New Models of Business in Society Coursera Quiz Answers

All Weeks New Models of Business in Society Coursera Quiz Answers

In this course, developed at the Darden School of Business at the University of Virginia and taught by top-ranked faculty, we will be discussing the emergence of a new story about business. This new story locates business within a societal framework.

Almost every business creates or destroys value for customers, suppliers, employees, communities, and society, in addition to shareholders and other financiers. A number of new models of business can be built on this idea such as corporate responsibility, philanthropy, shared value, and sustainability. Profits and stakeholder values go together, and this course explains how.

The final session explores the idea of how to become a stakeholder entrepreneur and create a business that makes money and makes the world a better place.

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New Models of Business in Society Coursera Quiz Answers

Week 1: The Problem

Q1. Radical advances in information technology are driving much of the change in the business world.

  • True
  • False

Q2. 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  • Capitalism is an outdated economic system.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.

Q3. The Global Financial Crisis had no effect on the public’s trust in banks and big business.

  • True
  • False

Q4. 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.

Q5. 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.

Week 2: The Role of Capitalism in Society

Q1. What are the Four Shades of Green? (Check all that apply)

  • Stakeholder Green
  • Money Green
  • Lime Green
  • Customer Green
  • Legal Green
  • Dark Green

Q2. One issue with corporate philanthropy and corporate social responsibility is that these programs are only “add-on’s” to the business models of companies, when they should be incorporated into the business models.

  • True
  • False

Q3. In 2011, companies donated the most money to the following issue: (choose one)

  • Education
  • Health & Social Services
  • Environment
  • Disaster Relief

Q4. Today’s model of corporate philanthropy can be traced back to Andrew Carnegie’s Two Principles of Wealth and the tradition of noblesse oblige.

  • True
  • False

Q5. There are still many challenges with the environmentalism movement, so it is important to take personal responsibility and not completely rely on others to make changes happen.

  • True
  • False

Week 3: Creating Value for Stakeholders

Q1. Which of the following executives are practicing Conscious Capitalism and helping to rewrite the old narrative of business? (Check all that apply)

  • Tom Gardner, The Motley Fool
  • Kip Tindell, The Container Store
  • John Mackey, Whole Food Market
  • Bernie Ebbers, WorldCom

Q2. What are the four key principles of the “Conscious Capitalism” movement? (Check all that apply)

  • Purpose is greater than profits
  • Multi-stakeholder view without tradeoffs
  • Conscious leadership
  • Conscious and supportive culture
  • Disregard environmental sustainability efforts

Q3. The definition of a stakeholder is, “any group or individual who can affect or be affected by the achievement of your purpose.”

  • True
  • False

Q4. According the Friction Principle, which of the following can be a source of value creation?

  • Conflict and criticism
  • Higher production
  • Increase in marketing
  • Lower production costs

Q5. “Thriving employees” are satisfied, engaged, productive and have better overall performance in the workplace.

  • True
  • False

Week 4: Becoming a Stakeholder Entrepreneur

Q1. There are new models of business in society emerging that are both making money and making the world a better place.

  • True
  • False

Q2. In the new stories of business that were discussed, the responsibility of building sustainable value belongs only to environmentalists so businesses should have no concern for the environment.

  • True
  • False

Q3. Select the roles that individuals can have in helping business make society a better place: (Select all that apply)

  • As an entrepreneur
  • As a customer
  • As a citizen and community member
  • As a student of an online course about how business can create value for society
  • As an employee
  • As an investor

Q4. The stakeholder theory suggests that the purpose of business is to create value for all stakeholders, including customers, suppliers, employees, communities and shareholders.

  • True
  • False

Q5. The models of corporate philanthropy and corporate social responsibility that are in existence today are the ONLY options that companies have to add value to society.

  • True
  • False
New Models of Business in Society Course Review:

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This course is intended for audiences of all experiences who are interested in learning about new skills in a business context; there are no prerequisite courses.

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