ITPEC IP October 2018 Question 66
ITPEC IP October 2018 — Question 66 of 100
Corporate philosophy expresses the fundamental ideas, values, and reason for the company's existence that guide business activity. It provides a durable basis for decisions, conduct, relationships with stakeholders, and the direction in which the organization operates.
Answer (a)
Why not others:
- people, money, materials, and information are management resources
- long-, medium-, and short-term decision plans are corporate strategies or plans
- characteristics developed through shared practice describe corporate culture
Key rule: Philosophy states the organization's foundational purpose and values; strategy defines plans, resources enable action, and culture reflects established behavior.
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