Corporate Social Responsibility & Sustainability Quiz
Take this 'Corporate Social Responsibility & Sustainability Quiz' to understand more about social responsibility and sustainability. Corporate Social Responsibility (CSR) is the way how a corporation manages a balance among its economic, social, and environmental responsibilities so it can produce a positive impact on society. In this quiz, you'll learn everything about corporate social responsibility & the sustainability quiz is about the same. You will face up to twenty questions, read carefully and answer relatably.
Questions and Answers
- 1.
A ________ _________ sets out the purpose and general direction for the organization?
- A.
Vision
- B.
Purpose statement
- C.
Mission statement
- D.
Profit statement
Correct Answer
C. Mission statementExplanation
A mission statement is a concise statement that outlines the purpose and direction of an organization. It communicates the organization's goals and objectives, as well as its core values and principles. It helps guide decision-making and provides a framework for strategic planning and resource allocation. A mission statement is essential for clarifying the organization's identity and ensuring that all stakeholders are aligned with its overall vision and objectives.Rate this question:
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- 2.
Which of the following would most effectively act as the primary objective of a business organization?
- A.
To communicate with shareholders.
- B.
To make a profit.
- C.
To mediate between the organization and the environment.
- D.
All of the above.
Correct Answer
B. To make a profit.Explanation
The primary objective of a business organization is to make a profit. While it is important for a business to communicate with shareholders and mediate between the organization and the environment, these objectives are secondary to the main goal of generating profit. Profitability is crucial for the sustainability and growth of a business, as it allows for reinvestment, expansion, and meeting the needs of shareholders and stakeholders. Therefore, making a profit is the most effective primary objective for a business organization.Rate this question:
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- 3.
What is the purpose of a balanced scorecard?
- A.
To relate business performance to financial measures.
- B.
To measure the contribution of people to business growth
- C.
To relate business performance to customer satisfaction.
- D.
To combine a range of qualitative and quantitative indicators of performance.
Correct Answer
D. To combine a range of qualitative and quantitative indicators of performance.Explanation
The purpose of a balanced scorecard is to combine a range of qualitative and quantitative indicators of performance. This means that it aims to provide a comprehensive view of a company's performance by considering both financial and non-financial factors. By incorporating various measures such as customer satisfaction, employee engagement, and operational efficiency, the balanced scorecard enables a more holistic assessment of an organization's success. This approach allows businesses to have a more balanced and well-rounded understanding of their performance, helping them make informed decisions and drive continuous improvement.Rate this question:
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- 4.
Which of the following does the term Corporate Social Responsibility relate to?
- A.
Environmental practice.
- B.
Ethical conduct.
- C.
Human rights and employee relations.
- D.
All of the above.
Correct Answer
D. All of the above.Explanation
The term Corporate Social Responsibility relates to all of the options mentioned: environmental practice, ethical conduct, and human rights and employee relations. Corporate Social Responsibility refers to a company's commitment to operate in an ethical and sustainable manner, taking into consideration its impact on the environment, society, and its employees. It involves practices that promote environmental sustainability, adherence to ethical standards, and the protection of human rights and fair treatment of employees. Therefore, the correct answer is "All of the above."Rate this question:
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- 5.
Who are organizational stakeholders?
- A.
Employees
- B.
Government
- C.
Customers
- D.
All of the above.
Correct Answer
D. All of the above.Explanation
Organizational stakeholders refer to individuals or groups who have an interest or are affected by the activities and outcomes of an organization. This includes employees, who contribute to the functioning and success of the organization; government, which regulates and influences the organization's operations; and customers, who are directly impacted by the organization's products or services. Therefore, all of the options mentioned - employees, government, and customers - are considered organizational stakeholders.Rate this question:
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- 6.
What has ethics to do with?
- A.
The wider community.
- B.
Right and wrong.
- C.
Business!
- D.
None of the above.
Correct Answer
B. Right and wrong.Explanation
Ethics is concerned with determining what is right and wrong in a given situation. It involves evaluating moral principles and values to guide behavior and decision-making. In this context, ethics has to do with right and wrong, as it helps individuals and organizations make ethical choices and consider the impact of their actions on others. The wider community and business are related to ethics, but they are not the direct answer to the question.Rate this question:
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- 7.
Which of the following statements about CSR is untrue?
- A.
It has a substantial impact on corporate reporting practices, investment strategies, SCM & public relations.
- B.
It is about striking a balance between economic performance, meeting stakeholders' expectations & responsibility towards society.
