_____ Is the Concern of Business for the Long-Range Welfare

question 54

Multiple Choice

_____ is the concern of business for the long-range welfare of both the company and its relationships to the society within which it operates.

• A) Consumerism
• B) Corporate social responsibility
• C) Cultural sensitivity
• D) Conventional morality
• E) Environmental consideration

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Definitions:

Planning Fallacy

A cognitive bias where people underestimate the time, costs, and risks of future actions while overestimating the benefits, leading to overly optimistic project timelines.

Fair Procedures

Practices and policies that are impartial, equitable, and just in decision-making processes or dispute resolutions.

Collective Information-processing Model

A model that describes how groups gather, share, and evaluate information to make decisions collectively.

Social Loafing

The phenomenon where individuals expend less effort when working in a group than when working alone.