Question 1

A firm\'s strengths that cannot be easily matched or imitated by competitors are called

Accepted Answer

distinctive competencies

Question 2

Who should perform an internal audit?

Accepted Answer

Representative managers and employees from throughout the firm

Question 3

________ exemplifies the complexity of relationships among the functional areas of business.

Accepted Answer

Financial ratio analysis

Question 4

The three all-encompassing internal resource categories used in the Resource-Based View are physical resources, human resources, and

Accepted Answer

organizational resources.

Question 5

Organizational resources include all of the following EXCEPT

Accepted Answer

employee training

Question 6

Empirical indicators are resources that are either rare, hard to imitate, or

Accepted Answer

not easily substitutable.

Question 7

A pattern of behavior developed by an organization as it learns to cope with its problems of external adaptation and internal integration, and that has worked well enough to be considered valid and to be taught to new members as the correct way to perceive, think, and feel is called

Accepted Answer

organizational culture.

Question 8

Which of the following were NOT mentioned as an example of cultural products?

Accepted Answer

Emotions

Question 9

A standardized set of behaviors used to manage anxieties is called a

Accepted Answer

ritual

Question 10

What is the term for a historical narrative describing the unique accomplishments of a group and its leaders?

Accepted Answer

Saga

Question 11

Life-directing attitudes that serve as behavioral guidelines are called

Accepted Answer

values

Question 12

Any object, act, event, quality, or relation used to convey meaning is known as a

Accepted Answer

symbol

Question 13

Metaphors are

Accepted Answer

shorthand of words used to capture a vision or to reinforce old or new values.

Question 14

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

Accepted Answer

Planning

Question 15

All of the following are basic duties of management EXCEPT

Accepted Answer

consolidating

Question 16

Which of the following does the text call an up-front investment in success?

Accepted Answer

planning

Question 17

Which function of management includes areas such as job design, job specification, job analysis, and unity of command?

Accepted Answer

organizing

Question 18

Who does a planning horizon of two to five years apply to?

Accepted Answer

top-level management

Question 19

Synergy

Accepted Answer

all of the above

Question 20

Which management function includes breaking tasks into jobs, combining jobs to form departments, and delegating authority?

Accepted Answer

organizing

Question 21

Which function of management is concerned with span of control and chain of command?

Accepted Answer

organizing

Question 22

Which of the following is the process of influencing people to accomplish specific objectives?

Accepted Answer

motivating

Question 23

________, perhaps the most important word in management, is a major component in motivation.

Accepted Answer

communication

Question 24

Staffing involves all of these activities EXCEPT

Accepted Answer

customer analysis

Question 25

Which function of management includes all of those activities undertaken to ensure actual operations conform to planned operations?

Accepted Answer

Controlling

Question 26

The first step in the controlling function of management is to

Accepted Answer

establish performance standards.

Question 27

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

Accepted Answer

Are the organization\'s products positioned well against competing products?

Question 28

Opportunity analysis is one of the basic functions of

Accepted Answer

marketing

Question 29

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

Accepted Answer

customer profiling

Question 30

All of the following are basic functions of marketing EXCEPT

Accepted Answer

value chain analysis

Question 31

Selling includes all of these marketing activities EXCEPT

Accepted Answer

customer analysis

Question 32

One aspect of ads in a recession is that they

Accepted Answer

take more direct aim at competitors.

Question 33

What marketing function includes test marketing?

Accepted Answer

Product/service planning

Question 34

The Robinson-Patman Act affects a company\'s

Accepted Answer

pricing methods

Question 35

Distribution includes

Accepted Answer

warehousing

Question 36

Which of the following is NOT a key question that can reveal internal strengths and weaknesses of the marketing department?

Accepted Answer

Does the firm have good liquidity?

Question 37

The ________ decision is the allocation and reallocation of capital and resources to projects, products, assets, and divisions of an organization.

Accepted Answer

investment

Question 38

Which of the three finance/accounting decisions concerns determining the best capital structure for the firm and includes examining various methods by which the firm can raise capital?

Accepted Answer

Financing

Question 39

What category of ratios measures a firm\'s ability to meet maturing short-term obligations?

Accepted Answer

Liquidity

Question 40

What category of ratios includes return on total assets and return on stockholders\' equity?

Accepted Answer

profitability

Question 41

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

Accepted Answer

Growth

Question 42

Which ratio would be considered an activity ratio?

Accepted Answer

average collection period

Question 43

Which ratio is calculated by dividing profits before interest and taxes by total interest charges?

Accepted Answer

Times-interest-earned ratio

Question 44

The times-interest-earned ratio would be classified as a(n)

Accepted Answer

leverage ratio.

Question 45

According to Roger Schroeder, which basic function within production/operations deals with aggregate planning and scheduling?

Accepted Answer

Transportation

Question 46

________ management deals with inputs, transformations, and outputs that vary across industries and markets.

Accepted Answer

Production/operations

Question 47

In most industries, the major costs of producing a product or service are incurred within

Accepted Answer

operations

Question 48

Where is the largest seaport, in terms of ship container traffic processed annually?

Accepted Answer

Singapore

Question 49

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

Accepted Answer

All of the above

Question 50

________ ties all business functions together and provides the basis for all managerial decisions.

Accepted Answer

Information

Question 51

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

Accepted Answer

all of the above

Question 52

________ become(s) ________ only when evaluated, filtered, condensed, analyzed, and organized for a specific purpose, problem, individual, or time.

Accepted Answer

Data; information

Question 53

The process whereby a firm determines the costs associated with organizational activities from purchasing raw materials to manufacturing products to marketing those products is called

Accepted Answer

value chain analysis.

Question 54

The initial step to implementing value chain analysis is

Accepted Answer

dividing a firm\'s operations into specific activities or business processes.

Question 55

Which of the following is the first step in developing an IFE Matrix?

Accepted Answer

Identifying the organization\'s strengths and weaknesses

Question 56

The IFE Matrix should be ________ in multidivisional firms.

Accepted Answer

constructed for each division

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