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general business data bank




Question;1. In SWOT analysis, strengths and weaknesses;are most easily identified by looking;A.;At the firm as a potential customer.;B.;Inside the firm at its;specific resources.;C.;At the firm's;competition.;D.;At the firm's product.;E.;Outside the firm from a;consultant's perspective.;2. In SWOT analysis, opportunities and threats;are identified by;A.;Consultation with middle management.;B.;Talking with the rank;and file workers.;C.;Looking outside the;firm.;D.;Brainstorming;techniques.;E.;Reviewing our corporate;strategy.;3. Which of the following does not;represent a possible opportunity for a manufacturing firm as a part of SWOT;analysis?;A.;Demographic trends.;B.;Technological advances;in the industry.;C.;An efficient process;developed by our firm for manufacturing a product.;D.;Changes in regulation of;the industry.;E.;Changes in the economic;environment facing all industries.;4. The balanced scorecard;A.;Is not comprehensive, since it doesn't;include all the CSFs which contribute to competitive success.;B.;Helps focus managers;attention to bottom line profits.;C.;Is forward looking;stressing nonfinancial measures that can lead to benefits in the future.;D.;Fails to reflect;environmental and social effects of the firm's operations.;E.;Is heavily weighted;toward the financial critical success factors (CSFs).;5. The balanced scorecard can be made more;effective by developing it at a detail level so that employees;A.;Can see how it is put together.;B.;Appreciate all the;effort that goes into its preparation.;C.;Respect management for;including them in its formulation.;D.;Can see how their;actions contribute to the success of the firm.;E.;Do not feel left out.;6. The Euro is;A.;A combination of European nations that;cooperate on economic and trade matters.;B.;A version of Disney;World located near Paris.;C.;A currency used in many;European countries.;D.;A currency used in all;European countries.;7. The main objective of value chain analysis is;to identify stages of the value chain where the firm can;A.;Justify increases in the price of the;product or service.;B.;Increase value to the;customer or reduce cost in some way.;C.;Outsource production to;other producers.;D.;Improve efficiency.;8.;It is becoming more common;to see manufacturing firms use the value chain to take strategic steps to;improve the overall profitability of the firm by;A.;Placing greater emphasis on the value;chain.;B.;Moving to an emphasis on;upstream activities in the value chain.;C.;Moving to an emphasis on;downstream activities in the value chain.;D.;Identifying most;profitable customers.;E.;Finding low-cost;manufacturing locations.;9. With regard to critical success factors;which one of the following would not be considered a financial measure of;success?;A. Cash;flow.;B.;Growth in industry;productivity.;C.;Sales growth.;D.;Earnings growth.;E.;Reduction in the cost of;inventory.;10.;Which one of the following critical success customer factors is best measured;by warranty expense?;A.;Quality.;B.;Dealer and distributor;efficiency and effectiveness.;C.;Timeliness of delivery.;D.;Customer satisfaction.;11.;Which one of the following is not usually included as a perspective of;the balanced scorecard?;A.;Financial Performance.;B.;Financial Reporting.;C.;Learning and Growth.;D.;Customer Satisfaction.;E.;Internal Business;Processes.;12.;Which of the following;best describes the type of information that cost management must provide that;is important for the success of the organization?;A.;Information of a record keeping nature.;B.;Reported financial;information.;C.;Reported nonfinancial;information.;D.;Information that;addresses the strategic objectives of the organization.;E.;Long-term planning;information.;13.;After critical success;factors (CSFs) have been identified, the next step in developing a competitive;strategy is to develop relevant and reliable measures for these CSFs. These;measures are important to help the organization;A.;Make profit for any extended period.;B.;Increase sales above;previous year(s).;C.;Develop policies to;enhance customer profitability.;D.;Improve productivity in;selected product areas.;E.;Monitor progress toward;achieving strategic goals.;14.;A firm has decided to;use the balanced scorecard. Which of the following is not an advantage;the company will gain by using the balanced scorecard?;A. It;links the firm's CSFs to its strategy.;B.;It helps the firm;monitor progress to achievement of its strategic goals.;C.;It can provide a basis;for implementing strategic changes desired by the firm.;D.;It provides a;comprehensive financial overview of the firm.;E.;It helps to coordinate;activities in the firm.;15.;During which step of value chain analysis will the company discover whether or;not it has a cost advantage, and why?;A. During;the first step, when the value-chain activities are identified.;B.;During the first step;when the cost driver(s) are identified.;C.;During the second step;when the firm develops a competitive advantage by either reducing cost or;adding value.;D.;The entire purpose of;value chain analysis is to determine if the company has a cost advantage;therefore, it occurs in all steps.;E.;In the third step, when;the company adopts and implements the balanced scorecard.;16.;A local pharmaceutical firm has just;announced its discovery of a revolutionary new drug for dieting. However, due;to its deteriorating relationship with its union, the unionized portions of the;company's employees have threatened to strike. In addition, the company's stock;has started to drop due to the firm's difficulty in paying off some of its;debt. In this example, what was the firm's core competency(ies)?;A. Its research and development. B. Its;human resources abilities. C. Its financing activities.;D.;Its operating activities.;17.;During the strengths and weaknesses portion of a firm's SWOT analysis, which of;the following would not be discovered?;A.;The firm's method of product distribution was not very efficient.;B.;Through continued research and development, the firm's products were;state-of-the-art.;C.;Due to a lack of barriers to entry into the industry, several new competitors;were beginning to enter the market. D. The production process needed to be;reengineered to reduce unnecessary scrap.;E.;The firm's employees are trained in new manufacturing methods each month.;18.;When a firm is determining its opportunities and threats, which of the;following would not be mentioned?;A.;An intense rivalry with a local competitor was beginning to start a price war.;B. The firm just received a patent on its main product.;C.;The success of the firm's latest marketing campaign.;D.;In spite of its patent, there are several substitute products consumers could;use. E. Increased efficiency in the manufacturing process.;19.;The declining value of the U.S. dollar relative to other currencies in recent;years means that;A.;U.S. exporters will face a greater challenge in exporting U.S.-made products.;B. U.S. firms will be eager to buy foreign products.;C.;U.S. firms will be less profitable.;D.;U.S. exporters will have a temporary advantage over other countries in foreign;trade. 20. The cause and effect relationships among critical success factors;are best captured in;A.;The balanced scorecard B. Business intelligence C. The value chain;D.;The strategy map E. SWOT analysis


Paper#47243 | Written in 18-Jul-2015

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