BOH4M Unit 1- Foundations of Management_MR_T

Flashcard
•
Business
•
12th Grade
•
Hard

Abdul Tejan
FREE Resource
Student preview

37 questions
Show all answers
1.
FLASHCARD QUESTION
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.
2.
FLASHCARD QUESTION
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.
3.
FLASHCARD QUESTION
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.
4.
FLASHCARD QUESTION
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.
5.
FLASHCARD QUESTION
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.
6.
FLASHCARD QUESTION
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.
7.
FLASHCARD QUESTION
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.
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