Question 1

Quality management standards are process standards, not product standards.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following statements about the Delphi method is true?

Accepted Answer

A)  This method of forecasting is faster than brainstorming sessions. 
B)  It is good for predicting the changes in a particular industry that will come about from technology. 
C)  It cannot reduce the problem of groupthink unlike other forecasting methods. 
D)  It can occur only when all of the group is present in the same location.

Question 3

Brainstorming is a forecasting method in which a broad topic is set out and a discussion among the participants is utilized to gain insights into what the future may look like.

Accepted Answer

A) True 
 B)False

Question 4

The principal-principal problem occurs when employees do not do what is best for the shareholders.

Accepted Answer

A) True 
 B)False

Question 5

The department managers determine how to enact the mission, and determine what control actions are needed and when, where, and how to implement them in order to successfully complete the control process.

Accepted Answer

A) True 
 B)False

Question 6

Mention some of the criteria that successful firms utilize in their individual-level controls.

Accepted Answer

The answer of Mention some of the criteria that successful...

Question 7

A global firm might conduct a gap analysis on a small scale twice a year, and on a larger scale with middle managers meeting from around the world every one to two years.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following statements about financial controls is false?

Accepted Answer

A)  They include goals such as becoming the market leader in a given product-market. 
B)  They are often used by firms that have relied on unrelated diversification. 
C)  They focus on gaps between desired financial outcomes and those actually produced by a firm. 
D)  International firms that have a strict focus on only financial controls risk encouraging a short-term perspective.

Question 9

"Can the firm change positioning by moving upmarket?" should be evaluated at which level of a firm's environment?

Accepted Answer

A)  Internal systems 
B)  External environment 
C)  Technological advancements 
D)  Strategic environment

Question 10

Which of the following concerns operating a facility with strong concerns for pollution control and the environment?

Accepted Answer

A)  ISO 9000 
B)  ISO 14001 
C)  ISO 9001 
D)  ISO 27001

Question 11

One of the primary reasons for evaluation and control is that the firm's environment will change over time.

Accepted Answer

A) True 
 B)False

Question 12

_____ is a forecasting method in which a broad topic is set out and a discussion among the participants is utilized to gain insights into what the future may look like.

Accepted Answer

A)  Scenario planning 
B)  Brainstorming 
C)  Mind mapping 
D)  Balanced Scorecard

Question 13

Write a short note on ISO 9000.

Accepted Answer

The answer of Write a short note on ISO 9000....

Question 14

Which of the following occurs when a firm tries to increase its ROI by simply reducing the denominator while holding or increasing the numerator constant?

Accepted Answer

A)  Reengineering 
B)  Emergent strategy 
C)  Numerator management 
D)  Denominator management

Question 15

The decline in the value of the U.S. dollar and the rise in the value of the Euro has affected many exporters. This example shows that a firm's current status is affected by its:

Accepted Answer

A)  strategic environment. 
B)  internal systems. 
C)  external environment. 
D)  technological advancements.

Question 16

The easiest method to build forecasts of the future is simply scanning the environment for changes along the external, strategic, and internal dimensions.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following statements about the first step in gap analysis is true?

Accepted Answer

A)  An evaluation at this stage should include qualitative elements only. 
B)  The firm needs to periodically evaluate where it stands relative to its expectations. 
C)  The goals and objectives typically include only short-term time frames. 
D)  It is the evaluation of the firm's future direction and its industry.

Question 18

Which of the following is a forecasting method where participants are given potential situations and then asked to build likely responses and outcomes for the business?

Accepted Answer

A)  Case study 
B)  Reengineering 
C)  Scenario planning 
D)  Brainstorming

Question 19

The board of directors:

Accepted Answer

A)  helps to establish control mechanisms and guide how the firm will respond to major changes in its environment. 
B)  should be involved even with the relatively minor variances between expected and actual results. 
C)  have a legal responsibility to ensure that top managements' best interests are served by the company. 
D)  is a group of individuals appointed by a firm's top management to supervise a firm's activities and its shareholders.

Question 20

Which of the following is a system that summarizes an organization's strategic objectives into four main performance metrics: financial, internal processes, customers, and learning and growth?

Accepted Answer

A)  ISO 9000 
B)  Delphi method 
C)  Balanced Scorecard 
D)  Quality circles

Exam 11: Evaluation and Control

Quality management standards are process standards, not product standards.

Which of the following statements about the Delphi method is true?

Brainstorming is a forecasting method in which a broad topic is set out and a discussion among the participants is utilized to gain insights into what the future may look like.

The principal-principal problem occurs when employees do not do what is best for the shareholders.

The department managers determine how to enact the mission, and determine what control actions are needed and when, where, and how to implement them in order to successfully complete the control process.

Mention some of the criteria that successful firms utilize in their individual-level controls.

A global firm might conduct a gap analysis on a small scale twice a year, and on a larger scale with middle managers meeting from around the world every one to two years.

Which of the following statements about financial controls is false?

"Can the firm change positioning by moving upmarket?" should be evaluated at which level of a firm's environment?

Which of the following concerns operating a facility with strong concerns for pollution control and the environment?

One of the primary reasons for evaluation and control is that the firm's environment will change over time.

_____ is a forecasting method in which a broad topic is set out and a discussion among the participants is utilized to gain insights into what the future may look like.

Write a short note on ISO 9000.

Which of the following occurs when a firm tries to increase its ROI by simply reducing the denominator while holding or increasing the numerator constant?

The decline in the value of the U.S. dollar and the rise in the value of the Euro has affected many exporters. This example shows that a firm's current status is affected by its:

The easiest method to build forecasts of the future is simply scanning the environment for changes along the external, strategic, and internal dimensions.

Which of the following statements about the first step in gap analysis is true?

Which of the following is a forecasting method where participants are given potential situations and then asked to build likely responses and outcomes for the business?

The board of directors:

Which of the following is a system that summarizes an organization's strategic objectives into four main performance metrics: financial, internal processes, customers, and learning and growth?