Which of the Following Statements Is CORRECT

question 18

Multiple Choice

Which of the following statements is CORRECT?

• A) Once a firm has defined its purpose,scope,and objectives,it must develop a strategy or strategies for achieving its goals.The statement of corporate strategies sets forth detailed plans rather than broad approaches for achieving a firm's goals.
• B) A firm's corporate purpose states the general philosophy of the business and provides managers with specific operational objectives.
• C) Operating plans provide management with detailed implementation guidance,consistent with the corporate strategy,to help meet the corporate objectives.These operating plans can be developed for any time horizon,but many companies use a 5-year horizon.
• D) A firm's mission statement defines its lines of business and geographic area of operations.
• E) The corporate scope is a condensed version of the entire set of strategic plans.

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Definitions:

Informed Consent

A process by which a fully informed individual voluntarily agrees to participate in a particular activity, after understanding all relevant risks and benefits.

IRB Approval

The authorization granted by an Institutional Review Board (IRB) which confirms a study's research plan is ethical and the rights and welfare of participants are protected.

Incomplete Disclosure

Failure to fully inform research participants about the nature or aims of the study, often to prevent bias or influence on participant behavior.

Minimal Risks

Refers to the probability and magnitude of harm or discomfort anticipated in research that are not greater than those ordinarily encountered in daily life.