BUS 100 Textbook Notes Chapters 1-2

BUS 100 Textbook Notes Chapters 1-2

University

78 Qs

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BUS 100 Textbook Notes Chapters 1-2

BUS 100 Textbook Notes Chapters 1-2

Assessment

Quiz

Business

University

Easy

Created by

Arielle Sarah

Used 1+ times

FREE Resource

78 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is business?

An organization that is engaged in making a product or providing a service for a profit.

A theory that holds that all organisms are open to, and interact with, their external environments.

Refers to human beings and to the social structures they collectively create; specifically refers to segments of humankind, such as members of a particular community, nation, or interest group.

The closely intertwined relationships between business and society.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is society?

A theory that holds that all organisms are open to, and interact with, their external environments.

An organization that is engaged in making a product or providing a service for a profit.

Refers to human beings and to the social structures they collectively create; specifically refers to segments of humankind, such as members of a particular community, nation, or interest group.

The closely intertwined relationships between business and society.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is general systems theory?

The closely intertwined relationships between business and society.

A theory that holds that all organisms are open to, and interact with, their external environments.

Refers to human beings and to the social structures they collectively create; specifically refers to segments of humankind, such as members of a particular community, nation, or interest group.

An organization that is engaged in making a product or providing a service for a profit.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an interactive social system?

Refers to human beings and to the social structures they collectively create; specifically refers to segments of humankind, such as members of a particular community, nation, or interest group.

An organization that is engaged in making a product or providing a service for a profit.

A theory that holds that all organisms are open to, and interact with, their external environments.

The closely intertwined relationships between business and society.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is shareholder theory of the firm?

Their core arguments are: descriptive, instrumental, and normative

A theory that holds that the purpose of the firm is to create value for society.

A theory that holds that the purpose of the firm is to maximize its long-term market value. (Also known as ownership theory of the firm.)

A person or group that affects, or is affected by, a corporation’s decisions, policies, and operations. (See also market stakeholder and nonmarket stakeholder.)

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three core arguments for the supporters of the stakeholder theory of the firm?

  • Many laws give protection to stakeholders 

  • A person who exercises power on behalf of another 

Their core arguments are: descriptive, instrumental, and normative

  • When a manager identifies relevant stakeholders to understand their interest and power, they may have to assert these interests 

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the stakeholder theory of the firm?

A theory that holds that the purpose of the firm is to create value for society.

A person or group that affects, or is affected by, a corporation’s decisions, policies, and operations. (See also market stakeholder and nonmarket stakeholder.)

Managers must pay attention to their quarterly and annual financial performance 

  • An organization that does the stakeholder analysis 

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