Questions and Answers IB

Questions and Answers
 1.
Select the odd one out from each of the options below:
o A.
Tactical objectives
o B.
Operational objectives
o C.
Strategic objectives
o D.
Secondary objectives

 2.
o A.
Growth
o B.
Sales maximisation
o C.
Survival
o D.
Acquisition

 3.
o A.
To control
o B.
To select
o C.
To direct
o D.
To motivate

 4.
o A.
To improve quality of customer service
o B.
To become the world's market leader
o C.
To reduce absenteeism and labour turnover
o D.
To improve productive efficiency

 5.
If a business behaves ethically, its profits will fall in the short run:
o A.
True
o B.
False

 6.
A business that adopts an ethical approach will tend to improve its profits in the long run.
o A.
True
o B.
False

 7.
Strategic objectives refer to the general organisational objectives of a business that
encompass its long-term goals.
o A.
True
o B.
False

 8.
A business that has an ethical policy in the workplace is said to have an ethical stance.
o A.
True
o B.
False

 9.
The amount of recycling a firm undertakes is likely to be reported in the firm's social audit.
o A.
True
o B.
False

 10.
All businesses in the private sector aim to make a profit whereas those operating in the
public sector aim primarily to provide a service to the general public.
o A.
True
o B.
False

 11.
For most businesses, the objectives of shareholders are more important than those of other
stakeholders.
o A.
True
o B.
False

 12.
Being socially responsible is the same as being environmentally responsible.
o A.
True
o B.
False

 13.
Ethical corporate responsibility considers the welfare of the workforce.
o A.
True
o B.
False

 14.
The overall purpose of an organization can often be seen from its mission statement.
o A.
True
o B.
False

 15.
The declaration of the future identity of a business is known as its:
o A.
Business objectives
o B.
Corporate identity
o C.
Mission statement
o D.
Vision statement

 16.
What is the concept used to describe what an organization is in business for and what it
intends to achieve?
o A.
Business plan
o B.
Business objectives
o C.
Mission statement
o D.
Vision statement

 17.
Objectives are:
o A.
What a business wants to achieve
o B.
The purpose for a firm's existence
o C.
Qualitative statements of a firm's direction
o D.
The major goals of an organisation

 18.
Possible objectives of public sector organizations are least likely to include:
o A.
To provide a service to the community
o B.
To survive
o C.
To break even as soon as possible
o D.
To maximise levels of profits

 19.
Advantages of setting ethical objectives do not include:
o A.
Avoiding bad publicity
o B.
An obligation to provide shareholder dividends
o C.
A possible unique selling point of the firm
o D.
Impact on staff morale

 20.
Businesses do not always consider acting in an ethical way. Which of the following does not
explain why this may be the case?
o A.
Ethical objectives can conflict with profit objectives
o B.
There may not be any government constraints
o C.
Compliance costs are low
o D.
Ethics might not be important to the firm

 21.
A social audit does not include the firm's:
o A.
Financial performance
o B.
Use of recycled materials
o C.
Treatment of the workforce
o D.
Waste disposal processes

 22.
Which of the following is not an example of ethical policies adopted by a business?
o A.
Fringe benefits offered to all members of staff
o B.
Sponsoring charity events in the community
o C.
Fair trade terms with business in less economically developed countries
o D.
The safe disposal of waste materials

 23.
Many businesses strive to be the market leader. Which of the following methods is least
likely to achieve this objective?
o A.
Maintain customer satisfaction
o B.
Competitive prices
o C.
Maintain product quality
o D.
Have high labor turnover

 24.
A code of practice is not likely to include details concerning:
o A.
Social responsibilities
o B.
Expectations of employees in the workplace
o C.
Ethical marketing
o D.
Statutory employment rights

 25.
Objectives do not include:
o A.
Provide a focus for the workforce
o B.
Help to assess the performance of a business
o C.
Suggest how goals should be achieved
o D.
Inform strategic planning

Questions and Answers IB

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Questions and Answers

To improve quality of customer service

To become the world's market leader

To reduce absenteeism and labour turnover

To improve productive efficiency

What a business wants to achieve

The purpose for a firm's existence

Qualitative statements of a firm's direction

The major goals of an organisation

To provide a service to the community

To break even as soon as possible

Avoiding bad publicity

An obligation to provide shareholder dividends

A possible unique selling point of the firm

Impact on staff morale

Ethical objectives can conflict with profit objectives

There may not be any government constraints

Compliance costs are low

Ethics might not be important to the firm

Use of recycled materials

Treatment of the workforce

Waste disposal processes

Fringe benefits offered to all members of staff

Sponsoring charity events in the community

Fair trade terms with business in less economically developed countries

The safe disposal of waste materials

Maintain customer satisfaction

Maintain product quality

Have high labor turnover

Expectations of employees in the workplace

Statutory employment rights

Provide a focus for the workforce

Help to assess the performance of a business

Suggest how goals should be achieved

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