5 What is an operating charter? 0 0 0 0 A document that defines interactions and authority across and between groups in an organization or department A legal form that must be filed with the state to register a business A single sentence that helps focus employees on the company's ultimate objective and map out the road to success An often long and flowery description of the company's objectives published for the public to read 6 Operating charters are created at which level of an organization? O O O Each person within an organization creates their own operating charter. The organization as a whole has one operating charter. The management team typically has an operating charter for the executive officers to follow. Each department can create its own operating charter. 7 The combined working mission and operating charter fulfills what purposes? (Select all that apply.) O O O O O Set parameters and define authority for individuals Shape customer perception of the company's values and brands Focus everyone's time, energy, and resources on single-mindedly improving the business Provide a detailed plan for accomplishing business objectives Define expectations for business goals 8 Edward Deming wrote that 94% of problems in most corporations are due to inadequate Systems Human resources Branding Management 9 Which of the following are included in an operating charter? (Select all that apply.) Company values Scope of work Marketing strategies Quantifiable measures of success Primary objectives 10 How is an operating charter different from a business plan? An operating charter is created internally, whereas a business plan is dictated by investors and the board of directors. An operating charter is much longer and more detailed, whereas a business plan should be no more than one page. An operating charter shows the big picture of what you want to accomplish, whereas the business plan is more detailed. An operating charter is typically classified, whereas a business plan is kept in plain sight for all employees to refer to