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- Capitalism is an outdated economic system.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