Question 1

An internal audit task force of managers could be charged with determining a specific number (usually 10 to 20) of the most important strengths and weaknesses.

Accepted Answer

A) True 
 B)False  True

Question 2

Who should perform an internal audit?

Accepted Answer

A)  A private auditing firm 
B)  The organization's accounting department 
C)  Representative managers and employees from throughout the firm 
D)  A small team of top-level managers 
E)  The chief executive officer 
A)  A private auditing firm 
B)  The organization's accounting department 
C)  Representative managers and employees from throughout the firm 
D)  A small team of top-level managers 
E)  The chief executive officer C

Question 3

Capacity decisions concern distances from raw materials to production sites to customers.

Accepted Answer

A) True 
 B)False  False

Question 4

Five major stakeholders that affect pricing decisions are consumers, governments, suppliers, distributors, and competitors.

Accepted Answer

A) True 
 B)False

Question 5

What is the essential bridge between the present and the future that increases the likelihood of achieving desired results?

Accepted Answer

A)  Motivating 
B)  Planning 
C)  Controlling 
D)  Staffing 
E)  Organizing 
A)  Motivating 
B)  Planning 
C)  Controlling 
D)  Staffing 
E)  Organizing

Question 6

According to James Van Horne the basic decision areas of finance are: the investment decision, the financing decision, and the dividend decision.

Accepted Answer

A) True 
 B)False

Question 7

What category of ratios measures how effectively a firm can maintain its economic position in the growth of the economy and industry?

Accepted Answer

A)  Profitability 
B)  Liquidity 
C)  Leverage 
D)  Activity 
E)  Growth 
A)  Profitability 
B)  Liquidity 
C)  Leverage 
D)  Activity 
E)  Growth

Question 8

Four basic approaches exist to determine R&D budget allocations. What are these approaches? Which one would you recommend for a pharmaceutical company? Why?

Accepted Answer

The four commonly-used approaches to det

Question 9

Linkages between a firm's culture and strategies often determine success.

Accepted Answer

A) True 
 B)False

Question 10

An effective information management system ________ information in such a way that it answers important operating and strategic questions.

Accepted Answer

A)  collects 
B)  codes 
C)  stores 
D)  synthesizes 
E)  all of the above 
A)  collects 
B)  codes 
C)  stores 
D)  synthesizes 
E)  all of the above

Question 11

While interesting, organizational culture does not significantly affect business decisions.

Accepted Answer

A) True 
 B)False

Question 12

Internal R&D and contract R&D are the two basic forms of R&D in organizations.

Accepted Answer

A) True 
 B)False

Question 13

Life-directing attitudes that serve as behavioral guidelines are called

Accepted Answer

A)  values. 
B)  rites. 
C)  beliefs. 
D)  metaphors. 
E)  legends. 
A)  values. 
B)  rites. 
C)  beliefs. 
D)  metaphors. 
E)  legends.

Question 14

The management function of organizing is included in human resource management.

Accepted Answer

A) True 
 B)False

Question 15

________ can reveal the demographic characteristics of an organization's customers.

Accepted Answer

A)  Customer profiling 
B)  Test marketing 
C)  Market development 
D)  The vision statement 
E)  Telemarketing 
A)  Customer profiling 
B)  Test marketing 
C)  Market development 
D)  The vision statement 
E)  Telemarketing

Question 16

All of the following are key questions that can reveal internal strengths and weaknesses in the management department EXCEPT

Accepted Answer

A)  Is the organization's structure appropriate? 
B)  Are reward and control mechanisms effective? 
C)  Are the organization's products positioned well against competing products? 
D)  Does the firm use strategic-management concepts? 
E)  Do managers delegate authority well? 
A)  Is the organization's structure appropriate? 
B)  Are reward and control mechanisms effective? 
C)  Are the organization's products positioned well against competing products? 
D)  Does the firm use strategic-management concepts? 
E)  Do managers delegate authority well?

Question 17

The idea that paying dividends results in a higher stock price is a myth.

Accepted Answer

A) True 
 B)False

Question 18

Staffing involves all of these activities EXCEPT

Accepted Answer

A)  recruiting 
B)  transferring 
C)  customer analysis 
D)  managing union relations 
E)  training and developing 
A)  recruiting 
B)  transferring 
C)  customer analysis 
D)  managing union relations 
E)  training and developing

Question 19

Cultural products include values, beliefs, stories, and language.

