BUSI 310 FINAL EXAM QUESTIONS
WITH CORRECT DETAILED
ANSWERS
The process by which an organization compares its performance against not only its
competitors but also other high performing organizations is referred to as
a. Vertical integration
b. Benchmarking
c. Operational planning
d. Contingency planning - Answer-b. Benchmarking
Concentration, vertical integration, conglomerate diversification, and concentric
diversification are all types of
a. Benchmarking
b. Contingency planning
c. Operational planning
d. Strategy formulation - Answer-d. Strategy formulation
Strategic plans that are made at mid-level of an organization are
a. Operational plans
b. Tactical plans
c. Contingency plans
d. Scenario plans - Answer-b. Tactical plans
When a company adds new products or business that are unrelated to any of the
organization's products, markets, or business, the organization is employing
a. Concentric diversification
b. Backward integration
c. Conglomerate diversification
d. Forward integration - Answer-c. Conglomerate diversification
Which of the following does NOT describe a well written policy?
a. Complete
b. Objective
c. Subjective
d. Coherent - Answer-c. Subjective
,Bring in outside assessors, evaluating the team, performing risk analysis and
implementing an early warning system are all steps that ____ manager would need to
take
a. Operations
b. Project
c. Human Resources
d. Inventory - Answer-b. Project
Which of the following is true of Scenario planning?
a. Managers develop alternative goals and actions
b. Implementation determines the parctical direction, objectives, goals, and plans of the
organization
c. It is particularly useful for an organization attempting to mitigate risks in certain
ventures
d. Both A and B - Answer-c. It is particularly useful for an organization attempting to
mitigate risks in certain ventures
Which of the following is NOT one of the five lessons managers should apply to better
understand and control risk?
a. Create a culture that insists on facing uncertainty
b. Think in probabilities
c. Build scenarios
d. Use the power of markets - Answer-a. Create a culture that insists on facing
uncertainty
Internal controls
a. Can be classified as preventative or detective
b. Are largely out of an organizational's control
c. Are used to identify an error or irregularity
d. Both A and C - Answer-d. Both A and C
The components of the internal control process are
a. Control the environment, risk assessment, control activities, employee monitoring,
communication monitoring
b. Environment assessment, risk assessment, control activities, employee monitoring,
communication monitoring
c. Control the environment, performance assessment, control activities, information
monitoring, operations monitoring
, d. Control environment, risk assessment, control activities, information monitoring,
communication monitoring - Answer-d. Control environment, risk assessment, control
activities, information monitoring, communication monitoring
The third step in the MBO process is
a. Objectively viewing the goals previously set
b. Organizational leaders setting goals
c. Subordinate and supervisor meeting to develop goals
d. None of the above - Answer-a. Objectively viewing the goals previously set
Formal discipline can include
a. Legal action, suspension, reprimand
b. Reprimand, suspension, termination
c. Planning and guiding a project from beginning to end
d. Ensure the ordering of the correct amount and kind of materials - Answer-b.
Reprimand, suspension, termination
Which of the following is involved in inventory management?
a. Forecasting and replenishment activities
b. Transformation of a company's input into outputs
c. Planning and guiding a project from beginning to end
d. Ensure the ordering of the correct amount and kind of materials - Answer-a.
Forecasting and replenishment activities
Which of the following is NOt included in an organizational chart?
a. Formal reporting structure
b. Levels of management
c. Work responsibilities
d. Organizational goals and policies - Answer-d. Organizational goals and policies
When an organization organize employees by comparable duties, the organization is
said to have a
a. Divisional structure
b. Matrix structure
c. Functional structure
d. None of the above - Answer-c. Functional structure
All of the following are advantages of a Matrix structure EXCEPT
a. High-quality technical problem solving
b. Members bring different areas of expertise
WITH CORRECT DETAILED
ANSWERS
The process by which an organization compares its performance against not only its
competitors but also other high performing organizations is referred to as
a. Vertical integration
b. Benchmarking
c. Operational planning
d. Contingency planning - Answer-b. Benchmarking
Concentration, vertical integration, conglomerate diversification, and concentric
diversification are all types of
a. Benchmarking
b. Contingency planning
c. Operational planning
d. Strategy formulation - Answer-d. Strategy formulation
Strategic plans that are made at mid-level of an organization are
a. Operational plans
b. Tactical plans
c. Contingency plans
d. Scenario plans - Answer-b. Tactical plans
When a company adds new products or business that are unrelated to any of the
organization's products, markets, or business, the organization is employing
a. Concentric diversification
b. Backward integration
c. Conglomerate diversification
d. Forward integration - Answer-c. Conglomerate diversification
Which of the following does NOT describe a well written policy?
a. Complete
b. Objective
c. Subjective
d. Coherent - Answer-c. Subjective
,Bring in outside assessors, evaluating the team, performing risk analysis and
implementing an early warning system are all steps that ____ manager would need to
take
a. Operations
b. Project
c. Human Resources
d. Inventory - Answer-b. Project
Which of the following is true of Scenario planning?
a. Managers develop alternative goals and actions
b. Implementation determines the parctical direction, objectives, goals, and plans of the
organization
c. It is particularly useful for an organization attempting to mitigate risks in certain
ventures
d. Both A and B - Answer-c. It is particularly useful for an organization attempting to
mitigate risks in certain ventures
Which of the following is NOT one of the five lessons managers should apply to better
understand and control risk?
a. Create a culture that insists on facing uncertainty
b. Think in probabilities
c. Build scenarios
d. Use the power of markets - Answer-a. Create a culture that insists on facing
uncertainty
Internal controls
a. Can be classified as preventative or detective
b. Are largely out of an organizational's control
c. Are used to identify an error or irregularity
d. Both A and C - Answer-d. Both A and C
The components of the internal control process are
a. Control the environment, risk assessment, control activities, employee monitoring,
communication monitoring
b. Environment assessment, risk assessment, control activities, employee monitoring,
communication monitoring
c. Control the environment, performance assessment, control activities, information
monitoring, operations monitoring
, d. Control environment, risk assessment, control activities, information monitoring,
communication monitoring - Answer-d. Control environment, risk assessment, control
activities, information monitoring, communication monitoring
The third step in the MBO process is
a. Objectively viewing the goals previously set
b. Organizational leaders setting goals
c. Subordinate and supervisor meeting to develop goals
d. None of the above - Answer-a. Objectively viewing the goals previously set
Formal discipline can include
a. Legal action, suspension, reprimand
b. Reprimand, suspension, termination
c. Planning and guiding a project from beginning to end
d. Ensure the ordering of the correct amount and kind of materials - Answer-b.
Reprimand, suspension, termination
Which of the following is involved in inventory management?
a. Forecasting and replenishment activities
b. Transformation of a company's input into outputs
c. Planning and guiding a project from beginning to end
d. Ensure the ordering of the correct amount and kind of materials - Answer-a.
Forecasting and replenishment activities
Which of the following is NOt included in an organizational chart?
a. Formal reporting structure
b. Levels of management
c. Work responsibilities
d. Organizational goals and policies - Answer-d. Organizational goals and policies
When an organization organize employees by comparable duties, the organization is
said to have a
a. Divisional structure
b. Matrix structure
c. Functional structure
d. None of the above - Answer-c. Functional structure
All of the following are advantages of a Matrix structure EXCEPT
a. High-quality technical problem solving
b. Members bring different areas of expertise
