Question 1

Financial control focuses on gaps between desired financial outcomes and those actually produced by a firm.

Accepted Answer

A) True 
 B)False  True

Question 2

Financial controls are often used by firms that have relied on related diversification.

Accepted Answer

A) True 
 B)False  False

Question 3

The first step in gap analysis is the evaluation of the firm's future direction and its industry.

Accepted Answer

A) True 
 B)False  False

Question 4

Organizational controls can be the most powerful in an organization, but they are also the hardest to change or institute.

Accepted Answer

A) True 
 B)False

Question 5

Organizational controls:

Accepted Answer

A)  are typically the least quantifiable types of controls. 
B)  often include goals such as expanding into a new market. 
C)  focus on ensuring that a firm is meeting its strategic goals. 
D)  emphasize gaps between desired financial outcomes and those actually produced by a firm. 
A)  are typically the least quantifiable types of controls. 
B)  often include goals such as expanding into a new market. 
C)  focus on ensuring that a firm is meeting its strategic goals. 
D)  emphasize gaps between desired financial outcomes and those actually produced by a firm.

Question 6

According to the text, which category of control is perhaps the most important for an international firm?

Accepted Answer

A)  Strategic control 
B)  Personnel control 
C)  Organizational control 
D)  Financial control 
A)  Strategic control 
B)  Personnel control 
C)  Organizational control 
D)  Financial control

Question 7

Controls that occur at the individual level in a firm are:

Accepted Answer

A)  strategic controls. 
B)  procedural controls. 
C)  financial controls. 
D)  personnel controls. 
A)  strategic controls. 
B)  procedural controls. 
C)  financial controls. 
D)  personnel controls.

Question 8

Explain the role of top management in terms of institutionalizing control.

Accepted Answer

From the broad vision set by the board o

Question 9

A quality circle is a group of workers that regularly confers on ways to improve both the quality of a product and its production process.

Accepted Answer

A) True 
 B)False

Question 10

Sensitivity analysis:

Accepted Answer

A)  is a forecasting method where participants are given potential situations and then asked to build likely responses and outcomes for the business. 
B)  is a forecasting method in which a broad topic is set out and a discussion among the participants is utilized to gain insights into what the future may look like. 
C)  can include anticipatory elements that are difficult to formalize, such as subjective interpretations of facts, shifts in values, new regulations, or inventions. 
D)  tends to vary one quantifiable variable while holding others constant to see the likely effect. 
A)  is a forecasting method where participants are given potential situations and then asked to build likely responses and outcomes for the business. 
B)  is a forecasting method in which a broad topic is set out and a discussion among the participants is utilized to gain insights into what the future may look like. 
C)  can include anticipatory elements that are difficult to formalize, such as subjective interpretations of facts, shifts in values, new regulations, or inventions. 
D)  tends to vary one quantifiable variable while holding others constant to see the likely effect.

Question 11

For an international firm that establishes a wholly owned subsidiary overseas, the firm's middle managers are key to helping prevent situations.

Accepted Answer

A) True 
 B)False

Question 12

A firm should not assume it is on the right path simply because it met its current goal for profitability.

Accepted Answer

A) True 
 B)False

Question 13

Reengineering is a radical redesign of an organization's processes so that they can be executed in parallel, and the tasks undertaken by nonspecialists.

Accepted Answer

A) True 
 B)False

Question 14

In conducting gap analysis, managers can simply rely on a binary yes or no judgment.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following statements about scenario planning is true?

Accepted Answer

A)  It can include firms' competitive environment as summarized by the Five Forces Model and other anticipatory elements that are difficult to formalize. 
B)  Scenarios always include expectedly important situations and problems that exist in some form in the present day. 
C)  At the end of the scenario planning exercise, analysts recommend selecting an even number of scenarios that vary from low to high on a single key variable. 
D)  It tends to vary one quantifiable variable while holding others constant to see the likely effect. 
A)  It can include firms' competitive environment as summarized by the Five Forces Model and other anticipatory elements that are difficult to formalize. 
B)  Scenarios always include expectedly important situations and problems that exist in some form in the present day. 
C)  At the end of the scenario planning exercise, analysts recommend selecting an even number of scenarios that vary from low to high on a single key variable. 
D)  It tends to vary one quantifiable variable while holding others constant to see the likely effect.

