The Idea That Business Firms Should Serve Both Society and the Financial

question 7

Multiple Choice

The idea that business firms should serve both society and the financial interests of the shareholders is known as

• A)the corporate charter.
• B)the corporate dilemma.
• C)managerial ethics.
• D)None of the above.

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Definitions:

Situation Variables

Factors that can change the context or circumstances of an event or decision-making process, affecting outcomes in potentially unpredictable ways.

Leader Substitutes Theory

A concept in organizational studies that suggests certain characteristics of the task, subordinates, and organization can substitute for leadership, making the leader's role less critical.

Effective Time Management

The ability to use one's time productively and efficiently, often through planning, prioritizing tasks, and managing distractions to achieve goals.

Procrastination

The action of delaying or postponing tasks despite knowing there will be negative consequences for doing so.