1.2 Partial / Human Capital

1) A vision statement tends to be narrow and specific.

• a) True

• b) False

2) An organization’s moral duties to its internal and external stakeholders in acting as a good corporate entity is known as corporate social responsibility (CSR).

• a) True

• b) False

3) Reducing pollution and environmental damage by using non-fossil fuels is an example of an ethical objective set by a business.

• a) True

• b) False

4) An organization’s mission and vision statements serve to guide its strategic goals and corporate strategies.

• a) True

• b) False

5) Growth, as a business objective, refers to an increase in the size of an organization and its operations.

• a) True

• b) False

6) The short to medium-term objectives set by middle managers to achieve a specific part of the overall strategy are called tactical objectives.

• a) True

• b) False

7) Strategic objectives refer to the long-term goals that the whole organization continually strives to achieve.

• a) True

• b) False

8) Creating a positive corporate image is a valid reason for a business to pursue ethical objectives.

• a) True

• b) False

9) The formal documented philosophies and values of a business, so that stakeholders know what is considered acceptable or not acceptable within the organization is an ethical code of practice.

• a) True

• b) False

10) A succinct and motivating declaration of an organization’s purpose of existence, who they are, and what they do is an objective statement.

• a) True

• b) False