Management 2

Quick ratio

(current assets - inventory)/current liabilities

Which type of financial ratio measures how well the managers of the organization are creating value from the organization's assets?

Activity ratio

Which of the following are formal target-setting, monitoring, evaluation, and feedback systems that provide managers with information about whether the organization's strategy and structure are working efficiently and effectively?

Control systems

SynVens, a major retail chain in Hungary, is planning to diversify. It plans to enter the textiles industry and aims to be first or second in market share in this industry in five years. Which of the following levels of plan does this strategy fall under?

Corporate-level plan

Which of the following types of financial ratios indicates how efficiently the managers of the organization are collecting the revenue due to the organization from the sale of its products or services?

Days sales outstanding ratio

The units of Zach Ltd. are grouped together such that the functions that work together to produce a product are grouped together. This is an example of which of the following structures?

Divisional structure

Action Explosives gives specifications to its suppliers of raw materials in an attempt to improve the quality of those raw materials and to minimize and anticipate the problems they are likely to face in the conversion process. Which of the following control systems is being used by Action Explosives?

Feedforward control

Jason has been hired by Praltiz Inc., an IT firm, to increase coordination among functions or divisions to achieve performance gains from synergies. What role is Jason hired to perform?

Integrating role

Which of the following types of financial ratios indicates the degree to which the organization uses debt or equity to finance its ongoing operations?

Leverage ratios

Which of the following types of financial ratios measures the ability of the organization to pay its short-term debts?

Liquidity ratios

Tot Beverages creates a series of agreements with its suppliers, manufacturers, and distributors to produce and market Zing cola. This is an example of which of the following organizational structures?

Network structure

A divisional manager is evaluated based on the operating income of his division. On the basis of which of the following budget approaches is the divisional manager being remunerated?

Profit budget approach

Which of the following is the MOST commonly used financial performance measure that allows managers of one organization to compare performance with that of other organizations?

Return on investment

The manager of a profit center is evaluated on the basis of the amount of sales that have been generated from the goods or services produced in his/her division. On the basis of which of the following budget approaches is the divisional manager being remunerated?

Revenue budget approach

Which of the following is a mechanism of control for organizational culture?

Socialization

Which of the following is the number of new or unexpected problems or situations that a person or function encounters in performing tasks or jobs?

Task variety

"an obsolete, narrow product line"

Weakness

According to _____ theory, managers should choose a structure that fits the circumstances affecting their organization the most.

contingency

Fern Motor Co. brings together senior managers from its marketing, R&D, manufacturing, accounting, and finance departments to work on a project as a team, to design a new type of sport utility vehicle. In this scenario, Fern Motor Co. creates a:

cross-functional team

current ratio

current assets/current liabilities

marketing, R&D, and HR department

functional level

advantage of differentiation strategy

higher barrier of entry

A Place for Pizza encourages the basic division of labor among "chefs" and "food servers" where chefs perform all tasks involved in actual cooking and food servers perform all tasks involved in giving food to the customers. Which of the following grouping tasks is A Place for Pizza implementing?

job design

A manager increases the number of tasks that a subordinate has to do in order to make the job more interesting for the subordinate. Which of the following best describes this process?

job enlargement

A manager redesigns the job of a subordinate so that the subordinate has more responsibility over his/her job. Which of the following best describes this process?

job enrichment

CoreSol Ltd. gives one manager in each of three departments (marketing, engineering, and production) the responsibility of coordinating with each other to brainstorm new product ideas. The department managers can increase coordination by establishing:

liason

Return on Investment (ROI)

net profit before taxes/total assets

The manager of the human resources department of a company is a(n) _____ manager.

staff

The manager of a fast-food restaurant, Triks Burgers, keeps track of the number of customers served at different periods of the day in an attempt to plan a schedule for workers that matches the demand for the restaurant's products. Which of the following control systems is being used by Triks Burgers?

x. feed forward

The managers of a division are given a fixed budget and are then evaluated on the basis of their ability to produce goods or services. Which of the following budget approaches is being implemented by the organization?

x. operating profit budget x. Revenue budget approach

Managers at Dimensions, Inc., analyze the current situation of their organization and then develop plans to help their organization accomplish its mission and achieve its goals. This is known as:

x.functional