Take Test: Quiz – 3
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Remaining Time:
59 minutes, 23 seconds.
Question 1
1.
The ISO 9000 Standards Series is one example of…
1. tactical control
2. strategic control
3. output control
4. behavior control
3 points
Question 2
1.
Because of the belief that accounting based numbers such as ROI, ROE and EPS are not
reliable indicators of a corporation’s economic value, which method of coporate
performance is now preferred?
1. shareholder value
2. basic earning power
3. price/earnings ratio
4. profit margin
3 points
Question 3
1.
Activity-based costing differs from traditional cost accounting in the way it ________.
1. allocates direct costs to overhead categories
2. tracks allocation decisions
3. allocates indirect and fixed costs to individual products
4. uses debits and credits
3 points
Question 4
1.
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 the
development 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 for
the execution of a strategic plan.
4. Strategy implementation should be kept separate and distinct from strategic
management.
3 points
Question 5
1.
The continual process of measuring products, services, and practices against the toughest
competitors or those companies recognized as industry leaders is known as __________.
1. benchmarking
2. control
3. imitation
4. industrial espionage
3 points
Question 6
1.
A company has adopted a strategy of growth by acquisition and conglomerate
diversification. Which executive type should they hire to drive this strategy?
1. Cautious profit planner
2. Dynamic industry expert
3. Turnaround specialist
4. Professional liquidator
3 points
Question 7
1.
Which of the following is NOT descriptive of a network structure?
1. The network organization is a series of independent firms or business units linked
together through design, production, and marketing.
2. The network structure typically is located in a large, single building (or area) with
many work projects in operation on the site.
3. Independent inventors and entertainment compamies often use the network
structure.
4. The network structure provides an organization with increased flexibility and
adaptability to compe with rapid technological changes.
3 points
Question 8
1.
Which of the following is NOT a benefit of hiring an internal candidate as the firm’s new
CEO?
1. Insiders are familiar with the firm’s products, markets, technologies, and operating
procedures.
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 firm’s operating procedures.
3 points
Question 9
1.
When GE appointed Jeff Immelt–a white male and long-time GE executive–to succeed
Jack Welch–also a white male–as their new CEO, GE was signaling what kind of
strategy?
1. stability
2. stability with innovation
3. ambiguous change
4. strategic change
3 points
Question 10
1.
The Balanced Scorecard approach to evaluation and control assigns to each
goal/objective in an areaone or more measures that are each essential for acheiving a
desired strategic option. These measures are called _________.
1. critical success factors
2. strategic factors
3. behavioral measures
4. key performance measures
3 points
Question 11
1.
Ursula Burns, the new Chairman and CEO of Xerox Corporation wishes to radically
change the firm’s corporate culture. She knows that she must convince others at Xerox of
the necessity for the culture change and gain their active support. Ms. Burns knows that
the key players in energizing the culture change and fostering alignment with the new
strategic 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 points
Question 12
1.
When Unilever acquired Ben & Jerry’s in 2000, they inherited a group of employees with
a strong culture, which they valued highly. B&J’s employees accepted and respected
Unilever as a world-wide leader in consumer products. What would be the best strategy
for Unilever to manage the culture of B&J’s employees?
1. Assimilation
2. Integration
3. Separation
4. Segmentation
3 points
Question 13
1.
To successfully implement a firm’s strategy, the best philosophy is to treat employees as
1. cost factors to be minimized
2. resources to be maximized
3. disposable assets
4. the first assets to be downsized when things go bad.
3 points
Question 14
1.
The process of monitoring activities to ensure that objectives are being accomplished as
planned and corrections made where significant deviations occur is known as
__________.
1. Benchmarking
2. Strategic planning
3. Organizing
4. Control
3 points
Question 15
1.
A person who organizes and manages a business undertaking and who assumes risk for
the sake of a profit is known as a(n) _______.
1. risk-taker
2. manipulator
3. entrepreneur
4. maverick
3 points
Question 16
1.
The question, "To achieve our vision, how will we sustain our ability to change and
improve?" is answered within which of the four perspectives of the Balanced Scorecard?