Question 16

Denominator management occurs when a firm tries to increase its return on investment, or ROI by simply reducing the denominator (R,) while holding or increasing the numerator (I,) constant.

Accepted Answer

A) True 
 B)False

Question 17

What is scenario planning? Explain its importance.

Accepted Answer

Some firms use a formal process of plann

Question 18

A _____ is where employees do not do what is best for the shareholders.

Accepted Answer

A)  principal dilemma 
B)  principal-agent problem 
C)  principal-stakeholder problem 
D)  principal-principal problem 
A)  principal dilemma 
B)  principal-agent problem 
C)  principal-stakeholder problem 
D)  principal-principal problem

Question 19

The Delphi method of forecasting is faster than brainstorming sessions, and may help to reduce the problem of groupthink.

Accepted Answer

A) True 
 B)False

Question 20

What is reengineering? How is it helpful?

Accepted Answer

In gathering information about a firm's

Financial control focuses on gaps between desired financial outcomes and those actually produced by a firm.

Financial controls are often used by firms that have relied on related diversification.

The first step in gap analysis is the evaluation of the firm's future direction and its industry.

Organizational controls can be the most powerful in an organization, but they are also the hardest to change or institute.

Organizational controls:

According to the text, which category of control is perhaps the most important for an international firm?

Controls that occur at the individual level in a firm are:

Explain the role of top management in terms of institutionalizing control.

A quality circle is a group of workers that regularly confers on ways to improve both the quality of a product and its production process.

Sensitivity analysis:

For an international firm that establishes a wholly owned subsidiary overseas, the firm's middle managers are key to helping prevent situations.

A firm should not assume it is on the right path simply because it met its current goal for profitability.

Reengineering is a radical redesign of an organization's processes so that they can be executed in parallel, and the tasks undertaken by nonspecialists.

In conducting gap analysis, managers can simply rely on a binary yes or no judgment.

Which of the following statements about scenario planning is true?

Denominator management occurs when a firm tries to increase its return on investment, or ROI by simply reducing the denominator (R,) while holding or increasing the numerator (I,) constant.

What is scenario planning? Explain its importance.

A _____ is where employees do not do what is best for the shareholders.

The Delphi method of forecasting is faster than brainstorming sessions, and may help to reduce the problem of groupthink.

What is reengineering? How is it helpful?

Introduction to International Management

Culture and International Management

The Economic, Legal, and Political Environment

Strategy Fundamentals and Corporate Strategy

International Market Entry

Business- and Functional-Level Strategy

Motivation

Leadership

Decision Making

Influence and Negotiation

Human Resources Management

The Structure of the International Firm

The Future of International Management

Filters

Exam 11: Evaluation and Control

Financial control focuses on gaps between desired financial outcomes and those actually produced by a firm.

Financial controls are often used by firms that have relied on related diversification.

The first step in gap analysis is the evaluation of the firm's future direction and its industry.

Organizational controls can be the most powerful in an organization, but they are also the hardest to change or institute.

Organizational controls:

According to the text, which category of control is perhaps the most important for an international firm?

Controls that occur at the individual level in a firm are:

Explain the role of top management in terms of institutionalizing control.

A quality circle is a group of workers that regularly confers on ways to improve both the quality of a product and its production process.

Sensitivity analysis:

For an international firm that establishes a wholly owned subsidiary overseas, the firm's middle managers are key to helping prevent situations.

A firm should not assume it is on the right path simply because it met its current goal for profitability.

Reengineering is a radical redesign of an organization's processes so that they can be executed in parallel, and the tasks undertaken by nonspecialists.

In conducting gap analysis, managers can simply rely on a binary yes or no judgment.

Which of the following statements about scenario planning is true?

Denominator management occurs when a firm tries to increase its return on investment, or ROI by simply reducing the denominator (R,) while holding or increasing the numerator (I,) constant.

What is scenario planning? Explain its importance.

A _____ is where employees do not do what is best for the shareholders.

The Delphi method of forecasting is faster than brainstorming sessions, and may help to reduce the problem of groupthink.

What is reengineering? How is it helpful?

Introduction to International Management

Culture and International Management

The Economic, Legal, and Political Environment

Strategy Fundamentals and Corporate Strategy

International Market Entry

Business- and Functional-Level Strategy

Motivation

Leadership

Decision Making

Influence and Negotiation

Human Resources Management

The Structure of the International Firm

The Future of International Management

Filters