Question 1

Which of the following is a ratio that measures the firm's internal performance with respect to key activities defined by management?

Accepted Answer

A)  A liquidity ratio 
B)  An activity ratio 
C)  Return on assets 
D)  A current ratio 
E)  Profit margin on sales 
A)  A liquidity ratio 
B)  An activity ratio 
C)  Return on assets 
D)  A current ratio 
E)  Profit margin on sales

Question 2

An expense budget lists forecasted and actual revenues of the organization.

Accepted Answer

A) True 
 B)False

Question 3

__________ is/are most beneficial when employees have challenging jobs.

Accepted Answer

A)  Six Sigma 
B)  Total quality management 
C)  Kaizen 
D)  Quality circles 
E)  Continuous improvement 
A)  Six Sigma 
B)  Total quality management 
C)  Kaizen 
D)  Quality circles 
E)  Continuous improvement

Question 4

Continuous improvement, also known as __________, is the implementation of a large number of small, incremental improvements in all areas of the organization on an ongoing basis.

Accepted Answer

The answer of Continuous improvement, also known as __________, is...

Question 5

All of the following are shown on an income statement except:

Accepted Answer

A)  cost of goods sold. 
B)  accounts receivable. 
C)  taxes. 
D)  depreciation. 
E)  net income. 
A)  cost of goods sold. 
B)  accounts receivable. 
C)  taxes. 
D)  depreciation. 
E)  net income.

Question 6

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 low-performing 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 low-performing workers in her department. 
D)  She should investigate and discover the cause of the problem. 
E)  None of these

Question 7

A(n) __________ budget includes anticipated and actual expenses for a responsibility center and for the total organization.

Accepted Answer

A)  revenue 
B)  cash 
C)  capital 
D)  expense 
E)  operating 
A)  revenue 
B)  cash 
C)  capital 
D)  expense 
E)  operating

Question 8

The fourth step in the control process is comparing actual activities to performance standards.

Accepted Answer

A) True 
 B)False

Question 9

The goal of open-book management is to:

Accepted Answer

A)  infuse quality into every activity in a company through continuous improvement. 
B)  get every employee thinking and acting like a business owner. 
C)  reduce overall costs in an effort to increase organizational profits. 
D)  identify opportunities for quality improvements throughout the work process. 
E)  keep tabs on what employees are doing practically all the time. 
A)  infuse quality into every activity in a company through continuous improvement. 
B)  get every employee thinking and acting like a business owner. 
C)  reduce overall costs in an effort to increase organizational profits. 
D)  identify opportunities for quality improvements throughout the work process. 
E)  keep tabs on what employees are doing practically all the time.

Question 10

In most companies, managers rely exclusively on financial measures to measure actual performance.

Accepted Answer

A) True 
 B)False

Question 11

ISO certification has become the recognized standard for evaluating and comparing companies on a global basis.

Accepted Answer

A) True 
 B)False

Question 12

All of the following are key steps of setting up feedback control systems except:

Accepted Answer

A)  comparing performance to standards. 
B)  establishing standards. 
C)  getting employee opinions. 
D)  measuring performance. 
E)  making corrections as necessary. 
A)  comparing performance to standards. 
B)  establishing standards. 
C)  getting employee opinions. 
D)  measuring performance. 
E)  making corrections as necessary.

Question 13

According to the feedback 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 14

A standard for performance is included in an organization's overall strategic plan to compare organizational activities against.

Accepted Answer

A) True 
 B)False

Question 15

Identify and briefly describe the four types of budgets typically used by managers.

Accepted Answer

Budgets that managers typically use incl

Question 16

Six Sigma is an organization-wide effort to infuse quality into every activity in a company through continuous improvement.

Accepted Answer

A) True 
 B)False

Question 17

To evaluate and reward employees effectively for the achievement of standards, managers need clear standards that:

Accepted Answer

A)  allow the organization to learn and grow. 
B)  provide monetary compensation to employees that effectively meet them. 
C)  reflect activities that contribute to the organization's overall strategy in a significant way. 
D)  measure individual productivity so weak performers can be phased out. 
E)  all of these. 
A)  allow the organization to learn and grow. 
B)  provide monetary compensation to employees that effectively meet them. 
C)  reflect activities that contribute to the organization's overall strategy in a significant way. 
D)  measure individual productivity so weak performers can be phased out. 
E)  all of these.

