unit 1.3 review true-false quiz

An organization can change its business objectives over time due to changes in both the internal and external environments.

• TRUE

• FALSE

A vision statement tends to be narrow and specific.

• TRUE

• FALSE

The statement which sets out an organization’s purpose and its corporate values is known as the vision statement.

• TRUE

• FALSE

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).

• TRUE

• FALSE

The statement which sets out an organization’s long-term aspirations is known as the vision statement.

• TRUE

• FALSE

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

• TRUE

• FALSE

Fairer trade with low-income countries is an example of an ethical objective set by a business.

• TRUE

• FALSE

A vision statement gives a clear timeframe for when future goals will be achieved.

• TRUE

• FALSE

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

• TRUE

• FALSE

Avoiding the risk of legal compensation (redress) is a valid reason for a business to set ethical objectives.

• TRUE

• FALSE