COB 487 EXAM 1 QUIZ QUESTIONS & ANSWERS
Richard Branson, founder of the Virgin Group, empowers his companies through a(n)
________ structure in which anyone can bring forth new ideas.
- informal
- hierarchal
- multi-level
- formal - Answer -informal
The hierarchy of organizational goals is in the following order (least specific to most
specific):
- mission statements, vision statements, strategic objectives.
- vision statements, strategic objectives, mission statements.
- mission statements, strategic objectives, vision statements.
- vision statements, mission statements, strategic objectives. - Answer -vision
statements, mission statements, strategic objectives.
The ROI on sustainability efforts can be difficult to quantify because
- the payback period is on a different time frame.
- the payback period is on the same time frame.
- benefits from such projects are tangible.
- an excess of necessary data for accurate calculation is readily available. - Answer -
the payback period is on a different time frame.
Managers should do more than focus on short-term financial performance. One concept
that helps managers do this is stakeholder symbiosis. This means that
- all stakeholders want to maximize shareholder returns.
- one can only gain at the expense of someone else.
- stakeholders are dependent on each other for their success.
- stakeholders look out for their individual interests. - Answer -stakeholders are
dependent on each other for their success.
Strategy implementation can be the most difficult part of the strategic management
process. Which of the following is not likely to be a cause of implementation failure?
- leadership
- organizational commitment to excellence
- coordination and integration of activities within and outside of the firm
- competition - Answer -competition
In contrast to the vision of an organization, its mission should
- be shorter in length.
- encompass both the purpose of the company as well as the basis of competition.
- encompass all the major rules and regulations of the corporate work force.
- be less detailed. - Answer -encompass both the purpose of the company as well as
the basis of competition
, All the following are ambidextrous behaviors except
- taking initiative and being alert to opportunities beyond the job description.
- being brokers, always looking to build internal linkages.
- intensely focusing on the responsibilities of one individual and maximizing the output
of the department in the organization in which that individual works.
- being cooperative and seeking opportunities to combine personal efforts with that of
others. - Answer -intensely focusing on the responsibilities of one individual and
maximizing the output of the department in the organization in which that individual
works.
Which of the following is not an internal control that ensures effective corporation
governance?
- threat of hostile takeovers
- an effective and engaged board of directors
- proper managerial rewards and incentives
- shareholder activism - Answer -threat of hostile takeovers
The three participants in corporate governance are the shareholders,
- board of directors, and management.
- labor unions, and employees.
- banks and lending institutions, and management.
- board of directors, and employees. - Answer -board of directors, and management.
Strategic management involves the recognition of trade-offs between effectiveness and
- value.
- return on investment.
- efficiency.
- cost. - Answer -efficiency
WellPoint Health Network states: WellPoint will redefine our industry through a new
generation of consumer-friendly products that put individuals back in control of their
future. This is an example of a
- vague statement of direction.
- strategic objective.
- line manager's individual goal.
- vision statement. - Answer -vision statement
________ may be considered the advance work that must be done in order to
effectively formulate and implement strategies.
- Goal setting
- Corporate entrepreneurship
- Organizational design
- Strategy analysis - Answer -Strategy analysis
Scanning the general environment would identify information on
Richard Branson, founder of the Virgin Group, empowers his companies through a(n)
________ structure in which anyone can bring forth new ideas.
- informal
- hierarchal
- multi-level
- formal - Answer -informal
The hierarchy of organizational goals is in the following order (least specific to most
specific):
- mission statements, vision statements, strategic objectives.
- vision statements, strategic objectives, mission statements.
- mission statements, strategic objectives, vision statements.
- vision statements, mission statements, strategic objectives. - Answer -vision
statements, mission statements, strategic objectives.
The ROI on sustainability efforts can be difficult to quantify because
- the payback period is on a different time frame.
- the payback period is on the same time frame.
- benefits from such projects are tangible.
- an excess of necessary data for accurate calculation is readily available. - Answer -
the payback period is on a different time frame.
Managers should do more than focus on short-term financial performance. One concept
that helps managers do this is stakeholder symbiosis. This means that
- all stakeholders want to maximize shareholder returns.
- one can only gain at the expense of someone else.
- stakeholders are dependent on each other for their success.
- stakeholders look out for their individual interests. - Answer -stakeholders are
dependent on each other for their success.
Strategy implementation can be the most difficult part of the strategic management
process. Which of the following is not likely to be a cause of implementation failure?
- leadership
- organizational commitment to excellence
- coordination and integration of activities within and outside of the firm
- competition - Answer -competition
In contrast to the vision of an organization, its mission should
- be shorter in length.
- encompass both the purpose of the company as well as the basis of competition.
- encompass all the major rules and regulations of the corporate work force.
- be less detailed. - Answer -encompass both the purpose of the company as well as
the basis of competition
, All the following are ambidextrous behaviors except
- taking initiative and being alert to opportunities beyond the job description.
- being brokers, always looking to build internal linkages.
- intensely focusing on the responsibilities of one individual and maximizing the output
of the department in the organization in which that individual works.
- being cooperative and seeking opportunities to combine personal efforts with that of
others. - Answer -intensely focusing on the responsibilities of one individual and
maximizing the output of the department in the organization in which that individual
works.
Which of the following is not an internal control that ensures effective corporation
governance?
- threat of hostile takeovers
- an effective and engaged board of directors
- proper managerial rewards and incentives
- shareholder activism - Answer -threat of hostile takeovers
The three participants in corporate governance are the shareholders,
- board of directors, and management.
- labor unions, and employees.
- banks and lending institutions, and management.
- board of directors, and employees. - Answer -board of directors, and management.
Strategic management involves the recognition of trade-offs between effectiveness and
- value.
- return on investment.
- efficiency.
- cost. - Answer -efficiency
WellPoint Health Network states: WellPoint will redefine our industry through a new
generation of consumer-friendly products that put individuals back in control of their
future. This is an example of a
- vague statement of direction.
- strategic objective.
- line manager's individual goal.
- vision statement. - Answer -vision statement
________ may be considered the advance work that must be done in order to
effectively formulate and implement strategies.
- Goal setting
- Corporate entrepreneurship
- Organizational design
- Strategy analysis - Answer -Strategy analysis
Scanning the general environment would identify information on
