Good Governance Quiz 1 (Part 2)

Question 1

is defined a plan of action taken to achieve objective.

Answer 1

Strategy

Question 2

the process of strategy involves three steps:

Answer 2

1. Formulation
2. Implementation
3. Evaluation

Question 3

it is a process of creating a competitive advantage over its competitors and sustaining this advantage in the long term.

Answer 3

Strategic Management

Question 4

this is initially performed by creating and/or clarifying your business vision/mission and identifying goals/objectives

Answer 4

Establish Goals

Question 5

what the company envisions itself to be in the future or to become (Future Goals)

Answer 5

Vision

Question 6

describes what the company is all about, who they are, what and how they do things, and for whom

Answer 6

Mission

Question 7

Desired Outcome of planning

Answer 7

Goals

Question 8

Aimed Targets

Answer 8

Objectives

Question 9

Perform a through analysis and assessment of internal and external environment of the company

Answer 9

Scan Environment

Question 10

Develops top-level strategies that can be tricked down to the rest of the organization

Answer 10

Formulation

Question 11

Executes developed plan by providing detailed objectives and action plans

Answer 11

Implementation

Question 12

Measures and assesses results, and recommends changes for improvement if necessary

Answer 12

Evaluation

Question 13

are individuals or groups of people who can be affected by the activities engaged in by corporations in achieving their goals.

Answer 13

Stakeholders

Question 14

states that companies are responsible for
generating reasonable profits for their shareholders but should also be responsible for their stakeholders well-being.

Answer 14

Stakeholder Theory

Question 15

starts within an organization when it embeds and
aligns its CSR initiatives as part of the company’s overall strategy.

Answer 15

Strategic CSR

Question 16

This simply means that a company’s objectives, strategies and core values take into consideration the impact its operations have on the stakeholders.

Answer 16

Strategic CSR

Question 17

has always been a cornerstone of effective
organizations. Numerous studies have supported the role of “________” in organizational outcomes, including CSR.

Answer 17

Leadership

Question 18

Companies pave the way for employees to engage in the programs voluntarily and some companies even give incentives to employees who participate in these activities.

Answer 18

Employee Engagement

Question 19

CSR is not and cannot be operated and implemented in a vacuum. It will take cooperation from various institutions to make it work effectively and efficiently.

Answer 19

Collaboration

Question 20

stated that it would have an immediate effect on
strengthening buy-in within the company and encourage participants to perform better. Furthermore, informing the various stakeholders in these success stories, no matter how small, will increase public trust and legitimacy

Answer 20

Communication

Question 21

The ultimate goal of business is to create sustainable value for its stakeholders. Companies, now more than ever, must be aware of how they operate in today’s volatile and uncertain environment and how they eventually affect our daily lives.

Answer 21

Value Creation