1. Because practical considerations make job tryouts for all candidates infeasible, it is necessary to __________ the relative level of job performance for each candidate on the basis of available information. predict accept assign abandon 2. Some studies indicate the best approach for transformational change may have the chief executive officer create an atmosphere for change but let others decide how to initiate change and begin establishing a vision but carefully set limits for the program and establish a reward system Click here to download 3. Which of the following is a desirable strategy for managers aiming to reduce the negative consequences of rumors? Initiating disciplinary action against the employee who started the rumor Encouraging employees to communicate their concerns and suggestions Creating a more informal communication environment at the workplace Refusing to comment on issues that appear to be controversial and unfair 4. A project can be segmented into which of the following? Work packages Success markers Sub-jobs Events 5. Which of the following is an element that addresses elimination of waste under lean production? Group plant loading technology Minimized run times Production ahead of demand Kanban production control system 6. The Civil Rights Act of 1991 offered what for victims of unintentional discrimination? race norming adverse impact affirmative action monetary damages and jury trials 7. Active listening requires: summarizing all areas of the performance-interview feedback discussion. verbal communications only summarizing only the areas of agreement interruptions to get your point across 8. Which of the following is ISO 14000 primarily concerned with? Time management Quality management Environmental management Continuous improvement management 9. Training that results in ______ is costly because of the cost of training (which proved to be useless) and the cost of hampered performance. negative transfer of training applicability of training reinforcement of training simulation of training 10. As a university student, your institution’s social principles and practices reflect on you, as a stakeholder, in the organization. Therefore, it is your right to question how these practices should be evaluated in relation to the social issues that the school is addressing. If your university provides job-share programs, builds a day-care facility, and only uses recycled paper, it could be said to be ________. fulfilling its social obligation socially image conscious socially responsive socially aware 11. According to the job characteristics model, autonomy is defined as the degree to which a job requires completion of a whole and identifiable piece of work a job has an impact on the lives or work of other people a job generates direct and clear information about performance a job provides the worker freedom, independence, and discretion 12. Which of the following is considered a major process flow structure? Lean Manufacturing Project Lead Time Fabrication 13. An example of control criteria that can be used in any situation is ________. employee satisfaction average time to process paperwork client requests completed per hour number of calls taken per day 14. What can affirmative action assist organizations in achieving that diversity initiatives cannot? Maximizing creativity Maximizing workforce commitment Correcting specific problems of the past Increased productivity 15. Adoration of a charismatic leader by followers can lead to greater understanding of the company mission difficulty in developing a successor a competitive work environment limiting suggestions of fixes and improvements 16. Which of the following is considered an organizational blueprint, which prescribes the quantity and time frame for when each end product will be assembled? WBS (Work Breakdown Structure) MRP (Material Requirements Plan) ERP (Enterprise Resource Planning) MPS (Master Production Schedule) 17. In performing a SWOT analysis, which of the following would be considered as a threat? Lack of a strategic plan Competitors Recognized brand Increased product demand 18. When an employee volunteers to run a canned food drive, this is an example of employee happiness employee productivity organizational citizenship behavior job satisfaction 19. Conflicts can be resolved by withdrawing from them or suppressing them. This conflict-management technique is known as ________. compromising forcing accommodating avoiding 20. Sam Meyers manages a telemarketing call center. He has 20 employees working for him who are displeased with the way he yells and threatens to terminate them for what they see as small issues. Which kind of power is Sam using to get the job done? Reward power Referent power Coercive power Legitimate power 21. In _____, workers have been fired for refusing to quit smoking, for living with someone without being married, drinking a competitor’s product, motorcycling, and other legal activities outside of work. invasion of privacy lifestyle discrimination defamation constructive discharge 22. Mary arrives at her new job. Before she can begin actually doing the work, she must complete a series of activities including role playing and virtual reality interactions. What type of training method does Mary’s new employer use? Simulation Information presentation On-the-job training Organizational development 23. Which of the following is one of Dr. Eli Goldratt’s rules of production scheduling for optimized production technology? Utilization and activation of a resource are not the same. If you lose an hour at a bottleneck it is better than making scrap. An hour saved at a bottleneck operation does not increase the process flow. Do not allow bottlenecks to govern the flow of the line. 24. Deming’s PDCA (plan, do, check, and act) cycle underlies what inherent Six Sigma principle? Standard deviation Project management Control charting Continuous improvement 25.________ refers to an individual’s belief that he or she is capable of performing a task. Emotional contagion Self-determination Self-efficacy Affect intensity 26.____________ is the biggest hurdle to overcome in a pay-for-performance plan. Inflation Merit-pay increases Salary cap performance level Compensation equation 27. In order to make their firm a learning organization, managers should avoid the use of cross-functional teams penalize mistakes reinforce interdependence and reduce boundaries increase the degree of departmentalization 28. During the implementation of a project, which of the following should be the primary focus of a consulting firm? People management skills Application of the learning curve theory The correct project software Tools and materials availability 29. The concept that some leadership attributes will work in some situations but not in others can be described by the leadership effectiveness theory behavioral theory contingency theory tactical theory 30. Which of the following statements is true with regard to the effectiveness of tactics? All tactics are equally effective with regard to upward influence. Individuals from collectivist cultures are typically more likely to use soft tactics that reflect personal power. Soft tactics are less effective than hard tactics when used individually The combination of a soft tactic with reasonable persuasion is more effective than a combination of two hard tactics.
P2?6A Condensed balance sheet and income statement data for Sievert Corporation are presented here and on the next page. SIEVERT CORPORATION Balance SheetsDecember 31 Assets 2012 2011 Cash $ 28,000 $ 20,000 Receivables (net) 70,000 62,000 Other current assets 90,000 73,000 Long-term investments 62,000 60,000 Plant and equipment (net) 510,000 470,000 Total assets $760,000 $685,000 Liabilities and Stockholders’ Equity Current liabilities $ 75,000 $ 70,000 Long-term debt 80,000 90,000 Common stock 330,000 300,000 Retained earnings 275,000 225,000 Total liabilities and stockholders’ equity $760,000 $685,000 SIEVERT CORPORATIONIncome StatementsFor the Years Ended December 31 2012 2011 Sales $750,000 $680,000 Cost of goods sold 440,000 400,000 Operating expenses (including income taxes) 240,000 220,000 Net income $ 70,000 $ 60,000 Additional information: Cash from operating activities $82,000 $56,000 Cash used for capital expenditures $45,000 $38,000 Dividends paid $20,000 $15,000 Average number of shares outstanding 33,000 30,000 Compute and interpret liquidity, solvency, and profitability ratios.(SO 2, 4, 5), AP Instructions Compute these values and ratios for 2011 and 2012. Earnings per share. Working capital. Current ratio. Debt to total assets ratio. Free cash flow. Based on the ratios calculated, discuss briefly the improvement or lack thereof in financial position and operating results from 2011 to 2012 of Sievert Corporation.
