Nick and Juliet Work in an Online Retailing Firm in Chicago

question 61

Multiple Choice

Nick and Juliet work in an online retailing firm in Chicago. Nick believes that a company's primary social responsibility is economic in nature while Juliet believes that its primary responsibility is to contribute to the enhancement of the community in which it operates. Which of the following statements, if true, strengthens Nick's belief?

• A)To thrive and grow, a firm must meet its philanthropic responsibilities.
• B)Economic responsibility can be viewed as an obligation only if we view the firm as a contributing citizen to the communities in which it operates.
• C)Unless a firm produces profitable products and becomes a sustainable contributor in society, all its other responsibilities fade away.
• D)To survive a firm must meet its legal and ethical obligations before fulfilling the other obligations.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.