Busi 310 Test Exam 2 correct answers

Which of the flowing is does NOT describe a well written policy? Complete, Objective, Subjective, or Coherent

Subjective

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Bring in outside assessors, evaluating the team, performing risk analysis and implementing an early warning system are all steps that a _____ manager would need to take. Operations, Project, Human resources, or Inventory

Project

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Strategic plans that are made at mid-level of an organization are Operation plans, Tactical plans, Contingency plans, or Scenario Plans

Tactical plans

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In a highly centralized organization... Power is distributed throughout middle and lower managerial levels, Lower level management has the ability to make decisions, Decisions involving the utilization of all resources are made at the upper managerial levels, or Both A and B

Decisions involving the utilization of all resources are made at the upper managerial levels

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Concentration, vertical integration, conglomerate diversification, and concentric diversification are all types of... Benchmarking, Contingency planning, Operational planning, or Strategy formulation

Strategy formulation

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Internal controls... Can be classified as preventative or detective, Arelargely out of an organization's control, are used to identify an error or irregularity, or Both A and C

Both A and C

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Which of the following is NOT one of the five lessons managers should apply to better understand and control risk? Create a culture that insists on facing uncertainty, Think in probabilities, Build scenarios, or Use the power of markets

Create a culture that insists on facing uncertainty

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Which of the following is involved in inventory management? Forecasting and replenishment activities, Transformation of a company's inputs into outputs, Planning and guiding a project from beginning to end, or Ensure the ordering of the correct amount and kind of materials

Forecasting and replenishment activities

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The process by which an organization compares its performance against not only its competitors but also other high performing organizations is referred to as... Vertical Integration, Benchmarking, Operational Planning, or Contingency planning

Benchmarking

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A central organization that works together with assorted independent companies as if they were a single operation is a... Team Structure, Boundaryless organization, Network Structure, and Matrix structure

Network structure

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Which of the following is NOT a step in the basic planning process? Establishing overarching goal, Development of strategic goals, Implementation and monitoring of the plan, or incorporating only known variables into the plan

Incorporating only known variables into the plan

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The first three stages of the formal planning process are

Situational analysis, generation of alternative goals and plans, evaluation of goals and plans

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When an organization organizes employees by comparable duties, the organization is said to have a... Divisional Structure, Matrix Structure, Functional Structure, or None of the Above

Functional structure

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