P21-4 The following facts pertain to a noncancelable lease agreement between Alschuler Leasing Company and McKee Electronics, a lessee, for a computer system. Inception date: October 1, 2014 Lease term: 6 years Economic life of lease equipment: 6 years Fair value of asset at October 1, 2014: $300,383 Residual value at end of lease term: 0 Lessor’s implicit rate: 10% Lessee’s incremental borrowing rate: 10% Annual lease payment due at the beginning of each year, beginning with October 1, 2014: $62,700 The collectibility of the lease payments is reasonably predictable, and there are no important uncertainties surrounding the costs yet to be incurred by the lessor. The lessee assumes responsibility for all executory costs, which amount to $5,500 per year, and are paid each October 1, beginning October 1, 2014. (This $5,500 is not included in the rental payment of $62,700.) The asset will revert to the lessor at the end of the lease term. The straight-line depreciation method is used for all equipment. The following amortization schedule has been prepared correctly for use by both the lessor and the lessee in accounting for this lease. The lease is to be accounted for properly as a capital lease by the lessee and as a direct-finance lease by the lessor. Date: Annual lease Payment / Receipt: Interest (10%) on Unpaid Liabililty / Receivable: Reduction of Lease Liability / Receivable: Balance of Lease Liability / Receivable:1 0/01/14 300,383 10/01/14 62,700 62,700 237,683 10/01/15 62,700 23,768 38,932 198,751 10/01/16 62,700 19,875 42,825 155,926 10/01/17 62,700 15,593 47,107 108,819 10/01/18 62,700 10,882 51,818 57,001 10/01/19 62,700 5,699 57,001 0376,200 75,817 300,383 *Rounding error is $1 at 10/01/19 for Interest on Unpaid Liability/Receivable. Instructions: (Round to whole dollars.) (a) Assuming the lessee’s accounting period ends on September 30, answer the following questions with respect to this lease agreement: (1) What items and amounts will appear on the lessee’s income statement for the year ending September 30, 2015? (2) What items and amounts will appear on the lessee’s balance sheet at September 30, 2015? (3) What items and amounts will appear on the lessee’s income statement for the year ending September 30, 2016? (4) What items and amounts will appear on the lessee’s balance sheet at September 30, 2016? (b) Assuming the lessee’s accounting period ends on December 31, answer the following questions with respect to this lease agreement: (1) What items and amounts will appear on the lessee’s income statement for the year ending December 31, 2014? (2) What items and amounts will appear on the lessee’s balance sheet at December 31, 2014? (3) What items and amounts will appear on the lessee’s income statement for the year ending December 31, 2015? (4) What items and amounts will appear on the lessee’s balance sheet at December 31, 2015?
10-2 The following are selected items from the accounting records of Seattle Chocolates for the year ended December 31, 2002: Note payable to northwest Bank $500,000 Income taxes payable 40,000 Accrued expenses and payroll taxes 60,000 Mortgage note payable 750,000 Accrued interest on mortgage note payable 5,000 Trade accounts payable 250,000 unearned revenue 15,000 Potential liability in pending lawsuit 100,000 Other information 1. The note payable to Northwest Bank is due in 60 days. Arrangement have been made to renew this note for an additional 12 months 2. The mortgage requires payments of $6,000 per month. An amortization table shows that its balance will be paid down to $739,000 by December 31, 2003. 3. Accrued interest on the mortgage note payable is paid monthly. The next payment is due near the end of the first week in January 2003. 4. Seattle Chocolates has been sued for $100,000 in a contract dispute. It is not possible at this time, however, to make a reasonable estimate of the possible loss, if any, that the company may have sustained.
Excel Problems P21-20ADoggy world operatesP21-21AThe budget committee of Clipboard Office SupplyP21-22AClipboard Office Supply’s sales are 75% Complete problems P21-20A (p. 1121), P21-21A (p. 1122), and P21-22A (p.1123) in your textbook. Present your analysis of the assigned problems in Excel format. Enter non-numerical responses in the same worksheet using textboxes. Attached are the case studies and its working spread sheets that goes together. P21-20A Doggy world operates a chain of pair store in the Midwest. The manager of each store reports to the regional manager, who, in turn, reports to the headquarters in the Milwaukee, Wisconsin. The actual income statements for the Dayton store, the Ohio region (include the Dayton store), and the company as a whole (including the Ohio region) for July 2011 are as follows: DOGGY WORLDIncome statementFor the month ended July 31, 2011 Dayton Ohio Companywide Revenue $158,400 $1,760,000 $4,400,000 Expense: Regional manager/headquarters office $ —- $58,000 $122,000 Cost of materials 85,536 880,000 1,760,000 Salary expense 41,184 440,000 1,100,000 Depreciation expense 7,800 91,000 439,000 Utility expense 4,000 46,600 264,000 Rent expense 2,500 34,500 178,000 Total expenses 141,020 1,550,100 3,863,000 Operating income $17,380 $209,900 $537,000 Budgeted amounts for July were as follows: DOGGY WORLDIncome statementFor the month ended July 31, 2011 Dayton Ohio Companywide Revenue 173,400 1,883,000 4,650,000 Expense: Regional manager/headquarters office —- 64,600 124,000 Cost of materials 91,902 1,035,650 2,092,500 Salary expense 41,616 470,750 1,162,500 Depreciation expense 7,800 87,500 446,000 Utility expense 4,900 54,600 274,000 Rent expense 3,400 32,700 169,000 Total expenses 149,618 1,745,800 4,268,000 Operating income 23,782 137,200 382,000 Requirement Prepare a report for July 2011 that shows the performance of the Dayton store, the Ohio region, and the company as a whole . P21-21A The budget committee of Clipboard Office Supply has assembled the following data. As the business manager, you must prepare the budgeted income statements for May and June 2011. a. sales in April were $50,000. You forecast that monthly sales will increase 2.0% in May and 2.4% in June. b. clipboard maintains inventory of $9000 plus 25% of the sales revenue budgeted for the following month. Monthly purcahses average 50% of sales revenue for the same month. Actual inventory on April 30th was $13000. Sales budgeted for July are $65000 c monthly salaries amount to $3000. Sales commissions equal 4% of sales for that month. Combine salaries and commissions into a single figure.d. other monthly expenses arerent $2600 paid as incurred depreciation $300 insurance $200 expiration of prepaid amount income tax 20% of operating income. P21-22A Clipboard Office Supply’s sales are 75% cash and 25% credit. (Use the rounded sales values.) Credit sales are collected in the month after sale. Inventory purchases are paid 25% in the month of purchase and 75% the following month. Salaries and sales commissions are also paid half in the month earned and half the next month. Income tax is paid at the end of the year. The April 30, 2011, balance sheet showed the following balances:cash $25000accounts payable $53000Salaries and commissions payable $2500 Requirements R1. Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budgeted cash payments for operating expenses. Show amounts for each month and totals for May and June. Round your computations to the nearest dollar. Prepare a cash budget. If no financing activity took place, what is the budgeted cash balance on June 30, 2011?
