Intro Business MCQ: November 2017

Archive for November 2017

In formulating and implementing strategy in the social economy, managers must ensure that their actions, in addition to guiding the economic activity of the not-for-profit (NFP), effectively respond to the following:

A. Maintain the balance between the economic base and the social mission and goals
B. Enhance the vitality of the organization
C. Maintain the atmosphere of collective entrepreneurship
D. Enhance the rootedness of the organization
E. All of the above

Answer: All of the above

In formulating and implementing strategy in the social economy, managers must ensure that their actions, in addition to guiding the economic activity of the not-for-profit (NFP), effectively respond to the following:

In formulating and implementing strategy in the social economy, managers must ensure that their actions guide the ______ activity of the not-for-profit (NFP), as well as other strategy considerations.

With respect to the overall mission of the organization, what is the difference between for-profit entities and not-for-profits?

Like for-profit entities, not-for-profits must develop ________ which produce positive financial results for the organization.

Rather than having __________, not-for-profits' actions are being assessed by some organized ______ (membership base, government entity, or community board).

Small and medium-size business owners need to assess and anticipate the changes which are occurring:

Why can't small and medium-size business owners, seem to take the time to plan strategically?

What is a key requirement of the strategy execution phase?

Which of the following do organizations NOT commit their capital resources for within the execution phase?

What is the final phase of the strategic planning process?

_____ strategy objectives, which defined how to accomplish the stated corporate objectives.

The following are key components of the operating plan development process, except:

What is a key component of the operating plan development process?

What is developed after the corporate level and business level strategies and objectives have been identified?

A key component of the operating plan development process is:

When a firm makes use of SWOT analysis, one of its objectives is to:

Jamal is part of a management group that is examining whether his company, State Engineering, should offer some important new services that would broaden its business by appealing to a different group of potential clients. Jamal's group is involved with:

Strategic planning looks at the organization as a whole, while ________ planning focuses on specific supervisors, department managers, and individual employees.

______ analysis is used to help companies evaluate their economic environments, assess their strengths and weaknesses, and identify competitive threats and market opportunities.

The _________ level of planning would be determining specific objectives which it hopes to achieve for each of its identified business initiatives and/or business units.

What are the three parts of formulating the strategic plan?

What is a key outcome of the I/E Analysis?

Which of the following is NOT one of the key areas in which the I/E Analysis is assessing business risk and change?

Which of the following is NOT part of the strategic planning process and its organizing framework?

_______ are specific, short-term results an organization needs to achieve in order to fulfill its long term goals.

_________ are broad, long-term accomplishments an organization wants to achieve.

_______ involves setting the organization's vision, goals, and objectives.

Employees often work with managers to develop a(n) __________ that outlines the fundamental purposes of their organization.

A meaningful mission statement should address topics such as the organization's:

A vision for a company is:

A __________ is an overall explanation of why an organization exists and where it is trying to head.

The revolution in management that is currently underway suggests that the most effective managers of the future will:

Today, managers have to make allocation decisions around the use of which scarce resources,

A ________ statement is a forward-thinking statement which defines what a company wants to become and/or where it is going.

Developing a business strategy looks at each of the six areas _______, but also ________, in determining the road which an organization should take.

______ refers to identifying who, within the business, will be responsible for each aspect of the strategic plan.

Which of the following is NOT one of the six key areas that business managers answer in the development of a business strategy.

In order for an organization to be successful over the long term, managers need to have a ___________ as to where and how to compete in the markets in which they intend to serve.

Which of the following were not identified as being fundamental to the CSR definition?

A business's responsibilities to its owners and investors include

Which of the following is NOT one of the "Attracting, Retaining and Managing Talent" responsibilities?

Which of the following is NOT one of the "Financial Resource Management" responsibilities?

Which of the following is NOT one of the "Business System Design and Development" responsibilities?

Which of the following is NOT one of the "Market Assessment and Strategy Development" responsibilities?

Which of the following is not one of the approaches associated with corporate social responsibility?

If a business fails in meeting its responsibilities to its employees, all of the following are likely to occur except:

One strategy guaranteed to displease your customers is to:

Consumers vote against firms they view as socially irresponsible by not

Those who argue in favour of corporate social responsibility suggest that:

Top management at Lancer Distributing is convinced that they have a social responsibility to their community. They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations. This is an example of corporate:

Determining what is involved for a firm to be socially responsible:

Corporate ________ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution.

Which of the following describes charitable donations by corporations to nonprofit organizations?

All else held equal, socially responsible firms:

Corporate social responsibility describes the firm's:

Which of the following should help reduce the incidence of unethical behavior in an organization?

Codes of ethics foster ethical behavior by

What occurs when an employee exposes an employer's wrongdoing to outsiders?

A set of formalized rules and standards that describe what a company expects of its employees is called a(n)

Which step is the most critical to help improve business ethics?

After developing a code of ethics, it should be communicated to:

As a new employee, Vanessa has heard her boss say, "Do whatever it takes to meet your sales quota. However, anyone caught violating a law will be immediately fired." Vanessa recognizes this as a(n) ________-based code of ethics.

Which of the following have been cited as incidents of unethical business activity recently?

The Sarbanes-Oxley Act and Ontario's Bill C-198 were both passed to

Which of the following would be a unique focus of an integrity-based ethics code?

Which of the following terms describes someone who reports illegal or unethical behaviour?

The majority of CEOs blame unethical employee conduct on:

With respect to business ethics, it can be said that "it takes two to tango." This indicates that:

Following an ethics-based approach to decision making will normally lead to higher ________.

A competitive corporate environment:

When managers appear to disregard ethical concerns, the likely results would include:

Corporate values are:

All of the following are reasons why a business should be managed ethically except:

Rather than having ____, not-for-profits' actions are being assessed by some organized (membership base, government entity, or community board).

Developing a business strategy looks at each of the six areas _, but also __, in determining the road which an organization should take.