Question 1

A(n) _____ ratio measures internal performance with respect to key activities defined by management.

Accepted Answer

The answer of A(n) _____ ratio measures internal performance with...

Question 2

The implementation of total quality management involves the use of many techniques such as quality circles, benchmarking, Six Sigma principles, reduced cycle time, and continuous improvement.

Accepted Answer

A) True 
 B)False

Question 3

The firm's financial position with respect to assets and liabilities at a specific point in time is shown by its:

Accepted Answer

A)  activity ratio. 
B)  profitability ratio. 
C)  income statement. 
D)  liquidity ratio. 
E)  balance sheet. 
A)  activity ratio. 
B)  profitability ratio. 
C)  income statement. 
D)  liquidity ratio. 
E)  balance sheet.

Question 4

Which of the following allows employees to see for themselves the financial condition of the company?

Accepted Answer

A)  Open-book management 
B)  An economic value-added system 
C)  Activity-based costing 
D)  An inappropriate control system 
E)  Market value-added system 
A)  Open-book management 
B)  An economic value-added system 
C)  Activity-based costing 
D)  An inappropriate control system 
E)  Market value-added system

Question 5

Charlie, a manager at a textile company, is bothered by a lack in quality of products manufactured by his company. Charlie hopes to infuse quality into the company through continuous improvement by involving everyone who works there. This describes which control philosophy?

Accepted Answer

A)  Balanced scorecard 
B)  Six Sigma 
C)  Continuous improvement 
D)  Total quality management 
E)  Open-book management 
A)  Balanced scorecard 
B)  Six Sigma 
C)  Continuous improvement 
D)  Total quality management 
E)  Open-book management

Question 6

Net income divided by sales is the correct formula for calculating:

Accepted Answer

A)  return on total assets. 
B)  a current ratio. 
C)  a liquidity ratio. 
D)  profit margin on sales. 
E)  a corporate evaluation. 
A)  return on total assets. 
B)  a current ratio. 
C)  a liquidity ratio. 
D)  profit margin on sales. 
E)  a corporate evaluation.

Question 7

According to the control model, after establishing standards of performance the manager should:

Accepted Answer

A)  compare performance to standards. 
B)  get the standards approved by the supervisors and subordinates. 
C)  measure actual performance. 
D)  take corrective action. 
E)  provide feedback. 
A)  compare performance to standards. 
B)  get the standards approved by the supervisors and subordinates. 
C)  measure actual performance. 
D)  take corrective action. 
E)  provide feedback.

Question 8

The use of cultural values, traditions, shared beliefs and trust to increase compliance with goals refers to decentralized control.

Accepted Answer

A) True 
 B)False

Question 9

Discuss the positive and negative factors that can influence the success of a TQM program.

Accepted Answer

Refer to Exhibit 19.

Question 10

_____ refers to the system of governing an organization so that the interests of corporate owners are protected.

Accepted Answer

Corporate

Question 11

A cash budget estimates receipts and expenditures of money on a daily or weekly basis..

Accepted Answer

A) True 
 B)False

Question 12

Which of the following refers to the system of governing an organization so that the interests of corporate owners are protected?

Accepted Answer

A)  Quality circle 
B)  Corporate governance 
C)  ISO certification 
D)  Open-book management 
E)  Balance scorecard 
A)  Quality circle 
B)  Corporate governance 
C)  ISO certification 
D)  Open-book management 
E)  Balance scorecard

Question 13

In a TQM program, what is benchmarking?

Accepted Answer

Benchmarking is the continuous process o

Question 14

The _____ estimates receipts and expenditures of money on a daily or weekly basis to ensure that an organization has sufficient cash to meet its obligations.

Accepted Answer

The answer of The _____ estimates receipts and expenditures of...

Question 15

A responsibility center involves the coordination of mulitple managers from various departments to carry out an activity.

Accepted Answer

A) True 
 B)False

Question 16

An organization-wide commitment to infusing quality into every activity through continuous improvement defines Six Sigma.

Accepted Answer

A) True 
 B)False

Question 17

The feedback control model is a comprehensive management control system that balances traditional financial measures with measures of customer service, internal business processes, and the organization's capacity for learning and growth.

Accepted Answer

A) True 
 B)False

Question 18

Your department has absenteeism standards, a way to measure absenteeism, and, based on your investigation, you have concluded that your department has an excessive absenteeism rate. What should your next step be?

Accepted Answer

A)  Set new absenteeism standards. 
B)  Develop new measures of absenteeism. 
C)  Terminate three employees for excessive absenteeism. 
D)  All of these would be good examples of taking corrective action. 
E)  None of these 
A)  Set new absenteeism standards. 
B)  Develop new measures of absenteeism. 
C)  Terminate three employees for excessive absenteeism. 
D)  All of these would be good examples of taking corrective action. 
E)  None of these

Question 19

List the four major perspectives of a balanced scorecard.

