The Difference Between Old Social Contract Approach to Corporate Management

question 57

Multiple Choice

The difference between old social contract approach to corporate management and modern social contract approach is that the:

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

Neutrality Acts

Legislation passed in the United States during the 1930s aimed at preventing the nation from being drawn into foreign conflicts by limiting American involvement with countries at war.

Munitions

Military weapons, ammunition, and equipment used in warfare.

D-Day

The Allied invasion of Normandy, France, on June 6, 1944, a pivotal event during World War II that led to the liberation of Western Europe from Nazi control.

Normandy

a region in France known for its role in the D-Day landings of June 6, 1944, during World War II, which marked the beginning of the end of the war in Europe.