6561014
Descripción
Test por Ulaysha Govender, actualizado hace más de 1 año
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Creado por Ulaysha Govender
hace más de 8 años
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Pregunta 1
Pregunta
The 'principal-agent problem' refers to:
Respuesta
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The power held by suppliers over prices
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The power held by buyers over prices
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The trust of employees
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The separation of ownership from control in firms
Pregunta 2
Pregunta
Those who advocate the stakeholder view of organizations have the view that:
Respuesta
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An organization's sole purpose is to create shareholder value
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An organization's sole purpose is to make profits for the owners
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An organization has more than one purpose - it also needs to consider the society within which it operates
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An organization's sole purpose is to increase the quality of life of its employees
Pregunta 3
Pregunta
Stakeholders can be defined as:
Respuesta
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Individuals or groups that are affected by the organization
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Individuals or groups that affect the organizations
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Individuals or groups that affect and are affected by the organization
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Individuals or groups that have invested money in the organization
Pregunta 4
Pregunta
Organizational performance is a measure of how efficiently and effectively managers use available
resources to satisfy customers and achieve organizational goals.
Respuesta
-
True
-
False
Pregunta 5
Pregunta
A measure of the appropriateness of goals selected by managers for the organization and the degree to
which the organization achieves these goals is known as the effectiveness of the organization.
Respuesta
-
True
-
False
Pregunta 6
Pregunta
Which one of the following is NOT a good indicator of how well a company's present strategy is
working?
Respuesta
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The company's market share ranking and whether its share is trending up, down, or staying more or less the same
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Whether the company is regarded as a leader in some significant area (technology, product quality, customer service, product innovation and so on) and the firm's image and reputation with customers
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Whether the company's profit margins are increasing or decreasing and how large they are relative to other firms in the industry
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Whether the company's resource strengths and competitive capabilities outnumber its resource weaknesses and competitive vulnerabilities
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Whether the company is achieving its stated financial and strategic objectives and whether the company is an above-average or below-average industry performer
Pregunta 7
Pregunta
SWOT analysis:
Respuesta
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consists of three steps: identifying a company's resource strengths and weaknesses and its opportunities and threats, drawing conclusions about the company's overall situation, and translating the conclusions into strategic action to improve the company's strategy.
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provides a quick overview of where on the scale from "alarmingly weak" to "exceptionally strong" the attractiveness of the company's overall business situation ranks.
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helps provide a basis for matching the company's strategy to its internal resource capabilities and its external opportunities and threats.
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helps identify actions for improving the company's strategy.
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All of these.
Pregunta 8
Pregunta
A core competence:
Respuesta
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holds the potential for being a cornerstone of a company's strategy because it gives a company competitive capability and qualifies as a genuine company strength and resource.
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nearly always resides in the calibre of the company's assets on its balance sheet rather than in its people and in its intellectual capital; furthermore, balance sheet-related core competencies tend to be competitively more valuable than core competencies grounded in intellectual capital.
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is better suited to helping a company defend against external threats than in pursuing external market opportunities.
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is usually tied closely to the calibre of a company's manufacturing capability and/or its proprietary technology and know-how.
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is a more valuable company resource than either a "competence" or a "distinctive competence" but it is not as good a resource strength as a "competitive capability."
Pregunta 9
Pregunta
A distinctive competence:
Respuesta
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is a more important competitive asset than a core competence.
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represents competitive superiority in performing an activity and thus is a basis for building a competitive advantage over rivals.
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is a competitively important value chain activity that a company performs better than its rivals.
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is a strong candidate for being used as a cornerstone of a company's strategy.
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All of the above.
Pregunta 10
Pregunta
Which of the following is NOT a measure of the competitive power of a company's resource strengths
and competitive capabilities?
Respuesta
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How hard it is for competitors to copy a particular resource strength or competitive capability of a company
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Whether the company has more resources/capabilities than any other key rival
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Whether the resource or capability is really competitively superior to what rivals have or can do
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How easily the resource or capability can be trumped by the different resources/capabilities of rivals
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Whether the resource or capability is durable and has staying power (in the sense of not losing its value quickly because of new developments)
Pregunta 11
Pregunta
The industry or market opportunities that are most relevant to a company and those which its strategy
should aim at capturing include
Respuesta
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opportunities that are well-suited to the company's competitive capabilities and resource strengths.
