Refer to the Scenario Below to Answer the Following Questions

question 22

Multiple Choice

Refer to the scenario below to answer the following questions.
Approaches to Social Responsibility (Scenario)
Marco was confused. His management class was focusing on social responsibility, and his assignment was to find examples of businesses that used different approaches toward social responsibility. He had three good examples but was not sure which case was an example of which concept. The first business was a fishing company that had been subject to protests from environmentalists. In their efforts to balance the interests of shareholders and other stakeholders, the company decided to change their harvesting methods so that dolphins would no longer be caught with the tuna. The second company was a fast-food restaurant whose primary objective was to maximize profits for its owners. Restaurant employees were paid minimum wages and benefits in accordance with local labour laws. The third business was a bank that spent millions of dollars a year on charitable causes. The bank's managers felt they had an ethical responsibility to do the right things and act in ways that are good for society.
-The approach taken by the fishing company is generally thought to be more __________ than the approach taken by the bank.

• A) ethical
• B) long term
• C) philosophical
• D) intangible
• E) pragmatic

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Definitions:

Power

The ability or capacity to influence or control the behavior of others or the course of events.

Normative Power

It refers to the ability of a standard or norm to influence the behavior of individuals or groups, often through values or ethical considerations.

Strategic Function

The purposeful roles or actions designed to achieve a long-term goal or objective in planning or operations.

Paradox

A statement or proposition that, despite sound reasoning from acceptable premises, leads to a conclusion that seems logically unacceptable or self-contradictory.