1. financial
2. learning and growth
3. internal business processes
4. customer
3 points
Question 17
1.
It is necessary and advisable to have management from all levels participate in the
strategy process because _______
1. it enables the organization to gain insights as to what work needs to be done and to
gain 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 their
respective areas of expertise.
4. it is a legal requirement.
3 points
Question 18
1.
Return on Investment (ROI) is the most widely used measure of performance in what
responsibility center?
1. Revenue center.
2. Expense center.
3. Investment center
4. Profit center.
3 points
Question 19
1.
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 advantage
and core competence.
2. The supplier has proprietary ownership of the required technology.
3. The supplier’s 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 points
Question 20
1.
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, license
2. license, make
3. buy, make
4. make, acquire firms producing
3 points
Question 21
1.
Which type of innovation is important in achieving cost leadership strategies?
1. logistical innovation
2. category 1 innovation
3. product innnovation
4. process innovation
3 points
Question 22
1.
The confusion of means with ends that occurs when activities originally intended to help
managers attain corporate objectives become ends in themselves, this is called
__________.
1. Behavior control
2. Goal displacement
3. Output control
4. Short-term orientation
3 points
Question 23
1.
Which of the following is NOT descriptive of the matrix structure?
1. People from functional units are often assigned on a temporary basis to product
units.
2. Although employees often work on one or more product units, they maintain only
one direct supervisor.
3. The matrix structure is very useful when the external environment is very
uncertain.
4. The matrix structure can produce conflicts revolving around duties, authority, and
resource allocation.
3 points
Question 24
1.
The extent to which a society values individual freedom and independence of action
compared with a tight social framework and loyalty to the group is called _______.
1. masculinity-femininity
2. individualism-collectivism
3. power distance
4. uncertainty avoidance
3 points
Question 25
1.
AgroPharm is searching for a top-level executive. The firm has marketed its products
only to U.S. farmers and agribusiness in the past. Now, it plans to expand its operations to
Mexico and Central America in the next 2 years. To maximize the chances of success it is
critical that the new executive _______.
1. be of Hispanic descent
2. possess an advanced degree in agricultural sciences
3. have international business experience
4. have a background in managing agribusiness firms
3 points
Question 26
1.
All of the following are changing structural characteristics found in the modern
organization design EXCEPT _______
1. horizontal communication.
2. centralized top-down decision making.
3. autonomous work teams.
4. value-chain team-focused job design.
3 points
Question 27
1.
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 the
foreign unit.
2. Management needs to exert tight controls over its many units using a centralized
strategic operational decision-making format.
3. Management should be given considerable latitude, but be required to meet some
predetermined performance targets.
4. Management should use a functional approach assigning distinct and separate
responsibilities to each department throughout the MNC.
3 points
Question 28
1.
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 points
Question 29
1.
Which one of the following is NOT a part of the evaluation and control process?
1. Establish corporate strategies
2. Establish standards for performance.
3. Measure actual performance.
4. Take corrective actions
3 points
Question 30
1.
The inventory turnover ratio is an example of a(n)
1. steering control.
2. activity control.
3. behavior control.
4. output control.
3 points
Question 31
1.
If marketing attains its goals at the expense of significantly raising production costs for
the manufacturing department, the end result of marketing’s acheivements and
manufacturing’s cost increases reflects ________
1. behavior substitution.
2. resource allocation.
3. resource optimization.
4. suboptimization.
3 points
Question 32
1.
Which type of chief executive officer who is highly knowledgeable in other industries
and can manage diverse product lines would be appropriate for a corporation following a
diversification strategy?
1. professional liquidator
2. analytical portfolio manager
3. dynamic industry expert
4. turnaround specialist
3 points
Question 33
1.
When they experienced hard economic times, the executives of Zontech, Inc., decided to
restructure the conglomerate of 11 SBUs by selling-off their three least profitable SBUs
and left the rest intact. They were following the strategy of _____.
1. Downsizing
2. Downscoping
3. Stability
4. Integration
3 points
Question 34
1.
Which one of the following is NOT one of the reasons why many executives do not
conduct 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-run
considerations.
They do not realize the importance of long-run evaluations.
3 points
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