1. The study of tissues is a. cytology b. histology c. molecular biology d. microbiology e. surface anatomy 2. In a negative feedback mechanism, the response of the effect or a. reverses the original stimulus b. enhances the original stimulus c. has no effect on the original stimulus d. is usually damaging to the body e. creates a cycle that leads away from homeostasis 3. Covalent bonds form when a. atomic nuclei fuse b. molecules become ionized c. neutrons are transferred from one atom to another d. protons are lost from atoms e. electrons are shared between two atoms 4. Reactions that use water to split molecules apart are called _______ reactions. a. dehydration b. synthesis c. hydrolysis d. reversible e. oxidation 5. Proteins a. are the body’s source of immediate energy b. are the building blocks of nucleotides c. provide much of the structure of body cells and tissues d. contain the genetic information of the cell e. insulate and cushion the body 6. The plasma membrane a. separates the nucleus from the rest of the cell b. is a rigid protein membrane c. is not permeable d. has a single layer of phospholipids e. regulates movement of materials into and out of the cell 7. Channel proteins a. are binding sites for other molecules b. utilize the G protein complex to function c. are found only on endoplasmic reticulum d. allow cells to recognize one another e. provide a “door” through which extracellular molecules can enter the cell 8. Which of the following is a function of epithelial tissue? a. conduction of action potentials b. secretion and absorption of molecules c. support of other tissue types d. contraction e. shock absorption 9. Adipose tissue a. functions as an insulator and a site of energy storage b. exists in three forms: yellow, red, and brown c. contains large amounts of extracellular matrix d. is composed of relatively small cells e. does not contain lipids 10. Skin color is the result of the a. quantity of melanin in the skin b. number of keratinocytes in the skin c. amount of fat in the hypodermis d. thickness of the stratum basale e. number of melanocytes in the skin 11. What does structure “B” represent on the diagram? a. hair follicle b. arrector pili c. dermis d. hypodermis e. sebaceous gland 12. When blood calcium levels are low a. osteoclast activity increases b. calcitonin secretion increases c. calcium absorption is reduced d. bones produce more bone tissue e. osteoblast activity increases 13. What does structure “A” represent on the bone diagram? a. cancellous bone b. Diaphysis c. epiphyseal lines d. articular cartilage e. epiphysis 14. What does structure “A” represent? a. frontal bone b. occipital bone c. parietal bone d. sphenoid bone e. temporal bone 15. The figure illustrates bones of the right upper limb. What does “A” represent? a. radius b. carpals c. phalanges d. metacarpals e. ulna 16. The figure illustrates bones of the right lower limb. What does “C” represent? a. femur b. fibula c. tarsals d. tibia e. patella 17. The joint between the head of the radius and the proximal end of the ulna is a _____ joint. a. plane b. saddle c. hinge d. pivot e. ball and socket 18. What does structure “A” represent on the diagram? a. tendon b. articular cartilage c. bursa d. fibrous capsule e. synovial membrane 19. Which of the following is composed of myosin molecules? a. thick myofilaments b. I Bands c. Z disks d. Sarcolemma e. tropomyosin 20. What does “B” represent on the diagram? a. threshold b. depolarization c. depolarization phase of action potential d. repolarization phase of action potential 21. The flexion of the elbow represents a a. class I lever system b. class II lever system c. class III lever system d. class IV lever system e. non-lever system 22. Label muscle “A” on the diagram. a. orbicularis oculi b. temporalis c. trapezius d. sternocleidomastoid e. masseter 23. What does “A” represent? a. coracobrachialis b. deltoid c. pectoralis major d. biceps brachii e. serratus anterior 24. The central nervous system includes the a. ganglia b. spinal cord c. spinal nerves d. cranial nerves e. sensory receptors 25. Identify structure “A” on the neuron. a. Schwann cell b. Node of Ranvier c. neuron cell body (soma) d. dendrites e. axon 26. The figure is a process figure of the chemical synapse. What does “C” represent? a. postsynaptic membrane b. synaptic cleft c. synaptic vesicle d. voltage-gated calcium channel e. presynaptic terminal 27. Which of the following combinations indicates the correct distribution of spinal nerve pairs? a. 7 cervical – 12 thoracic – 6 lumbar – 5 sacral – 1 coccygeal b. 7 cervical – 12 thoracic – 5 lumbar – 6 sacral – 1 coccygeal c. 8 cervical – 12 thoracic – 6 lumbar – 4 sacral – 1 coccygeal d. 8 cervical – 12 thoracic – 5 lumbar – 5 sacral – 1 coccygeal e. 7 cervical – 13 thoracic – 6 lumbar – 5 sacral – 1 coccygeal 28. Label component “A” on the reflex arc. a. sensory receptor b. effector organ c. sensory neuron d. motor neuron e. interneuron 29. A small lesion in the brainstem which resulted in a rapid heart rate, intense vasoconstriction, and elevated blood pressure would probably be located in the a. medulla oblongata. b. Pons c. Cerebellum d. Hypothalamus e. cerebrum 30. The corpus callosum a. consists of a broad band of gray matter b. is found at the base of the transverse fissure c. is a band of commissural fibers that connects the right cerebral hemisphere to the left cerebral hemisphere d. connects the frontal lobe to the occipital lobe e. connects the frontal lobe to the parietal lobe 31. Which nerve has branches that extend to the thoracic and abdominal viscera? a. facial nerve b. vagus nerve c. trigeminal nerve d. glossopharyngeal ner 32. Which of the following is a somatic sense? a. smell b. taste c. touch d. sound e. sight 33. Label area “A” on the cerebral cortex. a. visual cortex b. primary motor cortex c. primary somatic sensory cortex d. motor speech area (Broca’s area) e. sensory speech area (Wernicke’s area) 33. The figure is a sagittal section of the eye. What does “A” represent? a. iris b. pupil c. lens d. conjunctiva e. cornea 34. Which of the following is NOT an effector controlled by the autonomic nervous system? a. cardiac muscle b. glands c. skeletal muscle d. smooth muscle in blood vessels e. smooth muscle in the digestive system 35. Identify structure “C” on the bottom diagram. a. autonomic ganglion b. somatic motor neuron c. effector organ (smooth muscle of GI tract) d. postganglionic neuron e. preganglionic neuron 36. The endocrine system a. releases neurotransmitters into ducts b. secretes chemicals that reach their targets through the bloodstream c. communicates via frequency-modulated signals d. contains organs called exocrine glands e. is isolated from the nervous system Consider the following events in the intracellular receptor model: 1: Hormone receptor complex binds to DNA. 2: Messenger RNA directs synthesis of specific proteins. 3: Hormone binds to receptors either in cytoplasm or nucleus. 4: Messenger RNA synthesis is activated. 5: Synthesized proteins produce the response of the cell. 37. Which of these events occurs in the nucleus? a. 1, 3, 5 b. 1, 3, 4 c. 1, 2, 3 d. 3, 4, 5 e. All events occur in the nucleus 38. The hypothalamus a. rests in the sella turcica b. is also called the neurohypophysis c. is located inferior to the pituitary gland d. regulates the secretory activity of the pituitary gland e. is located superior to the thalamus 39. The major secretory products of the zona glomerulosa of the adrenal cortex are a. glucocorticoids b. mineralocorticoids c. androgens. d. catecholamines e. cortisol and ADH
