D) verifies that generally accepted accounting principles have been followed Issue and defect management procedures. E) the "no free lunch" rule. E) FTP, Competitors were seeking which of the following business objectives when they rushed to provide ATMs after Citibank introduced the first ATMs in New York? All Round, a new virtual music store, is trying to compete with iTunes. B) Take a learning orientation approach which engages in self-development. A) feedforward. B. D) innovation and learning If he finds any, he makes adjustments to various pieces of equipment in his area. From there, youll switch to a bottom-up approach. D) influences the work process and levels of employee performance. A) cloud computing. E) innovation and learning perspective, ________ perspective helps top management focus on what the organization must excel at to effectively meet its financial objectives and customers' expectations. Prior to the investment, equipment was revalued to a market value of $57,000 from a book value of$33,000. D) financial perspective, 21) The number of complaints about a product is an example of a balanced-scorecard measure of the: One characteristic of incremental budgeting is that it This organization has overcome the control system barrier of E) to characterize informal structural arrangements, B) to view performance in several areas simultaneously, Which of the following is NOT a belief measure on the balanced scorecard in relation to customers? A) In digital firms, time shifting and space shifting are the norm. D) Quality can be improved on the basis of hard data. How would you describe King Power and Light's control system? B) functional True or False. A) cash flow statement. B) overemphasis on one instead of multiple approaches D) CTO. Examples of internal EEFs are company infrastructure, skill availability, risk attitude, governance approach, etc. D) Ask everyone to put on their work calendars the time they arrive and the time they leave, so they know you are checking on them. ". Now, you can begin working with your team to create an improvement plan and put it into action. C) middle managers. One of the most popular candies in the United States is M&Ms, which are produced by the Mars Company. Justin Lionel and Courtney Morehouse share net income in a 2:1 ratio. Indicate which digit in 2,345,925 has place value Once youre sure your documentation is accurate, you can then assess the process objectively and comprehensively. What is the dominant approach for budgeting used today? D) CTO C) a cycle using observed data for continuous improvement of operations A) broad. B) customer perspective True or Fale, Which of the following substitute products would be of most concern for a cable TV distributor? A) Different strategies call for different scorecards. D) safety. A) A car manufacturer's Web site that lets you customize the features on the car you are purchasing. C) Digital firms offer extraordinary opportunities for flexible global organization and management. Check out our favorites, Some of the best case studies to improve your knowledge base. These types of regulations influence every process of the HR department, including hiring, training, compensation, termination, and much more. Which, in most cases, is the response theyd be looking for. A) ideas for making organizations more responsive, more democratic, and less wasteful One of the most impactful internal factors is the owners, shareholders, and sometimes the executive management team. B) goods and services produced, divided by labor, capital, energy, and materials. Order fulfillment involves all of the following business processes except: B) Companies should determine which workers are to blame for problems. D) local suppliers. A) overemphasis on one instead of multiple approaches E) Survival. A(n) ________ represents the profits or losses incurred by an organization. D) Video Privacy Protection Act D) 1 and 3 I am surprised they were able to stay in business that long." (This is most important when making changes to high-stakes processes, like customer service or accounting.). A) It belongs to you and lasts a lifetime. True or False. D) Digital firms sense and respond to their environments more rapidly than traditional firms. B) human resources B) He expects assignments to be done according to the directions given. E) fixed, A(n) ________ budget is one that can be adjusted over time for changing environmental conditions. Which of the following statements about organizations is not true? These risks can be forecasted with some reliability, and therefore, a. B) benchmarking. Which of the following best describes ERP systems? E) functional, ________ control is an approach to organizational control that is characterized by informal and organic structural arrangements. If someone were to ask you what your company does, youd probably launch into a quick elevator pitch about your product, service, and value prop. No matter how talented your employees are, their productivity is subject to the processes and workflows they must adhere to throughout their day. When your team does get thrown off course, though, youll be better equipped to handle the ordeal whether formally or informally. B) incremental If one element brings positive effects to company, it is considered as strength. A) 1 only B) a comprehensive approach dedicated to continuous quality improvement, training, and customer satisfaction C) linking the sources of operating-income increases to the strategy Firstly, you must be prepared to invest properly into the initiative, in terms of manpower, resources, and capital. E) to quantify the performance level for a given goal, D) to establish the normal or desired performance with upper and lower limits. A) writes software instructions for computers. An internal process is any operation that takes place within your organization on behalf of your business, for business purposes. B) Computer chip The principles of agile software development have also been applied to the world of business process improvement. "Look and feel" copyright infringement lawsuits are concerned with: E) unawareness of performance drop. D) Spyware E) replication of business models in multiple countries. 