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Business in Society: The Problem

Business in Society: The Problem >> New Models of Business in Society

1. Radical advances in information technology are driving much of the change in the business world.

  • True
  • False

2. Which one of the following is NOT one of the Four Flaws of the Standard Story of business?

  • Business is just about economics and making money.
  • People are just motivated by money.
  • Capitalism is an outdated economic system.
  • Business ethics is an oxymoron (a figure of speech that combines contradictory terms), e.g. jumbo shrimp.

3. The Global Financial Crisis had no effect on the public’s trust in banks and big business.

  • True
  • False

4. Which of the following are included in the Six Key Assumptions about the Dominant Story of Business? (check all that apply)

  • The only constituency that matters is shareholders.
  • Capitalism works because humans are completely self-interested and will only act for others if given proper incentives.
  • All business people wear business suits.
  • We live in a world of limitless physical resources, so we don’t need to pay attention to our impact on the environment.

5. The following are included in the Five Principles that support the New Story of Business: (check all that apply)

  • Business is primarily about purpose – money and profits follow
  • Building and leading a business involves getting the interests of all the stakeholders going in the same direction.
  • All business transactions need to be done on Fridays.
  • Most people have moral values and act responsibly most of the time – that behavior needs to be expected.

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