Accepted Answer

(1) Financial performance, (2)

Question 20

Tiffany recently discovered that the reject rate for her department has exceeded the standard for performance in this area. What should Tiffany do to exercise effective control?

Accepted Answer

A)  She should order more training for her workforce. 
B)  She should contact the maintenance department and have them come fix her machinery. 
C)  She should suspend the poorer workers in her department. 
D)  She should investigate and discover the cause of the problem. 
E)  None of these 
A)  She should order more training for her workforce. 
B)  She should contact the maintenance department and have them come fix her machinery. 
C)  She should suspend the poorer workers in her department. 
D)  She should investigate and discover the cause of the problem. 
E)  None of these

A(n) _____ ratio measures internal performance with respect to key activities defined by management.

The implementation of total quality management involves the use of many techniques such as quality circles, benchmarking, Six Sigma principles, reduced cycle time, and continuous improvement.

The firm's financial position with respect to assets and liabilities at a specific point in time is shown by its:

Which of the following allows employees to see for themselves the financial condition of the company?

Charlie, a manager at a textile company, is bothered by a lack in quality of products manufactured by his company. Charlie hopes to infuse quality into the company through continuous improvement by involving everyone who works there. This describes which control philosophy?

Net income divided by sales is the correct formula for calculating:

According to the control model, after establishing standards of performance the manager should:

The use of cultural values, traditions, shared beliefs and trust to increase compliance with goals refers to decentralized control.

Discuss the positive and negative factors that can influence the success of a TQM program.

_____ refers to the system of governing an organization so that the interests of corporate owners are protected.

A cash budget estimates receipts and expenditures of money on a daily or weekly basis..

Which of the following refers to the system of governing an organization so that the interests of corporate owners are protected?

In a TQM program, what is benchmarking?

The _____ estimates receipts and expenditures of money on a daily or weekly basis to ensure that an organization has sufficient cash to meet its obligations.

A responsibility center involves the coordination of mulitple managers from various departments to carry out an activity.

An organization-wide commitment to infusing quality into every activity through continuous improvement defines Six Sigma.

The feedback control model is a comprehensive management control system that balances traditional financial measures with measures of customer service, internal business processes, and the organization's capacity for learning and growth.

Your department has absenteeism standards, a way to measure absenteeism, and, based on your investigation, you have concluded that your department has an excessive absenteeism rate. What should your next step be?

List the four major perspectives of a balanced scorecard.

Tiffany recently discovered that the reject rate for her department has exceeded the standard for performance in this area. What should Tiffany do to exercise effective control?

The World of Innovative Management

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managing Start Ups and New Ventures

Managerial Planning and Goal Setting

Strategy Formulation and Execution

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Resource

Managing Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

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Exam 19: Managing Quality and Performance

A(n) _____ ratio measures internal performance with respect to key activities defined by management.

The implementation of total quality management involves the use of many techniques such as quality circles, benchmarking, Six Sigma principles, reduced cycle time, and continuous improvement.

The firm's financial position with respect to assets and liabilities at a specific point in time is shown by its:

Which of the following allows employees to see for themselves the financial condition of the company?

Charlie, a manager at a textile company, is bothered by a lack in quality of products manufactured by his company. Charlie hopes to infuse quality into the company through continuous improvement by involving everyone who works there. This describes which control philosophy?

Net income divided by sales is the correct formula for calculating:

According to the control model, after establishing standards of performance the manager should:

The use of cultural values, traditions, shared beliefs and trust to increase compliance with goals refers to decentralized control.

Discuss the positive and negative factors that can influence the success of a TQM program.

_____ refers to the system of governing an organization so that the interests of corporate owners are protected.

A cash budget estimates receipts and expenditures of money on a daily or weekly basis..

Which of the following refers to the system of governing an organization so that the interests of corporate owners are protected?

In a TQM program, what is benchmarking?

The _____ estimates receipts and expenditures of money on a daily or weekly basis to ensure that an organization has sufficient cash to meet its obligations.

A responsibility center involves the coordination of mulitple managers from various departments to carry out an activity.

An organization-wide commitment to infusing quality into every activity through continuous improvement defines Six Sigma.

The feedback control model is a comprehensive management control system that balances traditional financial measures with measures of customer service, internal business processes, and the organization's capacity for learning and growth.

Your department has absenteeism standards, a way to measure absenteeism, and, based on your investigation, you have concluded that your department has an excessive absenteeism rate. What should your next step be?

List the four major perspectives of a balanced scorecard.

Tiffany recently discovered that the reject rate for her department has exceeded the standard for performance in this area. What should Tiffany do to exercise effective control?

The World of Innovative Management

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managing Start Ups and New Ventures

Managerial Planning and Goal Setting

Strategy Formulation and Execution

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Resource

Managing Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Filters