Flexible production technology

Question 1

 

Flexible production technology is sometimes referred to as:

 

(a)    Just-in-time manufacturing

 

(b)   Quick technology

 

(c)    Lean production

 

(d)   Stable production

 

(e)   Unscheduled manufacturing

 

Question 2

 

Learning effects are a result of:

 

(a)    Automation

 

(b)   Learning by doing

 

(c)    Sound product planning tactics

 

(d)   Diseconomies of scale

 

(e)   Product standardization

 

 

 

Question 3

 

Effective vision statements include:

 

(a)    All strategic directions of the organizations

 

(b)   A brief statement of the company’s direction

 

(c)    Strategic posturing and future objectives

 

(d)   Financial objectives and projected figures

 

 

 

Question 4

 

Sam Walton wanted Walmart to keep costs low. There’ force, as an example to others, he drove his own car and furnished his office with plain, steel desks. In this case, Mr. Walton was displaying his:

 

 

 

(a)    Commitment.

 

(b)   Vision

 

(c)    Astute use of power

 

(d)   Emotional intelligence

 

(e)   Eloquence

 

 

 

Question 5

 

 

 

In contrast to an organization’s vision, its mission should:

 

(a)    Be shorter in length.

 

(b)   Encompass both the purpose of the company as well as the basis of competition

 

(c)    Encompass all the major rules and regulations of the corporate work force

 

(d)   Be less details

 

 

 

 

 

Question 6

 

 

 

The resources and capabilities that lead to the formation of distinctive competencies are mostly created at which level of the organization?

 

 

 

(a)    Business

 

(b)   Functional

 

(c)    Corporate

 

(d)   Global

 

(e)   Industry

 

 

 

Question 7

 

 

 

Cost reduction pressures can be particularly intense in industries producing:

 

(a)    Commodity-type products

 

(b)   Highly differentiated products

 

(c)    Goods that do not complete on the basis of price

 

(d)   Goods servicing narrowly defined markets.

 

(e)   Highly advertised goods

 

 

 

Question 8

 

The core organizational processes as identified by Christopher Bartlett and Sumantra Sumantra Ghoshal are entrepreneurial processes, competence building processes, and:

 

 

 

(a)    Coordinating processes

 

(b)   Control processes

 

(c)    Revival processes

 

(d)   Renewal processes

 

Question 9

 

Which one of the following activities is most likely to be a leadership activity?

 

(a)    Coping with organizational complexity

 

(b)   Formulation strategy

 

(c)    Problem solving to ensure strategy is implemented

 

(d)   Planning and budgeting

 

 

 

 

 

 

 

 

 

 

 

Question 10

 

Which of the following cognitive biases occurs when decision makers commit even more resources if they receive feedback that the project is falling?

 

 

 

(a)    Prior hypothesis bias

 

(b)   Reasoning by analogy

 

(c)    Illusion of control

 

(d)   Escalation commitment

 

(e)   Representativeness

 

Question 11

 

Which of the following is used to directly measure the average standard of living across countries?

 

(a)    Real GPD

 

(b)   Nominal GDP

 

(c)    Purchasing power parity

 

(d)   GDP per person

 

 

 

Question 12

 

What is the proper sequence of the phase of a business cycle?

 

(a)    Peak, contraction, trough, expansion, recovery.

 

(b)   Peak, contraction, recovery, trough, expansion

 

(c)    Peak, contraction, trough, recovery, expansion

 

(d)   Contraction, peak , trough, recovery, expansion

 

(e)     Recovery, trough, peak, expansion, contraction

 

 

 

Question 13

 

In the United States, by far the largest expenditure component in GDP ( Gross Domestic Product) is___________.

 

(a)    Gross private domestic investment

 

(b)   Government purchases of good s and services

 

(c)    Consumption expenditures

 

(d)   Net exports

 

(e)   None of the above

 

 

 

 

 

 

 

 

 

 

 

Question 14

 

Unemployment insurance:

 

(a)    Raises unemployment and educes search effort

 

(b)   Lowers unemployment and reduces search effort

 

(c)    Increases search effort and raises unemployment

 

(d)   Increases search effort and decrease unemployment

 

 

 

Question 15

 

 

 

At college X, students pay less than the equilibrium tuition. At college Y, students also pay less than the equilibrium tuition. If the supply is the same at each college, it follows that the shortage will be greater at ________.

 

 

 

(a)     College X than college Y

 

(b)   College X than the surplus at college Y

 

(c)    College Y than the surplus at college X

 

(d)   College X than college Y if the demand is greater at college X

 

(e)   There is not enough information to answer this question.