Question 51) What category of ratios measures a firm’s ability to meet maturing short-term obligations

51) What category of ratios measures a firm’s ability to meet maturing short-term obligations?

A) Leverage

B) Activity

C) Profitability

D) Growth

E) Liquidity

52) According to Roger Schroeder, which of the following is not a basic function of production management?

A) Transportation

B) Inventory

C) Capacity

D) Workforce

E) Quality

53) Which country has the highest average hourly pay for auto workers?

A) Japan

B) Germany

C) Canada

D) France

E) U.S.

54) ________ has been successful in determining R&D budget allocations.

A) Financing as many project proposals as possible

B) Budgeting for R&D about what competitors spend

C) Using the percentage of sales method

D) Deciding how many successful new products are needed

E) All of the above have been used

55) Which of the following ties all business functions together and provides the

basis for all managerial decisions?

A) Marketing

B) Management

C) Workforce

D) Information

E) Technology

56) Which of the following is the first step in developing an IFE Matrix?

A) Identifying the organization’s functions of business

B) Summing the weighted scores for each variable

C) Identifying the organization’s strengths and weaknesses

D) Determining the lead strategist

E) Determining the organization’s structure

57) The IFE Matrix should be ________ in multidivisional firms.

A) all-inclusive

B) constructed only for the major divisions

C) revised monthly

D) constructed for each division

E) developed before the EFE Matrix

58) Which of these strategies is effective when the number of suppliers is small

and the number of competitors is large?

A) Conglomerate diversification

B) Forward integration

C) Backward integration

D) Concentric diversification

E) Horizontal diversification

59) Which strategy seeks to increase market share of present products or services

in present markets through greater marketing efforts?

A) Backward integration

B) Market penetration

C) Forward integration

D) Market development

E) Product development

60) All of the following situations are conducive to market development except

A) when an organization competes in a high-growth industry.

B) when new untapped or unsaturated markets exist.

C) when an organization is very successful at what it does.

D) when an organization’s basic industry is becoming rapidly global in scope.

E) when an organization has excess production capacity.

61) Which strategy should an organization use if it competes in a no-growth or a

slow-growth industry?

A) Backward integration

B) Retrenchment

C) Unrelated diversification

D) Related diversification

E) Divestiture

62) Which of the following is not an example of when an organization should use

an unrelated diversification strategy?

A) When revenues derived from an organization’s current products or services

would increase significantly by adding the new unrelated, products.

B) When the new products have counter-cyclical sales patterns compared to an

organization’s present products.

C) When an organization competes in a highly competitive and/or a no-growth

industry.

D) When an organization’s present channels of distribution can be used to market the new products to current customers.

E) When the organization has a temporary management team.

63) Which chapter of the bankruptcy code applies to municipalities?

A) Chapter 9

B) Chapter 12

C) Chapter 8

D) Chapter 13

E) Chapter 7

64) The Family Farmer Bankruptcy Act of 1986 created

A) Chapter 13.

B) Chapter 9.

C) Chapter 8.

D) Chapter 7.

E) Chapter 12.

65) Under which strategy would you offer products or services to a wide range of

customers at the lowest price available on the market?

A) Low-cost

B) Differentiation

C) Best-value

D) Low-cost focus

E) Best-value focus

66) Under which condition would a differentiation strategy be especially effective?

A) When the industry has many different niches and segments, thereby allowing

a company to pick a competitively attractive niche suited to its own resources.

B) When technological change is fast paced and competition revolves around

rapidly evolving product features.

C) When few, if any, other rivals are attempting to specialize in the same target

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