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opportunities which the company has the financial resources to pursue.
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opportunities that offer important avenues for growth.
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opportunities where the company has the greatest potential for competitive advantage.
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All of the above
Pregunta 12
Pregunta
A company's value chain consists of:
Respuesta
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the activities a company performs in converting its resource weaknesses into resource strengths.
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the collection of activities it performs in the course of designing, producing, marketing, delivering, and supporting its product or service and delivering value to customers-these activities can be grouped into (a) the primary activities that are foremost in creating value for customers and (b) the related support activities that facilitate and enhance the performance of the primary activities.
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the activities a company performs to build a competence and turn it into a strong competitive capability.
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identifying the primary activities and related support activities that a company performs in developing a distinctive competence.
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identifying each and every activity that results in a cost to the company and that, therefore, has to be covered by its price.
Pregunta 13
Pregunta
A company's cost competitiveness is largely a function of:
Respuesta
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whether it does a good enough job of benchmarking its value chain activities against the value chains of competitors so that it knows exactly how low to drive its costs to be cost-competitive.
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how efficiently it manages its overall value chain activities relative to how efficiently competitors manage theirs.
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whether it does a better job of building its resource strengths more cost effectively than rivals.
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whether it possesses more core competences and competitive capabilities than rivals.
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how closely its internally-performed activities are linked to the activities performed by suppliers and to the activities performed by forward channel allies.
Pregunta 14
Pregunta
One of the most dependable ways for a company to build competitive advantage:
Respuesta
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is developing the skills, competencies, and capabilities to perform competitively crucial value chain activities better than competitors.
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is using its resource strengths to insulate itself from the impact of the five competitive forces.
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is improving the calibre of its product or service (because superior products or services are almost impossible to clone or improve upon).
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is moving into the strategic group where profit margins are highest.
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is neutralizing the external threats to a company's well-being and then focusing company resources on the company's single best market opportunity.
Pregunta 15
Pregunta
Identifying the strategic issues that company managers need to address:
Respuesta
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involves using the results of both industry and competitive analysis and what has been learned from evaluating the company's present strategy, SWOT analysis, and the evaluations of the company's own competitiveness
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entails developing a "worry list" of "how to...", "whether to....", and "what to do about....."
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is an important component of company situation analysis because a good strategy must include actions to deal with all the strategic issues that need to be addressed.
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entails locking in on what challenges the company has to overcome in order to be financially and competitively successful in the years ahead.
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All of the above.
Pregunta 16
Pregunta
"Shareholder wealth" in a firm is represented by:
Respuesta
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the number of people employed in the firm.
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the book value of the firm's assets less the book value of its liabilities.
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the amount of salary paid to its employees
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the market price per share of the firm's shares.
Pregunta 17
Pregunta
The long-run objective of financial management is to:
Respuesta
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maximize earnings per share.
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maximize the value of the firm's shares.
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maximize return on investment.
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maximize market share.
Pregunta 18
Pregunta
A(n) _______________ would be an example of a principal, while a(n) ________________
would be an example of an agent.
Respuesta
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shareholder; manager
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manager; owner
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accountant; bondholder
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shareholder; bondholder
Pregunta 19
Pregunta
The decision function of financial management can be broken down into the ____________
decisions.
Respuesta
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financing and investment
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investment, financing, and asset management
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financing and dividend
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capital budgeting, cash management, and credit management
Pregunta 20
Pregunta
A company's ____________________ is (are) potentially the most effective instrument of good
corporate governance.
Respuesta
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shareholders
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board of directors
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top executive officers
Pregunta 21
Pregunta
Growth means:
Respuesta
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change
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stability
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effectiveness
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efficiency
Pregunta 22
Pregunta
Entrenched companies may have cost advantages not available to potential rivals. This is an
example of:
Respuesta
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capital requirements
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cost disadvantage independent of size
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economies of scale
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government policy
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profitability gap
Pregunta 23
Pregunta
Which of the following financial objectives best relates to a firm's ability to meet its short-term
financial obligations?
Respuesta
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Liquidity
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Profitability
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Efficiency
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Stability
Pregunta 24
Pregunta
Which of the following financial objectives best relates to how productively a firm uses its assets
relative to its revenues and its profits?
