Take Test: Quiz – 3ContentAssistive Technology Tips [opens in new window]InstructionsTimed TestMultipleAttemptsForceCompletionThis test has a time limit of 1 hour.You will be notified when time expires, andyou may continue or submit.Warnings appear when half the time, 5 minutes, 1 minute, and 30 secondsremain.Not allowed. This test can only be taken once.This test can be saved and resumed later. The timer will continue to run if youleave the test.Remaining Time:59 minutes, 23 seconds.Question 11.The ISO 9000 Standards Series is one example of…1. tactical control2. strategic control3. output control4. behavior control3 pointsQuestion 21.Because of the belief that accounting based numbers such as ROI, ROE and EPS are notreliable indicators of a corporation’s economic value, which method of coporateperformance is now preferred?1. shareholder value2. basic earning power3. price/earnings ratio4. profit margin3 pointsQuestion 31.Activity-based costing differs from traditional cost accounting in the way it ________.1. allocates direct costs to overhead categories2. tracks allocation decisions3. allocates indirect and fixed costs to individual products4. uses debits and credits3 pointsQuestion 41.Which of the following statements is NOT true of strategy implementation?1. It is the process by which strategies and policies are put into action through thedevelopment of programs, budgets, and procedures.2. Implementation is oftern considered after strategy has been formulated.3. Strategy implementation is the sum total of the activities and choices required forthe execution of a strategic plan.4. Strategy implementation should be kept separate and distinct from strategicmanagement.3 pointsQuestion 51.The continual process of measuring products, services, and practices against the toughestcompetitors or those companies recognized as industry leaders is known as __________.1. benchmarking2. control3. imitation4. industrial espionage3 pointsQuestion 61.A company has adopted a strategy of growth by acquisition and conglomeratediversification. Which executive type should they hire to drive this strategy?1. Cautious profit planner2. Dynamic industry expert3. Turnaround specialist4. Professional liquidator3 pointsQuestion 71.Which of the following is NOT descriptive of a network structure?1. The network organization is a series of independent firms or business units linkedtogether through design, production, and marketing.2. The network structure typically is located in a large, single building (or area) withmany work projects in operation on the site.3. Independent inventors and entertainment compamies often use the networkstructure.4. The network structure provides an organization with increased flexibility andadaptability to compe with rapid technological changes.3 pointsQuestion 81.Which of the following is NOT a benefit of hiring an internal candidate as the firmâs newCEO?1. Insiders are familiar with the firmâs products, markets, technologies, and operatingprocedures.2. Use of the internal labor market reduces turnover among existing employees.3. Internal hiring results in an increased level of innovation.4. Insiders are more familiar with a firmâs operating procedures.3 pointsQuestion 91.When GE appointed Jeff Immelt–a white male and long-time GE executive–to succeedJack Welch–also a white male–as their new CEO, GE was signaling what kind ofstrategy?1. stability2. stability with innovation3. ambiguous change4. strategic change3 pointsQuestion 101.The Balanced Scorecard approach to evaluation and control assigns to eachgoal/objective in an areaone or more measures that are each essential for acheiving adesired strategic option. These measures are called _________.1. critical success factors2. strategic factors3. behavioral measures4. key performance measures3 pointsQuestion 111.Ursula Burns, the new Chairman and CEO of Xerox Corporation wishes to radicallychange the firmâs corporate culture. She knows that she must convince others at Xerox ofthe necessity for the culture change and gain their active support. Ms. Burns knows thatthe key players in energizing the culture change and fostering alignment with the newstrategic vision are ________1. the members of the board of directors.2. top management team members.3. lower level rank-and-file employees.4. the CEO, top managers, and middle managers.3 pointsQuestion 121.When Unilever acquired Ben & Jerry’s in 2000, they inherited a group of employees witha strong culture, which they valued highly. B&J’s employees accepted and respectedUnilever as a world-wide leader in consumer products. What would be the best strategyfor Unilever to manage the culture of B&J’s employees?1. Assimilation2. Integration3. Separation4. Segmentation3 pointsQuestion 131.To successfully implement a firm’s strategy, the best philosophy is to treat employees as1. cost factors to be minimized2. resources to be maximized3. disposable assets4. the first assets to be downsized when things go bad.3 pointsQuestion 141.The process of monitoring activities to ensure that objectives are being accomplished asplanned and corrections made where significant deviations occur is known as__________.1. Benchmarking2. Strategic planning3. Organizing4. Control3 pointsQuestion 151.A person who organizes and manages a business undertaking and who assumes risk forthe sake of a profit is known as a(n) _______.1. risk-taker2. manipulator3. entrepreneur4. maverick3 pointsQuestion 161.The question, "To achieve our vision, how will we sustain our ability to change andimprove?" is answered within which of the four perspectives of the Balanced Scorecard?1. financial2. learning and growth3. internal business processes4. customer3 pointsQuestion 171.It is necessary and advisable to have management from all levels participate in thestrategy process because _______1. it enables the organization to gain insights as to what work needs to be done and togain cooperation during the strategy implementation