management exists to provide advice and assistance to those responsible for attaining the objectives of the organization. O A. Line O B. Staff O C. Functional OD. Risk
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- A business has the responsibilities to which of the following? A- Customers B- Owners and shareholders C- Employees D- All of the optionsThe organization charts represent which of the following? a. The goal of a company b. The list of stakeholders of the company c. Overall view of the organization function and relationship d. The forecast of future opportunities13. Business model describes the rationale of how an organization makes, transports, and captures value in economic, social, cultural or other contexts A. True B. False
- addresses changes within the internal and the external business environment, and can range from strikes to natural disasters, bereavement and other occurrences O a. Organizational Planning O b. Strategic Planning O c. Contingency Planning O d. Disaster PlanningThe fundamental purpose for the existence of any organization is described by its: A. Policies B. Procedures C. Mission D. StrategyWhy is it important to set financial objectives? a. To overtake key competitors on such important measures as net profit margins and return on investment. b. Without adequate profitability and financial strength, the company's ultimate survival is jeopardized. c. To convince shareholders that top management is acting in their interests. d. To translate the company's business model into action items. e. To indicate to employees that financial objectives always take precedence over strategic objectives. Companies set strategic objectives: a. to achieve a company's strategic vision. b. because they are more difficult to achieve and harder to measure than financial objectives. c. to target outcomes that indicate a company is strengthening its market standing, competitive position, and future business prospects. d. to help managers track an organization's true progress better than financial objectives. e. to indicate to employees that strategic objectives always take…
- The strategic management process is: a. A decision-making activity concerned with a firm’s internal resources, capabilities, and competencies, independent of the conditions in its external environment. b. The full set of commitments, decisions, and actions required for the firm to achieve above-average returns and strategic competitiveness. c. A process directed by top-management with input from other stakeholders that seeks to achieve above-average returns for investors through effective use of the organization’s resources. d. A set of activities that will assure a temporary advantage and average returns forthe firm.65) Which of the following is a motivation to hire a board member from outside of the company? a) External director have a broader perspective on the firms operations and they are not overly biased towards what is happening in the firm. b) External directors can provide detailed information on firm operations and are biased in favor of the company. c) Both A and B d) Neither A nor B1. Financial planners work_ a) Independent of other departments c) Only with the production department b) In coordination with all departments d) With inputs only from the top 2. _conveys the ultimate goal of the organization. b) Mission c) Objectives a) Goals d) Vision 3. _defines the nature of the business, and its current business activities to realize its vision. a) Goals b) Mission c) Objectives d) Vision 4. _refers to accounts payable and accruals incurred because of increase in assets other than property, plant and equipment. a) Cost of sales ratio b) Dividend payout ratio c) Retention ratio d) Spontaneous liability 5. Lare specific and short-term directions for the actions to be done to reach the goals. d) Vision a) Goals b) Mission c) Objectives 6. is the portion of earnings that is plowed back to the business. b) Dividend payout ratio a) Cost of sales ratio c) Retention ratio d) Spontaneous liability
- The following are responsibilities of middle level managers, except: a. Motivate the activities of the lower-level managers. b. Supervise and working with the operating employees. c. Formulate objectives for the department. d. Calculate the success of the departmentMiddle managers are responsible for the organization's overall success. O a. True © b. FalseWho is responsible for the overall management and performance of the Company? a. Lower level manager b. Junior level manager c. Top level manager d. Middle level manager