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STR 581 Week 1 Knowledge Check

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STR 581 Week 1 Knowledge Check -

1. For the past 28 years, ABC, Inc. has made a significant investment of time, money, and other resources to increase the literacy rate in adult Americans. This represents which of these principles of successful collaborative social initiatives?

  • Weigh government influence.
  • Identify a long-term durable mission.
  • Assemble and value the total package of benefits.
  • Leverage core capabilities

 

2. according to stakeholder theory, in a survey of over 2000 directors from over 290 U.S. companies, which of these stakeholders was perceived to be least important?

  • Government
  • Employees
  • Stockholders
  • Society

 

3. Which law revised and strengthened auditing and account standards?

  • Truth in Lending Act of 1968
  • National Environmental Policy Act of 1969
  • Federal Fair Trade Act of 1986
  • Sarbanes-Oxley Act of 2002

 

4. Which of these is true about Sarbanes-Oxley Act of 2002?

  • The directors and executive officers are required to trade the company's 401(k) plan, profit sharing plan and retirement plan during the blackout period
  • The act requires that the audit committee must be composed entirely of inside officers.
  • Companies are required to extend personal loans to executives and directors.
  • The CEO and CFO must verify every report containing the company's financial statements.

 

5. A major consequence of the Sarbanes-Oxley Act of 2002 has been the

  • political fallout in congress
  • outsourcing of jobs in lower wage countries
  • Super growth in accounting firms in the U.S.
  • reorganizing of the governance structure of American corporations

 

6. the most critical quality of ethical decision making is

  • economics
  • expeditions
  • objectivity
  • consistency

 

7. Judging the appropriateness of a particular action based on a goal to provide the greatest good for the greatest number of people is what ethics approach?

  • Moral rights approach
  • Social justice approach
  • Business ethics approach
  • Utilitarian approach

 

8. Judging the appropriateness of a particular action based on equity, fairness, and impartiality in the distribution of rewards and costs among individuals and groups is what ethics approach used by managers?

  • Utilitarian approach
  • Business ethics approach
  • Moral rights approach
  • Social justice approach

 

9. A broadly framed but enduring statement of a firm’s intent is defined as the company

  • vision
  • credo
  • slogan
  • mission

 

10. This statement of a company’s philosophy usually appears within the mission statement and specifies basic beliefs of a firm.

  • Company slogan
  • Company sponsor
  • Company commercial
  • Company creed

 

11. This statement presents the firm’s strategic intent that focuses the energies and resources of the company on achieving a desirable future.

  • Mission statement
  • Values statement
  • Company statement
  • Vision statement

 

12. The strategic decision makers in the firm are responsible for

  • rewards
  • daily operations
  • the firm’s accounting practices
  • the firm’s mission

 

13. The idea that businesses have a duty to serve society as well as the financial interest of stockholders is called

  • going green
  • corporate audit
  • corporate services
  • corporate social responsibility

 

14. Which of the following strategic decision makers implement the overall strategy?

  • Board of directors
  • Business managers
  • Functional managers
  • Corporate managers

15. Which level of strategy uses a portfolio approach?

  • Business
  • Operational
  • Corporate
  • Functional

16. Of the three levels of strategy that are part of an organizations decision-making hierarchy, which level develops annual objectives and short-term strategies in such areas as production, operations, and research and development, finance and accounting, marketing, and human relations?

  • Corporate
  • Business
  • Management
  • Functional

 

17. The behavioral consequences of strategic management are similar to those of

  • authoritative decision making
  • centralized decision making
  • autocratic decision making
  • participative decision making

 

18. What do strategic managers call a flow of information through interrelated stages of analysis toward the achievement of an aim?

  • Strategic control
  • Process
  • Continuous improvement
  • Long-term objective

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