Question 18

Which total quality management technique is based on a five-step methodology referred to as DMAIC (Define, Measure, Analyze, Improve, and Control), which provides a structured way for organizations to approach and solve problems?

Accepted Answer

A)  Quality circles 
B)  Six Sigma 
C)  Benchmarking 
D)  Balanced scorecard 
E)  Continuous improvement 
A)  Quality circles 
B)  Six Sigma 
C)  Benchmarking 
D)  Balanced scorecard 
E)  Continuous improvement

Question 19

Which of the following is a financial budget that 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

A)  Capital budget 
B)  Balance sheet budget 
C)  Cash budget 
D)  Revenue budget 
E)  Expense budget 
A)  Capital budget 
B)  Balance sheet budget 
C)  Cash budget 
D)  Revenue budget 
E)  Expense budget

Question 20

With quality partnering,:

Accepted Answer

A)  people from the quality control department are viewed as "outsiders." 
B)  quality control is conducted after a product is completed or service delivered, allowing organizations to save money. 
C)  quality is measured against the best in the industry. 
D)  quality control is seen as separate from everyday work. 
E)  none of these. 
A)  people from the quality control department are viewed as "outsiders." 
B)  quality control is conducted after a product is completed or service delivered, allowing organizations to save money. 
C)  quality is measured against the best in the industry. 
D)  quality control is seen as separate from everyday work. 
E)  none of these.

Which of the following is a ratio that measures the firm's internal performance with respect to key activities defined by management?

An expense budget lists forecasted and actual revenues of the organization.

__________ is/are most beneficial when employees have challenging jobs.

Continuous improvement, also known as __________, is the implementation of a large number of small, incremental improvements in all areas of the organization on an ongoing basis.

All of the following are shown on an income statement except:

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?

A(n) __________ budget includes anticipated and actual expenses for a responsibility center and for the total organization.

The fourth step in the control process is comparing actual activities to performance standards.

The goal of open-book management is to:

In most companies, managers rely exclusively on financial measures to measure actual performance.

ISO certification has become the recognized standard for evaluating and comparing companies on a global basis.

All of the following are key steps of setting up feedback control systems except:

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

A standard for performance is included in an organization's overall strategic plan to compare organizational activities against.

Identify and briefly describe the four types of budgets typically used by managers.

Six Sigma is an organization-wide effort to infuse quality into every activity in a company through continuous improvement.

To evaluate and reward employees effectively for the achievement of standards, managers need clear standards that:

Which total quality management technique is based on a five-step methodology referred to as DMAIC (Define, Measure, Analyze, Improve, and Control), which provides a structured way for organizations to approach and solve problems?

Which of the following is a financial budget that estimates receipts and expenditures of money on a daily or weekly basis to ensure that an organization has sufficient cash to meet its obligations?

With quality partnering,:

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

Planning and Global Setting

Strategy Formulation and Execution

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Understanding Invidividual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Filters

Exam 19: Managing Quality and Performance

Which of the following is a ratio that measures the firm's internal performance with respect to key activities defined by management?

An expense budget lists forecasted and actual revenues of the organization.

__________ is/are most beneficial when employees have challenging jobs.

Continuous improvement, also known as __________, is the implementation of a large number of small, incremental improvements in all areas of the organization on an ongoing basis.

All of the following are shown on an income statement except:

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?

A(n) __________ budget includes anticipated and actual expenses for a responsibility center and for the total organization.

The fourth step in the control process is comparing actual activities to performance standards.

The goal of open-book management is to:

In most companies, managers rely exclusively on financial measures to measure actual performance.

ISO certification has become the recognized standard for evaluating and comparing companies on a global basis.

All of the following are key steps of setting up feedback control systems except:

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

A standard for performance is included in an organization's overall strategic plan to compare organizational activities against.

Identify and briefly describe the four types of budgets typically used by managers.

Six Sigma is an organization-wide effort to infuse quality into every activity in a company through continuous improvement.

To evaluate and reward employees effectively for the achievement of standards, managers need clear standards that:

Which total quality management technique is based on a five-step methodology referred to as DMAIC (Define, Measure, Analyze, Improve, and Control), which provides a structured way for organizations to approach and solve problems?

Which of the following is a financial budget that estimates receipts and expenditures of money on a daily or weekly basis to ensure that an organization has sufficient cash to meet its obligations?

With quality partnering,:

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

Planning and Global Setting

Strategy Formulation and Execution

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Understanding Invidividual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Filters