The Sustainability Development Quiz

2.

For a corporation to be sustainable over a long period of time, it must satisfy the following: (click all that apply) (Wheelen & Hunger, pg.75, 2010)

Economic
Ethical
Legal
Financial

Correct Answer(s)

A. Economic
A. Ethical
A. Legal

Explanation

A corporation needs to satisfy the economic aspect to ensure it is profitable and financially stable. This involves generating revenue, managing costs, and ensuring long-term financial sustainability. Additionally, the corporation must also adhere to ethical standards to maintain a positive reputation and gain the trust of its stakeholders. This includes acting responsibly towards employees, customers, and the environment. Lastly, the corporation must comply with legal requirements and regulations to avoid legal issues and penalties. By satisfying these three aspects - economic, ethical, and legal - a corporation can ensure its long-term sustainability.

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3.

Social sustainability includes which of the following? (Wheelen & Hunger, pg. 76, 2010)

Supply chain management
Corporate governance
Corporate citizenship
Environmental reporting

Correct Answer

A. Corporate citizenship

Explanation

Social sustainability refers to the responsibility of a company to contribute positively to society. Corporate citizenship is a key aspect of social sustainability as it involves companies actively engaging in activities that benefit communities and stakeholders. This can include philanthropy, volunteerism, and ethical business practices. By practicing corporate citizenship, companies can help address social issues, promote equality, and enhance their reputation as socially responsible organizations.

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4.

Q4. Climate change and increasing costs associated with it are a growing concern for many companies. Swiss Re, is the 2^nd largest reinsurer in the world, they estimate that the overall economic costs of climate catastrophes related to climate change threatens to double to $150 billion per year by 2014, True or false? (Wheelen & Hunger, pg. 10, 2010)

True
False

Correct Answer

A. True

Explanation

The given statement is true. Swiss Re, the 2nd largest reinsurer in the world, estimates that the overall economic costs of climate catastrophes related to climate change will double to $150 billion per year by 2014. This indicates that climate change and its associated costs are indeed a growing concern for many companies.

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5.

The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit. What are Archie Carroll’s four responsibilities of business (pg. 73)?

Legal, financial, economic, and ethical
Shareholder, economic, legal, and ethical
Legal, ethical, economic, and discretionary
Charity, economic, ethical, and legal

Correct Answer

A. Legal, ethical, economic, and discretionary

Explanation

Archie Carroll's four responsibilities of business are legal, ethical, economic, and discretionary. These responsibilities suggest that a private corporation should not only abide by the law but also act ethically, fulfill its economic obligations, and go beyond these requirements by voluntarily contributing to society. The term "discretionary" refers to the voluntary actions taken by a business that are not mandated by law or regulations but are seen as socially responsible. Therefore, the correct answer is legal, ethical, economic, and discretionary.

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6.

Having the right marketing mix helps companies maintain suitability. In order to maintain a competitive advantage, business firm’s use four variables called the four P’s, what are they? (Wheelen & Hunger, pg.151, 2010)

People, promotion, price, and product
Plans, people, price, and product
Place, product, promotion, and price
Product, policies, promotion, and price

Correct Answer

A. Place, product, promotion, and price

Explanation

The four variables that help companies maintain suitability and a competitive advantage are place, product, promotion, and price. These variables, also known as the four P's of marketing, are essential for developing and implementing effective marketing strategies. Place refers to the distribution channels and locations where the product is made available to customers. Product refers to the goods or services being offered. Promotion involves the marketing communication and activities used to promote the product. Price refers to the pricing strategy and the value assigned to the product.

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7.

Transparency can best be defined as: (Choose the best option) (Wheelen & Hunger, pg. 140, 2010)

The speed with which other firms can understand the relationship of the law and establishing a code of ethics in the workplace
The speed with which other firms can understand the relationship of resources and capabilities supporting a successful firm’s strategy
The speed with which other firms can understand the relationship of the law and ethical business decisions
The speed with which other firms can understand the relationship of shareholder responsibility and the law

Correct Answer

A. The speed with which other firms can understand the relationship of resources and capabilities supporting a successful firm’s strategy

8.

Environmental sustainability includes the following: (Wheelen & Hunger, pg. 76, 2010)

Environmental reporting
Eco-design and efficiencies
Environmental management systems
Executive commitments

Correct Answer(s)

A. Environmental reporting
A. Eco-design and efficiencies
A. Environmental management systems
A. Executive commitments

Explanation

Environmental sustainability encompasses several key components, as mentioned in the given options. Executive commitments refer to the dedication and involvement of top-level management in promoting and implementing sustainable practices. Eco-design and efficiencies involve designing products and processes that minimize environmental impact and maximize resource efficiency. Environmental management systems are frameworks that organizations use to identify and manage their environmental impacts. Lastly, environmental reporting involves the transparent and accurate communication of an organization's environmental performance. These four elements together contribute to achieving and maintaining environmental sustainability.

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1

9.

Which of the following is a common criticism of the concept of "sustainable development"?

It is too focused on environmental protection at the expense of economic growth.
It is a vague and ill-defined concept that is difficult to implement in practice.
It fails to address the root causes of poverty and inequality.
It is overly reliant on technological solutions to environmental problems.

Correct Answer

A. It is a vague and ill-defined concept that is difficult to implement in practice.

Explanation

While sustainable development is a widely accepted goal, one common criticism is that it lacks a clear and universally agreed-upon definition. This can make it difficult to measure progress and to develop concrete strategies for achieving sustainability. Critics argue that the concept is often used rhetorically without a clear understanding of what it entails in practice.

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3

10.

Which of the following best describes economic sustainability? (Wheelen & Hunger, pg. 76, 2010)

Investments with internal technology
Focusing sales to market needs
Anti- corruption policies
Corporate citizenship

Correct Answer

A. Anti- corruption policies

Explanation

Economic sustainability refers to the ability of a company or economy to maintain long-term growth and stability. Anti-corruption policies are essential for economic sustainability as they promote transparency, accountability, and fair business practices. By preventing corruption, companies can ensure a level playing field, attract investments, build trust, and foster a favorable business environment. This ultimately contributes to the overall economic growth and sustainability of the organization or economy.

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The Sustainability Development Quiz

The continuum of sustainability includes slow-cycle resources sustainable because they are shielded by: (Wheelen & Hunger, pg. 141, 2010)

Quiz Preview

For a corporation to be sustainable over a long period of time, it must satisfy the following: (click all that apply) (Wheelen & Hunger, pg.75, 2010)

Social sustainability includes which of the following? (Wheelen & Hunger, pg. 76, 2010)

The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit. What are Archie Carroll’s four responsibilities of business (pg. 73)?

Having the right marketing mix helps companies maintain suitability. In order to maintain a competitive advantage, business firm’s use four variables called the four P’s, what are they? (Wheelen & Hunger, pg.151, 2010)

Transparency can best be defined as: (Choose the best option) (Wheelen & Hunger, pg. 140, 2010)

Environmental sustainability includes the following: (Wheelen & Hunger, pg. 76, 2010)

Which of the following is a common criticism of the concept of "sustainable development"?

Which of the following best describes economic sustainability? (Wheelen & Hunger, pg. 76, 2010)