MAN 4720 CH 4

7) A(n) ideally supports the collective commitment of an organization's people to a common purpose. A) strategy B) plan C) law D) culture E) order

Answer: D

10) The functions of management can be performed best when a firm's and culture are integrated. A) finances B) business model C) profits D) external environment E) strategy

Answer: E

16) can result in powerful competitive advantages. A) Profits B) Tangible resources C) Suppliers D) Customers E) Synergy

Answer: E

47) Which of the following is NOT a key question that can reveal internal strengths and weaknesses regarding a firm's marketing function? A) Does the firm have an effective sales organization? B) Has the firm's market share been increasing? C) Are markets segmented effectively? D) Are the firm's products and services priced appropriately? E) Does the firm have good liquidity?

Answer: E

52) What category of ratios measures how effectively a firm can maintain its economic position in the growth of the economy and industry? A) Profitability B) Liquidity C) Leverage D) Revenue Growth E) Growth

Answer: E

54) Which ratio is calculated by dividing profits before interest and taxes by total interest charges? A) Inventory turnover B) Fixed assets turnover C) Total assets turnover D) Debt-to-equity ratio E) Times-interest-earned ratio

Answer: E

73) The maximum weight for a factor in the IFE Matrix is A) 0.01. B) 2. C) 3. D) 4. E) 1.

Answer: E

75) The initial step in developing an IFE Matrix is A) attaching a cost to each discrete activity. B) assigning weights to key internal factors. C) assigning ratings to key internal factors. D) obtaining weighted scores. E) developing a full and narrow list of key internal factors.

Answer: E

74) The average total weighted score in the IFE Matrix is A) 4.0. B) 2.5. C) 1.0. D) 3.2. E) 1.8.

Answer: B

17) Which management function includes breaking tasks into jobs, combining jobs to form departments, and delegating authority? A) Motivating B) Staffing C) Organizing D) Controlling E) Planning

Answer: C

2) Land is an example of a(n) resource. A) financial B) shareholder C) tangible D) intangible E) technological

Answer: C

43) Selling includes all of these marketing activities EXCEPT A) advertising. B) dealer relations. C) customer analysis. D) publicity. E) sales promotion.

Answer: C

56) Issuance of stock is a(n) decision. A) investment B) capital budgeting C) financing D) dividend E) planning

Answer: C

67) Which of the following is similar to the actuarial methods used by insurance companies to rate customers by the chance of positive or negative outcomes? A) Marketing B) Strategic planning C) Research and development D) Business analytics E) Information systems

Answer: D

65) is a business technique that involves using software to mine huge volumes of data to help executives make decisions. A) Production management B) Operations management C) Strategic planning D) Business modeling E) Business analytics

Answer: E

69) In the first six months of 2017, the United States had data breaches. A) 27 B) 2,053 C) 414 D) 198 E) 791

Answer: E

15) Which function of management includes areas such as job design, job specifications, job analysis, and unity of command? A) Planning B) Organizing C) Motivating D) Staffing E) Controlling

Answer: B

18) Which function of management is concerned with span of control and chain of command? A) Planning B) Organizing C) Controlling D) Staffing E) Motivating

Answer: B

19) Which of the following is the process of influencing people to accomplish specific objectives? A) Staffing B) Motivating C) Planning D) Controlling E) Organizing

Answer: B

50) What category of ratios measures a firm's ability to meet its short-term obligations? A) Profitability B) Liquidity C) Leverage D) Activity E) Growth

Answer: B

55) The times-interest-earned ratio would be classified as a(n) A) activity ratio. B) leverage ratio. C) profitability ratio. D) liquidity ratio. E) growth ratio.

Answer: B

6) 2 + 2 = 5 is the mathematical expression of the concept of A) motivation. B) synergy. C) empowerment. D) delegation. E) organizational culture.

Answer: B

8) Culture and must work together. A) finances B) strategy C) suppliers D) customers E) business model

Answer: B

13) All of the following are basic activities of management EXCEPT A) staffing. B) planning. C) consolidating. D) organizing. E) motivating.

Answer: C

20) The management function that is most important for strategy implementation is A) planning. B) rewarding. C) organizing. D) controlling. E) training.

Answer: C

46) Distribution includes A) customer analysis. B) pricing. C) warehousing. D) advertising. E) test marketing.

