QUESTION 15

An organization's vision is a broad, comprehensive picture of what the organizational leader wants the organization to become. True False

2 points

QUESTION 16

_________________ can be defined as the rules and priciples that define right and wrong decisions and behavior.

2 points

QUESTION 17

In addition to expanding the role of board members, the Sarbanes-Oxley Act of 2002 also called for more dosclosure and transparency of

		financial information.
		the corporate vision.
		the corporate mission.
		the balanced scorecard.

2 points

QUESTION 18

Choose all of the following that are typical board responsibilities: (Choose ALL that apply.)

		Review and approve capital allocations and expenditures
		Review and approve strategic goals and plans
		Approve an organizational philosophy
		Develop management succession plans

2 points

QUESTION 19

According to the resource-based view of competitive advantage, a firm's resources are most important for obtaining and keeping a competitive advantage. True False

2 points

QUESTION 20

E-commerce is essentially the sales and marketing component of e-business. True False

2 points

QUESTION 21

Choose all of the following that are characteristics of a unique organizational resource: (Choose ALL that apply.)

		adds value
		hard to imitate or duplicate
		rare
		can be exploited

2 points

QUESTION 22

Innovation is defined as turning a creative idea into a product or process that can be used or sold. True False

2 points

QUESTION 23

_______________ is defined as any alteration in external environmental factors or internal organizational arrangements.

2 points

QUESTION 24

It is the responsibility of the corporation to deal with its employees, customers, suppliers, and other constituencies in a fair and equitable manner. True False

2 points

QUESTION 25

Corporate social responsibility (CSR) is the obligation of organizational decision-makers to make decisions and act in ways that recognize the interrelatedness of business and society. True False

2 points

QUESTION 26

Choose ALL of the following that are critical success factors: (Choose ALL that apply).

		being a world-class organization
		None of these answer choices are correct
		ability to embrace change
		creativity and innovation capabilities

2 points

QUESTION 27

It is a guiding principle of corporate governance that it is the responsibility of the corporation to deal with its employees, customers, suppliers, and other constituencies in a fair and equitable manner. True False

2 points

QUESTION 28

Competitive advantage is obtained by possessing unique organizational assets or capabilities, according to the Resource-Based view on competitive advantage. True False

2 points

QUESTION 29

Strategic leadership is the ability to anticipate, envision, maintain flexibility, think strategically, and work with others in the organization to initiate changes that will create a viable and valuable future for the organization. True False