What Is the Difference Between the Old Social Contract Approach

question 79

Multiple Choice

What is the difference between the old social contract approach and the modern social contract approach to corporate management?

• A)The old social contract emphasizes advancement in the quality of life, whereas the modern social contract approach emphasizes monetary and financial advancement.
• B)The old social contract approach argues that there is an obligation for the corporation to meet the demands of society, whereas the modern social contract approach argues that a company's obligation is only to its shareholders.
• C)The modern social contract approach focuses on the delivery of quarterly earnings numbers, from a short-term perspective, whereas the old social contract focuses on maintaining a longer-term perspective.
• D)The modern social contract approach aims to meet the demands of all stakeholders and the shareholders, whereas the old social contract approach was based only on economic growth.

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Definitions:

Synergistic Group Effect

The phenomenon where the combined effort of a group produces a greater effect than the sum of their individual efforts.

Dynamic Interactions

The continual and evolving influences between entities or elements within a system, often leading to changes in the system itself.

Collective Brainstorm

A group creativity technique where individuals gather to generate ideas, solve problems, or discuss topics openly without immediate critique.

Moderator

A person who oversees and facilitates discussions, ensuring that all participants have the opportunity to contribute.