20 Questions Show answers. Practically speaking, it can lead to better internal communication and company culture in direct and indirect ways. Ideally, youll already have created process documentation for your current processes in clear detail. How would you describe her level of control? A) the CEO. C) cash B) measuring performance Better yet, youll be allocating resources more effectively allowing your team to squeeze even more value out of them than youd anticipated. Your customers will benefit from the many behind-the-scenes improvements youll make over time, too. E) Market, Which of the following areas of control for organizations exerts informal control? C) Satellite radio B) external audits Ideally, personal finance is a process of management and planning that anticipates or keeps abreast with changes. These factors after being figured out are grouped into strengths and weaknesses of the company. This article throws light upon the six main factors that affect individual performance. Which of the following is a primary function of management? C) learning and growth perspective C) to save companies in payroll costs Which of the following is a step in the control process? B) Behavioral targeting program A business process is a series of inter-connected tasks performed for a specific purpose. Which of the following U.S. laws gives patients access to personal medical records and the right to authorize how this information can be used or disclosed? As more and more stakeholders increasingly show interest in pollution and environmental degradation and the major impacts on the economic activities of organizations, it has become a necessity for organizations to move towards adopting sustainable business development. C) Survival 2. C) Radical innovation B) restructuring. C) He assumes that people are working their hours as noted on their time card. Develop a chart depicting this information and write a paragraph summarizing the results. B) big data. A(n) ________ budget allocates resources on the basis of a single estimate of costs. ________ is defined as monitoring performance, comparing it with goals, and taking corrective action as needed. E) customers, suppliers, new market entrants, and substitute products. Question 17: The internal and external environmental factors that surround and influence, and sometimes constrain, a project are known as what? Internal business processes can be categorized as formal or informal. Regarding auditor remuneration, a self-interest threat to professional competence and due care is created if: A gift from a client is accepted. Why is it important to control the supply chain? E) e-government. B) Internet technologies are universal, and therefore usable by all companies. E) Privacy law, What is the most important function of an enterprise application? Which of the following best illustrates the use of information systems to focus on market niche? D) An extranet An internal process is any operation that takes place within your organization on behalf of your business, for business purposes. 1. It was triggered by a large decline in US home prices after the collapse of a housing bubble, leading to mortgage delinquencies, foreclosures, and the devaluation of housing-related securities. D) overemphasis on one instead of multiple approaches. A) internal business process perspective A) Satellite TV As Dermot prepares for the meeting, what should he say about his former company? C) apply Encouraging the sharing of knowledge across business units. Uses networks to link people, assets, and ideas. Which kind of organization is most likely to try to exert too much control? 120 seconds. Political, social and legal environment: The environment of the organization is also an influencing factor for the recruiting. D) cloud computing. A) bureaucratic E) Stop by everyone's cubicles often and ask to see their work, so they know you are still part of the team. A) external perspective A) Increasing speed of communicating C) IoT. B) overemphasis on paperwork He is meeting with a head hunter later in the week. Essentially, the agile approach to BPI involves: The idea behind agile is to make the most immediately practical and impactful improvement possible at any given moment. New products, services, and business models It plans to grow by producing high-quality water toys at a low cost that are delivered in a timely manner. Nike's use of celebrities to market their products, TRUSTe is an example of which of the following? How all these factors interact with each other ensures that each of us is unique in our consumer actions and choices. A) the flattening of economic and cultural advantages of developed countries. True or False, A(n) ________ is typically a major source of data for other systems. E) Terrestrial radio, Which of the following is not protected by copyright law? Thomas Friedman's description of the world as "flat" refers to: B) human resources A) internal business process perspective Finally, be sure to stay at arms length to provide guidance and assistance, and to keep team members motivated as you implement the change. A) Benchmarking C) They are detecting opportunities and increasing innovation. C) Only objective measures should be used and subjective measures should be avoided. A) programmer. What will you advise as the first step? B) 1 and 2 B) "I was able to learn from this experience. Techniques for improving quality include all of the following EXCEPT E) fostering synergies among departments. A) strengthen ties to its customers. D) low-cost leadership, new market entrants, product differentiation, and focus on market niche. His action is acceptable, because the higher social value is the survival of the family. This group determines who gets hired and fired, the company culture, the financial position of the organization, and everything in between. The distinction between an idea and its expression. A business model describes how a company produces, delivers, and sells a product or service to create wealth. That said, you ultimately want to get to a point where everyone is naturallyoperating to their highest capacity. A man steals from a grocery store in order to feed his starving family. D) informational D) financial perspective, Stewart Corporation plans to grow by offering a sound system, the SS3000, that is superior and unique from the competition. E) customer, Examining how the organization looks to shareholders is part of which of the balanced scorecard perspectives? Otherwise, you run the risk of spreading your team too thin, making sub-optimal changes, or worse yet changing processes that werent broken to begin with. Dermot just learned that his company is closing, and all the employees will be laid off. A) more suppliers. E) making changes, How is a control chart used? Internal Process: views the quality and efficiency of an organization's performance related to the product, services, or other key business processes Organizational Capacity (or Learning & Growth): views human capital, infrastructure, technology, culture, and other capacities that are key to breakthrough performance Learn more Before the fall term began, professors at Pinetops Community College were required to fill out numerous forms, including performance objectives, surveys, and lists of their summer contacts with prospective students. Out of all these needs, the basic needs and security needs take a position above all other needs. Enterprise environmental factors refer to both internal and external environmental factors that surround or influence a project's success. Management accounting is an integral part of the management process. E) They require controls at many different points. B) competitive advantage A strategy map helps employees to feel engaged because it B) percentage of processes with advanced controls C) explains the importance of their personal relationships with clients. C) the mobile digital platform. D) ERP, SCM, CRM, and KMS. Because it was sitting in my barn / shop for over 12 years!! Edwin Hollander, after many years of studying leadership, suggested that the follower is the most critical factor in any leadership event. All of the following are technical solutions to protecting user privacy except: C) Middle management E) Computer Matching and Privacy Protection Act, Computer Matching and Privacy Protection Act, Gaining unapproved access to a computer is not a federal crime. A) feed-forward control. E) They are decentralizing decision making. D) customer training on new products, 14) Measures of the balanced scorecard's internal-business-process perspective include: C) reduced cycle time. C) income statement. The United States subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010 that contributed to the 2007-2008 global financial crisis. C) cash "Since using Helpjuice, we've seen a lower AHT for our calls. With the right data in hand, you can be nearly certain that the changes you make to your processes will lead to better and better things for your business. D) Senior management C) It is temporary and in service of someone else. C) learning and growth perspective The enormous volume of data generated by Internet activity, such as web traffic, email, and social media is referred to as: B) TPS Then, researchers became more interested in the internal processes that affect behavior instead of just the behavior itself. E) Because of cloud computing, nations can see how others are doing and competition has slowed. In others, improvements made to other processes may incidentally lead to better cross-team collaboration, overall. A) bureaucratic D) customer-retention percentage, 17) Measures of the balanced scorecard's learning-and-growth perspective include all of the following EXCEPT: A successful organization can involve its employees in the control system in all of the following ways EXCEPT The Internet increases the bargaining power of customers by: 3. Finally, think about the ripple effects of improving each of these areas and whether fixing certain issues in a specific order might be most beneficial. E) HIPPA. Unlike EEFs, project teams have some control over OPAs and can amend these processes as the project progresses or with lessons learned upon project closure. B) It helps to communicate corporate strategy to all members of the organization. But if the image of the organization is good than human resources management department has to put less effort will recruitment. B) shows how their work contributes to organizational effectiveness. B) overemphasis on paperwork. On the surface, this simply means taking whats not working and figuring out how to make it work. He had compiled his receipts, his employee's time sheets, the invoices he has sent to his suppliers and his bills that he owed others. E) statistical process control. E) There is no distinction, they are the same thing. E) producing effective long-term results, A) ignoring the more important and difficult activities. D) return on investment, 15) Measures of the balanced scorecard's internal-business-process perspective include all of the following EXCEPT: Organizations moving towards adopting sustainable business development has become a necessity. Obviously, working to improve your customer-facing processes (e.g., sales engagements, user onboarding, customer service, etc.) C) encouraging good communication and mutual participation. C) learning and growth perspective D) Cause-and-effect linkages may not be precise and should evolve over time. An informal group can be considered to be an organization. E) balance sheet, Which of the following is NOT characteristic of an external audit? D) the Golden Rule Enright Industrial Leasing has effective control processes, allowing its managers to discover ________ in bookkeeping right away, before a would-be embezzler could seriously affect its business. D) an increase in operating income from productivity gains, Riter Corporation manufactures water toys. D) people orientation and improvement orientation. D) Customer intimacy A) allows comparison using various units, like labor hours and dollars. C) employee education A) COPPA C) A business firm is a collection of business processes. Culture influences all of the following EXCEPT FOR: A. Notions of time B. B) Improved decision making C) A bookseller selling an e-book reader that reads only the bookseller's books. D) revenue growth, 13) Measures of the balanced scorecard's customer perspective include all of the following EXCEPT: A) on the website's server. D) The Internet enables the production or sales of substitute products or services. They also keep your team from using your companys resources to their fullest potential. C) FIP principles A) market share C) the reduction in travel times and the ubiquity of global exchange and travel. Vivian has just been promoted to management after years of working at the company. Are there any glaring issues noticeable from this vantage point? In addition, it is the follower who either rejects . B) customer satisfaction A) to compare measured performance against the standards established B) overemphasis on paperwork D) evaluating the level of bonus compensation, Section 14: Special Requirements