An Important Source of Public Scrutiny Is "Watchdogs

question 216

Multiple Choice

An important source of public scrutiny is "watchdogs".These are:

• A)the efforts of a firm's competitors,including how often the competitors attack the firm's strategies.
• B)tax payer supported government agencies that limit a firm's ability to compete foreign markets.
• C)these are companies designated by the government to only produce products that support the government defense program.
• D)these are socially conscious groups that make it their mission to measure the social responsibility levels of businesses,and provide consumers with their opinions about the level of corporate responsibility of various companies.

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Definitions:

Social Responsibility

The obligation of a business to have a positive effect on society on four levels—economic, legal, ethical, and philanthropic.

Business's Obligation

The responsibilities and commitments a business has, including legal, financial, and ethical duties to its stakeholders.

Community

A group of people living in the same place or having a particular characteristic in common, often sharing a sense of belonging or community spirit.

Control Systems

The means to monitor input, transformation, and output so as to identify problems.