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Strategy quiz on business fundamentals flashcard

Question 6 A common sized income statement restates all numbers in the income statement as a percentage of what? Answer [pic] |[pic]| | Cost of goods sold | |[pic]| | Net income | |[pic]| | Net sales | |[pic]| | Gross income | Question 7 Compared to a business with a negative net working capital, one with a positive net working capital will likely have a __________. Answer [pic] [pic]| | lower risk of insolvency and lower return | |[pic]| | lower risk of insolvency and higher return | |[pic]| | higher risk of insolvency and higher return | |[pic]| | higher risk of insolvency and lower return | Question 8 An importer that pays with foreign currency is mostly concerned with Answer [pic] |[pic]| | an appreciation of the foreign currency. | |[pic]| | a depreciation of the foreign currency. | |[pic]| | any change in the exchange rate of the foreign currency to the local one. |[pic]| | the exchange rate of the foreign currency to the local one remaining stable. | Question 9 Which of the following statement regarding stakeholder management is correct? Answer [pic] |[pic]| | Managers will give equal attention to all stakeholders | |[pic]| | Market stakeholders are always more influential than non-market stakeholders in managerial decisions. | |[pic]| | The smaller the stakeholder’s salience, the greater the likelihood that the issues will be prioritised by the managers. |[pic]| | Formation of coalitions among stakeholders will increase their salience when interacting with the firms. | | | | | | | | | | | | | | | | | | | | |

Question 10 Which of the following statement regarding stakeholder and stockholder is correct? Answer [pic] |[pic]| | A stakeholder is always more influential than a stockholder. | |[pic]| | A stakeholder is also a stockholder, but a stockholder need not be a stakeholder | |[pic]| | A stockholder is also a stakeholder, but a stakeholder need not be a stockholder. | |[pic]| | A stakeholder cannot be a stockholder as there will be a conflict of interest. | Question 11

An organisation that assigns specialists from different functional departments to work on one or more projects is known as a __________ organisation. Answer [pic] |[pic]| | virtual | |[pic]| | network | |[pic]| | boundaryless | |[pic]| | matrix | Question 12 The line of authority extending from upper organisational levels to the lowest levels, and clarifies who reports to whom is known as _______________. Answer [pic] |[pic]| | span of control | [pic]| | unity of command | |[pic]| | chain of command | |[pic]| | authority | Question 13 Mr Ang, director of training for a large hospital, has developed a new “ tender, loving care” nurse training programme. He plans to measure patient satisfaction in ten wards, and then put nurses from half of the wards through the new programme. Four months later, he will measure patient satisfaction again. What training evaluation method is Mr Ang using? Answer [pic] [pic]| | Test-retest method | |[pic]| | Post training performance method | |[pic]| | Pre-post training performance method | |[pic]| | Pre-post training performance with control group method | | | | | | | | | | | | | | | | | | | | | Question 14 A company’s wellness program is aimed to _______________. Answer [pic] |[pic]| | keep employees healthy |[pic]| | help employees deal with their personal problems | |[pic]| | counsel underperforming employees | |[pic]| | provide an avenue for employees to give feedback and suggestions to the management | Question 15 Which of these is NOT a strategic impact of Operations Management? Answer [pic] |[pic]| | Drives business strategy | |[pic]| | Defines business strategy | |[pic]| | Implements business strategy | |[pic]| | Supports business strategy | Question 16 Which of the following is NOT a primary concern of supply chain management? Answer [pic] |[pic]| | Who to acquire from? | |[pic]| | Who to sell to? | |[pic]| | Where to locate warehouse? | |[pic]| | What are the transport routes? | Question 17

Which phase of the Product Design & Development phases is UNLIKELY to involve the customers? I    Idea Generation II   Prototyping & Testing III  Production Answer [pic] |[pic]| | I only | |[pic]| | II only | |[pic]| | III only | |[pic]| | None of the listed choices | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Question 18

Which period in the product life-cycle emphasises the need to achieve optimum capacity? Answer [pic] |[pic]| | Introduction | |[pic]| | Growth | |[pic]| | Maturity | |[pic]| | Decline | Question 19 _________ is creating a distinct place in the minds of the consumers, about the product or service. Answer [pic] |[pic]| | Promotion | |[pic]| | Targeting | |[pic]| | Positioning | |[pic]| | Segmentation | Question 20 Which of the following is a customer-oriented approach to pricing? Answer [pic] |[pic]| | Value-based pricing | |[pic]| | Cost-based pricing | |[pic]| | Demand-based pricing | |[pic]| | Break-even pricing | 95/100

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