Exam 5: Management Concepts

Consider the following statements as you respond to the question: i.Ask managers to think of one hundred uses for a brick, other than for building things.ii.Assess the educational background and organizational experience of employees.iii.Conduct a one-day seminar on how business processes can create value in the marketplace.iv.Encourage managers to suggest ideas, even if they are impractical.v.Hold weekly meetings to update interested parties on the BPM project; ensure at least one member of top management attends each meeting.vi.Ignore opinions and insights from people not directly involved with a business process.The text discussed seven basic principles of business process management.Which of the following both illustrates one of the principles and relates to the event identification component of the COSO enterprise risk management framework?

According to expectancy theory, motivation is determined by three factors.Which of the following is not one of the three factors?

One of the basic principles of business process management discussed in the text states: "When using consultants, make sure the task is well defined, with specific deliverables defined by the company." Which of the following actions applies that principle?

Which element of expectancy theory is illustrated by each of the following statements? 1.After changing his major from finance to accounting, Andy planned a schedule that would allow him to finish his degree in four years.2.Anh's suggestions for business process improvements often result in changes at her company.3.Erin wasn't entirely sure that she wanted the extra responsibilities associated with a promotion.4.Gloria's boss promised her a reward if she completed a training course on business process management.5.Shortly after his hiring, Zachary knew he eventually wanted to be named "employee of the month."

Which of the following formulas explains motivation using expectancy theory?

Indicate with "yes" or "no" whether each of the following statements upholds the basic principles of business process management discussed in the text.You do not need to identify the BPM principle involved.1.Brian told employees that all their concerns would be addressed at the end of the BPM project.2.Donna considered whether a BPM project required any information technology tools the company did not already have.3.Jared, an entry-level employee, suggested changes to his company's process for taking inventory as part of a focus group with top management.4.Julia argued strongly that a proposed BPM project be managed by the firm's own employees, with input as needed from an external consultant.5.Lucius objected to his company's new approach to training because they had never used it before.6.Melinda decided to change her company's purchasing process because their current process seemed too cumbersome.7.Thao planned and presented a suggested timeline to her firm's external BPM consultants.

The chapter discussed three major ideas from management and their relationship to accounting information systems: COSO's enterprise risk management framework, business process management and expectancy theory.Which of the following statements is most true?

Within the context of business process management, the quote "If you don't know where you're going, any road will take you there" is most related to which of the following?

Annie and Ray were having a conversation about business process management; several statements from that conversation are listed below: a.A weekly e-mail to all employees will help everyone stay informed about our progress. b.I know a great consultant who can help us out; that way, we won't have to bother company employees too much. c.I think we should create a suggestion box where employees can give us their ideas and express their concerns about the project. d.I'd suggest putting together a cross-functional team to help with the project, but we have to make sure we avoid people who will only protect their own department. e.Let's make some minor modifications to our existing process; that should be enough to satisfy almost everyone. f.Our company has always been able to compete based on the quality of our product; any new process we design should enable us to keep doing that. g.The very first thing we need to do is get rid of all paper forms; they only create waste and inefficiency. h.The vice president of operations gave me a clear description of what the process should look like, but I'm not sure he understands how things really work around here. i.We should consider the impact this new process will have throughout the organization. j.We should look for a consultant with a lot of experience; the consultant should be able to provide us with all the detail we need about matters like how long the project will take and what milestones we should set along the way.Analyze the statements; indicate which ones support the basic principles of business process management discussed in the text.For each statement, indicate the relevant BPM principle (whether supported or not).

Explain how Brown's risk taxonomy, discussed in the chapter on internal control, relates to COSO's enterprise risk management framework.You do not need to list the elements of Brown's taxonomy.

Tim graduated from college three years ago, and recently has been promoted to a management position at a local charitable organization.The organization's internal controls are weak, and Tim wants to improve them; but, his employees lack motivation for doing so.Tim has sent an e-mail to Jackie, his professional mentor, asking for ideas about improving the employees' motivation.Compose an e-mail to Tim explaining how he could use expectancy theory to motivate his employees to improve the organization's internal controls.Make sure the e-mail has sufficient detail for Tim to implement the ideas you suggest.

Charlie is a partner in a CPA firm.He wants to make some changes to the company's hiring practices, but is concerned current employees will lack the motivation to do so.Provided he uses an appropriate tool, which problem will be easier to address?

Joe talked to two friends who had recently worked on different business process management projects; one project was successful, but the other was not.Several actions taken in each project are listed below.Based on the generalized model of BPM discussed in the text, determine which actions were associated with the successful project; then, put them in the correct order. a.According to published benchmarking studies, most companies spend between $2.00 and $5.00 to process a transaction of this type. b.Here's a diagram I drew that illustrates how the process works now. c.I found this generic description of the process in an accounting textbook. d.I'm glad that project is done-now we don't have to think about it again. e.Just pick something off the list and let's try it. f.Let's figure out a better way to purchase assets. g.Let's focus first on the first item in the ranked list; if that doesn't work, we can try something else. h.Look at this list of one hundred ways to improve the process that was published in a practitioner journal two years ago. i.The cost of issuing one check is roughly $3.00. j.There are five ways to improve this process; here's a ranked list of them. k.We need to make the process of paying dividends more efficient.l.We should collect ongoing data about transaction processing costs to see if we've achieved our goal.

Brett and Erin are accountants working for XMP Corporation; Brett is very interested in working his way up to being XMP's chief financial officer.He believes if he completes all his assigned tasks well before their established deadlines and controls costs in his area, he will be promoted.He is confident he can achieve those two goals.Which of the following best pairs an element of expectancy theory with a phrase that illustrates it?

Which of the following steps occurs first in the generalized model of business process management discussed in the text?

Consider the following table as you respond to the questions: Which of the following is the best choice for Item G in the table?

Charlie is a partner in a CPA firm.He wants to make some changes to the company's hiring practices, but is concerned current employees will lack the motivation to do so.Which of the following tools should Charlie use to address those problems?

The COSO enterprise risk management framework comprises eight sections, one of which is objective setting.COSO identified five types of objectives most organizations should consider in developing an ERM plan."Completing SEC filings within thirty days of the fiscal year end" is an example of a ___ objective.

Consider the following table as you respond to the questions: Which of the following developed the framework DFN is using?

Consider the following statements as you respond to the question: i.Ask managers to think of one hundred uses for a brick, other than for building things.ii.Assess the educational background and organizational experience of employees.iii.Conduct a one-day seminar on how business processes can create value in the marketplace.iv.Encourage managers to suggest ideas, even if they are impractical.v.Hold weekly meetings to update interested parties on the BPM project; ensure at least one member of top management attends each meeting.vi.Ignore opinions and insights from people not directly involved with a business process.The text discussed seven basic principles of business process management.Which statements in the list above are related to the same basic principle?