Question 1

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

Accepted Answer

A)   Marketing
B)   Financial
C)   Research and Development
D)   Production/operations
E)   Distribution

Question 2

A new trend is to base advertising rates solely on sales rates with regard to advertising products or services on the Internet.

Accepted Answer

A) True 
 B)False

Question 3

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

A)   the resource-based approach.
B)   value chain analysis.
C)   strategic cost analysis.
D)   the internal factor evaluation matrix.
E)   cost-benefit analysis

Question 4

Life-directing attitudes that serve as behavioral guidelines are called

Accepted Answer

A)   values.
B)   rites.
C)   beliefs
D)   metaphors
E)   legend

Question 5

Selling includes all of these marketing activities except:

Accepted Answer

A)   advertising.
B)   dealer relations.
C)   customer analysis.
D)   publicity.
E)   sales promotion

Question 6

Capacity decisions concern the design of the physical production system.

Accepted Answer

A) True 
 B)False

Question 7

Dividend decisions concern issues such as the percentage of earnings paid to stockholders, the stability of dividends paid over time and the repurchase or issuance of stock.

Accepted Answer

A) True 
 B)False

Question 8

The initial step to implementing value chain analysis is

Accepted Answer

A)   attaching a cost to each discrete activity.
B)   establishing costs in terms of time.
C)   establishing costs in terms of money.
D)   converting the cost data into information by looking for competitive cost strengths and weaknesses.
E)   dividing a firm's operations into specific activities or business processes

Question 9

In most industries, only minor costs of producing a product or service are incurred within operations, so production/operations does not have great value as a competitive weapon in a company's overall strategy.

Accepted Answer

A) True 
 B)False

Question 10

A pattern of behavior developed by an organization as it learns to cope with its problems of external adaptation and internal integration 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

A)   dysfunctional behavior.
B)   groupthink.
C)   behavior modification.
D)   organizational culture.
E)   internal audit effect

Question 11

The controlling function of management is synonymous to strategy formulation.

Accepted Answer

A) True 
 B)False

Question 12

A ritual is a standardized, detailed set of techniques and behaviors that manage anxieties but seldom produce intended, technical consequences of practical importance.

Accepted Answer

A) True 
 B)False

Question 13

Organizing is the cornerstone of effective strategy formulation.

Accepted Answer

A) True 
 B)False

Question 14

In China, to show that you enjoyed your meal, you should completely finish your food.

Accepted Answer

A) True 
 B)False

Question 15

Total assets turnover ratio is calculated by dividing sales by fixed assets.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A)   Determining the organization's structure
B)   Summing the weighted scores for each variable
C)   Identifying the organization's strengths and weaknesses
D)   Identifying the organization's functions of business
E)   Determining the lead strategist

Question 17

The U.S. understanding of Far Eastern cultures is a strength its firms have in competing with Pacific Rim firms.

Accepted Answer

A) True 
 B)False

Question 18

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

Accepted Answer

A)   Government audit
B)   External audit
C)   Financial ratio analysis
D)   Environmental scanning
E)   Distribution strategy

Question 19

Linkages between a firm's culture and strategies often determine success.

Accepted Answer

A) True 
 B)False

Question 20

Distribution involves warehousing, marketing research, distribution channels, wholesaling and retailing.

Accepted Answer

A) True 
 B)False

Exam 4: The Internal Assessment

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

Correct AnswerverifiedShow Answer

Dividend decisions concern issues such as the percentage of earnings paid to stockholders, the stability of dividends paid over time and the repurchase or issuance of stock.

Correct AnswerverifiedShow Answer

In most industries, only minor costs of producing a product or service are incurred within operations, so production/operations does not have great value as a competitive weapon in a company's overall strategy.

Correct AnswerverifiedShow Answer

A new trend is to base advertising rates solely on sales rates with regard to advertising products or services on the Internet.

Correct AnswerverifiedShow Answer

A ritual is a standardized, detailed set of techniques and behaviors that manage anxieties but seldom produce intended, technical consequences of practical importance.

Correct AnswerverifiedShow Answer

Organizing is the cornerstone of effective strategy formulation.

Correct AnswerverifiedShow Answer

The controlling function of management is synonymous to strategy formulation.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Total assets turnover ratio is calculated by dividing sales by fixed assets.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Selling includes all of these marketing activities except:

Correct AnswerverifiedShow Answer

Distribution involves warehousing, marketing research, distribution channels, wholesaling and retailing.

Correct AnswerverifiedShow Answer

The U.S. understanding of Far Eastern cultures is a strength its firms have in competing with Pacific Rim firms.

Correct AnswerverifiedShow Answer

A pattern of behavior developed by an organization as it learns to cope with its problems of external adaptation and internal integration 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

Correct AnswerverifiedShow Answer

In China, to show that you enjoyed your meal, you should completely finish your food.

Correct AnswerverifiedShow Answer

Linkages between a firm's culture and strategies often determine success.

Correct AnswerverifiedShow Answer

Capacity decisions concern the design of the physical production system.

Correct AnswerverifiedShow Answer

Life-directing attitudes that serve as behavioral guidelines are called

Correct AnswerverifiedShow Answer

The initial step to implementing value chain analysis is

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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