Question 1

Very high expectations from senior management and a desire to share authority by middle managers are two of the positive factors leading to success of TQM.

Accepted Answer

A) True 
 B)False

Question 2

Effective management control involves subjective judgment and employee discussions, as well as objective analysis of performance data.

Accepted Answer

A) True 
 B)False

Question 3

The __________ shows the firm's financial position with respect to assets and liabilities at a specific point in time.

Accepted Answer

The answer of The __________ shows the firm's financial position...

Question 4

__________ allows the employee to see how his or her job fits into the big picture and affects the financial future of the organization.

Accepted Answer

A)  Activity-based costing 
B)  An economic value-added system 
C)  Open-book management 
D)  A hierarchical control process 
E)  None of these 
A)  Activity-based costing 
B)  An economic value-added system 
C)  Open-book management 
D)  A hierarchical control process 
E)  None of these

Question 5

Which of the following is considered a leverage ratio?

Accepted Answer

A)  Debt ratio 
B)  Return on assets 
C)  Profit margin on sales 
D)  Conversion ratio 
E)  Inventory turnover 
A)  Debt ratio 
B)  Return on assets 
C)  Profit margin on sales 
D)  Conversion ratio 
E)  Inventory turnover

Question 6

The systematic process of regulating organizational activities to make them consistent with the expectations established in plans, targets, and standards of performance refers to organizational control.

Accepted Answer

A) True 
 B)False

Question 7

A(n) __________ 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

The answer of A(n) __________ is a comprehensive management control...

Question 8

A(n) __________ is a group of 6 to 12 volunteer employees who meet regularly to discuss and solve problems that affect the quality of their work.

Accepted Answer

The answer of A(n) __________ is a group of 6...

Question 9

__________ is purchase orders divided by customer inquiries.

Accepted Answer

A)  The current ratio 
B)  Inventory turnover 
C)  The conversion ratio 
D)  Profit margin on sales 
E)  Gross margin 
A)  The current ratio 
B)  Inventory turnover 
C)  The conversion ratio 
D)  Profit margin on sales 
E)  Gross margin

Question 10

In a TQM program, what is benchmarking? What are the steps of the benchmarking process?

Accepted Answer

Benchmarking is defined as "the continuo

Question 11

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

Accepted Answer

Positive factors:
•Tasks make great skil

Question 12

__________ allows employees to see for themselves the financial condition of the company and encourages them to think and act like business owners.

Accepted Answer

Open-book

Question 13

Common financial ratios include activity ratios, passivity ratios, profitability ratios, and leverage ratios.

Accepted Answer

A) True 
 B)False

Question 14

Organizations need quality and behavioral control, which are a manager's responsibility. If you were the manager of a frozen yogurt shop, what types of controls would you use to monitor quality and behavior? How would you use the information you collect?

Accepted Answer

Organizational control refers to the sys

Question 15

The implementation of total quality management involves the use of many techniques, including quality circles, benchmarking, Six Sigma principles, quality partnering, and continuous improvement.

Accepted Answer

A) True 
 B)False

Question 16

__________ indicators focus on production and operating statistics.

Accepted Answer

A)  Financial performance 
B)  Business process 
C)  Critical success 
D)  Potential for learning and growth 
E)  Performance measurement 
A)  Financial performance 
B)  Business process 
C)  Critical success 
D)  Potential for learning and growth 
E)  Performance measurement

Question 17

The balanced scorecard is an effective tool for managing and improving performance, but only if it is:

Accepted Answer

A)  used by managers who recognize that relying exclusively on financial measures benefits the organization in the long run. 
B)  implemented using a performance measurement orientation. 
C)  used exclusively by the top levels of the organization. 
D)  clearly linked to a well-defined organizational strategy and goals. 
E)  used in organizations that adopt a hierarchical control process. 
A)  used by managers who recognize that relying exclusively on financial measures benefits the organization in the long run. 
B)  implemented using a performance measurement orientation. 
C)  used exclusively by the top levels of the organization. 
D)  clearly linked to a well-defined organizational strategy and goals. 
E)  used in organizations that adopt a hierarchical control process.

Question 18

Which of the following is the basic assumption of hierarchical control?