phase.2. collective bargaining agreements often mandate worker participation.3. it is part of the job responsibilities of managers to provide input regarding theirrespective areas of expertise.4. it is a legal requirement.3 pointsQuestion 181.Return on Investment (ROI) is the most widely used measure of performance in whatresponsibility center?1. Revenue center.2. Expense center.3. Investment center4. Profit center.3 pointsQuestion 191.When is it NOT appropriate for a firm to embark on the Outsourcing Strategy?1. The technology to be outsourced is essential to the firm’s competitive advantageand core competence.2. The supplier has proprietary ownership of the required technology.3. The supplierâs technology is better, cheaper, and easy to integrate.4. To develop the required technology process the firm would require new resources,which it does not currently have.3 pointsQuestion 201.Following the resource-based view of the firm, a company should _________technologies that are commonly available but _________ those that are rare, valuable,inimitable and that have no close substitutes.1. make, license2. license, make3. buy, make4. make, acquire firms producing3 pointsQuestion 211.Which type of innovation is important in achieving cost leadership strategies?1. logistical innovation2. category 1 innovation3. product innnovation4. process innovation3 pointsQuestion 221.The confusion of means with ends that occurs when activities originally intended to helpmanagers attain corporate objectives become ends in themselves, this is called__________.1. Behavior control2. Goal displacement3. Output control4. Short-term orientation3 pointsQuestion 231.Which of the following is NOT descriptive of the matrix structure?1. People from functional units are often assigned on a temporary basis to productunits.2. Although employees often work on one or more product units, they maintain onlyone direct supervisor.3. The matrix structure is very useful when the external environment is veryuncertain.4. The matrix structure can produce conflicts revolving around duties, authority, andresource allocation.3 pointsQuestion 241.The extent to which a society values individual freedom and independence of actioncompared with a tight social framework and loyalty to the group is called _______.1. masculinity-femininity2. individualism-collectivism3. power distance4. uncertainty avoidance3 pointsQuestion 251.AgroPharm is searching for a top-level executive. The firm has marketed its productsonly to U.S. farmers and agribusiness in the past. Now, it plans to expand its operations toMexico and Central America in the next 2 years. To maximize the chances of success it iscritical that the new executive _______.1. be of Hispanic descent2. possess an advanced degree in agricultural sciences3. have international business experience4. have a background in managing agribusiness firms3 pointsQuestion 261.All of the following are changing structural characteristics found in the modernorganization design EXCEPT _______1. horizontal communication.2. centralized top-down decision making.3. autonomous work teams.4. value-chain team-focused job design.3 pointsQuestion 271.A multi-domestic MNC should use what type of controls on its foreign units?1. Management should use a matrix structure allowing some limited autonomy of theforeign unit.2. Management needs to exert tight controls over its many units using a centralizedstrategic operational decision-making format.3. Management should be given considerable latitude, but be required to meet somepredetermined performance targets.4. Management should use a functional approach assigning distinct and separateresponsibilities to each department throughout the MNC.3 pointsQuestion 281.Alfred Chandler, known for his study of large American corporations, concluded that________1. organic structure is best for firms in a changing environment.2. mechanistic structure is best for firms in a changing environment.3. structure follows strategy.4. strategy follows structure.3 pointsQuestion 291.Which one of the following is NOT a part of the evaluation and control process?1. Establish corporate strategies2. Establish standards for performance.3. Measure actual performance.4. Take corrective actions3 pointsQuestion 301.The inventory turnover ratio is an example of a(n)1. steering control.2. activity control.3. behavior control.4. output control.3 pointsQuestion 311.If marketing attains its goals at the expense of significantly raising production costs forthe manufacturing department, the end result of marketing’s acheivements andmanufacturing’s cost increases reflects ________1. behavior substitution.2. resource allocation.3. resource optimization.4. suboptimization.3 pointsQuestion 321.Which type of chief executive officer who is highly knowledgeable in other industriesand can manage diverse product lines would be appropriate for a corporation following adiversification strategy?1. professional liquidator2. analytical portfolio manager3. dynamic industry expert4. turnaround specialist3 pointsQuestion 331.When they experienced hard economic times, the executives of Zontech, Inc., decided torestructure the conglomerate of 11 SBUs by selling-off their three least profitable SBUsand left the rest intact. They were following the strategy of _____.1. Downsizing2. Downscoping3. Stability4. Integration3 pointsQuestion 341.Which one of the following is NOT one of the reasons why many executives do notconduct ling-run performance evaluations while preferring to focus primarily on shortrun performances?They do not believe in strategic planning.They are personally not evaluated on a long-term basis.They believe short-run considerations are more important than long-runconsiderations.They do not realize the importance of long-run evaluations.3 pointsSave and SubmitClick Save and Submit to save and submit. Click Save All Answers to save all answers.
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