Societal Responsibility Refers to

question 101

Multiple Choice

Societal responsibility refers to

• A)the obligation that organizations have to (1)the preservation of ecological environment and (2)the general public.
• B)the obligation of a firm to price its products or services at a level whereby the consumer is treated fairly and the firm is still able to make a profit.
• C)the view that an organization has an obligation to those who can affect the achievement of its objectives.
• D)the duty of a firm to maximize profits for its owners or stockholders.
• E)the idea that organizations are part of a larger society and are accountable to that society for their actions.

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Definitions:

Tight Labour Market

Economic conditions characterized by low unemployment rates and high demand for workers, often leading to increased wages and a competitive environment for hiring.

Labour Supply

The total hours that workers are willing and able to work at a given wage rate.

Engineering School Graduates

Engineering school graduates refer to individuals who have successfully completed an engineering program at a college, university, or technical school.

Job Sharing Arrangements

A work structure where two or more individuals share the responsibilities and duties of a single full-time job.