CHAPTER 2 QUIZ 1 | Which of the following best describes a company that follows the inherence theory of social responsibility? | a. | Managers are responsible to shareholders, but serve them best by being responsible to larger society. | | | b. | Managers answer only to shareholders and act only with shareholders interests in mind.
What should be remedied? Executive Summary: Introduction: Taking into consideration the relatively large size of the organization, we shall implement this study on one branch only instead of to review the process of attending customers over the counters in the branch instead implementing on the organization overall. We shall assess the operational processes whether it is flexible or bureaucratic, does it meet customer satisfaction or not. We also shall measure the performance and identify whether it is efficient or there is a room of
(TCO A) Contrast the mindset of management under total quality and more traditional management structures with respect to employees, manufacturing, and leadership. 2. (TCO B) Explain each of the following statements as they apply to modern quality management. a. Customer service is the rule, not the exception.
Low inventory with materials sent directly to work stations C. Long term, collaborative contracts with suppliers D. The ability to “pull” production rather than “push” it from the front end E. All of the above Answer Key: E Question 3 of 8 12.5 Points Which of the following is not a definition of SCM? A. SCM is an integrating philosophy to manage the total flow of a distribution channel from supplier to the ultimate customer. B. SCM encompasses integrative management of the sequential flow of logistical, conversion and service activities from vendors to ultimate consumers necessary to produce a product of service efficiently and effectively. C. SCM is a strategic concept that involves the understanding and managing of the sequence of activities - from supplier to customer - that add value to the product supply chain. D. Supply chain management is the mathematical optimization of the supply chain system using formulas derived from operations research theory.
ACCOUNTING 256 FIRST MIDTERM Review Problems Multiple Choice—Choose the best answer. Managerial accounting is concerned with: The company as a whole, rather than with the segments of a company. The data needs of stockholders and creditors. The relevance and flexibility of data rather than precision. Meeting the requirements of generally accepted accounting principles.
It would be a little more difficult to maintain personal relationships with customers on such a large scale as Total Facility operates. The other business selected for contrast and comparison is Sierra Group. Sierra Group is a large scale construction that has an add-on facility maintenance component. The services offered by Sierra Group’s facility maintenance division are comparable to IMS with the exception that Sierra Group offers voice and data services while IMS does not. Sierra Group also uses assigned dedicated project manager to coordinate customer request while IMS utilizes a single service center to handle all customer requests.
The commands come from the boss and are passed down to the second in command to put in effect the commands. Each person has their position in the corporation and are enlisted grounded on the skill level (Abadinsky, 2007). The chain of command is one of the key procedures of the corporation. Every individual need to comprehend the pecking order to carry out the order given without difficulty. When the organization has gotten to a magnitude that obliges more individuals suitable to carry out the expectancies the operations creates typical guidelines and protocols.
MGT 498 Final Exam Latest 1. According to Porter, the corporation is most concerned with • the aggregate level of demand for a product line • the amount of pressure from the societal environment • the intensity of competition within its industry • a market's position on its life cycle 2. Which strategy specifies the firm's overall direction in terms of its general orientation toward growth, the industries or markets in which it competes, and the manner in which it coordinates activities and transfers resources among business units? • Corporate • Divisional • Functional • Organizational 3. Which is the MOST commonly used measure of corporate performance (in terms of profit)?
Financial Performance Evaluation Introduction Financial Performance evaluation is a very important analysis used for CFO and business managers to identify which aspect of the company are working effectively and which could be improved. The financial performance evaluation is a process that requires the use of different financial ratios to determine results. The most widely financial ratios used when evaluating corporate performance are profitability, asset utilization, liquidity ratios, and capitalization. Profits ratios are the most important and the one of CFO and business manager pay more attention. Profit ratios are used to determine the overall efficiency of the firm in generating returns for its shareholders.
In a world that is more gray than black and white, it is interesting to know that a business can only be either a vertical or horizontal organizational structure. Each company’s structure is determined by several factors that include the number of business units, departments, and substructure staff members. While there are substructures within a company’s organization, there is a basic outline that each one will follow as they navigate through the choices that will ultimately determine which type of structure they become. A vertical structure company will include roles such as a board of directors, a chief executive officer, and hierarchical levels to determine the amount of authority given to each area as needed (Bateman, T. S., & Snell, S. A. 2010).