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Unit 5: Strategy, Ethics, and Global Management

Study guide for CLEP CLEP Principles of Management — Unit 5: Strategy, Ethics, and Global Management. Practice questions, key concepts, and exam tips.

45

Practice Questions

0

Flashcards

6

Key Topics

Key Concepts to Study

Porter's five forces
competitive advantage
corporate social responsibility
ethical decision-making
stakeholder theory
global expansion strategies

Sample Practice Questions

Try these 5 questions from this unit. Sign up for full access to all 45.

Q1MEDIUM

A business's long-term strategy involves

A) Quarterly earnings reports
B) Annual budgeting
C) Setting ethical standards
D) Competitor market research
E) Daily operational tasks
Show Answer

Answer: C — Setting ethical standards is correct because setting ethical standards is part of strategic planning. Quarterly earnings reports focus on short-term performance.

Q2EASY

What is a key principle of strategic ethics?

A) Prioritizing profits over social responsibility
B) Balancing financial goals with social and environmental concerns
C) Ignoring stakeholder interests for competitive advantage
D) Focusing solely on shareholder value
E) Disregarding legal requirements for business growth
Show Answer

Answer: B — Balancing financial goals with social and environm... is correct because it reflects a balance between financial and social goals..

Q3EASY

What guides a company's actions?

A) Code of ethics
B) Mission statement
C) Organizational chart
D) Job descriptions
E) Budget reports
Show Answer

Answer: A — Code of ethics is correct because a code of ethics guides a company's actions. Mission statements, while important, do not directly guide actions.

Q4EASY

A manager's role in strategic ethics involves

A) Integrating ethical considerations into decision-making
B) Ignoring ethical concerns for the sake of profit
C) Focusing solely on legal compliance
D) Prioritizing personal interests over organizational goals
E) Disregarding stakeholder interests and social responsibility
Show Answer

Answer: A — Integrating ethical considerations into decision-making is correct because it involves integrating ethics into decision-making..

Q5EASY

What is the primary goal of a company's sustainability strategy?

A) Increase short-term profits
B) Reduce environmental impact
C) Improve product quality
D) Expand into new markets
E) Decrease employee salaries
Show Answer

Answer: B — Reduce environmental impact is correct because reducing environmental impact is a key aspect of sustainability. Increasing short-term profits may not align with long-term sustainability.

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Study Tips for Unit 5: Strategy, Ethics, and Global Management

  • Focus on understanding concepts, not memorizing facts — CLEP tests application
  • Practice with timed questions to build exam-day speed
  • Review explanations for wrong answers — they reveal common misconceptions
  • Use flashcards for key terms, practice questions for deeper understanding

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