PART 1 1. Fred takes Betty to dinner at a very expensive and exclusive restaurant. The menu does not mention prices. The server takes their order, and both Betty and Fred enjoyed the meal immensely. When the bill comes, Fred refuses to pay because the menu had no prices and because he and the server never engaged in language indicating an offer and acceptance. The server said, “Are you ready to order?” and when Fred said “Yes,” the server merely asked, “What may I get you tonight?” Fred must pay based on a promissory estoppel theory. Fred must pay based on expressed contract theory. Fred is correct because no contract was formed. Fred must pay based on an implied-in-fact contract theory. 2. The DeBeers company is a profit-maximizing monopolist that exercises monopoly power in the distribution of diamonds. If the company earns positive economic profits this year, the price of diamonds will: Be equal to the average total cost of diamonds. Exceed the marginal cost of diamonds but equal to the average total cost of diamonds. Be equal to the marginal cost of diamonds. Exceed both the marginal cost and the average total cost of diamonds 3. Jay stops at the shopping mall to purchase a new pair of jeans from the Diesel store. He is the ultimate consumer in a pipeline from the producer through intermediaries, including the clothing store. This pipeline is actually a__________. marketing tunnel consumer market marketing channel distribution matrix 4. A monopoly firm is different from a perfectly competitive firm in that: A monopolist’s demand curve is perfectly inelastic whereas a perfectly competitive firm’s demand curve is perfectly elastic. A monopolist can influence market price whereas a perfectly competitive firm cannot. A competitive firm has a u-shaped average cost curve whereas a monopolist does not. There are many substitutes for a monopolist’s product whereas there are no substitutes for a competitive firm’s product. 5. A 911 emergency response service needs operators who are bilingual in English and Spanish. A few applicants of Spanish origin are rejected due to poor English-speaking skills. They file a complaint on the grounds of discrimination based on nationality. Their complaint is squashed. Here, the defense of the federal government is on the grounds of: Circumstantial evidence Inculpatory evidence Exclusionary rule Bona fide occupational qualifications 6. In order to focus your presentation on people, you should______. avoid using presentation software or other technology use a lot of “I” statements make individuals and groups the subject of your sentences include as many photographs as possible in your slides 7. Which of the following is typically included in the drafting stage of writing an effective business message? Setting a positive and other-oriented tone Sending the message to be proofread Double-checking everything Identifying the primary message and key points 8. Marketing refers to__________. the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large the process of identifying target market segments for a product or service the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers the production of products or services that will generate the highest return on investment 9. Lori is using secondary research to develop a business report. How can she write her report in a way that demonstrates originality in thought? Cite all her research sources Use the most current documentation guidelines Generate her own conclusions and recommendations Adopt a methodical approach to decision making 10. Annie, an employee who often attributes her team failures to bad luck, attributes other teams’ failures to personal shortcomings. Which of the following cognitive biases do Annie’s attributions exemplify? Self-deception bias Belief bias In-group bias Hindsight bias 11. When does the straw man fallacy occur? When a person tries to disprove a claim based on its source. When a person falsifies or overstates an adversary’s position. When a person considers only 2 alternatives even when other options are available. When a decision maker dismisses an alternative that fails to solve the issue completely. 12. Which of the following types of unemployment is considered to be the most controllable through demand-side macroeconomic policy? Cyclical unemployment Natural unemployment Structural unemployment Frictional unemployment 13. Microeconomics and macroeconomics are: Interrelated because both are often taught by the same instructors Interrelated because what happens in the economy as a whole is based on individual decisions Virtually identical, though one is much more difficult than the other Not related because they are taught separately 14. Article 6 of the Treaty on European Union called the Maastricht Treaty states the EU is “founded” on: specific performance stare decisis private markets rule of law 15. Which of the following is the path through which contractionary monetary policy works? Money down implies interest rate up implies investment up implies income down Money down implies interest rate up implies investment down implies income down Money down implies interest rate down implies investment down implies income down Money down implies interest rate down implies investment up implies income down 16. The depreciation of currency will: improve a country’s comparative advantage. worsen a country’s comparative advantage. balance a trade surplus. have no impact on a country’s comparative advantage. 17. Marketing research refers to__________. The use of information technology to find objective solutions to a marketing problem the process of systematically collecting and analyzing information in order to define a marketing problem the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions the science of using observable human behavior in order to identify and solve marketing problems 18. _____ is the process of converting meaning into messages composed of words and nonverbal signals. Translating Decoding Encoding Filtering 19. If a population is known to be normally distributed, what can be said of the sample distribution of the sample mean drawn from this population? For a sample size n < 30, the sampling distribution of the sample mean is normally distributed. For a sample size n > 30, the sampling distribution of the sample mean is normally distributed. For any sample size n, the sampling distribution of the sample mean is normally distributed. For a sample size n < 50, the sampling distribution of the sample mean is normally distributed. 20. Sam, a marketing manager, often makes ethical decisions based on what others feel about those decisions. He often considers opinions from other managers and employees. Which of the following ethical systems do Sam’s decisions follow? Consequentialism Utilitarianism Relativism Egoism 21. Federal law and business leaders alike favor ____________ as a means of governing private business ethics. Self-regulation by companies Establishment of federal regulators in all private companies to establish and enforce ethical standards. Giving the federal government exclusive jurisdiction regarding ethics and ethics violation enforcement. Creating uniform statutes of business ethics. 22. Which of the following statements is true of the WARN Act? It requires employers to give notice to an “at will” employee that he/she is being fired. It requires employers to give notice of a scheduled mass layoff. It requires employers to give notice to employees that they are being subjected to polygraph tests. It requires employers to give notice to employees that an unscheduled drug test will be conducted for all employees. 23. According to the Ajzen model, the strongest predictor of an employee’s behavior is/are__________. social norms the employee’s values the employee’s attitudes the employee’s intentions 24. The interdisciplinary field dedicated to understanding and managing people at work is called: management dynamics management theory organizational behavior organizational dynamics 25. Regarding using personality testing as part of the hiring process, experts have concluded that: There are many valid instruments available to managers to test for personality types. Only the Big Five should be used as predictors of job performance. The typical personality test is not a valid predictor of job performance. The effects of personality on job performance are so large it cannot be ignored by managers. 26. In the context of developing persuasive messages, which of the following is most likely to help you demonstrate a voice of competence? focusing only on logical appeals using only emotional appeals in your persuasive messages developing strong ideas in the interest of your audience adopting the tone of mass advertising such as over-the-top appeals ?27. Identify an example of spontaneous creativity. Settling a disagreement quickly in a simple way. Modifying the strategies and procedures of a group. Establishing win-win relationships with other people. Organizing annual meetings and get-togethers innovatively. 28. Alex is playing his music at full volume in his dorm room. The other people living on his floor found this to be a nuisance, but Alex doesn’t care. Alex’s music playing is an example of: positive externality normative externality negative externality Pareto externality 29. Which of the following is useful advice on conducting business across cultures with those who have limited English ability? Speak at your normal, regular pace instead of speaking slowly as this may be viewed as disrespectful. Determine a person’s level of communication proficiency within the first few moments of your interactions with them. Use slang and jargon instead of literal language as much as possible. Allow those with limited English ability enough time to process their thoughts into English. 30. Joyce finds that the members of the project team to which she has been assignment in her management class are all athletes on the college’s football and basketball teams. She immediately considers dropping the class because she thinks her experience with that team will be negative. Joyce is likely reacting to a__________. semantic memory negativity bias stereotype self-serving bias 31. The distinction between flexible and fixed individual differences__________. is that managers should hire people based on their attitudes and emotions is that managers have little or no impact on fixed differences has no practical value for managers is that managers have little or no impact on flexible differences 32. Advertising, personal selling, sales promotion, public relations, and direct marketing are marketing communications alternatives that make up a firm’s __________. promotional mix communication source marketing mix media strategy 33. When two regression models applied on the same data set have the same response variable but a different number of explanatory variables, the model that would evidently provide the better fit is the one with a__________. higher coefficient of determination and a lower adjusted coefficient of determination lower standard error of the estimate and a higher adjusted coefficient of determination higher standard of error of the estimate and a higher coefficient of determination lower standard error of the estimate and a higher coefficient of determination 34. Suppose farmers can use their land to grown either wheat or corn. The law of supply predicts that an increase in the market price of wheat will cause: farmers to lower the production of corn and wheat. farmers to substitute wheat for the production of corn. farmers to substitute corn for the production of wheat. farmers to raise the production of corn and wheat. 35. Under the regulations of interstate commerce: Activities affecting interstate commerce do not come under the power of the deferral government. Intrastate activities affecting interstate commerce can be regulated only by the state governments. Regulation on any activity is appropriate if it aids interstate commerce. The states have the exclusive power to commerce that passes that passes across their lines. 36. What is the main drawback to the Negotiation & Agreement strategy for overcoming resistance to change? ineffective too expensive if others decide to also negotiation for compliance leads to future problems if people feel manipulated time-consuming 37. Your résumé should tell a story of______. everything you have learned and done in your previous job the value you can provide to a company Your educational accomplishments how you plan to improve your areas of weakness 38. A receptive developmental network is__________ made up of weak ties to multiple developers from a variety of social systems made up of numerous strong ties to developers from one social system made up of strong ties to several developers from four different social systems made up of a few weak ties from one social system 39. According to the Classical growth model, an economy that increases its saving will grow: Quickly since the increase in saving will permit more rapid technological progress. Slowly because interest rates will fall, causing investment to decline. Slowly because consumption and aggregate demand will be reduced. Quickly since the increase in saving will permit greater investment. 40. What is true of the features used to judge a person’s credibility? Mannerisms and age are two valid features that can be used to judge a person’s credibility. Well-educated individuals can be highly relied upon as guides to ethical values. Ethnicity, gender, and accent are inapt characteristics for judging credibility. Individuals can accurately determine a person’s credibility based on physical characteristics. 41. Identify the statement that accurately describes the Sarbanes-Oxley Act. It requires business to have only company insiders as board directors. Unlike other Acts, its violations do not result in fines or prosecutions. Complying with the act saves time and money, but deteriorates efficiency. It was passed to promote business ethics by creating legal requirements. 42. Frequent, abusive, threatening phone calls by creditors are most likely to provoke the basis for a claim of _____________. misrepresentation malicious representation intentional infliction of emotional distress false imprisonment and malicious prosecution 43. In order to summarize qualitative data, a useful tool is a____________. scattergram stem-and-leaf diagram frequency distribution histogram 44. The product life cycle refers to __________. a concept that describes the stages a product goes through in the marketplace — introduction, growth, maturity, and decline the average life span of a product a concept that describes the stages a product goes through in the marketplace—early growth, accelerated development, maturity, and decline a concept that describes the stages a new product goes through from product concept to commercialization 45. The study of similarities and differences among consumers in two or more nations or societies is referred to as __________. cross-cultural analysis international sociographics market synthesis transnational anthropology 46. Other things held constant in a competitive labor market, if workers negotiate a contract in which the employer agrees to pay an hourly wage of $17.85 while the market equilibrium hour rate is $16.50, the: Quantity of workers supplied will exceed the quantity of workers demanded. Quantity of workers demanded will exceed the quantity of workers supplied. ? Supply of labor will decrease until the equilibrium wage rate is $17.85. Demand for labor will increase until the equilibrium wage rate is $17.85. 47. In which of the following situations is a budget surplus most likely to occur? When fiscal policy is expansionary and the economy is contracting When fiscal policy is contractionary and the economy is expanding When fiscal policy is expansionary When the economy is contracting 48. How many parameters are needed to fully describe any normal distribution?? 1 3 2 4 49. Fred takes Betty to dinner at a very expensive and exclusive restaurant. The menu does not mention prices. The server takes their order, and both Betty and Fred Which of the following can be represented by a discrete random variable? the circumference of a randomly generated circle The number of defective lightbulbs in a sample of five The average distance achieved in a series of long jumps The time of a flight between Chicago and New York 50. Suppose that college tuition is higher this year than last and that more students are enrolled in college this year than last year. Based on this information, we can best conclude that: despite the increase in price, quantity demanded rose due to some other factors changing. this situation has nothing to do with the law of demand. the demand for a college education is positively sloped. the law of demand is invalid. 51. In order to summarize qualitative data a useful tool is a____________. scattergram stem-and-leaf diagram frequency distribution histogram PART 2 1. Sampling is used heavily in manufacturing and service settings to ensure high-quality products. In which of the following areas would sampling be inappropriate? Custom cabinet making Computer assembly Technical support by phone Cell phone manufacturing 2. The preparation of adjusting entries is: needed to ensure that the expense recognition principle is followed. straightforward because the accounts that need adjustment will be out of balance optional when financial statements are prepared. only required for accounts that do not have a normal balance. 3. What is an advantage of the correlation coefficient over the covariance? It falls between -1 and 1. It is a unit-free measure, therefore making it easier to interpret. It falls between -1 and 1; and it is a unit free measure, therefore making it easier to interpret. It falls between 0 and 1. 4. Interest may be included in the acquisition cost of a plant asset: during the construction period of a self-constructed asset. if the asset acquisition is financed by a long-term note payable. if the asset is purchased on credit. if it is a part of a lump-sum purchase. 5. Which trial balance will consist of the greatest number of accounts? Balance Adjusted trial balance Trial balance Post-closing trial balance 6. Expenditures that maintain the operating efficiency and expected productive life of a plant asset are generally: capitalized as a part of the cost of the asset. not recorded until they become material in amount. expensed when incurred. debited to the Accumulated Depreciation account. 7. A SWOT analysis is a framework for analyzing a firm’s environments. A SWOT is made up of Internal environmental analysis of threats and weaknesses. External analysis of strengths and opportunities. Internal threats and weakness and external strengths and opportunities. Internal strengths and weaknesses; external threats and opportunities. 8. GAAP, compared to IFRS, tends to be more: simple in disclosure requirements simple in accounting requirements principles-based rules-based 9. Firms must be aware of goals other than short-term profit maximization. One area of concern should be social responsibility which is: the idea that organizations are solely responsible to local citizens the idea that businesses are responsible to maintain a healthy social climate for their employees the expectation that business will strive to improve the overall welfare of society the fact that court costs could impact the financial bottom line 10. Which of the following can be represented by a continuous random variable? The number of typos found on a randomly selected page of this test bank The number of students who will get financial assistance in a group of 50 randomly selected students The number of customers who visit a department store between 10:00 a.m. and 11:00 a.m. on Mondays The average temperature in Tampa, Florida, during the month of July 11. According to value-chain analysis, which of the following would be considered part of the general administration in a firm? procurement technology development information systems human resource management 12. Which of the following can be represented by a discrete random variable? The number of defective light bulbs in a sample of five The average distance achieved in a series of long jumps The circumference of a randomly generated circle The time of a flight between Chicago and New York 13. Sarbanes Oxley applies to: U.S and international companies. international companies but not U.S. companies. U.S. and Canadian companies but not other international companies. U.S companies but not international companies. 14. Vertical analysis is a technique that expresses each item in a financial statement: as a percent of the item in the previous year. starting with the highest value down to the lowest value. in dollars and cents. as a percent of a base amount. 15. The owner of a company has recently decided to raise the salary of one employee, who was already making the highest salary, by 20%. Which of the following is(are) expected to be affected by this raise? Mean, median, and mode Median only Mean and median only Mean only 16. Which of the following meets the requirements of a simple random sample? A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six people chosen at random, without regard to age. A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include two people chosen at random under the age of 25 and four people chosen at random over 25. A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six people who volunteer for the sample. A population contains 10 members under the age of 25 and 20 members over the age of 25. The sample will include six males chosen at random, without regard to age. 17. The acquisition of treasury stock by a corporation: decreases its total assets and total stockholders’ equity. requires that a gain or loss be recognized on the income statement. increases its total assets and total stockholders’ equity. has no effect on total assets and total stockholders’ equity. 18. Under the accrual basis of accounting: the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles. cash must be received before revenue is recognized. events that change a company’s financial statements are recognized in the period they occur rather than in the period in which cash is paid or received. net income is calculated by matching cash outflows against cash inflows. 19. The acquisition of treasury stock by a corporation: has no effect on total assets and total stockholders’ equity. decreases its total assets and total stockholders’ equity. increases its total assets and total stockholders’ equity. requires that a gain or loss be recognized on the income statement. 20. In multiple regression, plot the residuals against ____ to detect changing variability. Collinear variables All explanatory variables The response variable The predicted values 21. The resource-based view (RBV) of the firm combines two perspectives: the interrelationships among the primary activities of the firm and corporate management the industry and the competitive environment the internal analysis of the firm and the external analysis of the industry and competitive environment the primary and support activities of the firm 22. Cost allocation of an intangible asset is referred to as: accretion capitalization depreciation amortization 23. The fraud triangle applies to: U.S. and Canadian companies, but not other international companies. U.S companies but not international companies. international companies but not U.S. companies. U.S and international companies. 24. On March 1st, Candy, Inc. had supplies on hand of $1,500. During the month, Candy purchased supplies of $2,900 and used supplies of $2,800. The March 31st balance sheet should report what balance in their supplies account? $1,600 $1,500 $2,900 $2,800 25. Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own polypropylene fiber, a key input to its manufacturing process. This is an example of _______________. using related diversification to achieve value by integrating vertically in order to acquire market power using related diversification to achieve value by pooling negotiating power to achieve market power using related diversification to achieve value by leveraging core competencies to achieve economies of scope using related diversification to achieve value by integrating vertically in order to attain economies of scope 26. Assume that the Fitzgerald Corporation uses the indirect method to depict cash flows. Indicate where, if at all, accounts receivable collected would be classified on the statement of cash flows. Does not represent a cash flow. Financing activities section. Investing activities section. Operating activities section. 27. __________involves ensuring proper strategic controls and organizational designs. Strategy implementation Business-level strategy Corporate-level strategy Corporate governance 28. The manager of Weiser is given a bonus based on net income before taxes. The net income after taxes is $35,700 for FIFO and $29,400 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager’s bonus if FIFO is adopted instead of LIFO? $9,000 $1,800 $6,300 $12,600 29. Which of the following controls would best help detect the removal of a blank check by an employee from the back of a company’s checkbook for subsequent misappropriation of funds? Tracing any debit memorandums from the bank to the company’s records A review of the cash budget An accounting policies manual The use of pre-numbered checks 30. Which of the following is not a current liability on December 31, 2014? A Note Payable due December 31, 2015 A lawsuit judgment to be decided on January 10, 2015 An Accounts Payable due January 31, 2015 Accrued salaries payable from 2014 31. When collection is made on Accounts Receivable, Stockholders equity will increase. total assets will remain the same. total assets will decrease. total assets will increase. 32. Which financial statement would best indicate whether the company relies on debt or stockholders’ equity to finance its assets? Retained earnings statement Statement of cash flows Income statement Balance sheet 33. Is it possible for a data set to have no mode? No, if the data set is nonempty, there is always a mode No, unless there is an odd number of observations Yes, if there are no observations that occur more than once Yes, if two observations occur twice 34. An analyst believes the probability that U.S. stock returns exceed long-term corporate bond returns over a 5-year period is based on personal assessment. This type of probability is best characterized as a(n) ____________. Empirical probability A priori probability Objectivity probability Subjective probability 35. Continuous monitoring in the contemporary approach, is beneficial because _____________. organization response time is increased it increases the time it takes to detect changes in the competitive environment It reduces time lags organizational flexibility is reduced 36. WellPoint Health Network states: WellPoint will redefine our industry: through a new generation of consumer-friendly products that put individuals back in control of their future. This is an example of a: Strategic objective Line manger’s individual goal Vague statement of direction Vision statement 37. A post-closing trial balance will show: zero balances for all accounts only income statement accounts only balance sheet accounts zero balances for balance sheet accounts 38. Which of the following requirements about internal controls were enacted under the Sarbanes Oxley Act: Independent outside auditors must eliminate redundant internal controls. Companies must develop sound internal controls over financial reporting. Companies must assess the functionality of internal controls only when a violation occurs. Internal auditors replace independent outside auditors when evaluating the level of internal control. 39. Which of these statements regarding the industry life cycle is correct? Part of the power of the market life cycle is its ability to serve as a short-run forecasting device. It points out the need to maintain a differentiation advantage and a low cost advantage simultaneously. It has important implications for company generic strategies, functional areas, value-creating activities, and overall objectives. Trends suggested by the market life cycle model are generally not reversible or repeatable. 40. International Financial Reporting Standards (IFRS): implies that receivables with different characteristics should be reported separately. implies that receivables with different characteristics should be reported as one un-segregated amount. requires that receivables with different characteristics should be reported separately. requires that receivables with different characteristics should be reported as one un-segregated amount. 41. In a simple linear regression model, if the plots on a scatter diagram lie on a straight line, what is the standard error of the estimate? Infinity 0 -1 +1 42. Shaw Industries, a giant carpet manufacturer, increases its control over raw materials by producing much of its own polypropylene fiber, a key input to its manufacturing process. This is an example of _______________. using related diversification to achieve value by integrating vertically in order to attain economies of scope using related diversification to achieve value by pooling negotiating power to achieve market power using related diversification to achieve value by integrating vertically in order to acquire market power using related diversification to achieve value by leveraging core competencies to achieve economies of scope 43. The four key attributes of strategic management include the idea that: Strategy must be focused on long-term objectives. Strategy must be focused on one specific area of an organization. Strategy must be directed toward overall organizational goals and objectives. Strategy must be focused on competitor strengths. 44. If a corporation issued $8,000,000 in bonds which pay 5% annual interest, what is the annual net cash cost of this borrowing if the income tax rate is 30%? $120,000 $280,000 $400,000 $4,000,000 45. Green, Inc. had 200,000 shares of common stock outstanding before a stock split occurred and 800,000 shares outstanding after the stock split. The stock split was: 1-for-8 4-for-1 8-for-1 2-for-8 46. You work in marketing for a company that produces work boots. Quality control has sent you a memo detailing the length of time before the boots wear out under heavy use. They find that the boots wear out in an average of 208 days, but the exact amount of time varies, following a normal distribution with a standard deviation of 14 days. For an upcoming ad campaign, you need to know the percent of the pairs that last longer than six months-that is, 180 days. Use the empirical rule to approximate this percent. 95% 97.5% 5% 2.5% 47. What is a difference between merchandising companies and service enterprises? Cost of goods sold is an expense for service enterprises but not for merchandising companies. The operations in merchandising companies and service enterprises are identical. Merchandising companies must prepare multiple-step income statements and service enterprises must prepare single-step income statements. Merchandising companies generally have a longer operating cycle than service enterprises. 48. For both qualitative and quantitative data, what is the difference between the relative frequency and the percent frequency? The percent frequency equals the relative frequency multiplied by 100 As opposed to the percent frequency, the relative frequency is divided by the number of observations the data set. The relative frequency equals the percent frequency multiplied by 100. The percent frequency equals the relative frequency multiplied by 100 49. According to the text the triple bottom line approach to corporate accounting includes three components: financial, organizational, and customer financial, environmental, and customer financial, organizational, and psychological financial, environmental, and social 50. As opposed to the relative frequency, the percent frequency is divided by the number of observations in the data set. Trumpeting Trumpets has the following inventory data: July 1: Beginning inventory 30 units at $120 July 5: Purchases 180 units at $112 July 14: Sale 120 units July 21: Purchases 90 units at $115 July 30: Sale 84 units Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis? $10,992 $23,118 $11,022 $23,088 (90 × $115) + [(120 + 84 ? 90) × $112] = $23,118 51. For both qualitative and quantitative data what is the difference between the relative frequency and the percent frequency? The percent frequency equals the relative frequency multiplied by 100 As opposed to the percent frequency, the relative frequency is divided by the number of observations the data set. The relative frequency equals the percent frequency multiplied by 100. The percent frequency equals the relative frequency multiplied by 100
1) In a survey of 50 corporations, which of the following was rated as a benefit of strategic management? A. Clearer sense of vision for the firm B. Higher levels of employee motivation C. Higher levels of job satisfaction D. Improved productivity E. Lower employee turnover 2) Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is A. externally-oriented planning B. basic financial planning C. internally-oriented planning D. forecast-based planning E. strategic management 3) Strategic management is that set of managerial decisions and actions that determine the long-run performance of a corporation. Which one of the following is NOT one of the basic elements of the strategic management process? A. Strategy formulation B. Strategy implementation C. Statistical process control D. Evaluation and control E. Environmental scanning .slidesharecdn.com/mgt498finalexam-160206153619/95/mgt-498-final-exam-2015-version-3-638.jpg?cb=1454773023″ title=”4) The relationship among the board of directors, top manag…”>4) The relationship among the board of directors, top management, and shareholders is referred to as A. corporate synergy B. corporate management C. corporate governance D. corporate strategy E. corporate responsibility 5) The concept that proposes private corporations have responsibilities to society that extend beyond making a profit is known as A. flexible responsibility B. social responsibility C. social flexibility D. managerial responsibility E. profit maximization 6) Who said that the social responsibility of business is a “fundamentally subversive doctrine” and that the one social responsibility of business is “to use its resources and engage in activities designed to increase its profits so long as it stays with the rules of the game…”? A. Adam Smith B. Edward Freeman C. Archie Carroll D. William C. Norris E. Milton Friedman 7) Which of the following is NOT descriptive of external environmental scanning? A. Used as a tool to ensure a corporation’s long-term health B. Used to monitor, evaluate, and disseminate information from the external environment to key people within the corporation C. Used to identify opportunities and threats D. It is a tool that corporations use to avoid strategic surprise E. Used