Respuesta
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Liquidity
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Profitability
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Efficiency
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Stability
Pregunta 25
Pregunta
_____ is a written report that quantitatively describes a firm's financial health.
Respuesta
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A forecast
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A budget
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A business plan
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A financial statement
Pregunta 26
Pregunta
Friedman (1962) is a famous exponent of the view that:
Respuesta
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Business is business
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Business is society
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Business is politics
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Business is power
Pregunta 27
Pregunta
Benchmarking is a popular tool to measure performance. Benchmarking involves the continual process
of comparing organizational performance against:
Respuesta
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Industry standards
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High achieving organizations
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Rivals
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Organizations within the same industry
Pregunta 28
Pregunta
Which of the following statements regarding flaws suffered by financial measures is not correct?
Respuesta
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They are hard to quantify.
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They do little to motivate employees to improve accounting profits.
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They are not effective in getting managers' attention.
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They are useful in identifying operational problems.
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None of the above.
Pregunta 29
Pregunta
The description of an organization's values, definition of its responsibilities to stakeholders, and
identification of its major strategies is known as a:
Respuesta
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business-level strategy.
-
business model.
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mission statement.
-
balanced scorecard.
-
None of the above.
Pregunta 30
Pregunta
The description of how different levels and employees in the organization must perform for the
organization to achieve its goals is a:
Respuesta
-
business-level strategy.
-
business model.
-
mission statement.
-
balanced scorecard.
-
None of the above.
Pregunta 31
Pregunta
What term is used to describe the continuous process of measuring a company's own products,
services, and activities against competitors' performance?
Respuesta
-
Balanced scorecard
-
Business-level strategy
-
Benchmarking
-
Internal calibration
-
None of the above.
Pregunta 32
Pregunta
Which of the following statements regarding multiple measures or a single measure of performance is
not correct?
Respuesta
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The advantage of using branch profits to evaluate branch managers is that profit is relatively simple to compute and reflects the organization's ultimate goal.
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The use of multiple measures can influence branch managers' decisions by changing the components of the performance measurement system to reflect changes in the firm's strategy.
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If the branch managers are more knowledgeable than the corporate staff about local conditions and what local clients value, a single measure could be preferable.
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If the corporate office has better knowledge of what it requires to operate a profitable branch, using multiple measures provides a way to communicate this knowledge and achieve common branch operations
-
All of the above are correct statements.
Pregunta 33
Pregunta
Which of the following is not a reason that worker involvement is important in an effective performance
measurement system?
Respuesta
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Many managers believe that when workers take on real decision-making authority, their commitment to the organization and its objectives increases.
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When decision-making responsibility lies with workers closer to the customer, workers are more responsive to customer concerns and can make informed decisions.
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Giving decision-making responsibility to workers uses their skills and knowledge and motivates them to further develop those skills and knowledge in an effort to improve the organization's performance.
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Workers are more likely to understand financial measures than nonfinancial measures.
Pregunta 34
Pregunta
Taking a bribe is:
Respuesta
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A violation of human rights
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A violation of an individual's right to privacy
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A violation of distributive justice
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A violation of common decency
Pregunta 35
Pregunta
Ethical behavior is not in the long-term interest of businesses.
Respuesta
-
True
-
False
Pregunta 36
Pregunta
Extortion is an attempt to buy:
Respuesta
-
Goods and services quickly
-
Influence
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At a discount
-
Goodwil
Pregunta 37
Pregunta
Distributive justice refers to:
Respuesta
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Rewards allocated to those who shout loudest
-
Rewards allocated by level of contribution
-
Rewards allocated to those who cannot help themselves
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Rewards allocated regardless of contribution
Pregunta 38
Pregunta
Ethical business practice requires, above all else, an active awareness and consideration of the likely
long-term consequence of any action.
Respuesta
-
True
-
False
Pregunta 39
Pregunta
By professing ethical behavior, organisations in the ____________ hope to avoid threats of litigation,
boycotts, strikes and shareholder alienation.
Respuesta
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Reactive
-
Compliant
-
Immoral
-
None of the above.
Pregunta 40
Pregunta
Amoral management conforms to high standards of ethical behavior.
Respuesta
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True
-
False
Pregunta 41
Pregunta
Amoral managers practice a style of management devoid of ethical principles and active opposition to
what is ethical.
Respuesta
-
True
-
False
Pregunta 42
Pregunta
It is important for businesses to practice ethical behaviour to________________.
Respuesta
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Avoid conflict and promote distributive justice.
