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- Which of the following statements is TRUE? Question 19Answer a. The origins of management by exception are generally credited to Frederick W. Taylor. b. The person most responsible for initiating the use of interchangeable parts in manufacturing was Henry Ford. c. The origins of the scientific management movement are generally credited to Henry Ford. d. The person most responsible for initiating the use of interchangeable parts in manufacturing was Walter Shewhart. e. The person most responsible for initiating the use of interchangeable parts in manufacturing was Eli Whitney.Ethical Question: What would you do? As one of the newer district sales managers for a fast-growing technology company, you’ve asked your salespeople to give you three sales forecasts in their territories for the coming year: (a) optimistic, (b) pessimistic, and (c) most likely. After totaling their three different sales forecasts, you realize that the optimistic forecast will increase sales by nearly 20% in your district, the pessimistic forecast by 10%, and the most likely by about 15%. Your national sales manager has asked each district sales manager to give her their most likely sales forecast for the coming year, so she can assign sales quotas. Your thoughts are that it’s probably best to give her the most pessimistic sales forecast because this should help ensure that she assigns your district a quota that you should easily achieve. If you can exceed your assigned district sales quota by a substantial amount, you’ll probably get a large bonus, and you may even be named district…Question 1Porter's 5 Forces framework does not give us all answers and may be criticized in many ways. True False Question 2Which one of the following is not a primary task of strategic managers? A. Establishing strategic objectivesB. Developing the steps to follow in implementing operational level plansC. Defining the business and developing a missionD. Developing a strategy E. Implementing and evaluating the chosen strategy Question 3The fundamental role of strategy is to: A. Determine how the firm will make a profit in its industry environment:B. Determine how the firm will deploy its resources to satisfy its short-term financial goalsC. Determine how the firm will deploy its resources to satisfy its long-term goals, given the conditions in the competitive environmentD. Determine how the firm can organize its own activities and achieve dominance Question 4"Industry attractiveness” in the five forces framework by Porter refers to: A. the appeal of the industry to a particular firm…
- V1 Analyze a selected company, its operations, and its associated industry and evaluate these areas for development of a business plan for growth to increase revenues by 10% over the next five years with ethical financial practices. 1. Recommend three or more well-defined improvements to corporate governance over the internal controls supported with examples of how the recommendations would impact the company's financial statements. The recommendations could be for improvement of sales, justification of opening different markets, or enhancement of current operations.XYZ Company, a mid-sized manufacturing firm, is facing increased competition in its industry. The company produces electronic components and devices. Leadership has recognized the need to revisit and refine its strategic plan to maintain competitiveness and ensure sustainable growth. Question- XYZ Company has decided to implement a new strategic plan. Outline the key steps the company should take to ensure successful implementation.week 3From the scenarios, Erica and Chris have determined their weaknesses after performing a SWOT analysis. However, they have yet to identify opportunities for their business. Determine two potential opportunities specific to their restaurant’s business environment, and discuss how the partners can take advantage of these opportunities.Discuss a situation where you were influenced by an infomercial, attractive packaging, and a discount flyer to purchase a product, and explain why you think the promotional method made such an impact on you.week 4* From the scenarios, we see that Chris and Erica have different communication styles that could potentially have a negative impact on the business. Suggest at least two strategies that these partners can use to improve on these weaknesses, and explain why you believe these strategies would be effective for running the business.From the e-Activity, briefly describe your results from the communication skills quiz. Describe the…
- Question 1 Strategy is an action that managers take to attain one or more of the organization’s goals. Strategy can also be defined as a general direction set for the company and its various components to achieve a desired state in the future. Strategy results from the detailed strategic planning process. A strategy is all about integrating organizational activities and utilizing and allocating the scarce resources within the organizational environment so as to meet the present objectives. Discuss the requirements to do a strategy from external and internal analyses perspectives in the case of ONE (1) logistics company after the end of COVID-19 pandemic.Question 1 (i) What are the 5 components of the COSO framework? A. Risk assessment, control environment, control activities, information and communication, monitoringB. Control environment, risk assessment, control activities, information and communication, monitoring.C. Control activities, monitoring, information and communication, control environment monitoringD. Control activities, control environment, risk assessment, monitoring, information and communication (ii) An opinion which is given by the auditor when the financial statements give a true and fair view except for a particular matter, which the auditor explains is called:A. An adverse opinionB. An unmodified opinionC. A qualified opinionD. A disclaimer opinion (iii) Which of the following is NOT a reason why linking reward to performance may not solve remuneration problems?A. Unsuitable measures of performance may be selected B. Many performance measures are based on the short term resultsC. Remuneration systems are normally…Which manager does the most 'leading'? a) 1st tier b) VP c) CEO d) GM The soda machine broke in this fast food restaurant. This 1st tier manager opens it up, identifies the problem and fixes the machine. This is an example of what skill? a) human b) technical c) conceptual Flag question: Question 3 A manager working in the back office overhears employees discussing their disapproval of next week's schedule. He gets up and goes over to address their concerns. This is an example of what skill? a) technical b) human c) conceptual Flag question: Question 4 This mid-level manager is new to the company. He recently completed his MBA and is ready to bring new insights into the lagging production the company is experiencing. This is an example of what skill? a) technical b) human c) conceptual Flag question: Question 5 As a 1st tier manager you that there is a bottleneck in a particular area. You move one…
- 8. Which of the following provides direction to the company by answering the question about what business a company is in? Question 8 options: Code of ethics Environmental analysis Competitive analysis Mission statementQuestion 3 Read the following case-based extract regarding Amazon and answer the questions that follow. Amazon Ever since Amazon went online in 1995, the e-commerce juggernaut has undergone a slew of changes – despite being led by the same man, Jeff Bezos, during the ensuing two-plus decades. When the Seattle-based company first launched its website, all it sold was books. Gradually, Bezos and his team expanded Amazon’s offerings to include things like CDs and DVDs. But Amazon never really stopped changing the inventory it sold. 18; 19; 20 2020 © The Independent Institute of Education (Pty) Ltd 2020 Page 7 of 8 Bezos said he wanted his store to become the world’s largest, so he worked hard toward meeting that goal – whether that meant offering new products, launching Amazon Prime, launching Amazon Instant Video ... the list goes on and on. Today, Amazon sells more than 200 million products to customers all over the world. Though for years, Amazon’s detractors insisted that the company…Question 3 Read the following case-based extract regarding Amazon and answer the questions that follow. Amazon Ever since Amazon went online in 1995, the e-commerce juggernaut has undergone a slew of changes – despite being led by the same man, Jeff Bezos, during the ensuing two-plus decades. When the Seattle-based company first launched its website, all it sold was books. Gradually, Bezos and his team expanded Amazon’s offerings to include things like CDs and DVDs. But Amazon never really stopped changing the inventory it sold. 18; 19; 20 2020 © The Independent Institute of Education (Pty) Ltd 2020 Page 7 of 8 Bezos said he wanted his store to become the world’s largest, so he worked hard toward meeting that goal – whether that meant offering new products, launching Amazon Prime, launching Amazon Instant Video ... the list goes on and on. Today, Amazon sells more than 200 million products to customers all over the world. Though for years, Amazon’s detractors insisted that the company…
