A) doing well while doing good is an essential corporate mantra B) socially responsible behavior adds to the corporation's bottom line C) corporations are responsible for the environment, society, and profits D) the only social responsibility of business is to increase profits Answer: D Explanation: D) In his book Capitalism and Freedom, Friedman argued that the only social responsibility of business was to increase its profits. 70) Before the 2010 oil spill in the Gulf of Mexico, British Petroleum (BP) had ________. A) provided sustainability training to its oil rig workers B) been fined more than $100 million for safety violations C) never claimed to be anything more than an oil company D) invested billions in stronger safety protocols on its drilling rigs Answer: B Explanation: B) Long before the enormous oil spill in 2010, BP promoted itself as a producer of alternative energies, claiming that BP stood for "Beyond Petroleum." Many believe that BP would have been much better off if it had spent more time and effort in training its employees on its oil drilling platforms, establishing stronger safety protocols, and waiting until its oil rigs were safe to operate. Even during this public relations campaign, BP had been "fined more than $100 million for safety violations." 71) According to a recent survey by Brighter Planet, although more firms are engaging in green activities, the effectiveness of these efforts has declined. Some believe that the problem with corporate social responsibility is that ________. A) no universal set of corporate social responsibility guidelines is available B) each firm has to follow a universal set of corporate social responsibility guidelines C) corporations really don't want to pursue social responsibility D) corporate social responsibility is a load of value-destroying nonsense Answer: B Explanation: B) Brighter Planet, a sustainability technology company, discovered in a recent survey that although more firms are engaging in green activities, the effectiveness of these efforts has declined. Some believe that the problem with CSR is that it consists of a universal set of guidelines such as the "triple bottom line." To be "socially responsible," each firm has to follow the same guidelines instead of what would be the most appropriate strategy for each firm. 72) The concept of ________ has evolved from the traditional view of corporate social
A) doing well while doing good is an essential corporate mantra B) socially responsible behavior adds to the corporation's bottom line C) corporations are responsible for the environment, society, and profits D) the only social responsibility of business is to increase profits Answer: D Explanation: D) In his book Capitalism and Freedom, Friedman argued that the only social responsibility of business was to increase its profits. 70) Before the 2010 oil spill in the Gulf of Mexico, British Petroleum (BP) had ________. A) provided sustainability training to its oil rig workers B) been fined more than $100 million for safety violations C) never claimed to be anything more than an oil company D) invested billions in stronger safety protocols on its drilling rigs Answer: B Explanation: B) Long before the enormous oil spill in 2010, BP promoted itself as a producer of alternative energies, claiming that BP stood for "Beyond Petroleum." Many believe that BP would have been much better off if it had spent more time and effort in training its employees on its oil drilling platforms, establishing stronger safety protocols, and waiting until its oil rigs were safe to operate. Even during this public relations campaign, BP had been "fined more than $100 million for safety violations." 71) According to a recent survey by Brighter Planet, although more firms are engaging in green activities, the effectiveness of these efforts has declined. Some believe that the problem with corporate social responsibility is that ________. A) no universal set of corporate social responsibility guidelines is available B) each firm has to follow a universal set of corporate social responsibility guidelines C) corporations really don't want to pursue social responsibility D) corporate social responsibility is a load of value-destroying nonsense Answer: B Explanation: B) Brighter Planet, a sustainability technology company, discovered in a recent survey that although more firms are engaging in green activities, the effectiveness of these efforts has declined. Some believe that the problem with CSR is that it consists of a universal set of guidelines such as the "triple bottom line." To be "socially responsible," each firm has to follow the same guidelines instead of what would be the most appropriate strategy for each firm. 72) The concept of ________ has evolved from the traditional view of corporate social
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