FINA 2720 Quiz 1-5 Solutions

The triple bottom line consists of ______, _______, and _______ metrics of organizational success.

Social, economic, environmental

The human population’s ______ now surpasses the available biocapacity of the planet.

Ecological footprint

According to the Rio+20 Summit on Sustainability, businesses should focus less on ______ and more on ______.

Short-term competitiveness, long-term performance

In the coming decade, global average surface temperatures, flooding, water consumption, habitat loss, chemical exposure, and electronic waste are expected to ______.

Increase

Internalizing a risk means that the party who creates a risk ultimately _____ for it.

Takes responsibility

Even the most advanced level of private sector commitment to public health and environmental protection is driven by the traditional ______ motive.

Profit

Biocentrism holds that every living creature has ______.

Intrinsic value

Natural capital accounting _______ of ecosystem services in order to evaluate the social return on environmental investment.

Quantifies the value

The ______ to operate describes the unwritten expectations of fairness held by the community affected by a company’s activities.

Social license

Conservation _____ the exploitation of natural resources.

Allows

Timberland, LLC uses ______ to engage employees in CSR.

Community service

Finding practical commercial and industrial applications of biological features of plants and animals in the practice of ______.

Biomimicry

Corporate social responsibility is a form of industry _______ that integrates into business strategy a process for monitoring and managing corporate conduct relative to external stakeholders.

Self-regulation

Empirical trends ______ the Environmental Kuznets Curve.

Undermine

Regenerative capacity refers to the amount of useful _____ an ecosystem can produce, and the amount of ______ it can absorb, given prevailing consumption and management practices.

Biological material, waste

A market situation where all participants have an incentive to exploit a resource yet no one can limit anyone else's access to that resource, resulting in over-exploitation, can be described as a(n) __________.

Tragedy of the commons

Corporate __________ is the system of rules, practices, and processes by which a company's various divisions are directed and controlled to fulfill the company mission.

Governance

The ______ view of corporate responsibility resolves the tension between shareholder and stakeholder views.

Enlightened value maximization

Sustainable business leaders tend to exhibit a five-stage pattern of increasing incorporation of sustainability into practice: instilling values, taking action, deepening understanding, ______, and _______.

Sustaining commitment, advocating within industry

Self-regulation such as the American Chemistry Council's Responsible Care Management System is _______ by government

Not required

The four traditional types of organizational leadership strategy are forceful, strategic, operational, and _____.

Enabling

Innovation is the investment of a company into research and development resulting in ______ from the status quo.

Beneficial Change

The main difference between "hard law" and "soft law" is ______.

Enforceability

The Clean Air Act regulates air pollution emissions from ______ and ______ sources.

Stationary, mobile

According to the Green Marketing Guidelines, claiming a product is sustainable may be ______ if the product's environmental benefits are outweighed by its adverse impacts.

Deceptive

Extended producer responsibility laws require electronics manufacturing companies to take responsibility for disposal of waste generated by ______ products.

Obsolete

The attitude of ______ sees law as a barrier to economic growth.

Avoidance

______ is a form of private sector influence over public policy.

Lobbying

The Resource Conservation and Recovery Act governs the generation, transport, treatment, storage, and disposal of ______.

Hazardous solid waste

The purpose of environmental law is to protect environmental integrity and ______.

Public health

The most common reason companies disclose environmental, health, and safety information is ______.

Response to customer inquiry

The SEC's Commission Guidance Regarding Disclosure Related to Climate Change advises managers to provide ______ disclosures about known trends associated with climate change that are reasonably likely to have a material impact on a company's operations.

Future-oriented

A factory that emits carbon dioxide decides to report its greenhouse gas footprint. Their direct emissions from internal operations are an example of ______ Emissions.

Scope 1

The majority of companies that report sustainability performance in the S&P 500 use the ______ framework, which is the most widely used sustainability reporting framework in the world.

Global Reporting Initiative

When the impacts of environmental issues are measurable in financial terms, they can and should be included as quantitative elements in business accounts by ______ professionals.

Finance and accounting

Natural capital accounting means measuring and reporting the environmental externalities of business in order to inform business decision-making and to manage the risks of natural resource ______

Dependency

Puma developed the _________ metric to put the environmental performance of products into financial terms.

Environmental Profit & Loss

______ verification provides objective assessment and validation of the accuracy of sustainability

Independent, third-party

The ISO ______ series, titled Guidance on Social Responsibility, provides a process to ensure business decisions affecting society or the environment are made ethically and transparently.

26000

______ is the forthright disclosure of relevant information regarding corporate conduct to affected stakeholders.

Reporting