In his Ted Talk on the “Social Responsibility of Business” Alex Edmans asked whether businesses exist “To earn profit? or to serve a purpose? For shareholders? or for society, customers, employees and the environment?”According to the talk, which of the following statements are incorrect?Group of answer choicesBecause data measuring the social responsibility of individual companies is not as familiar to investors as financial data, investors that gather this information will be at a competitive advantage.The conventional view is that firms exist exclusively to earn a profit.The choice between purpose and profits is not “either or” … it is both.The choice between purpose and profit is a zero-sum game.The alternative view agrees that profits are good, but that they are a by-product of firms acting to serve a purpose.

Which statement is most correct about “corporate social responsibility” from the following statements?Group of answer choicesCSR recognizes that conventional economic needs define marketsCSR is integral to profit maximizationCSR is only focused on corporate philanthropyCSR agendas are about creating shared social and economic valueCSR programs focus mostly on reputation

Multiple Choice QuestionMilton Friedman, in his article "The Social Responsibility of Business Is to Increase Its Profits," suggests that Blank______.Multiple choice question.business has social responsibilities that go beyond the legal and economic ends for which it was createdcontrary to the title, the social responsibility of business is not to increase its profits but rather to invest them in societythe ethical responsibilities of managers are fulfilled when they pursue profit and increase shareholder wealththe legal restrictions on business should be removed as they prevent business from improving society

What is the fundamental difference between Muhammad Yunus's social business and typical for-profit businesses?Group of answer choicesVolunteers run the company in order to extend more benefit to the poor.A new legal entity that forces accountability to social impact.Investors only receive repayment of the principal and no profit is ever paid out in a dividend.Products and services are offered to the market at a 'break even' price point.

The concept of corporate social responsibility involves the notion that corporations are Blank______.Multiple choice question.economic entities that serve no purpose other than to maximize profitsbusinesses that are only obligated to fulfill legal requirementsabstract concepts that materialize only when they are involved in philanthropysocial institutions formed by society to serve the ends of human beings

In what way do Vision Spring and Warby Parker participate in corporate social responsibility?Multiple Choiceby establishing an ethical standardby building a profitable businessby providing fashionable eyewearby placing profits above all elseby building power in the market