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STR 581 Week 1 Practice Quiz

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STR 581 Week 1 Practice Quiz

  • 1

Which level of strategy uses a portfolio approach?

Corporate

Business

Operational

Functional

Correct

  • 2

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?

Management

Business

Functional

Corporate

Correct

  • 3

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

Functional managers

Corporate managers

Board of directors

Business managers

Correct

  • 4

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?

Leverage core capabilities.

Identify a long-term durable mission.

Weigh government influence.

Assemble and value the total package of benefits.

Correct

  • 5

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

Company sponsor

Company commercial

Company slogan

Company creed

Correct

  • 6

Which law revised and strengthened auditing and account standards?

Federal Fair Trade Act of 1986

National Environmental Policy Act of 1969

Sarbanes-Oxley Act of 2002

Truth in Lending Act of 1968

Correct

  • 7

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

corporate social responsibility

corporate audit

going green

corporate services

Correct

  • 8

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

Continuous improvement

Process

Long-term objective

Strategic control

Correct

  • 9

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

Correct

  • 10

The behavioral consequences of strategic management are similar to those of

centralized decision making

participative decision making

autocratic decision making

authoritative decision making

Correct

  • 11

The most critical quality of ethical decision making is

economics

expeditions

consistency

objectivity

Correct

  • 12

The strategic decision makers in the firm are responsible for

rewards

the firm’s accounting practices

daily operations

the firm’s mission

Correct

  • 13

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 CEO and CFO must verify every report containing the company’s financial statements.

Companies are required to extend personal loans to executives and directors.

The act requires that the audit committee must be composed entirely of inside officers.

Correct

  • 14

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?

Stockholders

Government

Society

Employees

Incorrect

  • 15

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

Values statement

Company statement

Mission statement

Vision statement

Correct

  • 16

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

reorganizing of the governance structure of American corporations

political fallout in congress

outsourcing of jobs in lower wage countries

super growth in accounting firms in the U.S.

Correct

  • 17

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?

Business ethics approach

Utilitarian approach

Moral rights approach

Social justice approach

Correct

  • 18

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

vision

slogan

mission

credo