- C.
It is about recognizing that no organization is an island & must operate in partnership with the outside world.
- D.
Its primary concern is about maintaining a competitive edge in the global market
Correct Answer
D. Its primary concern is about maintaining a competitive edge in the global marketExplanation
CSR, or Corporate Social Responsibility, is a concept that involves companies taking responsibility for their impact on society and the environment. It includes various aspects such as corporate reporting practices, investment strategies, supply chain management, and public relations. However, the statement that "Its primary concern is about maintaining a competitive edge in the global market" is untrue. While maintaining a competitive edge may be a secondary benefit of CSR, its primary concern is about meeting stakeholders' expectations, striking a balance between economic performance and social responsibility, and recognizing the importance of operating in partnership with the outside world.Rate this question:
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- 8.
Which of the following words refers to 'doing business with your grandchildren's interests at heart'?
- A.
Responsibility
- B.
Sustainability
- C.
Agility
- D.
Integrity
Correct Answer
B. SustainabilityExplanation
Sustainability refers to the concept of conducting business in a way that considers the long-term interests of future generations, including one's grandchildren. It involves making decisions and taking actions that balance economic growth, environmental protection, and social responsibility. By prioritizing sustainability, businesses can ensure that their operations and practices are not only profitable but also contribute to the well-being and prosperity of future generations.Rate this question:
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- 9.
'Ethics deals with the right actions of Individuals'- Who said this?
- A.
C S Rao
- B.
P F Drucker
- C.
J R Betty
- D.
DC Zane
Correct Answer
B. P F DruckerExplanation
P F Drucker said that "Ethics deals with the right actions of individuals." Drucker was a renowned management consultant, educator, and author, known for his work on management theory and practice. He emphasized the importance of ethical behavior in organizations and believed that individuals should always strive to do what is morally right. Drucker's statement highlights the significance of ethics in guiding individuals' actions and decision-making processes.Rate this question:
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- 10.
Which is the element of business ethics??
- A.
.A discipline.
- B.
It is an art & science both.
- C.
Good intention.
- D.
All of the above.
Correct Answer
D. All of the above.Explanation
The correct answer is "All of the above" because business ethics encompasses multiple aspects. It is a discipline that involves the study and application of ethical principles in business practices. It is also considered an art and science as it requires creativity and systematic thinking to make ethical decisions. Additionally, having good intentions is a fundamental element of business ethics as it involves conducting business in a morally upright and responsible manner. Therefore, all the options provided are valid elements of business ethics.Rate this question:
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- 11.
'Social responsibility is to pursue those policies & decisions or to follow lines of actions which are desirable in terms of the objective & value of our society' who said??
- A.
H R Bowen
- B.
P F Deucker
- C.
G A Steiner
- D.
All of the above
Correct Answer
A. H R BowenExplanation
H R Bowen is the correct answer because he is the one who defined social responsibility as the pursuit of policies, decisions, and actions that align with the objectives and values of society. This definition emphasizes the importance of considering the societal impact of business actions and making choices that benefit the broader community. P F Deucker and G A Steiner are not associated with this specific definition of social responsibility.Rate this question:
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- 12.
Which is the principle of corporate responsibility?
- A.
Trusteeship principle
- B.
Principle of stewardship
- C.
Principle of charity
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
The principle of corporate responsibility encompasses the trusteeship principle, the principle of stewardship, and the principle of charity. The trusteeship principle refers to the responsibility of corporate leaders to act as trustees for the resources and interests of various stakeholders. The principle of stewardship emphasizes the responsible and sustainable management of resources and assets. The principle of charity highlights the importance of corporate social responsibility and giving back to the community. Therefore, all of these principles are considered part of corporate responsibility.Rate this question:
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- 13.
Which is the element of social responsibility?
- A.
Universal concept.
- B.
Supremacy of public interest.
- C.
It is related to business organization.
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
Social responsibility is a concept that encompasses various aspects. It is a universal concept, meaning that it applies across different societies and cultures. It also involves the supremacy of public interest, which means that businesses should prioritize the well-being of the general public over their own interests. Additionally, social responsibility is closely related to business organizations, as they have a responsibility to operate ethically and contribute positively to society. Therefore, all of the given options - universal concept, supremacy of public interest, and relation to business organization - are elements of social responsibility.Rate this question:
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- 14.
Which one of the following is not the principle of business ethics?
- A.
Principle of universality.
- B.
Principle of humanity.
- C.
Principle of autonomy.
