The Strategy and Structure of a Firm Change as the Firm

question 25

True/False

The strategy and structure of a firm change as the firm increases in size,diversifies into new product markets,and limits its geographic scope.

Understand the concept of corporate social responsibility and its dimensions.

Identify the differences between legal compliance and voluntary commitments in business ethics.

Recognize the role of corporate governance in ethical corporate management.

Discriminate between different stakeholders and their roles within corporate social responsibility.

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Definitions:

Product Safety Standards

Regulations established to ensure that products meet minimal safety criteria to protect consumers.

Equal Credit Opportunity Act

A United States law that makes it unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction, on the basis of race, color, religion, national origin, sex, marital status, or age.

Extension Of Credit

An agreement to allow a purchaser to pay for goods or services at a future date, typically involving interest fees.

Fair Credit Reporting Act

A U.S. federal law designed to ensure the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies.