Capstone Final

According to author Alvin Toffler, what occurs when the nature, types, and speed of changes overpower an individual's or organization's ability and capacity to adapt? A. Corporate agility B. Future shock C. Corrective actions D. Corporate insecurity E. Projected performance

Future stock

Which country in 2017 replaced the United States as the country that downloaded more apps from Google's Play Store than any other on the planet? A. China B. Saudi Arabia C. India D. Germany E. Japan

India

Which of the following countries has a low bribery rate? A. Japan B. India C. Vietnam D. Somalia E. Liberia

Japan

Which two variables rank as marketing's most important contributions to strategic management? A. Marketing penetration and competition B. Diversification and budgeting C. Product development and market development D. Market segmentation and product positioning E. Competition and collaboration

Market segmentation and product positioning

The amount by which retained earnings changes is obtained by subtracting A. taxes from EBIT. B. any dividends to be paid for that year from net income. C. interest expense from EBIT. D. net income from EBIT. E. EBIT from CGS.

Net income from EBIT

Conflict in an organization is A. always good. B. always bad. C. completely avoidable. D. not always bad. E. a sign of bankruptcy.

Not always bad

Which of the following is NOT a management issue central to strategy implementation? A. Devising policies B. Performing an internal audit C. Revising reward and incentive plans D. Developing an effective human resources function E. Minimizing resistance to change

Performing an internal audit

Competitive advantage is normally the result of superiority in resources, skills, or A. governance. B. consistency. C. feasibility. D. position. E. employees.

Position

________ advantage tends to be self-sustaining so long as key external and internal factors that underlie it (them) remain(s) stable. A. Positional B. Resource C. Skills D. Capital E. Synergy

Positional

All of the following business actions are considered to be unethical EXCEPT A. dumping banned or flawed products in foreign markets. B. insider trading. C. preventing environmental harm. D. sexual harassment. E.overpricing.

Preventing environmental harm

Which of the following variables is NOT directly affected by market segmentation? A. Product B. Price C. Place D. Process E. Promotion

Process

High corporate tax rates A. provide strong incentives to avoid and evade taxes. B. attract foreign investors. C. have been a growing trend since the 1980s. D. encourage investment in new factories. E. make a nation a desirable location for investment.

Provide strong incentives to avoid and evade taxes

Policies help an organization in all of the following ways EXCEPT A. allow coordination across organizational units. B. reduce work load of employees. C. let both employees and managers know what is expected of them. D. reduce the amount of time managers spend making decisions. E. provide a basis for management control.

Reduce work load of employees

All of the following are mentioned by the authors as environmental strategies that a firm might adopt EXCEPT A. including an environmental representative on their board of directors. B. implementing bonuses for favorable environmental results. C. reinvesting in environment-damaging businesses. D. conducting regular environmental audits. E. incorporating environmental values in mission statements.

Reinvesting in environment-damaging businesses

The idea that the positioning of one's ________ can enhance their combined effectiveness is familiar to military theorists, chess players, and diplomats. A. profits B. facilities C. people D. products E. resources

Resources

Which item is included in net worth? A. Retained earnings and common stock B. Common stock C. Retained earnings D. Retained earnings, common stock, and additional paid-in capital E. Additional paid-in-capital

Retained earnings, common stock, and additional paid-in capital

In general, U.S. managers feel the day has been productive if it is spent A. thinking. B. meditating. C. listening. D. resting. E. rushing to meetings, appointments, and conferences.

Rushing to meetings, appointments, and conferences

Which board of director's duty falls under the category of control and oversight over management? A. Ensure equitable stockholder representation B. Select new directors C. Pass bylaws and related resolutions D. Select the CEO E. Maintain good public image

Select the CEO

A firm takes corrective actions during strategy evaluation. Which of the following is NOT a type of corrective action? A. Take on more debt B. Revise objectives C. Alter strategies D. Replace one or more key individuals E. Divest a division

Take on more debt

A disagreement between two or more parties on one or more issues is called a(n) A. conflict. B. integrated solution. C. defusion. D.compromise. E. avoidance.

Conflict

What has been shown to permit quick response to change, prevent panic in crisis situations, and make managers more adaptable? A. Balanced Scorecards B. Measuring performance C. Corrective actions D. Audits E. Contingency plans

Contingency plans

Financial ratios are an important tool used to access a firm's financial situation A. over time. B. on a yearly basis. C. over a period of time. D. at one point in time. E. on a monthly basis.

