BUSI 400/690 LIBERTY UNIVERSITY 01.06.14 QUESTIONS
WITH ACCURATE ANSWERS
Acquisition correct answer large org purchases a smaller firm, or vice versa
Activity Ratios correct answer how effectively a firm uses resources
Aggressive Quadrant correct answer upper right on SPACE. Organization is in
position to use internal strengths to take advantage of external opportunities,
overcome internal weaknesses, and avoid external threats. Use: Integration,
market penetration, market development, product development, and/or
diversification
Annual Objectives correct answer essential for strategy implementation because
they represent the basis for allocating resources, are a primary mechanism for
evaluating managers, are the major instrument for monitoring progress toward
achieving l-t objectives and est. organizational, divisional, and departmental
priorities
Annual Objectives correct answer short term milestones that orgs must achieve to
reach long term objectives. Measurable, quantitative, challenging, realistic,
consistent, and prioritized
Attractiveness Scores correct answer QSPM Step 4. Numerical values that indicate
relative attractiveness of each strategy in a given set of alternatives. Determined
by examining key factors and asking "does it affect the choice of strategies being
made?"
,Auditing correct answer systematic process of objectively obtaining and
evaluating evidence regarding assertions about economic actions and events to
ascertain the degree of correspondence between these assertions and
established criteria, & communication the results to interested users."
Avoidance correct answer Means of resolving conflict that includes ignoring
problems or physically separating the groups.
Backward Integration correct answer seeking increased control or ownership of
suppliers. When suppliers are unreliable, costly, can't meet needs.
Balanced Scorecard correct answer balancing financial and non-financial
measures. Combination of strategic and financial objectives tailored to firm's
business.
Balanced Scorecard correct answer Requires that firms seek answers and utilize
the information, along with financial measures, to adequately and more
effectively evaluate strategies being implemented
1) How well is the firm continually improving & creating value along measures
such as innovation, technological leadership, product quality, operation process
efficiencies, etc?
2) How well is the firm sustaining and improving upon its core competencies and
competitive advantage?
3) How satisfied are the firm's customers?
Bankruptcy correct answer can be effective retrenchment strategy.
,BCG Matrix correct answer Designed to enhance a multidivisional firm's efforts to
formulate strategies. BCG is a private management consulting firm based in
Boston.
BE Point correct answer quantity of units a firm must sell in order for TR to equal
TC
Benchmarking correct answer analytical tool used to determine whether a firm's
value chain activities are competitive compared to rivals. Determining "best
practices"
Benchmarking correct answer Firms often decide to restructure based on ratios
found from benchmarking exercises
Board of Directors correct answer group of individuals elected by ownership of
corporation to have oversight and guidance over management who look out for
shareholder's interests
Bonus System correct answer ways to link performance to pay. When employees
agree upon goals and are rewarded for meeting them.
BPO correct answer companies taking over functional operations of other firms.
Less expensive, allows firms to focus on other things, enables firm to provide
better services.
Bribe correct answer Gift bestowed to influence a recipient's conduct
, Bribery correct answer Offering, giving, receiving, or soliciting of any item of value
to influence the actions of an official of other person in discharge of a public or
legal duty.
Business Analytics correct answer MIS technique that involves using software to
mine huge volumes of data to help execs make decisions.
Business Ethics correct answer ...
Business Portfolio correct answer made up by autonomous divisions (profit
centers) of an organization. When these divisions compete in different industries,
different strategies must be developed for each.
Capital budgeting correct answer also investment decision
Cash Budget correct answer Most common type of budget. Cash flow statement.
Receipts and disbursements of cash.
Cash Cows correct answer Quadrant III in BCG. High relative market share position
and compete in low-growth industry. Generate cash in excess of needs. Should be
managed to hold position for as long as possible. "yesterday's stars." Product
development and diversification strategies.
Ch 7 Bankruptcy correct answer used only when corp has no hope. All assets sold
for tangible worth
Ch 9 Bankruptcy correct answer Municipalities.
