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| 1 | |
The structures and processes in a society that authoritatively make and carry out the society's policies and rules are referred to as: |
| | A) | ideas. |
| | B) | ideologies. |
| | C) | businesses. |
| | D) | governments. |
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| 2 | |
Which of the following establish the broad goals of life by defining what is considered good, true, right, beautiful, and acceptable? |
| | A) | Institutions |
| | B) | Values |
| | C) | Ideologies |
| | D) | Cultural habits |
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| 3 | |
A society: |
| | A) | is a network of human relations that includes ideas, institutions, and material things. |
| | B) | refers to structures and processes that authoritatively make and apply rules. |
| | C) | refers to a broad term encompassing a range of actions and institutions. |
| | D) | is a basic way of seeing the BGS relationship. |
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| 4 | |
In the BGS field, which of the following establishes the broad duties that businesses must perform to retain society's support? |
| | A) | Mercantilism |
| | B) | Laissez-faire agreement |
| | C) | Social contract |
| | D) | Countervailing force |
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| 5 | |
_____ capitalism is a market economy in which the dominant businesses are large firms run by salaried managers, not smaller firms run by owner-entrepreneurs. |
| | A) | Investor |
| | B) | Entrepreneurial |
| | C) | Managerial |
| | D) | Corporate |
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| 6 | |
_____ is an economic philosophy which believes that it is for governments, not businesses, to correct social problems, and therefore, managers should define company interests narrowly, as profitability and efficiency. |
| | A) | Laissez-faire |
| | B) | Socialism |
| | C) | Libertarianism |
| | D) | Marxism |
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| 7 | |
The countervailing forces model: |
| | A) | depicts business as operating within a market environment, responding primarily to powerful economic forces. |
| | B) | depicts the BGS relationship as a flow of interactions among the major elements of society. |
| | C) | shows the corporation at the center of an array of mutual relationships with persons, groups, and entities called stakeholders. |
| | D) | is depicted in a pyramidal, hierarchical image of society which primarily represents the perspective of business critics. |
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| 8 | |
One criticism of the stakeholder model is that it: |
| | A) | depicts business as operating within a market environment. |
| | B) | represents primarily the perspective of business critics. |
| | C) | seeks to give power to the powerless by replacing force with ethical duty. |
| | D) | acts as a buffer between business and nonmarket forces. |
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| 9 | |
Strategic management may be defined as: |
| | A) | the broad duties that business must perform to retain society's support. |
| | B) | actions taken by managers to adapt a company to changes in its market and sociopolitical environments. |
| | C) | formal patterns of relations that link people together to accomplish a goal. |
| | D) | a network of human relations composed of ideas, institutions, and material things. |
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| 10 | |
In addition to creating wealth and bringing in new material comforts, _____ brings risks of economic shocks and imposes burdens on human rights and the environment. |
| | A) | Marxism |
| | B) | socialism |
| | C) | managerialism |
| | D) | capitalism |
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