Question 1

Competitor intelligence seeks to identify competitors and assess the intellectual capital of their managers and employees.

Accepted Answer

A) True 
 B)False

Question 2

Competitor intelligence experts suggest that 80 percent of what managers need to know about competitors can be found out from __________.

Accepted Answer

A)  business information companies such as Dun & Bradstreet 
B)  their competitors' employees, suppliers, and customers 
C)  their competitors' products, managers, and customers 
D)  their own employees, suppliers, and customers 
E)  the Internet 
A)  business information companies such as Dun & Bradstreet 
B)  their competitors' employees, suppliers, and customers 
C)  their competitors' products, managers, and customers 
D)  their own employees, suppliers, and customers 
E)  the Internet

Question 3

The Chilliwack Volunteer Fire Department is selling cookbooks as a fundraiser. Each cookbook costs $3 to produce, and total fixed costs are $400. If the cookbooks sell for $8 each, how many have to be sold to break even?

Accepted Answer

A)  50 
B)  75 
C)  80 
D)  100 
E)  200 
A)  50 
B)  75 
C)  80 
D)  100 
E)  200

Question 4

Which of the following is a requirement of linear programming?

Accepted Answer

A)  abundant resources 
B)  The goal must be outcome optimization. 
C)  There must be only one way to combine resources. 
D)  There must be a nonlinear relationship between variables. 
E)  A change in one variable must be accompanied by a greater change in the other. 
A)  abundant resources 
B)  The goal must be outcome optimization. 
C)  There must be only one way to combine resources. 
D)  There must be a nonlinear relationship between variables. 
E)  A change in one variable must be accompanied by a greater change in the other.

Question 5

Jill is worried that her company may not have sufficient funds to cover projected expenses. She needs to analyze the __________ budget.

Accepted Answer

A)  expense 
B)  profit 
C)  revenue 
D)  variable 
E)  cash 
A)  expense 
B)  profit 
C)  revenue 
D)  variable 
E)  cash

Question 6

Quantitative forecasting applies a set of mathematical rules to __________.

Accepted Answer

A)  develop predictions of outcomes from customers' opinions 
B)  a series of past data to predict outcomes 
C)  support the opinions of experts 
D)  estimate the number of products that should be produced at a given time 
E)  combine estimates from sales personnel of customers' expected purchases 
A)  develop predictions of outcomes from customers' opinions 
B)  a series of past data to predict outcomes 
C)  support the opinions of experts 
D)  estimate the number of products that should be produced at a given time 
E)  combine estimates from sales personnel of customers' expected purchases

Question 7

Research has shown that companies with advanced environmental scanning systems have __________.

Accepted Answer

A)  lower rates of employee turnover 
B)  lower rates of business failure 
C)  faster market reaction times 
D)  increased profits and revenue growth 
E)  higher product manufacturing costs 
A)  lower rates of employee turnover 
B)  lower rates of business failure 
C)  faster market reaction times 
D)  increased profits and revenue growth 
E)  higher product manufacturing costs

Question 8

A __________ is a flow chart diagram that depicts the sequence of activities needed to complete a project and the time or costs associated with each activity.

Accepted Answer

A)  Gantt chart 
B)  decision tree 
C)  load chart 
D)  linear program 
E)  PERT network 
A)  Gantt chart 
B)  decision tree 
C)  load chart 
D)  linear program 
E)  PERT network

Question 9

Competitor intelligence experts suggest that 80 percent of what managers need to know about competitors can be found out from their own employees, suppliers, and customers.

Accepted Answer

A) True 
 B)False

Question 10

Searching for the best practices among competitors or noncompetitors that lead to their superior performance is called __________.

Accepted Answer

A)  corporate espionage 
B)  environmental scanning 
C)  substitution effect 
D)  competitive intelligence 
E)  benchmarking 
A)  corporate espionage 
B)  environmental scanning 
C)  substitution effect 
D)  competitive intelligence 
E)  benchmarking

Question 11

The critical path is the shortest sequence of events in a PERT network.

Accepted Answer

A) True 
 B)False

Question 12

A competitor's advertisements, want ads, and corporate website can all serve as good sources of competitive intelligence.

