Ch. 4 Multiple Choice

question

A firm’s strengths that cannot be easily matched or imitated by competitors are called
answer

distinctive competencies
question

Who should perform an internal audit?
answer

Representative managers and employees from throughout the firm
question

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

Financial ratio analysis
question

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

organizational resources.
question

Organizational resources include all of the following EXCEPT
answer

employee training
question

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

not easily substitutable.
question

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
answer

organizational culture.
question

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

Emotions
question

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

ritual
question

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

Saga
question

Life-directing attitudes that serve as behavioral guidelines are called
answer

values
question

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

symbol
question

Metaphors are
answer

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

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

Planning
question

All of the following are basic duties of management EXCEPT
answer

consolidating
question

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

planning
question

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

organizing
question

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

top-level management
question

Synergy
answer

all of the above
question

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

organizing
question

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

organizing
question

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

motivating
question

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

communication
question

Staffing involves all of these activities EXCEPT
answer

customer analysis
question

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

Controlling
question

The first step in the controlling function of management is to
answer

establish performance standards.
question

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

Are the organization’s products positioned well against competing products?
question

Opportunity analysis is one of the basic functions of
answer

marketing
question

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

customer profiling
question

All of the following are basic functions of marketing EXCEPT
answer

value chain analysis
question

Selling includes all of these marketing activities EXCEPT
answer

customer analysis
question

One aspect of ads in a recession is that they
answer

take more direct aim at competitors.
question

What marketing function includes test marketing?
answer

Product/service planning
question

The Robinson-Patman Act affects a company’s
answer

pricing methods
question

Distribution includes
answer

warehousing
question

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

Does the firm have good liquidity?
question

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

investment
question

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?
answer

Financing
question

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

Liquidity
question

What category of ratios includes return on total assets and return on stockholders’ equity?
answer

profitability
question

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

Growth
question

Which ratio would be considered an activity ratio?
answer

average collection period
question

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

Times-interest-earned ratio
question

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

leverage ratio.
question

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

Transportation
question

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

Production/operations
question

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

operations
question

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

Singapore
question

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

All of the above
question

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

Information
question

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

all of the above
question

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

Data; information
question

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
answer

value chain analysis.
question

The initial step to implementing value chain analysis is
answer

dividing a firm’s operations into specific activities or business processes.
question

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

Identifying the organization’s strengths and weaknesses
question

The IFE Matrix should be ________ in multidivisional firms.
answer

constructed for each division

Get instant access to
all materials

Become a Member