Societal Responsibility Refers to

question 53

Multiple Choice

Societal responsibility refers to

• A)the obligation that organizations have to the preservation of ecological environment and the general public.
• B)the obligation of a firm to price its products or services at a level whereby the consumer is treated fairly and the firm is still able to make a profit.
• C)the view that an organization has an obligation to those who can affect the achievement of its objectives.
• D)the duty of a firm to maximize profits for its owners or stockholders.
• E)the idea that organizations are part of a larger society and are accountable to that society for their actions.

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Definitions:

Top Manager

An individual at the highest level of organizational management who is responsible for setting strategic goals and making decisions that affect the entire organization.

Marketing Goals

Specific, measurable objectives set by a business or organization to guide its advertising and promotional efforts.

Quantitative Terms

Terms or conditions related to numerical values, such as measurements, quantities, or statistical data.

Executive Summary

A concise document summarizing the key points of a more extensive business report or proposal.