exam 2

Question 1

Vision:

Answer 1

Future-focused statement outlining what an organization aims to achieve.

Question 2

Mission:

Answer 2

Core purpose and values statement defining why an organization exists

Question 3

Objective**:

Answer 3

Specific, measurable goals set to accomplish the mission.

Question 4

Strategy:

Answer 4

Comprehensive plan for achieving long-term goals.

Question 5

Tactic**:

Answer 5

Specific actions to implement a strategy and achieve short-term objectives

Question 6

Corporate Social Responsibility (CSR):

Answer 6

Commitment to ethical practices and consideration of impact on stakeholders and the environment.

Question 7

Stakeholders:

Answer 7

Individuals or groups with an interest in the organization.

Question 8

Internal Stakeholders:

Answer 8

Individuals/groups within the organization.

Question 9

External Stakeholders:

Answer 9

Individuals/groups outside the organization.

Question 10

Shareholders: Owners of shares in the company.

Answer 10

Owners of shares in the company.

Question 11

Economies of Scale:

Answer 11

Cost advantages from increased production.

Question 12

Diseconomies of Scale

Answer 12

: Increased costs per unit with expanded production.