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IBDP Business Unit 1.3 Key Terms

Total questions: 11

Worksheet time: 4mins

Name
Class
Date
1.

The conscientious consideration of ethical and environmental practice related to business activity. A business that adopts CSR acts morally towards all of its various stakeholder groups and the wellbeing of society as a whole.

a)

Corporate Social Responsibility

b)

Corporate Wellbeing

c)

Corporate Stakeholder Responsibility

d)

Corporate Ethics

2.

The documented beliefs and philosophies of an organisation, so that people know what is considered acceptable or not acceptable within the organisation.

a)

Ethics handbook

b)

Ethical code of practice

c)

Ethical mission

d)

Ethical vision

3.

Organisational goals based on moral guidelines, determined by the business and/or society, which direct and determine decision-making.

a)

Ethical code of practice

b)

Ethical guidelines

c)

Ethical objectives

d)

Ethics

4.

The moral principles that guide decision-making and business strategy. Morals are concerned with what is considered to be right or wrong, from society's point of view.

a)

Ethics

b)

Morals

c)

Mission

d)

Vision

5.

A (a)   statement refers to the declaration of an organisation's overall purpose. It forms the foundation for setting the objectives of a business.

6.

What an organisation strives to achieve. They are the goals of an organisation, such as growth, profit, protecting shareholder value and ethical objectives.

a)

Ideas

b)

Goals

c)

Objectives

d)

Strategies

7.

The longer-term goals of a business, such as profit maximization, growth, market standing and increased market share.

a)

Mission

b)

Vision

c)

Objectives

d)

Strategic objectives

8.

The various plans of action that businesses use to achieve their targets. They are the long-term plans of the organisation as a whole.

a)

Tactics

b)

Strategies

c)

Goals

d)

Objectives

9.

Short-term goals that affect a unit of the organisation. They are specific goals that guide the daily functioning of certain departments or operations.

a)

Tactical objectives

b)

Strategic objectives

c)

Ethics

d)

Objectives

10.

Short-term plans of action that businesses use to achieve their objectives.

a)

Goals

b)

Tactics

c)

Strategies

d)

Ethics

11.

A (a)   statement is an organisation's long-term aspirations, i.e. where the business ultimately wants to be.