Deck 5: Strategic F Anagen1ent and Corpor3te Public Policy

Question 1

Regarding the four key strategy levels,decisions involving great uncertainty tend to be made at the lower levels.

Answer 1

False

Question 2

To be most effective,a social audit should be isolated from other aspects of the strategic management process.

Answer 2

False

Question 3

The public affairs function is an increasing component of the overall strategic management process.

Answer 3

True

Question 4

One of the reasons that public affairs departments have seen extensive growth over the past three decades is because they have been able to easily measure and document their results.

Question 5

The steps of the strategic management process are most effective if done sequentially in the order specified in the textbook.

Question 6

Public affairs evolved from public relations.

Question 7

Social audits can be thought of as a planning and control system.

Question 8

For the public affairs function to be effective in representing issues affecting business decision making,they should have influence at the middle management level.

Question 9

Social auditing is very new.

Question 10

Enterprise-level strategy and societal-level strategy are synonymous.

Question 11

Corporate public policy takes place primarily at the corporate level of strategy.

Question 12

Corporate public policy is a firm's posture or position regarding the public,social,global,and ethical aspects of stakeholders and corporate functioning.

Question 13

Public affairs management focuses on the formalization and institutionalization of corporate public policy.

Question 14

Because public affairs management often appears nebulous and inconclusive,PA managers must make dealing with these issues easier for managers in other departments.

Question 15

Some management scholars believe that the successful firms of the future will be those that can meet stakeholders' social expectations and investment advisors' frnancial expectations.

Question 16

A social audit is a systematic attempt to identify,measure,monitor,and evaluate an organization's performance with respect to its social efforts,goals,and programs.

Question 17

There is a growing consensus that ethics should be a central component of strategic management.

Question 18

The Global Reporting Initiative (GRI)is attempting to overcome one of the major obstacles to the advance of effective social auditing by providing standardized measures for social reporting.

Question 19

The social audit can be an effective component of a firm's strategic control system.

Question 20

Social performance reporting should be isolated from other forms of assessment and reporting.

Question 21

The overarching strategy level that asks what role the firm plays in society and what the firm stands for is the level.

A)enterprise
B)corporate
C)business
D)functional

Question 22

The enterprise-level strategy may addresses the firm's

A)Obligations to stockholders.
B)Role in society.
C)hnplications of cohesion.
D)Competition strategy.

Question 23

All of the following are used to describe social performance reports except

A)CSR reports
B)Corporate citizenship reports
C)Social audits
D)Sustainability reports

Question 24

All of the following represent examples of enterprise-level thinking except

A)how a finn responds to a public crisis.
B)the extent to which a finn attempts to identify social issues,analyze them,and integrate them into its strategic management process.
C)the extent to which a firm has established board or senior management committees to grapple with social ISSUeS.
D)the extent to which a frrrn has studied its functional structure and made changes necessary to make its operations more efficient.

Question 25

The concept of enterprise-level strategy is the idea that best links

A)ethics to performance.
B)strategy to performance.
C)public policy to performance.
D)ethics to strategy.

Question 26

Which of the steps in the strategic management process informs all the rest?

A)goal formulation
B)strategy formulation
C)strategic control
D)envirornnental analysis

Question 27

Which of the following is not one of the levels of strategy mentioned in the textbook?

A)enterprise-level
B)department-level
C)corporate-level
D)functional-level

Question 28

The impetus of social performance reports has come from

A)Societal and public interest groups expectations
B)Financial investment advisors
C)Marketing frrms
D)Domestic companies

Question 29

level strategy seeks to determine how a firm should compete in a given industry.

A)Enterprise
B)Corporate
C)Business
D)Functional

Question 30

A systematic attempt to identify,measure,monitor,and evaluate a finn's performance with respect to its social efforts,goals,and programs is a(n)

A)Triple Bottom Line audit.
B)envirornnental audit.
C)social audit.
D)social impact statement.

Question 31

level strategy attempts to integrate the finn's activities to accomplish its goals.

A)Enterprise
B)Corporate
C)Business
D)Functional

Question 32

The strategy level that asks what business the firm should be in is the level.

A)enterprise
B)corporate
C)business
D)functional

Question 33

Which of the following is not one of the steps in the strategic management process?

A)goal formulation
B)strategy implementation
C)problem identification
D)envirornnental analysis

Question 34

The deeply ingrained principles that guide all of a company's actions and decisions are the frrrn's

A)vision statements.
B)guiding lights.
C)core values.
D)mission statements.

Question 35

A social audit can be thought of as

A)the first step in planning
B)a narrow list of activities
C)planning and control system
D)a brief experimentation

Question 36

Corporate-level strategy decisions include all of the following except

A)mergers
B)acquisitions
C)divestitures
D)broad or narrow markets

Question 37

Which of the following terms does not have the same basic meaning?

A)cotporate public policy
B)cotporate social policy
C)cotporate social performance
D)cotporate citizenship

Question 38

Management control includes all of the following steps except

A)setting standards.
B)revising budgets.
C)comparing actual performance to standards.
D)taking corrective action.

Question 39

The main idea behind cotporate public policy is that

A)a firm must give specific attention to issues in which basic questions of right,wrong,justice,fairness,or public policy reside.
B)a firm must look out for its own best interests.
C)a firm should have a say in setting the political direction of the country.
D)a firm should be able to influence public policy when it can.

Question 40

Which of the following terms does not refer to the same thing?

