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?
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?
3. Which law revised and strengthened auditing and account standards?
4. Which of these is true about Sarbanes-Oxley Act of 2002?
5. A major consequence of the Sarbanes-Oxley Act of 2002 has been the
6. The most critical quality of ethical decision making is
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?
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?
9. A broadly framed but enduring statement of a firm’s intent is defined as the company
10. This statement of a company’s philosophy usually appears within the mission statement and specifies basic beliefs of a firm.
11. This statement presents the firm’s strategic intent that focuses the energies and resources of the company on achieving a desirable future.
12. The strategic decision makers in the firm are responsible for
13. The idea that businesses have a duty to serve society as well as the financial interest of stockholders is called
14. Which of the following strategic decision makers implement the overall strategy?
15. Which level of strategy uses a portfolio approach?
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?
17. The behavioral consequences of strategic management are similar to those of
18. What do strategic managers call a flow of information through interrelated stages of analysis toward the achievement of an aim?
(18/18 Correct Answer)