Accepted Answer

A)  People work best when they are fully committed to the organization. 
B)  People are capable of self-discipline and can be trusted. 
C)  People need to be monitored closely. 
D)  People value intrinsic rewards more than extrinsic rewards. 
E)  People generally take initiative and seek responsibility. 
A)  People work best when they are fully committed to the organization. 
B)  People are capable of self-discipline and can be trusted. 
C)  People need to be monitored closely. 
D)  People value intrinsic rewards more than extrinsic rewards. 
E)  People generally take initiative and seek responsibility.

Question 19

Madison has been assigned to work on the development of a budget that lists planned investments in major assets such as buildings and heavy machinery. Madison is working on a(n) __________ budget.

Accepted Answer

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

Question 20

The __________ lists planned investments in major assets such as buildings, heavy machinery, or complex information technology systems, often involving expenditures over more than a year.

Accepted Answer

The answer of The __________ lists planned investments in major...

Very high expectations from senior management and a desire to share authority by middle managers are two of the positive factors leading to success of TQM.

Effective management control involves subjective judgment and employee discussions, as well as objective analysis of performance data.

The __________ shows the firm's financial position with respect to assets and liabilities at a specific point in time.

__________ allows the employee to see how his or her job fits into the big picture and affects the financial future of the organization.

Which of the following is considered a leverage ratio?

The systematic process of regulating organizational activities to make them consistent with the expectations established in plans, targets, and standards of performance refers to organizational control.

A(n) __________ 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.

A(n) __________ is a group of 6 to 12 volunteer employees who meet regularly to discuss and solve problems that affect the quality of their work.

__________ is purchase orders divided by customer inquiries.

In a TQM program, what is benchmarking? What are the steps of the benchmarking process?

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

__________ allows employees to see for themselves the financial condition of the company and encourages them to think and act like business owners.

Common financial ratios include activity ratios, passivity ratios, profitability ratios, and leverage ratios.

Organizations need quality and behavioral control, which are a manager's responsibility. If you were the manager of a frozen yogurt shop, what types of controls would you use to monitor quality and behavior? How would you use the information you collect?

The implementation of total quality management involves the use of many techniques, including quality circles, benchmarking, Six Sigma principles, quality partnering, and continuous improvement.

__________ indicators focus on production and operating statistics.

The balanced scorecard is an effective tool for managing and improving performance, but only if it is:

Which of the following is the basic assumption of hierarchical control?

Madison has been assigned to work on the development of a budget that lists planned investments in major assets such as buildings and heavy machinery. Madison is working on a(n) __________ budget.

The __________ lists planned investments in major assets such as buildings, heavy machinery, or complex information technology systems, often involving expenditures over more than a year.

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

Very high expectations from senior management and a desire to share authority by middle managers are two of the positive factors leading to success of TQM.

Effective management control involves subjective judgment and employee discussions, as well as objective analysis of performance data.

The __________ shows the firm's financial position with respect to assets and liabilities at a specific point in time.

__________ allows the employee to see how his or her job fits into the big picture and affects the financial future of the organization.

Which of the following is considered a leverage ratio?

The systematic process of regulating organizational activities to make them consistent with the expectations established in plans, targets, and standards of performance refers to organizational control.

A(n) __________ 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.

A(n) __________ is a group of 6 to 12 volunteer employees who meet regularly to discuss and solve problems that affect the quality of their work.

__________ is purchase orders divided by customer inquiries.

In a TQM program, what is benchmarking? What are the steps of the benchmarking process?

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

__________ allows employees to see for themselves the financial condition of the company and encourages them to think and act like business owners.

Common financial ratios include activity ratios, passivity ratios, profitability ratios, and leverage ratios.

Organizations need quality and behavioral control, which are a manager's responsibility. If you were the manager of a frozen yogurt shop, what types of controls would you use to monitor quality and behavior? How would you use the information you collect?

The implementation of total quality management involves the use of many techniques, including quality circles, benchmarking, Six Sigma principles, quality partnering, and continuous improvement.

__________ indicators focus on production and operating statistics.

The balanced scorecard is an effective tool for managing and improving performance, but only if it is:

Which of the following is the basic assumption of hierarchical control?

Madison has been assigned to work on the development of a budget that lists planned investments in major assets such as buildings and heavy machinery. Madison is working on a(n) __________ budget.

The __________ lists planned investments in major assets such as buildings, heavy machinery, or complex information technology systems, often involving expenditures over more than a year.

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