Answer: C

49) Which of the three finance and accounting decisions involves determining the best capital structure for the firm? A) Investment B) Dividend C) Financing D) Capital budgeting E) Implementation

Answer: C

51) What category of ratios includes return on total assets and return on stockholders' equity? A) Leverage B) Activity C) Profitability D) Growth E) Liquidity

Answer: C

53) Which ratio would be considered an activity ratio? A) Debt-to-equity B) Net profit margin C) Average collection period D) Earnings per share E) Current ratio

Answer: C

64) ties all business functions together and provides the basis for all managerial decisions. A) Management B) Marketing C) Information D) Technology E) Workforce

Answer: C

70) Who should perform an internal audit? A) A private auditing firm B) The organization's accounting department C) Representative managers and employees from throughout the firm D) A small team of top-level managers E) The chief executive officer

Answer: C

71) exemplifies the complexity of relationships among the functional areas of business. A) Government auditing B) External auditing C) Financial ratio analysis D) Environmental scanning E) Distribution strategy

Answer: C

72) An IFE Matrix can be developed in steps. A) three B) four C) five D) six E) two

Answer: C

76) Which of the following is the last step in developing an IFE Matrix? A) Determining the organization's structure B) Summing the weighted scores for each variable C) Obtain total weighted score D) Identifying the organization's functions of business E) Assigning a weight to each factor

Answer: C

4) A resource is valuable if it is rare, hard to imitate, or A) expensive. B) inexpensive. C) easily substitutable. D) not easily substitutable. E) inefficient.

Answer: D

44) What marketing function includes test marketing? A) Selling products and services B) Pricing C) Customer analysis D) Product and service planning E) Distribution

Answer: D

14) Which of the following does the text call an up-front investment in success? A) Planning B) Organizing C) Motivating D) Staffing E) Controlling

Answer: A

3) Since resources can more easily be bought and sold, resources are often more important for gaining and sustaining competitive advantages. A) tangible; intangible B) intangible; tangible C) tangible; organizational D) intangible; external E) internal; external

Answer: A

40) Pricing is one of the basic functions of A) marketing. B) finance/accounting. C) management information systems. D) production/operations. E) research and development.

Answer: A

41) In determining the , marketers often make decisions related to areas such as warehousing, distribution channels, and retail site locations. A) place B) product C) price D) promotion E) profit

Answer: A

42) All of the following are basic functions of marketing EXCEPT A) value chain analysis. B) product planning. C) promoting products. D) pricing products. E) distributing products.

Answer: A

45) The Robinson-Patman Act affects a company's A) pricing. B) product/service planning. C) customer analysis. D) marketing research. E) distribution.

Answer: A

77) The IFE Matrix should be in multidivisional firms. A) constructed for each autonomous division B) all-inclusive C) constructed only for the major divisions D) developed before the EFE Matrix E) revised monthly

Answer: A

9) captures the subtle, elusive, and largely unconscious forces that shape a workplace. A) Organizational culture B) Business model C) Organizational strategy D) Organizational mandate E) Regulation

Answer: A

1) A firm's strengths that cannot be easily matched or imitated by competitors are called A) internal audits. B) distinctive competencies. C) external audits. D) interrelated properties. E) internal properties.

Answer: B

11) The strategic-management process takes place largely within a particular organization's . A) business model B) culture C) finances D) supplier base E) customer base

Answer: B

12) What is the essential bridge between the present and the future that increases the likelihood of achieving desired results? A) Motivating B) Planning C) Controlling D) Staffing E) Organizing

Answer: B

48) The decision is the allocation and reallocation of capital and resources to projects, products, assets, and divisions of an organization. A) investment B) dividend C) financing D) restructuring E) benchmark

Answer: A

66) Business analytics is sometimes also called A) data mining. B) strategic planning. C) rote learning. D) process modeling. E) quality planning.

Answer: A

5) A pattern of behavior developed by an organization as it learns to cope with its problems of external adaptation and internal integration, and that has worked well enough to be considered valid and to be taught to new members as the correct way to perceive, think, and feel is called A) dysfunctional behavior. B) groupthink. C) behavior modification. D) organizational culture. E) internal audit effect.

Answer: D

68) Business analytics is used to make decisions based on information. A) future B) current C) supplier D) past E) qualitative

Answer: D

21) Which function of management includes all of those activities undertaken to ensure actual operations conform to planned operations? A) Planning B) Organizing C) Motivating D) Staffing E) Controlling

Answer: E