- D.
Principle of dissatisfaction.
Correct Answer
D. Principle of dissatisfaction.Explanation
The principle of dissatisfaction is not a principle of business ethics because it does not align with the commonly accepted principles that guide ethical behavior in business. The other three principles listed - universality, humanity, and autonomy - are recognized as important principles in business ethics. The principle of universality emphasizes the need for ethical principles to be applicable to all individuals and situations. The principle of humanity emphasizes treating others with respect, dignity, and fairness. The principle of autonomy emphasizes the importance of individuals having the freedom to make their own decisions. On the other hand, the principle of dissatisfaction does not fit within the framework of commonly accepted business ethics principles.Rate this question:
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- 15.
Business ethics is a dynamic philosophy of ---- economic adjustment whose field is widening day-by-day
- A.
Socio
- B.
Political
- C.
Historical
- D.
Traditional
Correct Answer
A. SocioExplanation
Business ethics is a dynamic philosophy that is constantly evolving and adapting to changes in society. It takes into consideration the social, political, historical, and traditional factors that shape the business environment. As society progresses and becomes more aware of ethical issues, the field of business ethics widens to encompass a broader range of considerations. Therefore, the correct answer is "Socio" as it reflects the social aspect of business ethics and its expansion over time.Rate this question:
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- 16.
The social responsibility of business towards the owners of business includes
- A.
Maximum ROI.
- B.
Report about progress.
- C.
Report of Profit.
- D.
All of the above.
Correct Answer
D. All of the above.Explanation
The social responsibility of business towards the owners includes all of the options mentioned. Providing maximum return on investment is a way for businesses to fulfill their responsibility towards owners. Additionally, reporting progress and profit is necessary to keep owners informed about the performance and financial health of the business. Therefore, all of these actions contribute to fulfilling the social responsibility towards owners.Rate this question:
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- 17.
CSR that extends beyond legal mandates can help meet social expectations in the absence of:
- A.
Statutory devices.
- B.
Social tool
- C.
Cost tool & technique
- D.
Science tool
Correct Answer
A. Statutory devices.Explanation
CSR, or Corporate Social Responsibility, refers to a company's voluntary actions to address social and environmental issues. When CSR goes beyond legal mandates, it means that a company is taking extra steps to fulfill social expectations and responsibilities. In the absence of statutory devices, which are legal regulations or requirements, CSR becomes even more important as it helps fill the gap and ensures that companies are meeting societal expectations. Therefore, the correct answer is "Statutory devices."Rate this question:
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- 18.
The relationship between standards of CSR & potential legal requirements governing corporate operation lies at the heart of the
- A.
The business community.
- B.
Unattainable
- C.
Formulation
- D.
The social activity.
Correct Answer
A. The business community.Explanation
The relationship between standards of CSR and potential legal requirements governing corporate operation lies at the heart of the business community. This means that the business community plays a central role in determining and implementing CSR standards, as well as adhering to any legal requirements related to corporate operations.Rate this question:
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- 19.
The argument for CSR involves
- A.
Recognition of moral obligations by business.
- B.
We need to balance power with responsibility.
- C.
Voluntary actions would prevent government regulations.
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
The argument for CSR involves recognizing the moral obligations of businesses, balancing power with responsibility, and voluntary actions to prevent government regulations. This means that businesses should acknowledge their ethical duties, ensure that they are accountable for their actions, and take voluntary initiatives to address social and environmental concerns. By doing so, they can avoid the need for government intervention and regulations. Therefore, "All of the above" is the correct answer as it encompasses all the mentioned points in the argument for CSR.Rate this question:
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- 20.
The spending on CSR activity is mandatory in India for the following organizations:
- A.
3% spending for above 5 cr profit organizations.
- B.
2% spending for above 5 cr profit organizations.
- C.
1% spending for above 5 cr profit organizations.
- D.
Some spending on above 5cr profit organizations.
Correct Answer
B. 2% spending for above 5 cr profit organizations.Explanation
In India, organizations with profits above 5 crore are required to spend 2% of their profits on CSR activities. This is mandated by the government to ensure that businesses contribute to social and environmental causes. The specific percentage of 2% is determined to strike a balance between encouraging corporate responsibility and allowing organizations to allocate their funds efficiently. This requirement helps promote sustainable development and the well-being of communities in India.Rate this question:
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Current Version
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Feb 13, 2023Quiz Edited by
ProProfs Editorial Team -
Mar 09, 2015Quiz Created by
Chetan
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