Managers are responsible for the acquisition, utilization, and allocation of
resources in the organization.
True
False - ANSWER True
Governance involves the management of the relationships between
The firm and the government
The management and the firm's critical constituencies
The management and the firm's shareholders
The firm's shareholders and the firm's stakeholders - ANSWER The
management and the firm's critical constituencies
Which of the following would not be considered a critical constituency for an
organization?
Its creditors
,Its employees
Its customers
Its competitors - ANSWER Its competitors
Past performance of the firm is a critical element of the firm's external
environment.
True
False - ANSWER False
When answering the fundamental questions of organizing, the management
must decide who should contribute and how much to the collective resources of
the firm. This is called
Resource allocation
Resource utilization
Resource acquisition
None of the above - ANSWER Resource acquisition
According to Chester Barnard, "The firm is a system of consciously coordinated
activities based on the principles of ..."
,Cooperation, communication, and purpose
Cooperation, communication, and value creation
Communication, purpose, and opportunity
Strategy, efficiency, and profitability - ANSWER Cooperation,
communication, and purpose
According to the arguments developed in Module 1, a firm or an organization is
a consciously put together bundle of economic, technological, and social
practices.
True
False - ANSWER True
Which of the following is the main purpose of a corporate board of directors?
To provide guidance to management's decisions so they align with stakeholder's
values
To ensure the company is complying with government regulations
To provide oversight and support for management's efforts in creating long-term
value
, To generate ideas and dictate strategy for the long term - ANSWER To
provide oversight and support for management's efforts in creating long-term
value
In the value creation process it is critical to design the organization first before
the management can develop successful strategies.
True
False - ANSWER False
Which of the following is a hybrid design?
Multidivisional design
Functional design
Divisional design
None of the above - ANSWER Multidivisional design
Organization designs emphasizing external flexibility rely more on centralized
decision-making.
True
False - ANSWER False
One major advantage of functional design is the economies of scale.
resources in the organization.
True
False - ANSWER True
Governance involves the management of the relationships between
The firm and the government
The management and the firm's critical constituencies
The management and the firm's shareholders
The firm's shareholders and the firm's stakeholders - ANSWER The
management and the firm's critical constituencies
Which of the following would not be considered a critical constituency for an
organization?
Its creditors
,Its employees
Its customers
Its competitors - ANSWER Its competitors
Past performance of the firm is a critical element of the firm's external
environment.
True
False - ANSWER False
When answering the fundamental questions of organizing, the management
must decide who should contribute and how much to the collective resources of
the firm. This is called
Resource allocation
Resource utilization
Resource acquisition
None of the above - ANSWER Resource acquisition
According to Chester Barnard, "The firm is a system of consciously coordinated
activities based on the principles of ..."
,Cooperation, communication, and purpose
Cooperation, communication, and value creation
Communication, purpose, and opportunity
Strategy, efficiency, and profitability - ANSWER Cooperation,
communication, and purpose
According to the arguments developed in Module 1, a firm or an organization is
a consciously put together bundle of economic, technological, and social
practices.
True
False - ANSWER True
Which of the following is the main purpose of a corporate board of directors?
To provide guidance to management's decisions so they align with stakeholder's
values
To ensure the company is complying with government regulations
To provide oversight and support for management's efforts in creating long-term
value
, To generate ideas and dictate strategy for the long term - ANSWER To
provide oversight and support for management's efforts in creating long-term
value
In the value creation process it is critical to design the organization first before
the management can develop successful strategies.
True
False - ANSWER False
Which of the following is a hybrid design?
Multidivisional design
Functional design
Divisional design
None of the above - ANSWER Multidivisional design
Organization designs emphasizing external flexibility rely more on centralized
decision-making.
True
False - ANSWER False
One major advantage of functional design is the economies of scale.