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Promote conservation of resources and preserve corporate reputation.
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Promote long term profitability and avoid societal conflict.
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All of the above.
Pregunta 43
Pregunta
Which one of the following managers does not factor ethical considerations into own actions since
business activity lies outside sphere of moral judgment?
Respuesta
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Immoral managers
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Intentionally amoral managers
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Both a) and b).
Pregunta 44
Pregunta
The income statement reflects a firm's results over a period of time.
Respuesta
-
True
-
False
Pregunta 45
Pregunta
The three major criteria managers should look for when selecting employees are physical, mental and
________________capability?
Respuesta
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Intellectual
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Emotional
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Psychological
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Physiological
Pregunta 46
Pregunta
A system for providing employees with regular feedback on their performance is known as
___________________?
Respuesta
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Empowerment
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Enrichment
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Appraisal
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Enhancement
Pregunta 47
Pregunta
Which of the following is not usually associated with a highly motivated workforce?
Respuesta
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High quality work output
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High staff turnover
-
High work satisfaction
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High staff involvement
Pregunta 48
Pregunta
The purpose of the Basic Conditions of Employment Act is to give effect to and regulate the right to fair
labour practices conferred by section 23(1) of the Constitution by:
Respuesta
-
establishing and enforcing basic conditions of employment
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regulating the variation of basic conditions of employment
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to give effect to obligations incurred as a member state of the International Labour Organisation
-
all of the above
Pregunta 49
Pregunta
The purpose of the Employment Equity Act, 55 of 1998 is to achieve equity in the workplace by :
Respuesta
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a) promoting equal opportunity and fair treatment in employment through the elimination of unfair discrimination
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implementing affirmative action measures to redress the disadvantages in employment experienced b) by designated groups, to ensure their equitable representation in all occupational categories and levels in the workforce
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c) to advance the interests of historically disadvantaged individuals
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a) and b)
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a) and c)
Pregunta 50
Pregunta
The principal purpose of the Labour Relations Act is to advance economic development, social
justice, labour peace and the democratisation of the workplace by fulfilling the primary objects of
this Act, which are:
Respuesta
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To give effect and regulate the fundamental rights conferred by section 27 of the Constitution
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To give effect to obligations incurred by the Republic as a member state of the International Labour
-
Organisation To provide a framework within which employees and their trade unions, employers and employers’ organisations can collectively bargain to determine matters of mutual interest and formulate industrial policy
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To promote orderly collective bargaining, employee participation in decision-making in the workplace and effective resolution of labour disputes
-
all of the above
Pregunta 51
Pregunta
The Labour Market Review has sought to review the following legislations:
Respuesta
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Basic Conditions Employment Act, Labour Relations Act, Employment Equity Act, Compensation for Occupational Injuries and Diseases Act, Unemployment Insurance Act, Skills Development Act
-
Basic Conditions Employment Act, and Labour Relations Act, Employment Equity Act
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Compensation for Occupational Injuries and Diseases Act, Unemployment Insurance Act, Skills Development Act
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Basic Conditions Employment Act, and Labour Relations Act, Unemployment Insurance Act, Skills Development Act
Pregunta 52
Pregunta
Amendments have been effected to the following Acts to fulfil South Africa’s obligations as a
member state of the International Labour Organisation
Respuesta
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Compensation for Occupational Injuries and Diseases Act, Unemployment Insurance Act, Skills Development Act
-
Labour Relations Act , Basic Conditions of Employment Act , Employment Equity Act
-
none of the above
Pregunta 53
Pregunta
The ILO action their Decent Work agenda by focusing on four key objectives
Respuesta
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Creating Jobs
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Guaranteeing rights at work
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Extending social protection
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Promoting social dialogue
-
all of the above
Pregunta 54
Pregunta
Unethical behaviour in business can be reduced if management does all of the following except
Respuesta
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establish clear policies on unethical behavior.
-
limit opportunities for unethical behavior.
-
establish formal rules and procedures.
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punish unethical behavior firmly.
-
depend totally on employees' personal ethics.
Pregunta 55
Pregunta
Which of the following best describes the relationship between utilitarianism and consequentialism?
Respuesta
-
Utilitarianism is a form of consequentialism.
-
Consequentialism is a form of utilitarianism.
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Utilitarianism and consequentialism are completely independent theories.
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Utilitarianism and consequentialism are inconsistent.
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