Chapter 1
Chapter 2
Chapter 3
Test Prep
Wild Card!
100
a set of managerial decisions and actions that determines the long-run performance of a corporation.
What is Strategic Management
100
a mechanism established to allow different parties to contribute capital, expertise and labor for their mutual benefit
What is Corporation
100
proposes that a private corporation has responsibilities to society that extend beyond making a profit
What is Social Responsibility
100
1. Research of the planning practices of companies in the oil industry concludes that the real value of modern strategic planning is more a. in the planning b. in the strategic thinking and organizational learning c. in the resulting written strategic plan d. in the formality of the process e. in the improved communication within the organization
What is b. in the strategic thinking and organizational learning
100
organizations adapt to change and have the ability to reshape their environment
What is Strategic Choice Perspective
200
the integration and internationalization of markets and corporations
What is Globalization
200
the relationship among the board of directors, top management and shareholders in determining the direction and performance of the corporation
What is Corporate Governance
200
have an interest in the business and affect or are affected by the achievement of the firm’s objectives
What is Stakeholders
200
2. The time horizon involved with regard to basic financial planning is usually a. one year b. one quarter c. more than five years d. less than one month e. more than three years
What is A oneyear
200
Chocolate
What is Becca's favorite food
300
the use of business practices to reduce a company’s impact on the natural, physical environment
What is Environmental Sustainability
300
Board of directors are responsible that the corporation is not harmed by members of the board. Directors can be held liable
What is Due Care
300
articulates the firm’s ethical relationship with its stakeholders
What is Enterprise Strategy
300
3. A difference between basic financial planning and forecast-based planning is a. the time horizon is shorter in forecast-based planning b. forecast-based planning incorporates internal and external information c. basic financial planning utilizes consultants with sophisticated techniques d. basic financial planning utilizes scenarios and contingency strategies e. basic financial planning relies heavily on input from lower levels in the organization
What is b. forecast-based planning incorporates internal and external information
300
organizations adapt defensively and use knowledge to improve their relationship with the environment
What is Organizational Learning
400
established organizations are unable to adapt to change
What is Population ecology
400
only a portion of board members stand for re-election when directors serve more than one year terms
What is Staggered boards
400
claims that morality is relative to some personal, social, or cultural standard and that there is not a method for deciding whether one decision is better than another
What is Moral Relativism
400
4. The Sarbanes-Oxley Act was designed to protect a. retired workers from losing their pensions b. CEO's from losing their golden parachutes c. CEO salary increases d. shareholders from the excesses and failed oversight of firms e. corporations from misguided whistleblowers
What is D shareholders from the excesses and failed oversight of firms
400
Test Prep 6. According to Carroll, the responsibility that management of a business organization has to produce goods and services of value to society so that the firm may repay its creditors and stockholders is called a. legal responsibilities b. ethical responsibilities c. financial responsibilities d. economic responsibilities e. discretionary responsibilities
what is d. economic responsibilities
500
organizations adapt by imitating successful organizations
What is Institution theory
500
description of what the company is capable of becoming
What is Strategic Vision
500
specifies how an organization expects its employees to behave while on the job
What is Code of Ethics
500
5. Economist Milton Friedman has argued that a business's only responsibility is to a. maximize profits and stay within the rules of the game b. sustain its market share c. promote the welfare of society d. satisfy its employees e. satisfy its customers
What is a. maximize profits and stay within the rules of the game
500
an organization skilled at creating, acquiring, and transferring knowledge and at modifying its behavior to reflect new knowledge and insights
What is a Learning Organization
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