Accepted Answer

A) True 
 B)False

Question 13

In order to compute the breakeven point, a manager needs to know the unit price of the product being sold, the variable cost per unit, and __________.

Accepted Answer

A)  total number of units sold 
B)  manufacturing costs per unit 
C)  total fixed costs 
D)  total variable costs 
E)  total manufacturing costs 
A)  total number of units sold 
B)  manufacturing costs per unit 
C)  total fixed costs 
D)  total variable costs 
E)  total manufacturing costs

Question 14

Refer to the scenario below to answer the following questions.
Forecasting (Scenario)
Imagine that you are a manager in the construction industry in Calgary, Alberta. Calgary has recently been experiencing rapid growth, bringing with it increased demand for construction services and more intense competition. The provincial government has been easing restrictions on public land use and has promoted a business-friendly environment to attract more corporations to the area. Furthermore, the oil business is booming, and there is a severe shortage of housing and worker accommodations in the oil-producing regions. However, you are also aware of how quickly these factors can change and the impact that a change in government or a decline in the price of oil can have on the construction industry. Given these considerations, you try to develop a forecast to help plan your company's future.
-You polled other managers to get their opinions about the future of the construction industry. You have used which forecasting technique?

Accepted Answer

A)  time series analysis 
B)  regression models 
C)  economic indicators 
D)  substitution effect 
E)  jury of opinion 
A)  time series analysis 
B)  regression models 
C)  economic indicators 
D)  substitution effect 
E)  jury of opinion

Question 15

__________ budget predicts future sales.

Accepted Answer

A)  expense 
B)  profit 
C)  revenue 
D)  variable 
E)  cash 
A)  expense 
B)  profit 
C)  revenue 
D)  variable 
E)  cash

Question 16

Benchmarking is a form of environmental scanning.

Accepted Answer

A) True 
 B)False

Question 17

Selena is manager of research and development at Mega Computers. She has asked her engineers to dismantle a competitor's latest computer model to gain a better understanding of its new technology. This is an example of __________.

Accepted Answer

A)  reverse engineering 
B)  corporate espionage 
C)  process reengineering 
D)  regression analysis 
E)  product deconstruction 
A)  reverse engineering 
B)  corporate espionage 
C)  process reengineering 
D)  regression analysis 
E)  product deconstruction

Question 18

To be effective, benchmarking standards must involve companies in the same industry.

Accepted Answer

A) True 
 B)False

Question 19

Refer to the scenario below to answer the following questions.
Scheduling Tools (Scenario)
Grace has just graduated from university and is totally overwhelmed by her first management job. When she was in school, she could work on projects one at a time; but now she must juggle several projects, each of which has multiple activities. Grace is amazed to find that her supervisor, Linda, has everything planned in a flow chart diagram. Linda's current project is to oversee the construction of an office building, and Grace is determined to understand all of the major activities and potential problems so that she can be more proactive.
-The time or resources that are required to progress from one event to another in Linda's flow chart are called __________.

Accepted Answer

A)  activities 
B)  events 
C)  load factors 
D)  slack time 
E)  milestones 
A)  activities 
B)  events 
C)  load factors 
D)  slack time 
E)  milestones

Question 20

Refer to the scenario below to answer the following questions.
Forecasting (Scenario)
Imagine that you are a manager in the construction industry in Calgary, Alberta. Calgary has recently been experiencing rapid growth, bringing with it increased demand for construction services and more intense competition. The provincial government has been easing restrictions on public land use and has promoted a business-friendly environment to attract more corporations to the area. Furthermore, the oil business is booming, and there is a severe shortage of housing and worker accommodations in the oil-producing regions. However, you are also aware of how quickly these factors can change and the impact that a change in government or a decline in the price of oil can have on the construction industry. Given these considerations, you try to develop a forecast to help plan your company's future.
-You try to predict next year's house sales by analyzing the sales data for the past five years. You have used which forecasting technique?

Accepted Answer

A)  time series analysis 
B)  regression models 
C)  economic indicators 
D)  substitution effect 
E)  jury of opinion 
A)  time series analysis 
B)  regression models 
C)  economic indicators 
D)  substitution effect 
E)  jury of opinion

Competitor intelligence seeks to identify competitors and assess the intellectual capital of their managers and employees.