At one point in time

If an initial stock issuance is $800,000, what would be the expected cost paid to lawyers, accountants, and underwriters, based on the average for IPOs in this range? A. $20,000 B. $200,000 C. $40,000 D. $80,000 E. $400,000

$200,000

Exports constitute ________ percent of Singapore's gross domestic product (GDP). A. 221 B. 78 C. 87 D. 172 E. 102

172

The GAAP standards are comprised of ________ pages. A. 25,000 B. 10,000 C. 15,000 D. 5,000 E. 30,000

25,000

In a Spencer Stuart 2017 survey, women made up ________ percent of new directors appointed at S&P 500 companies. A. 36 B. 18 C. 22 D. 51 E. 44

36

Approximately what percent of the world's population lives in the United States? A. 5 B. 15 C. 95 D. 85 E. 10

5

What is the cornerstone of effective strategy evaluation? A. Punitive corrective actions B. Evaluation preceding implementation stage C. Adequate and timely feedback D. Smaller ratio of top- to lower-level management E. Quality and quantity of managers

Adequate and timely feedback

Whereas ________ business embodies individualism, achievement, competition, and informality, ________ business stresses collectivism, continuity, cooperation, and formality. A. American; Mexican B. Mexican; American C. Japanese; American D. Mexican; Japanese E. Japanese; Mexican

American; Mexican

The proportion of debt to equity on a balance sheet is often referred to as a firm's A. mission. B. capital structure. C. business model. D. cash flow. E. vision.

Capital structure

The strategic-management process for multinational firms is ________ for purely domestic firms, but the process is ________ for the purely domestic firms. A. conceptually different than; more complex B. conceptually the same as; more simple C. conceptually the same as; more complex D. conceptually different than; more simple E. conceptually the same; less important

Conceptually the same; more simple

Only high-priority areas require the insurance of ________ plans. A. contingency B. functional C. strategic D. operational E. financial

Contingency

Communication between domestic headquarters and overseas operations is often made difficult by A. cultural differences. B. age of firm. C. location of headquarters. D. type of services. E. type of products.

Cultural differences

Which approach for managing and resolving conflict involves playing down differences between conflicting parties, while accentuating similarities and common interests? A. Avoidance B. Resistance C. Compliance D. Defusion E. Confrontation

Defusion

Which of the following is NOT a management issue central to strategy implementation? A. Developing budgets B. Minimizing resistance to change C. Devising policies D. Developing an effective human resources function E. Revising reward and incentive plans

Developing budgets

The other name for operating income is A. gross margin. B. net income. C. earnings-before-interest-and-taxes. D. return on assets. E. earnings-per-share.

EBIT

What is the most widely used technique for determining the best combination of debt and stock? A. Earnings Per Share/Earnings Before Interest and Taxes Analysis B. Gross Profit Analysis C. Present Value Analysis D. Debt-to-Stock Ratio E. Capital Asset Pricing Model

Earnings per share / EBIT

What challenge facing all organizations requires managers to formulate strategies that preserve and conserve natural resources and control pollution? A. Compensational B. Economic C. Ecological D. Sociological E. Benchmarking

Ecological

The first activity in the strategy-evaluation process is to A. take corrective actions to ensure that performance conforms to plans. B. compare expected results with actual results. C. examine the capital structure. D. examine the underlying bases of a firm's strategy. E. develop organizational goals.

Examine the underlying bases of a firm's strategy

Which of the following is the first activity in strategy evaluation? A. Examining the underlying bases of current strategies B. Measuring organizational performance C. Monitoring the external environment D. Taking corrective actions E. Monitoring the internal environment

Examining the underlying bases of current strategies

The ________ is a network of the national standards institutes of 162 countries, one member per country. A.IMF B. EPA C. UN D. EMS E. ISO

ISO

________ refers to a series of voluntary standards in the environmental field. A. A sustainability report B. SEC 100 C. EMS 14000 D. ISO 14001 E. UN 5000

ISO 14001

All of the following are reasons that workplace romance can be detrimental to workplace morale and productivity EXCEPT A. personal arguments can lead to work arguments. B. whispering secrets can lead to tensions and hostilities among coworkers. C. sexual harassment charges may ensue, either by the involved female or a third party. D. increased quality and quantity of work can occur. E. favoritism complaints can arise.

Increased quality and quantity of work can occur

Which element in the projected income statement CANNOT be forecasted using the percentage-of-sales method? A. Selling expense B. Cost of goods sold C. Administrative expense D. Operating expenses E. Interest expense

Interest expense

Success today A. provides significant assurance of success tomorrow. B. is all that really matters. C. predicts tomorrow's success. D. is no guarantee of success tomorrow. E. guarantees success tomorrow.

