A Company's Stated Core Values and Ethical Principles Are

question 107

Multiple Choice

A company's stated core values and ethical principles are

• A)important because of their role in ensuring that company executives will not engage in unethical behavior or behave in a manner that is contrary to the company's core values.
• B)typically tightly linked to its strategic vision and strategy.
• C)the best indicators of a company's social responsibility strategy.
• D)meant to foster a work climate where company personnel share common and strongly held convictions about how the company's business is to be conducted and provide guidance in displaying the core values in their actions and behaviors.
• E)strictly enforced in strong culture companies and weakly enforced in weak culture companies.

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Definitions:

Perfect Competition

A market structure characterized by many buyers and sellers, homogenous products, and free entry and exit, leading to efficient outcomes.

Marginal Revenue

The rise in earnings associated with the sale of one more unit of output.

Total Revenue Curve

A graphical representation showing how total revenue changes as the amount of goods sold varies.

Supply Curve

A graph showing the relationship between the price of a good and the quantity supplied, typically upward sloping, indicating that higher prices motivate more supply.