A Company's Value Statement and Code of Ethics

question 74

Multiple Choice

A company's value statement and code of ethics

• A)help to mold the culture and communicate what kinds of actions and behaviors are expected of all company personnel.
• B)help prevent it from coming across to customers and the general public as greedy.
• C)serve the valuable purpose of making its suppliers hesitant to engage in business practices that are unethical.
• D)are the most important factors determining its reputation with customers, suppliers, employees, shareholders, and society at large.
• E)should always be made a prominent and visible part of the company's strategic intent and strategy.

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Definitions:

Output

The sum of all products or services generated by a company, sector, or economic system in a specified timeframe.

Zero Revenues

A situation where a business or organization does not generate any income from its activities or operations.

Profit-Maximizing Monopolist

A monopolist's strategy of setting a price and production level where marginal cost equals marginal revenue to achieve the highest possible profit.

Price-Elastic

A characteristic of goods or services for which demand significantly changes with small changes in price.