Competitor intelligence experts suggest that 80 percent of what managers need to know about competitors can be found out from __________.

The Chilliwack Volunteer Fire Department is selling cookbooks as a fundraiser. Each cookbook costs $3 to produce, and total fixed costs are $400. If the cookbooks sell for $8 each, how many have to be sold to break even?

Which of the following is a requirement of linear programming?

Jill is worried that her company may not have sufficient funds to cover projected expenses. She needs to analyze the __________ budget.

Quantitative forecasting applies a set of mathematical rules to __________.

Research has shown that companies with advanced environmental scanning systems have __________.

A __________ is a flow chart diagram that depicts the sequence of activities needed to complete a project and the time or costs associated with each activity.

Competitor intelligence experts suggest that 80 percent of what managers need to know about competitors can be found out from their own employees, suppliers, and customers.

Searching for the best practices among competitors or noncompetitors that lead to their superior performance is called __________.

The critical path is the shortest sequence of events in a PERT network.

A competitor's advertisements, want ads, and corporate website can all serve as good sources of competitive intelligence.

In order to compute the breakeven point, a manager needs to know the unit price of the product being sold, the variable cost per unit, and __________.

__________ budget predicts future sales.

Benchmarking is a form of environmental scanning.

Selena is manager of research and development at Mega Computers. She has asked her engineers to dismantle a competitor's latest computer model to gain a better understanding of its new technology. This is an example of __________.

To be effective, benchmarking standards must involve companies in the same industry.

Introduction to Management and Organizations

Organizational Culture and the Organizational Environment

Managing in a Global Environment

Managing Entrepreneurially

Managing Responsibly and Ethically

Innovation and Adaptability

Decision Making

Foundations of Planning

Managing Strategically

Organizational Design

Managers and Communication

Managing Human Resources

Leadership

Motivating Employees

Managing Groups and Teams

Evidence-Based Decision Making

Management History

Managing Operations

Filters

Exam 18: Planning and Control Techniques

Competitor intelligence seeks to identify competitors and assess the intellectual capital of their managers and employees.

Competitor intelligence experts suggest that 80 percent of what managers need to know about competitors can be found out from __________.

The Chilliwack Volunteer Fire Department is selling cookbooks as a fundraiser. Each cookbook costs $3 to produce, and total fixed costs are $400. If the cookbooks sell for $8 each, how many have to be sold to break even?

Which of the following is a requirement of linear programming?

Jill is worried that her company may not have sufficient funds to cover projected expenses. She needs to analyze the __________ budget.

Quantitative forecasting applies a set of mathematical rules to __________.

Research has shown that companies with advanced environmental scanning systems have __________.

A __________ is a flow chart diagram that depicts the sequence of activities needed to complete a project and the time or costs associated with each activity.

Competitor intelligence experts suggest that 80 percent of what managers need to know about competitors can be found out from their own employees, suppliers, and customers.

Searching for the best practices among competitors or noncompetitors that lead to their superior performance is called __________.

The critical path is the shortest sequence of events in a PERT network.

A competitor's advertisements, want ads, and corporate website can all serve as good sources of competitive intelligence.

In order to compute the breakeven point, a manager needs to know the unit price of the product being sold, the variable cost per unit, and __________.

__________ budget predicts future sales.

Benchmarking is a form of environmental scanning.

Selena is manager of research and development at Mega Computers. She has asked her engineers to dismantle a competitor's latest computer model to gain a better understanding of its new technology. This is an example of __________.

To be effective, benchmarking standards must involve companies in the same industry.

Introduction to Management and Organizations

Organizational Culture and the Organizational Environment

Managing in a Global Environment

Managing Entrepreneurially

Managing Responsibly and Ethically

Innovation and Adaptability

Decision Making

Foundations of Planning

Managing Strategically

Organizational Design

Managers and Communication

Managing Human Resources

Leadership

Motivating Employees

Managing Groups and Teams

Evidence-Based Decision Making

Management History

Managing Operations

Filters