BSAD 2013 Principles of Management Test Two

The Triple Bottom Line (TBL) framework evaluates an organization's performance based on which three key areas?

• Profit, Productivity, and People

• People, Planet, and Profit

• Policy, Process, and Performance

• Product, Promotion, and Price

Which of the following best describes greenwashing?

• A) A company's genuine effort to reduce its environmental impact

• B) The practice of misleading consumers into believing a company is more environmentally friendly than it actually is

• C) A government regulation that enforces sustainable business practices

• D) The process of converting waste materials into new, eco-friendly products

Which of the following best defines whistleblowing?

• A) A company's strategy to improve employee morale through incentives

• B) The act of reporting unethical or illegal activities within an organization to authorities or the public

• C) A leadership style that encourages open communication among employees

• D) A process where companies self-report their financial performance to stakeholders

Which of the following best describes crowdsourcing?

• A) A company outsourcing tasks to a specialized consulting firm

• B) Collecting ideas, services, or input from a large group of people, typically via the internet

• C) A process where employees vote on major company decisions

• D) A marketing strategy that relies solely on in-house innovation

Which of the following best describes Corporate Social Responsibility (CSR)?

• A) A company's obligation to maximize profits for shareholders

• B) A business approach that considers social, environmental, and ethical impacts in addition to financial performance

• C) A government-mandated program requiring businesses to donate to charity

• D) A marketing strategy focused solely on promoting eco-friendly products

In a SWOT analysis, which of the following represents external factors that can impact a business?

• Strengths and Weaknesses

• Opportunities and Threats

• Strategies and Tactics

• Systems and Operations

Which of the following are common examples of ethical dilemmas in business?

• Employee scheduling conflicts and project deadlines

• Conflicts of interest, discrimination, and fraudulent accounting practices

• Product pricing strategies and market expansion decisions

• Choosing between different marketing channels for a new product

Which of the following best defines competitive advantage?

• A) A company's ability to outperform its competitors by offering unique value to customers

• B) The process of reducing costs by outsourcing business functions

• C) A government policy that protects businesses from competition

• D) The number of employees a company has compared to its competitors

What is a stretch goal in business management?

• A goal that is easily achievable with minimal effort

• A highly ambitious objective that challenges an organization or individual beyond their current capabilities

• A routine task assigned to employees as part of daily operations

• A financial target set by the government for businesses to follow

What does market share refer to in business?

• The percentage of a company's revenue spent on marketing activities

• The portion of total sales in an industry that a company controls

• The number of new customers a company gains each year

• The amount of stock a company owns in its industry