Accepted Answer

A) True 
 B)False

Question 20

________ is a commonly used approach to determine R&D budget allocations.

Accepted Answer

A)  Financing as many project proposals as possible 
B)  Using the percentage of sales method 
C)  Budgeting for R&D about what competitors spend 
D)  Deciding how many successful new products are needed 
E)  All of the above 
A)  Financing as many project proposals as possible 
B)  Using the percentage of sales method 
C)  Budgeting for R&D about what competitors spend 
D)  Deciding how many successful new products are needed 
E)  All of the above

An internal audit task force of managers could be charged with determining a specific number (usually 10 to 20) of the most important strengths and weaknesses.

Who should perform an internal audit?

Capacity decisions concern distances from raw materials to production sites to customers.

Five major stakeholders that affect pricing decisions are consumers, governments, suppliers, distributors, and competitors.

What is the essential bridge between the present and the future that increases the likelihood of achieving desired results?

According to James Van Horne the basic decision areas of finance are: the investment decision, the financing decision, and the dividend decision.

What category of ratios measures how effectively a firm can maintain its economic position in the growth of the economy and industry?

Four basic approaches exist to determine R&D budget allocations. What are these approaches? Which one would you recommend for a pharmaceutical company? Why?

Linkages between a firm's culture and strategies often determine success.

An effective information management system ________ information in such a way that it answers important operating and strategic questions.

While interesting, organizational culture does not significantly affect business decisions.

Internal R&D and contract R&D are the two basic forms of R&D in organizations.

Life-directing attitudes that serve as behavioral guidelines are called

The management function of organizing is included in human resource management.

________ can reveal the demographic characteristics of an organization's customers.

All of the following are key questions that can reveal internal strengths and weaknesses in the management department EXCEPT

The idea that paying dividends results in a higher stock price is a myth.

Staffing involves all of these activities EXCEPT

Cultural products include values, beliefs, stories, and language.

________ is a commonly used approach to determine R&D budget allocations.

The Nature of Strategic Management

The Business Vision and Mission

The External Assessment

Strategies in Action

Strategy Analysis and Choice

Implementing Strategies: Management and Operations Issues

Implementing Strategies: Marketing, Financeaccounting, RD, and MIS Issues

Strategy Review, Evaluation, and Control

Business Ethicssocial Responsibilityenvironmental Sustainability

Globalinternational Issues

Filters

Exam 4: The Internal Assessment

An internal audit task force of managers could be charged with determining a specific number (usually 10 to 20) of the most important strengths and weaknesses.

Who should perform an internal audit?

Capacity decisions concern distances from raw materials to production sites to customers.

Five major stakeholders that affect pricing decisions are consumers, governments, suppliers, distributors, and competitors.

What is the essential bridge between the present and the future that increases the likelihood of achieving desired results?

According to James Van Horne the basic decision areas of finance are: the investment decision, the financing decision, and the dividend decision.

What category of ratios measures how effectively a firm can maintain its economic position in the growth of the economy and industry?

Four basic approaches exist to determine R&D budget allocations. What are these approaches? Which one would you recommend for a pharmaceutical company? Why?

Linkages between a firm's culture and strategies often determine success.

An effective information management system ________ information in such a way that it answers important operating and strategic questions.

While interesting, organizational culture does not significantly affect business decisions.

Internal R&D and contract R&D are the two basic forms of R&D in organizations.

Life-directing attitudes that serve as behavioral guidelines are called

The management function of organizing is included in human resource management.

________ can reveal the demographic characteristics of an organization's customers.

All of the following are key questions that can reveal internal strengths and weaknesses in the management department EXCEPT

The idea that paying dividends results in a higher stock price is a myth.

Staffing involves all of these activities EXCEPT

Cultural products include values, beliefs, stories, and language.

________ is a commonly used approach to determine R&D budget allocations.

The Nature of Strategic Management

The Business Vision and Mission

The External Assessment

Strategies in Action

Strategy Analysis and Choice

Implementing Strategies: Management and Operations Issues

Implementing Strategies: Marketing, Financeaccounting, RD, and MIS Issues

Strategy Review, Evaluation, and Control

Business Ethicssocial Responsibilityenvironmental Sustainability

Globalinternational Issues

Filters