STR 581 Week One Knowledge Check (100% CORRECT...........

STR 581 Week One 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?

Leverage core capabilities.

Weigh government influence.

Assemble and value the total package of benefits.

Identify a long-term durable mission.

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

Company creed

Company sponsor 

Company slogan

Company commercial

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

 the super growth in accounting firms in the U.S. 

political fallout in congress 

outsourcing of jobs in lower wage countries 

reorganizing of the governance structure of American corporations

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

Functional managers

Business managers

Board of directors 

Corporate managers

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

corporate services

corporate social responsibility

corporate audit

going green

6.Which level of strategy uses a portfolio approach?

Corporate

Business

Functional

Operational

7.The most critical quality of ethical decision making is

Consistency

Expeditions

Objectivity

Economics

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

Business ethics approach

Social justice approach

Utilitarian approach

Moral rights approach

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

Moral rights approach

Utilitarian approach

Business ethics approach

Social justice approach

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

 authoritative decision making

autocratic decision making

centralized decision making 

participative decision making

11.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

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

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

The directors and executive officers are required to trade the company's 401(k) plan, profits haring plan and retirement plan during the blackout period

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.

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

              Slogan

              Mission

              Vision

               Credo

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

Rewards

the firm’s accounting practices

               daily operations

              the firm’s mission

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

Truth in Lending Act of 1968

Sarbanes-Oxley Act of 2002

Federal Fair Trade Act of 1986 

National Environmental Policy Act of 1969

16. 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

Society

Stockholders

Employees

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

Continuous improvement

Process

Strategic control

Long-term objective

18.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