2.01 FP2 - Importance of Corporate Governance

What is one of the benefits of efficient processes in corporate governance?

• Increased errors

• Decreased visibility of errors

• Repeatability and consistency of tasks

• Higher costs

How does corporate governance contribute to reduced costs?

• By increasing waste

• If everyone is confused about the process

• By eliminating waste which can cost money

• Through less efficient processes

What is a benefit of having visibility of errors in corporate governance?

• It makes errors more frequent

• It hides errors effectively

• It allows errors to persist longer

• It quickly shows anything out of normal

What does smoother-running operations in corporate governance ensure?

• Increased misunderstandings

• Everyone knows what is expected

• More complicated processes

• Higher operational costs

What is a characteristic of well-run businesses according to the learning material?

• They prioritize profits over employee well-being.

• They put employees at ease.

• They have high employee turnover.

• They discourage teamwork.

What is expected of leadership in the context of the learning material?

• Leadership should have unclear expectations and consequences.

• Leadership should apply expectations and consequences unevenly.

• Leadership should all know expectations and consequences and apply them evenly.

• Leadership should focus solely on employee happiness.

According to the learning material, what is the effect of employee happiness on productivity?

• It has no impact on productivity.

• It leads to a decrease in productivity.

• It causes inconsistency in productivity.

• It tends to increase productivity.

Which of the following is NOT a factor mentioned in the image that contributes to a company's reputation?

• Good products

• Good business performance

• Good safety ratings

• Innovative marketing strategies

Which issues are addressed through good corporate governance to help a business remain financially sound?

• Marketing Issues

• Safety Issues

• Customer Service Issues

• Environmental Issues

Aside from safety, what other type of issue is addressed through good corporate governance to maintain financial sustainability in a business?

• Ethical Issues

• Legal Issues

• Communication Issues

• Quality Control Issues