Question 1

The primary stakeholders are:

Accepted Answer

C

Question 2

The goal of corporate governance and business ethics education is to:

Accepted Answer

C

Question 3

The corporate governance structure of a company reflects the individual companies':

Accepted Answer

The corporate governance structure of a company is influenced by a combination of factors, including the cultural, economic, legal, business, social, and regulatory systems of the environment in which it operates.

Question 4

The internal audit function is least effective when the department:

Accepted Answer

The internal audit function is least effective when it is non-independent because independence is crucial for auditors to perform their duties without bias or influence from the management of the organization they are auditing. Competence, objectivity, and integrity enhance the effectiveness of the internal audit function.

Question 5

Under the _____________, both internal and external corporate governance mechanisms are intended to induce managerial actions that maximize profit and shareholder value.

Accepted Answer

Shareholder theory suggests that the primary goal of a corporation is to maximize shareholder value, and that both internal and external corporate governance mechanisms are designed to ensure that managers act in the best interests of shareholders.

Question 6

One of the objectives of the Sarbanes-Oxley Act was to:

Accepted Answer

The Sarbanes-Oxley Act was enacted in response to a series of high-profile financial scandals to improve the accuracy and reliability of corporate disclosures and protect investors by improving the quality and transparency of financial reporting.

Question 7

An organization's appropriate tone at the top promoting ethical conduct is an example of:

Accepted Answer

The tone at the top refers to the ethical climate and culture set by an organization's leadership, which promotes ethical behavior throughout the organization.

Question 8

An independent director is one who:

Accepted Answer

An independent director is defined as a board member who does not have any other relationships with the company, financial or otherwise, that could interfere with the director's ability to act in the best interests of the company, other than his or her directorship. This ensures their decisions are unbiased and in the best interest of the shareholders.

Question 9

The chairperson of the board of directors and CEO should be leaders with:

Accepted Answer

The chairperson of the board of directors and CEO should embody all of these qualities: vision and problem-solving skills, the ability to motivate, and business acumen, as these are essential for effective leadership and management.

Question 10

Customer Relationship Management is about

Accepted Answer

Customer Relationship Management (CRM) encompasses all of these aspects: acquiring the right customer, instituting the best processes for customer interaction and management, and motivating employees to ensure they provide the best possible service to maintain and enhance customer relationships.

Question 11

CRM technology can help in

Accepted Answer

CRM technology can assist in designing direct marketing efforts by analyzing customer data, help in developing new pricing models by understanding customer behavior, and improve transaction processing speed by streamlining customer interactions.

Question 12

_______uses sophisticated mathematical and statistical techniques such as neutral networking and cluster analysis.

Accepted Answer

Data mining involves using sophisticated mathematical and statistical techniques, including neural networks (not neutral networking) and cluster analysis, to discover patterns and relationships in large datasets.

Question 13

The main drawback of CRM is

Accepted Answer

All of the options listed are recognized drawbacks or challenges associated with implementing Customer Relationship Management (CRM) systems. Successful CRM requires a strategic approach, organizational alignment, and a focus on genuinely engaging customers rather than overwhelming them with unwanted attention.

Question 14

The marketing messages committed to customers wishes is a part of

Accepted Answer

Permission marketing involves sending marketing messages to consumers who have explicitly agreed to receive them, often tailored to their interests and wishes, making it a customer-centric approach.

Question 15

The method used to assess real cost of providing services to an individual customer is

Accepted Answer

Activity-based accounting (Activity-based costing) is the method used to assess the real cost of providing services to an individual customer by tracing expenses directly to the activities that drive those costs.

Question 16

_______is any occasion on which the brand or product is used by end customers.

Accepted Answer

A Customer touch point refers to any interaction or point of contact between a brand and its customers, including the moments when the product is used by the end customers.

Question 17

A consumer buying behavior is influenced by

Accepted Answer

Consumer buying behavior is influenced by a combination of cultural, social, and personal factors. Cultural factors include culture, subculture, and social class. Social factors encompass reference groups, family, and roles and statuses. Personal factors cover aspects such as age, occupation, lifestyle, personality, and self-concept.

Question 18

________ exerts the broadest and deepest influence on buying behavior.

Accepted Answer

Cultural factors exert the broadest and deepest influence on buying behavior because they encompass the values, perceptions, preferences, and behaviors learned by individuals from their society from a young age, shaping their basic worldview and consumption patterns.

Question 19

Indian marketers use a term called socioeconomic classification, which is based on the _______ of chief wage earner.

Accepted Answer

Socioeconomic classification in India is based on both the education and occupation of the chief wage earner in a household. This classification helps marketers in segmenting the market and targeting consumers more effectively.

Question 20

Socioeconomic system classifies urban households into _____ broad categories.

Accepted Answer

The answer of Socioeconomic system classifies urban households into _____...

Quiz 1: Corporate Governance, Business Ethics, and Customer Relationship Management: Key Concepts and Issues