BOH4M Unit 1- Foundations of Management_MR_T

Front

What does CSR stand for?

Back

corporate social responsibility

Answer explanation

CSR stands for corporate social responsibility, which refers to a company's commitment to conducting business ethically and contributing to economic development while improving the quality of life for employees, their families, and the community.

Front

How many sections are in the Triple Bottom Line framework?

Back

3

Answer explanation

The Triple Bottom Line framework incorporates three sections: social, environmental, and economic. Therefore, the correct answer is 3.

Front

What is the most accurate definition of sustainability?

Back

meeting the needs of the present without compromising the ability of future generations to survive

Answer explanation

The most accurate definition of sustainability is "meeting the needs of the present without compromising the ability of future generations to survive." This captures the essence of balancing current and future needs.

Front

What best captures the essence of organizational culture?

Back

The collective behaviors of individuals within an organization

Answer explanation

Organizational culture is best described as the collective behaviors of individuals within an organization, reflecting their values, beliefs, and practices. This choice captures the essence of how team dynamics are formed.

Front

"Our core purpose is to create value for customers to earn their lifetime loyalty." What phrase is this?

Back

a company mission statement.

Answer explanation

The statement reflects the company's core purpose and values, which is characteristic of a company mission statement. It emphasizes creating customer value and loyalty, aligning with the definition of a mission statement.

Front

What does the target of £10 million in European markets in 2017 represent?

Back

a business objective.

Answer explanation

The statement "Anna and Massimo want to achieve sales of £10 million in European markets in 2017" specifies a clear target and timeframe, making it a business objective rather than a broader aim or vision.

Front

A vision statement is about dreaming big for tomorrow and defining what an organization aspires to become in the future.

Back

True

Answer explanation

The statement is true because a vision statement indeed focuses on the future and outlines what an organization aspires to become, guiding its long-term goals and direction.

Front

Does a mission statement focus on the present and what an organization does to achieve its goals?

Back

True

Answer explanation

A mission statement indeed focuses on the present and outlines what an organization does to achieve its goals. Therefore, the statement is true.

Front

What does a mission statement usually include? Options: What we do, Deadlines for when things will be done, Who we serve, How we serve them

Back

Deadlines for when things will be done

Answer explanation

A mission statement typically outlines the organization's purpose, who it serves, and how it serves them. It does not include specific deadlines for when tasks will be completed, making 'Deadlines for when things will be done' the correct choice.

Front

Michael and Emma at Oxford Industries Inc. installed a high-tech computer system that tracks every worker's pace to a thousandth of a second, determining their pay and bonuses based on performance. This approach is an example of __________

Back

Scientific Management

Answer explanation

This is an example of Scientific Management, as it focuses on measuring worker performance with precision to optimize productivity and determine pay based on efficiency.