Is no guarantee of success tomorrow

According to the text, the first social responsibility of any business is to A. engage in social activities that have no economic benefits, to avoid the appearance of a public relations gimmick. B. offer courses and training in environmental management. C. avoid laying off employees so as to protect the employees' livelihood, even if that decision may force the firm to liquidate. D. make enough profit to cover the costs of the future, because if this is not achieved then no other social responsibility can be met. E. offer good products to customers.

Make enough profit to cover the costs of the future, because if this is not achieved then no other social responsibility can be met

All of the following are reasons to be completely open as opposed to secretive with the strategy process EXCEPT A. visibility promotes democracy, whereas secrecy promotes autocracy. B. , employees, and other stakeholders can readily contribute to the process. C. stakeholders have greater basis for understanding and committing to a firm that is open. D. participation and openness enhance understanding, commitment, and communication within the firm. E. openness limits rival firms from imitating or duplicating the firm's strategies.

Openness limits rival firms from imitating or duplicating the firm's strategies

Research suggests that which of the following is one of the best ways to overcome individuals' resistance to change in strategy evaluation? A. Command-and-control B. Rational argument C. Participation D. Emotional reactions E. Laissez-faire system

Participation

In an industry that is, or is rapidly becoming global, the riskiest possible posture is to A. expand beyond the role of domestic competitor. B. remain a global competitor. C. embrace strategic alliances. D. remain a domestic competitor. E. become a global competitor.

Remain a domestic competitor

Which term is primarily concerned with shareholder well-being rather than employee well-being? A. Product redesign B. Restructuring C. Benchmarking D. Reengineering E. Process management

Restructuring

Business ethics, ________, and sustainability issues are interrelated and impact all areas of the comprehensive strategic-management model. A. fiscal irresponsibility B. social networking C. social responsibility D. cultural indifference E. market relations

Social responsibility

Which of the following statements about contingency plans is NOT true? A. Contingency plans minimize the impact of potential threats. B. Only high-priority areas require the insurance of contingency plans. C. Contingency plans should be as simple as possible. D. Strategists should plan for all possible contingencies. E. Contingency plans should be developed for favorable and unfavorable events.

Strategists should plan for all possible contingencies

Mintzberg's notion of "crafting" strategies A. is consistent with the view that strategic management is more a science than an art. B. suggests that strategic decision making be based primarily on holistic thinking, intuition, creativity, and imagination. C. reject strategies that result from subjective imagination in favor of objective analysis. D. contends that firms need to assess their environments, do research, evaluate alternatives, analyze, and then choose a course of action. E. insists on formality.

Suggests that strategic decision-making be based primarily on holistic thinking, intuition, creativity, and imagination

All of the following are reasons strategy evaluation is more difficult today EXCEPT A. a dramatic increase in the environment's complexity. B. the increase in the number of both domestic and world events affecting organizations. C. the increasing number of variables. D. the increasing time span for which planning can be done with any degree of certainty. E. the rapid rate of obsolescence of even the best plans.

The increasing time span for which planning can be done with any degree of certainty

Financial ratios are used to compare a firm's performance over different time periods, to compare the firm's performance to industry averages, and to compare a firm's performance with A. projected goals. B. non-financial ratios. C. the performance of suppliers. D. overall business standards. E. the performance of competitors.

The performance of competitors

All of the following statements regarding the recent trend in Japan of switching from seniority-based pay to performance-based approaches are true EXCEPT A. the switch is an effort to increase productivity. B. the switch is an effort to cut costs. C. the switch is boosting employee morale. D. the switch goes against decades of encouraging workers to work in groups instead of individually. E. the switch opposes the traditional training of Japanese employees to cooperate rather than compete.

The switch is boosting employee morale

Which of the following is NOT given as an example of a decision that may require finance/accounting policies? A. To extend the time of accounts receivable B. To lease or buy fixed assets C. To establish a certain percentage discount on accounts within a specified period of time D. To use LIFO, FIFO, or a market-value accounting approach E. To be a price leader or a price follower

To be a price leader

The Dynamo Company recently repurchased $4 million of its own stock. This is the Dynamo Company's ________ stock. A. outstanding B. preferred C. treasury D. authorized E. common

Treasury

According to research, what kind of a relationship exists between corporate social responsibility and corporate financial performance? A. Positive B. No relationship C. U-shaped D. Linear E. Negative

U-Shaped

Strengths of competitors in foreign lands are often ________, and weaknesses are often ________. A. ignored; downplayed B. underestimated; overestimated C. overestimated; underestimated D. underestimated; underestimated E. overestimated; overestimated

Underestimated; overestimated