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Read the pages and make a brief summary of them with your own words, please. Mention important parts. Also, you will put your comments and ideas about the topic. please don't write item by item
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- 21 - Which of the following is not a reason for managers to plan? a) Performing SWOT analysis B) Reducing conflicts and wasteful activities NS) Coordinated efforts D) reduce uncertainty TO) Establishing standards for tools used to audit workManagerial Accounting Contrastedto Financial AccountingManagerial accounting supports the internal planning (future-oriented) decisionsmade by management. Financial accounting has more of a scorekeeping, historicalorientation, although data produced by the financial accounting process form some ofthe foundation on which plans are based. Planning is a key part of the managementLO 1Explain the management planning andcontrol cycle.1. What does it mean to state that there are different costs for different purposes? QWhat DoesIt Mean?A n s w e r o np a g e 4 8 6mar2529X_ch12_458-503.indd 459 26/11/12 2:05 PM460 Part 2 Managerial Accountingprocess; and although there are many descriptions of that process, a generally acceptable definition would include reference to the process of planning, organizing,and controlling an entity’s activities so that the organization can achieve its desiredoutcomes. A general model of the process looks like this:Implement PlansDecision Making Decision…Which statement is NOT true, with respect to 'Corporate Level Managers' (CEO's, VP's etc.) a Translate action-oriented, corporate level direction and intent into concrete objectives and strategies for SBU's. b Demand a high level of Technical Skills C Demand a high level of Human Skills d. Seek structured, pushed data for making decisions
- Creative Homework/Short Project As a marketing student, you know that large firms often organize theiroperations into a number of strategic business units(SBUs). A university might develop a similar structure inwhich different academic schools or departments areseen as separate businesses. Consider how your university or college might divide its total academic unitsinto separate SBUs. What would be the problems withimplementing such a plan? What would be the advantages and disadvantages for students and for faculty?Be prepared to share your analysis of university SBUs toyour classhe strategic management process is a. a set of activities that will assure a temporary advantage and average returns for the firm. b. a decision-making activity concerned with a firm’s internal resources, capabilities, and competencies, independent of the conditions in its external environment. c. a process directed by top-management with input from other stakeholders that seeks to achieve above-average returns for investors through effective use of the organization’s resources. d. the full set of commitments, decisions, and actions required for the firm to achieve above-average returns and strategic competitiveness.Match the correct pairs - A. B. C. D. E. F. Task environment - A. B. C. D. E. F. Complex & Unstable environment - A. B. C. D. E. F. Simple and stable environment - A. B. C. D. E. F. General environment A. High environmental uncertainty B. Linear organizational structure C. Organizational Grouping D. Includes environmental factors that do not directly affect the firm, but may have an indirect influence on the firm's operations E. Includes environmental elements that directly impact the firm's ability to achieve its goals F. Low environmental uncertainty
- 43. Why does strategist do not choose all the feasible alternative actions informulating and implementing a strategy? a. Because a strategist just wanted to apply the strategy that they have been using.b. Because a strategist needs to respect the management culture inimplementing strategy.c. Because there can be an infinite possible actions and ways to implement strategyd. Because a strategist tends to back out with the strategy, he is not used indoing1.The description of how different levels and employees in the organization must perform for the organization to achieve its goals is a:A)business-level strategy.B)business model.C)mission statement.D)balanced scorecard.E)None of the above. 2.Which of the following statements regarding multiple measures or a single measure of performance is not correct?A)The advantage of using branch profits to evaluate branch mangers is that profit is relatively simple to compute and reflects the organization's ultimate goal.B)The use of multiple measures can influence branch managers' decisions by changing the components of the performance measurement system to reflect changes in the firm's strategy.C)If the branch managers are more knowledgeable than the corporate staff about local conditions and what local clients value, a single measure could be preferable.D)If the corporate office has better knowledge of what it requires to operate a profitable branch, using multiple measures provides a way to…1.Which of the following statements is incorrect about risk and risk management? a.Risk can be classified as either an opportunity or a threat. b.A risk management system can only be as good as the people manning it. c.Risk management should be performed by management accountants only. d.The risk management philosophy must be embedded in the company’s structure and culture. 2.Which of the following is not considered as a key to a successful strategic risk management? a.Top management support b.Covering all known risks in the existing risk management activities c.Updating and educating the board and top management d.Leverage existing resources 3.Which of the following is not considered as a limitation of strategic risk management? a.It requires specialized skills and capabilities in strategy and risk management b.It requires working beyond the silos in risk management c.It requires updating and educating the board and top management d. Strategy, risk assessment, and risk management…
- 11. If an IS organization is viewed as a cost center/service provider, its strategic planning process is typically directed inward and focused on determining how to do what it is currently doing but doing it cheaper, faster, and better. a. True b. False 14 The strategic plan of an information system (IS) must identify those technologies, vendors, competencies, people, systems, and projects in which an organization will invest to support the corporate and business unit strategies. a. True b. False 16. The release of a new and more powerful mobile computing device or data-crunching software package can influence the strategic plan of an information system. a. True b. False1. A mission statement is: A. A statement of the company's purpose B. Legally required C. Also called a divisional statement D. A company's viable view of the future 2. A service is: A. A tangible item B. An intangible item C. A good D. All of these 3. Middle managers: A. Are commonly referred to as executives B. Deal with operational issues C. Typically have the title "director" or "manager" D. Deal with strategic and tactical issues88) Which of the following best describes what strategy implementation is from a behavior perspective? a) The Behavior and activities related to the implementation of a new software system. b) Those senior-level leadership behavior and activities that will transform a working plan into a concentrate reality. c) Those senior level activities that determine which compensation plan is used. d) Those activities that determine how elasticity of demand is transformed from a working plan to a business strategy