Which is the best question to ask to start the strategic management process?

Which is the best question to ask to start the strategic management process?

(a) "What is our mission?"
(b) "How well are we currently doing?"
(c) "How can we get where we want to be?"
(d) "Why aren't we doing better?"





Answer: A

Among the financial ratios often used for control purposes, Current Assets/Current Liabilities is known as the ____________.

Among the financial ratios often used for control purposes, Current Assets/Current Liabilities is known as the ____________.

(a) debt ratio
(b) net margin
(c) current ratio
(d) inventory turnover ratio








Answer: C

In a CPM/PERT analysis, the focus is on ____________ and the event ____________ that link them together with the finished project.

In a CPM/PERT analysis, the focus is on ____________ and the event ____________ that link them together with the finished project.

(a) costs; budgets
(b) activities; sequences
(c) timetables; budgets
(d) goals; costs







Answer: B

In CPM/PERT, "CPM" stands for ____________.

In CPM/PERT, "CPM" stands for ____________.

(a) critical path method
(b) control planning management
(c) control plan map
(d) current planning matrix







Answer: A

When one team member advises another team member that "your behavior is crossing the line in terms of our expectations for workplace civility," she is exercising a form of ________ control over the other person's inappropriate behaviors.

When one team member advises another team member that "your behavior is crossing the line in terms of our expectations for workplace civility," she is exercising a form of ________ control over the other person's inappropriate behaviors.

(a) clan
(b) market
(c) internal
(d) preliminary








Answer: A

When a supervisor works alongside an employee and corrects him or her immediately when a mistake is made, this is an example of ____________ control.

When a supervisor works alongside an employee and corrects him or her immediately when a mistake is made, this is an example of ____________ control.

(a) feedforward
(b) external
(c) concurrent
(d) preliminary








Answer: C

If an organization's top management establishes a target of increasing new hires of minority and female candidates by 15% in the next six months, this is an example of a/an ____________ standard for control purposes.

If an organization's top management establishes a target of increasing new hires of minority and female candidates by 15% in the next six months, this is an example of a/an ____________ standard for control purposes.

(a) input
(b) output
(c) clan
(d) market









Answer: B

A team leader is not living up to the concept of MBO if he or she ____________.

A team leader is not living up to the concept of MBO if he or she ____________.

(a) sets performance objectives for individual team members
(b) stays in touch and tries to support team members in their work
(c) jointly reviews performance results wiTheach team member
(d) keeps a written record of performance objectives for team members








Answer: A

A good performance objective is written in such a way that it ____________.

A good performance objective is written in such a way that it ____________.

(a) has a flexible timetable
(b) is general and not too specific
(c) is impossible to accomplish
(d) can be easily measured







Answer: D

When MBO is done right, who does the review of a team member's performance accomplishments?

When MBO is done right, who does the review of a team member's performance accomplishments?

(a) The team member
(b) The team leader
(c) Both the team member and team leader
(d) The team leader, the team member, and a lawyer










Answer: C

The ____________ chart graphically displays the scheduling of tasks required to complete the project.

The ____________ chart graphically displays the scheduling of tasks required to complete the project.

(a) exception
(b) Taylor
(c) Gantt
(d) after-action







Answer: C

A total quality management program is most likely to be associated with ____________.

A total quality management program is most likely to be associated with ____________.

(a) EOQ
(b) continuous improvement
(c) return on equity
(d) breakeven analysis








Answer: B

Management by exception means ____________.

Management by exception means ____________.

(a) managing only when necessary
(b) focusing attention where the need for action is greatest
(c) the same thing as concurrent control
(d) the same thing as just-in-time delivery








Answer: B

When an automobile manufacturer is careful to purchase only the highest-quality components for use in production, this is an example of an attempt to ensure high performance through ____________ control.

When an automobile manufacturer is careful to purchase only the highest-quality components for use in production, this is an example of an attempt to ensure high performance through ____________ control.

(a) concurrent
(b) statistical
(c) inventory
(d) feedforward







Answer: D

When a soccer coach tells her players at the end of a losing game, "You did well in staying with our game plan," she is using a/an ____________ as a measure of performance.

When a soccer coach tells her players at the end of a losing game, "You did well in staying with our game plan," she is using a/an ____________ as a measure of performance.

(a) input standard
(b) output standard
(c) historical comparison
(d) relative comparison







Answer: A

After objectives and standards are set, what step comes next in the control process?

After objectives and standards are set, what step comes next in the control process?

(a) Measure results.
(b) Take corrective action.
(c) Compare results with objectives.
(d) Modify standards to fit circumstances.








Answer: A

The planning process isn't complete until _________.

The planning process isn't complete until _________.

(a) future conditions have been identified
(b) stretch goals have been set
(c) plans are implemented and results evaluated
(d) budgets commit resources to plans







Answer: C

The best planning goals or objectives would have which of the following characteristics?

The best planning goals or objectives would have which of the following characteristics?

(a) Easy enough so that no one fails to reach them
(b) Realistic and possible to achieve, while still challenging
(c) Open ended, with no clear end point identified
(d) No set timetable or due dates







Answer: B

A marketing plan in a business firm would most likely deal with _________.

A marketing plan in a business firm would most likely deal with _________.

(a) production methods and technologies
(b) money and capital investments
(c) facilities and workforce recruiting
(d) sales and product distribution







Answer: B

From a time management perspective, which manager is likely to be in best control of his or her time? One who _________.

From a time management perspective, which manager is likely to be in best control of his or her time? One who _________.

(a) tries to never say "no" to requests from others
(b) works on the most important things first
(c) immediately responds to instant messages
(d) always has "an open office door"







Answer: B