to identify strengths and weaknesses 8) According to Porter, the corporation is most concerned with A. the intensity of competition within its industry B. the aggregate level of demand for a product line C. a market’s position on its life cycle D. the amount of pressure from the societal environment E. the level of government action in an industry 9) When a company determines a competency’s competitive advantage, Barney refers to this issue as A. value B. rareness C. imitability D. organization E. durability 10) An acronym for the assessment of the external and internal environments of the business corporation in the process of strategy formulation/strategic planning is A. P.E.T. B. M.B.O. C. S.W.O.T. D. S.B.U. E. R.O.I. 11) In the development of a SFAS matrix, the first step is to A. enter the ratings of how the company’s management is responding to each of the strategic factors B. calculate the weighted scores C. list the most important EFAS and IFAS items D. indicate short-term for the duration E. enter the weights for all of the internal factors 12) The technique that illustrates how management can match the external opportunities and threats with its strengths and weaknesses to yield four sets of strategic alternatives is called a (an) A. IFAS Table B. EFAS Table C. SFAS Table D. TOWS Matrix E. Issues Priority Matrix 13) Which strategy specifies the firm’s overall direction in terms of its general orientation toward growth, the industries or markets in which it competes, and the manner in which it coordinates activities and transfers resources among business units? A. Corporate B. Functional C. Divisional D. Organizational E. Business 14) Continuous improvement is an operations concept developed in A. the United States B. Sweden C. Japan D. Germany E. Canada 15) The process by which a firm approaches its cross-border activities and those of competitors, and plans to approach them in the future, is called A. staging B. international strategy C. competitive strategy D. cross-border configuration 16) What question must managers ask concerning the relationship between economic logic and international strategy? A. Which geographic areas will we enter? B. How does our international strategy contribute to the economic logic of our business and corporate strategies? C. How does being international make our products more attractive to our customers? D. Which international market-entry strategies will we use? 17) Which strategy is developed to pull together the various activities and competencies of each department so that corporate and business unit performance improves and resource productivity is maximized? A. Business strategy B. Competitive strategy C. Generic strategy D. Enterprise strategy E. Functional strategy 18) The strategy that deals with product and process innovation and improvement is known as a ________ strategy. A. Marketing B. R&D C. operations D. financial E. human resource management 19) The hiring of new people with new skills, firing of people with inappropriate or substandard skills, and/or training existing employees to learn new skills are included the process of A. training B. staffing C. structuring D. operating E. financing 20) The strategy implementation tool used to determine what actions are going to be taken, by whom, during what time frame, and with what expected results is called a(n) A. mission statement B. action plan C. MBO D. TQM E. succession plan 21) Executives with a particular mix of skills and experiences may be classified as an executive type and paired with A. a specific personal characteristic B. a specific corporate strategy C. a certain educational background D. a specific experience background E. a specific industry 22) According to the text, what is the “key” to effective management of change in culture? A. Planning B. Operationalization C. Evaluation D. Staffing E. Communication 23) The sum total of the activities and choices required for the execution of a strategic plan is known as in A. strategic formulation B. environmental scanning C. strategy implementation D. evaluation and control E. strategic development 24) Who typically implements strategy in large, multi-industry corporations? A. The board of directors B. Top management C. Middle management D. First level management E. Everyone in the organization 25) Which one of the following is NOT a part of the evaluation and control of performance? A. Establish corporate strategies. B. Determine what to measure. C. Establish standards for performance. D. Measure actual performance. E. Take corrective actions. 26) The end result of activity is known as A. measurement B. gratuity C. performance D. return on equity E. achievement 27) Which is the MOST commonly used measure of corporate performance (in terms of profit)? A. EPS B. ROE C. DPS D. ROI E. ROVA 28) Because of the belief that accounting-based numbers such as ROI, ROE, and EPS are not reliable indicators of a corporation’s economic value, which method of corporate performance is now preferred? A. Shareholder value B. Basic earning power C. Price/earnings ratio D. Profit margin on sales E. Return on assets 29) Which company experienced a tarnished reputation and scandal after experiencing behavior substitution when employees altered their behavior on the job to fit the reward system? A. Sears, Roebuck, & Co. B. J.C. Penney C. Neiman Marcus D. Saks E. Macy’s 30) Suboptimization occurs when A. a division or functional unit views itself as a separate entity and refuses to cooperate with other divisions or units to the detriment of the organization as a whole B. there is a failure to produce at or near full capacity C. individuals are placed into positions not suited to their abilities D. managers tend to focus more of their attentions on those aspects which are measurable than on those which are not E. managers concentrate too much on short-term performance objectives
“Job Applicants” Please respond to the following: Examine two ways that companies can recruit qualified job applicants. Determine which method may be most effective and predict how it could benefit the company when hiring new employees. From the e-Activity, compare two different job descriptions. Recommend two changes to make the job descriptions more marketable. Provide examples to support your recommendations. Be sure to provide details of the job descriptions in case others want to use them. “Company Competitive Advantage” Please respond to the following: Propose two ways that a company can gain a competitive advantage over other companies when striving to recruit job applicants. Determine whether technology has assisted or hindered the process. Imagine you are head of the HR department, and you have been asked to review two applicants for the sales clerk position at your company. Alice, the first applicant has 10 years of experience in sales work, but can be easily distracted. She will not work on commission and cannot work weekends. She can be a little obstinate, but has an excellent job history. Mary, the second applicant, has one year experience, but very congenial and loves working with people. Her work schedule is very flexible, but she can become a little stressed at times and has been known for having to quietly leave and regroup for a short time. Determine which candidate would be the “right fit”. Support your decision by describing the thought process that lead up to your decision.
Nathan Farmer, chief financial officer of Wang Appliance Store, is responsible for the company’s budgeting process. Farmer’s staff is preparing the Wang cash budget for 2014. A key input to the budgeting process is last year’s statement of cash flows, which follows (amounts in thousands): Wang Appliance Store Statement of Cash Flows 2013 (in thousands) Cash Flows from Operating Activities Collections from customers $51,000 Interest Received 500 Purchase of inventory (36,000) Operating expenses (10,200) Net cash provided by operating activities 5,300 Cash Flows from Investing Activities Purchase of equipment (3,500) ———————— AND SO ON ———————– Requirements: 1. Prepare the Wang cash budget for 2014. Date the budget simply “2014” and denote the beginning and ending cash balances as “beginning” and “ending.” Assume the company expects 2014 to be the same as 2013, but with the following changes: a. In 2014, the company expects a 20% increase in collections from customers and a 30% increase in purchases of inventory. b. There will be no sales of investments in 2014. c. Wang does not plan to issue stock in 2014. d. Wang plans to end the year with a cash balance of $5,550