactics
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The firms ______ identifies what the organization is going to do in order to attain its ______.
A. profitability; revenue target
B. mission; profits
C. mission; vision
D. vision; mission
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Enron is a good example of how good things had become in terms of corporate responsibility at the end of the 20th century.
Q:
Instead of valuing natural capital, current financial and accounting models treat essential natural components such as water and air quality as ______ when accounting for profits and losses. A. free B. long-term depreciation C. short-term depreciation D. contingent valuation
Q:
Although we have some intuitive sense of which firms are good and which are bad, we are presently unable to compare one firm to another reliably across all aspects of operations, because ______.
A. there is universal acceptance among firms to the idea of greater transparency
B. there is inherent difficulty of defining societal expectations
C. there are legal prohibitions to rating companies as good or bad in terms of CSR
D. there is inherent difficulty in finding firms willing to rate companies as good or bad
Q:
Whole Foods Supermarkets use of a color-coded stoplight scale to assess and support sustainable seafood products is an example of which of the three interlinked steps in measuring CSR?
A. standardizing
B. reconciling
C. certifying
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In your opinion, what was the primary cause of the BP oil companys series of serious accidents? In your response, you should explain whether or not stakeholders have it in their collective power to shape the firms that they populate their economies.
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Assuming a company found a profitable niche in serving the poorest 4 billion people in the world, how might such a breakthrough help the firm sell to the developed world at the top of the economic pyramid?
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Which of the following describes strategic CSR? A. a theoretical exercise B. a passive doctrine C. a highly empowering approach D. all of these
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Which of the following is not a component of Unilevers Sustainable Living Plan?
A. halve the environmental impact of its products
B. source 100% of agricultural raw materials sustainably
C. hire women in 50% of executive positions within the company
D. help more than 1 billion people improve their health and well-being
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A. production; consumption
B. regulation; control
C. monetizing; donation
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The textbook author argues that there is no distinction between ______ and social problems.
A. economic problems
B. personal problems
C. stakeholder problems
D. shareholder problems
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The ______ is the notion that shareholders cannot second-guess management decisions.
A. management responsibility doctrine
B. business judgment rule
C. board of directors supremacy
D. limited liability corporation
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How has the definition of what it means to be a shareholder changed over the history of the corporation?
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A share is a legal contract between the investor and the firm.
Q:
In Delaware, the part of the firm that is given preeminence is ______.
A. the investor
B. the board of directors
C. the employees
D. the chief executive officer
Q:
The 1880 New Hampshire Supreme Court decision in Charlestown Boot & Shoe Co. vs. Dunsmore sets a legal precedent for ______.
A. stakeholder theory
B. the business judgment rule
C. shareholder autonomy
D. limited liability
Q:
An analysis of the history of the corporation, a review of existing legislation, and legal precedent all support to the conclusion that ______.
A. shareholders do not own the firm
B. shareholders are the owners of the firm
C. shareholders have the same power as managers of the firm
D. shareholders must respect the rights of all stakeholders
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What is corporate personhood, and how does it relate to corporate social responsibility?
Q:
Value creation is the same for every business and every stakeholder.
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The textbook author argues that ______ offers the most efficient tools to deliver social progress. A. government B. for-profit firms C. not-for-profit firms D. families
Q:
Benefit corporations and certified B Corps are ______.
A. legal entities in all states of the United States
B. primarily located in European countries
C. different names for the same types of companies
D. different entities, one a legal entity and the other a certification process