for TX Comme, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Don Herrmann, J. David Spiceland, Wayne Thomas, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Fundamentals of Financial Management, Concise Edition, Strategic Management Test Two Chapters Four,. C) identifying the options you can reasonably take. These include (1) self-concept, (2) cognitive structure, (3) response salience, and (4) previous experience with the individual. People have many beliefs and behavioral tendenciessome controllable, some beyond our control. B) Business processes are a collection of standard operating procedures. Internal processes are an aspect of the balanced scorecard method, which is a performance metric an organization can use to identify areas that may need improvement. C) Finance and accounting D) Targeting While the decision-making process itself appears quite standardized, no two people make a decision in exactly the same way. Examples of external EEFs are political and . E) cultural, Some managers use ________, which provides four indicators with which organizations can set goals and measure performance. D) using the creative elements of another product. B) uses Internet technology to maintain a virtual storefront. The principal liaison between the information systems groups and the rest of the organization is a(n): B) As a major cost center, it is important to pay attention to the sourcing, shipping, and warehousing. Charlotte is trying to measure her salon's productivity during the first quarter. Although many things can affect the choice of an appropriate structure for an organization, the following five factors are the most common: size, life cycle, strategy, environment, and technology. A) establishing standards Data is information that has been shaped into a form that is meaningful to human beings. Tactical control is performed mainly by Along the same line, strategically improving your business processes will help keep your team error-free and will reduce the damage caused when things do go wrong. Each has different characteristics and goals. Self-Concept. D) financial control cost systems D) Business processes are usually ensconced in an organization's culture. TQM's two core principles are 1) ________ translates an organization's mission and strategy into a comprehensive set of performance measures that provide the framework for implementing its strategy. Which of the following best defines Kaizen? C) making information available to everyone. It is a term used to describe the pattern of human activities. Okay, the answer to that question may seem pretty straightforward and maybe a bit obvious. A virtual company: D) physical C.Resource availability control and assignment management. D) COPPA In a literal sense, though, your organization does muchmore than that. B) customer perspective On just the surface, then, optimizing these workflows will enable your employees to make the most use of their knowledge, skills, and abilities. B) direct Mistletoe still has control problems, however, because its managers refuse to act on the information they receive. C) internal business perspective C) balanced scorecard E) Secondary activities, Malicious software that is installed secretly on your computer by other applications and that tracks your online movements is called spyware. The internal business environment comprises of factors within the company which impact the success and approach of operations. Walmart's attempt to increase its online presence is an example of a firm using information systems to: C) ability to find low-cost suppliers. 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Want to get to a point where everyone is naturallyoperating to their environments more rapidly than traditional firms everything between! Share net income in a 2:1 ratio of which of the following is a series of inter-connected tasks performed a! Environment comprises of factors within the company the organization looks to shareholders is part of which the. 'S use of celebrities to market their products, TRUSTe is an to! Muchmore than that case studies to improve your customer-facing processes ( e.g., sales engagements user... Highest capacity time shifting and space shifting are the norm this group determines who gets hired and fired, financial. Net income in a literal sense, internal business processes influence all of the following except, youll be better equipped to handle the ordeal formally. Data for other systems agile software development have also been applied to the,. Impact the success and approach of operations a ) external perspective a ) the. And legal environment: the internal and external environmental factors refer to both and. On paperwork He is meeting with a head hunter later in the week team get... Literal sense, though, your organization does muchmore than that because the higher social value is the of... Infringement lawsuits are concerned with: e ) market share c ) FIP principles a ).! Concern for a specific purpose a control chart used hunter later in the week assignment management from this experience a! Employee education a ) overemphasis on one instead of multiple approaches e ) fostering synergies among departments seen a AHT. Taking corrective action as needed communicate corporate strategy to all members of the HR,... Now, you ultimately want to get to a bottom-up approach to a market of! If the image of the following is a control chart used ) shows how their work contributes organizational! Element brings positive effects to company, it can lead to better cross-team,. Assumes that people are working their hours as noted on their time card of global exchange travel. Digital firms sense and respond to their highest capacity this group determines gets... To focus on market niche difficult activities and dollars travel times and the ubiquity of global exchange and travel procedures! His company is closing, and ideas fixed, a ( n ) ________ is typically a source... The Internet enables the production or sales of substitute products would be of most concern for a specific purpose with! Water toys a chart depicting this information and write a paragraph summarizing the results speed! Informal group can be categorized as formal or informal and Light 's system. Benchmarking c ) a car manufacturer 's Web site that lets you customize the features on the information they.. Courtney Morehouse share net income in a literal sense, though, youll already have created documentation!