Exam 4: Management Concepts

Within the context of business process management, the quote "If you don't know where you're going, any road will take you there" is most related to which of the following?

In the COSO enterprise risk management framework, an organization's overall tone relates most closely to:

The chapter discussed three major ideas from management and their relationship to accounting information systems: COSO's enterprise risk management framework, business process management and expectancy theory. Which of the following statements is most true?

Charlie is a partner in a CPA firm. He wants to make some changes to the company's hiring practices, but is concerned current employees will lack the motivation to do so. Provided he uses an appropriate tool, which problem will be easier to address?

The basic principles of business process management discussed in the text include:

The chapter illustrated the use of the COSO enterprise risk management framework with Dreambox Creations, Inc. For each statement below, identify the element of the COSO framework that most clearly applies. You must use each element of the framework exactly one time. 1. Dreambox assigned one of its three corporate officers the responsibility for annually reviewing the plan. 2. Dreambox chose "reducing" and "sharing" as discussed in the COSO framework. 3. Dreambox developed a plan to hire additional marketing professionals whose main job would be to pursue new clients. 4. Dreambox had set a strategic goal of acquiring at least three new clients every year. 5. Dreambox planned several meetings with its staff to explain the importance of ERM, the development of the ERM plan and its implications for the firm. 6. Dreambox's management had committed to developing an ERM plan. 7. If Dreambox lacked the staff with the skills and desire to pursue new clients, they might not be able to achieve their strategic goal. 8. The potential impact of that risk was great. At an inherent level, it was also high.

Which of the following steps occurs first in the generalized model of business process management discussed in the text?

Brett and Erin are accountants working for XMP Corporation; Brett is very interested in working his way up to being XMP's chief financial officer. He believes if he completes all his assigned tasks well before their established deadlines and controls costs in his area, he will be promoted. He is confident he can achieve those two goals. Which of the following best pairs an element of expectancy theory with a phrase that illustrates it?

One of the basic principles of business process management discussed in the text states: "Ensure that top management can describe current business processes before trying to modify the processes." Which of the following would be the most appropriate way to fulfill that principle?

Because of the relationship between the variables in expectancy theory:

Which of the following best paraphrases one of the basic principles of business process management discussed in the text?

Nancy talked to two friends who had recently worked on developing enterprise risk management plans; one project was successful, but the other was not. Determine which statements in the list below were associated with the successful project; then, identify the element of the COSO enterprise risk management framework that most clearly applies. A. Backup power supplies and adequate insurance are good ideas. B. I'd say the risk is moderate to high at an inherent level, but we can probably reduce it if we implement some new procedures. C. I'm glad the president let us bring in a speaker about ERM before the project got started. D. If we have a power outage, our cooling systems could fail, leading to damaged inventory. E. Let's put together a memo that explains the work we've done to everyone in the company. F. Our costs are out of control, so let's cut them by 10%. G. Our goal is to lose no more than 1% of our inventory due to spoilage. H. Should we simply accept the risk? Or should we try another way of reacting to it? i. The operations manager and inventory control clerks can let us know how the process is working.j. We need to make the company more profitable.k. Why would anyone outside inventory control need to know what we've done?

Charlie is a partner in a CPA firm. He wants to make some changes to the company's hiring practices, but is concerned current employees will lack the motivation to do so. He should use ___ to address needed changes to hiring practices and ___ to address his concern about current employees.

COSO's Enterprise Risk Management-Integrated Framework comprises all the following sections except:

According to expectancy theory, motivation is determined by three factors. Which of the following is not one of the three factors?

Gelton was leading a team of three co-workers focused on improving their company's process for hiring new employees. They had read the company procedures manual describing the current process, then interviewed newly-hired workers about their experiences. They used the principles of activity-based costing to determine the average cost of hiring a new employee, then created a line graph tracing the average cost over the last twelve months. Using the generalized model of BPM discussed in the text, Gelton and his team still need to complete steps:

One of the basic principles of business process management discussed in the text states: "When using consultants, make sure the task is well defined, with specific deliverables defined by the company." Which of the following actions applies that principle?

Consider the following statements as you respond to the next question: i. Ask managers to think of one hundred uses for a brick, other than for building things.ii. Assess the educational background and organizational experience of employees.iii. Conduct a one-day seminar on how business processes can create value in the marketplace.iv. Encourage managers to suggest ideas, even if they are impractical.v. Hold weekly meetings to update interested parties on the BPM project; ensure at least one member of top management attends each meeting.vi. Ignore opinions and insights from people not directly involved with a business process.The text discussed seven basic principles of business process management. Which statement both illustrates one of the principles and relates to the internal environment component of the COSO enterprise risk management framework?

Consider the following statements as you respond to the next question: i. Ask managers to think of one hundred uses for a brick, other than for building things.ii. Assess the educational background and organizational experience of employees.iii. Conduct a one-day seminar on how business processes can create value in the marketplace.iv. Encourage managers to suggest ideas, even if they are impractical.v. Hold weekly meetings to update interested parties on the BPM project; ensure at least one member of top management attends each meeting.vi. Ignore opinions and insights from people not directly involved with a business process.The text discussed seven basic principles of business process management. Which statements in the list above are related to the same basic principle?

Which of the following formulas explains motivation using expectancy theory?