The EFQM Framework Based on the Concept of Excellence in Corporate

question 21

True/False

The EFQM framework based on the concept of excellence in corporate social responsibility refers to excellence as exceeding the maximum regulatory framework in which the organization operates and to strive to understand and respond to the expectations of their stakeholders in society.

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Definitions:

Retained Earnings

Accumulated net income not distributed to shareholders as dividends but retained by the company for reinvestment in its operations or to pay debt.

Mining Tract

A specific piece of land designated for mineral extraction and mining operations.

Depletion

A method used to allocate the cost of extracting natural resources, such as timber, minerals, and oil, from the earth over the period those resources are consumed.