A)social audit
B)social performance report
C)social accounting
D)social impact statement

Question 41

Public Affairs activities and functions include all of these EXCEPT:

A)community relations
B)public relations
C)public advertising
D)government affairs

Question 42

Three broad ways corporations intersect with society include each of the following except:

A)generic social issues
B)value chain social impacts
C)strategic social integration
D)social dimensions of competitive context

Question 43

Public affairs management encompasses all of the following processes except

A)envirornnental analysis.
B)issues management.
C)crisis management.
D)political lobbying.

Question 44

The growth of Public Affairs in the U.S.has grown for all of these reasons EXCEPT:

A)the growing magnitude and impact of government
B)the static nature of the political system
C)the growing recognition by business that it was being outflanked
D)the need to be more active in politics

Question 45

Which of the following did not contribute to the development of the public affairs function?

A)community relations
B)lobbying
C)public relations
D)marketing

Question 46

Value-based enterprises:

A)avoid entanglement with stakeholders
B)actively seek out stakeholders and work cooperatively with them
C)publish a mission statement of their core values
D)do not engage in public affairs

Question 47

Issues management and crisis management are processes in corporate public policy.

A)planning
B)evaluative
C)defensive
D)offensive

Question 48

Which of the following activities is a major function in corporate public affairs?

A)goverrnnent relations
B)issues management
C)public relations
D)consumer affairs

Question 49

The chief public affairs officer of the fmu should likely be:

A)the Director of Public Relations
B)the Director of Public Affairs
C)the CEO
D)the Director of Community Relations

Question 50

Planning for the turbulent sociaVethical stakeholder envirornnent encompasses each of the following EXCEPT

A)strategic management process
B)strategic affairs analysis
C)envirornnental analysis
D)public affairs management

Question 51

In the future,the public affairs function:

A)will wane in popularity
B)will become a lightuing rod
C)will become a bridge between strategic management and corporate social performance
D)None of these choices is correct.

Question 52

Public relations deals with government

A)as one of many publics.
B)as its exclusive focus.
C)primarily through lobbying efforts.
D)primarily through campaign contributions.

Question 53

A 2012 study showed that public affairs' relationships with senior management were:

A)weak
B)strong
C)developing
D)broken

Question 54

The management function responsible for monitoring and managing the business envirornnent is

A)corporate public affairs.
B)corporate public relations.
C)corporate social responsibility.
D)corporate social responsiveness.

Question 55

One of the major impediments to the advancement of effective sustainability reporting has been:

A)the low regard in which corporations hold sustainability and reporting.
B)the lack of effective sustainability measures corporations may take.
C)the lack of any standardized measures.
D)All of these choices.

Question 56

Ceres is a national network of investors,organizations and other public interest groups working with companies to promote:

A)corporate international strategy
B)sustainability
C)strategic management initiatives
D)public affairs departments

Question 57

Social performance reports help companies

A)By disrupting their communications systems
B)Managing their frnances
C)Isolating their performance
D)With their competitive positions

Question 58

Which of the following is not a reason that the public affairs function grew in stature in the United States?

A)the growing magnitude and impact of goverrnnent
B)the changing nature of the political system
C)increased pressure to meet quarterly earnings projections
D)the increasing influence of competing interests

Question 59

The "product" of the public affairs department is

A)legislation that aids the finn.
B)increased awareness of the company's brand.
C)smooth relationships with external stakeholders.
D)input into public policy decisions.

Question 60

The overall management process that strives to identify corporate purpose and to position a finn relative to its market environment is

A)corporate public affairs
B)collaborative I problem-solving strategy
C)strategic management
D)social performance report

Question 61

Why would a firm elect to perform a social audit,when it is not required? What benefits can accrue from a social audit?

Question 62

Describe what the text means by "sustainable strategic management."

Question 63

What does a sustainability report attempt to measure? What is the benefit of integrated reporting?

Question 64

Describe some of the types of evidence that a finn displays enterprise-level strategic thinking.

Question 65

Assume that you manage the public affairs office for a large American fmancial investment firm.Your company has decided to pay incentive bonuses to individuals for the number and volume of investment exchanges made.Using the knowledge that you have gained so far in this class (i.e. ,from all chapters and discussions),develop a policy on
incentive bonuses for the firm's public affairs office.

Question 66

Explain the relationship of ethics to strategic management.

Question 67

The authors indicate that the key difference between public affairs and public relations is the goals of the client.
What do they mean by the goals of the clients when both have the same goals?

Question 68

Name some issues that businesses encounter daily that involve highly visible public and ethical issues.What happens
to these issues in the long term?

Question 69

Describe how corporate public policy fits into strategic management.

Question 70

According the text,the overriding questions that enterprise-level strategy needs to address is,"What do we stand for?" Why is that question considered so important?

Question 71

In what do value-based companies believe?

Question 72

Name the categories of concerns considered by strategic management.Why should these concerns be part of corporate strategy?

Question 73

Compare the public affairs office of today with its predecessor from twenty years ago.

Question 74

What is a "benefit corporation?" Why do you think such an entity was created?

Question 75

What is a "value shift" and how does it come about?

Question 76

The public affairs function as we know it today was an outgrowth of:

A)the Depression
B)envirornnentallaws.
C)a leading professional trade organization.
D)the social activism begun decades ago.

Question 77

Explain Porter and Kramer's perspective that interdependence between business and society takes two forms.