WITH ACCURATE ANSWERS
Acquisition correct answer large org purchases a smaller firm, or vice versa
Activity Ratios correct answer how effectively a firm uses resources
Aggressive Quadrant correct answer upper right on SPACE. Organization is in
position to use internal strengths to take advantage of external opportunities,
overcome internal weaknesses, and avoid external threats. Use: Integration,
market penetration, market development, product development, and/or
diversification
Annual Objectives correct answer essential for strategy implementation because
they represent the basis for allocating resources, are a primary mechanism for
evaluating managers, are the major instrument for monitoring progress toward
achieving l-t objectives and est. organizational, divisional, and departmental
priorities
Annual Objectives correct answer short term milestones that orgs must achieve to
reach long term objectives. Measurable, quantitative, challenging, realistic,
consistent, and prioritized
Attractiveness Scores correct answer QSPM Step 4. Numerical values that indicate
relative attractiveness of each strategy in a given set of alternatives. Determined
by examining key factors and asking "does it affect the choice of strategies being
made?"
,Auditing correct answer systematic process of objectively obtaining and
evaluating evidence regarding assertions about economic actions and events to
ascertain the degree of correspondence between these assertions and
established criteria, & communication the results to interested users."
Avoidance correct answer Means of resolving conflict that includes ignoring
problems or physically separating the groups.
Backward Integration correct answer seeking increased control or ownership of
suppliers. When suppliers are unreliable, costly, can't meet needs.
Balanced Scorecard correct answer balancing financial and non-financial
measures. Combination of strategic and financial objectives tailored to firm's
business.
Balanced Scorecard correct answer Requires that firms seek answers and utilize
the information, along with financial measures, to adequately and more
effectively evaluate strategies being implemented
1) How well is the firm continually improving & creating value along measures
such as innovation, technological leadership, product quality, operation process
efficiencies, etc?
2) How well is the firm sustaining and improving upon its core competencies and
competitive advantage?
3) How satisfied are the firm's customers?
Bankruptcy correct answer can be effective retrenchment strategy.
,BCG Matrix correct answer Designed to enhance a multidivisional firm's efforts to
formulate strategies. BCG is a private management consulting firm based in
Boston.
BE Point correct answer quantity of units a firm must sell in order for TR to equal
TC
Benchmarking correct answer analytical tool used to determine whether a firm's
value chain activities are competitive compared to rivals. Determining "best
practices"
Benchmarking correct answer Firms often decide to restructure based on ratios
found from benchmarking exercises
Board of Directors correct answer group of individuals elected by ownership of
corporation to have oversight and guidance over management who look out for
shareholder's interests
Bonus System correct answer ways to link performance to pay. When employees
agree upon goals and are rewarded for meeting them.
BPO correct answer companies taking over functional operations of other firms.
Less expensive, allows firms to focus on other things, enables firm to provide
better services.
Bribe correct answer Gift bestowed to influence a recipient's conduct
, Bribery correct answer Offering, giving, receiving, or soliciting of any item of value
to influence the actions of an official of other person in discharge of a public or
legal duty.
Business Analytics correct answer MIS technique that involves using software to
mine huge volumes of data to help execs make decisions.
Business Ethics correct answer ...
Business Portfolio correct answer made up by autonomous divisions (profit
centers) of an organization. When these divisions compete in different industries,
different strategies must be developed for each.
Capital budgeting correct answer also investment decision
Cash Budget correct answer Most common type of budget. Cash flow statement.
Receipts and disbursements of cash.
Cash Cows correct answer Quadrant III in BCG. High relative market share position
and compete in low-growth industry. Generate cash in excess of needs. Should be
managed to hold position for as long as possible. "yesterday's stars." Product
development and diversification strategies.
Ch 7 Bankruptcy correct answer used only when corp has no hope. All assets sold
for tangible worth
Ch 9 Bankruptcy correct answer Municipalities.
