Strategic Management - Study Mode

[#261] One of the top level manager of a large manufacturing plant uses to spend her day trying to ensure that the material waste is not more than 10% , she spends her day performing the management process of:
Correct Answer

(D) Controlling

Explanation

Solution: One of the top level manager of a large manufacturing plant uses to spend her day trying to ensure that the material waste is not more than 10% , she spends her day performing the management process of controlling. Control is a primary goal-oriented function of management in an organisation. It is a process of comparing the actual performance with the set standards of the company to ensure that activities are performed according to the plans and if not then taking corrective action.

[#262] All of the following are key opportunities and threats in external environment because of political, government and legal forces except:
Correct Answer

(B) Social security program

Explanation

Solution: All of the following are key opportunities and threats in external environment because of political, government and legal forces except Social security program. The Social Security program in the United States provides protection against the loss of earnings due to retirement, death, or disability.

[#263] Internal audit is done:
Correct Answer

(C) Parallel to external audit

Explanation

Solution: Internal audit is done Parallel to external audit. An external audit is an examination that is conducted by an independent accountant. This type of audit is most commonly intended to result in a certification of the financial statements of an entity.

[#264] Bargaining power of customers is high if:
Correct Answer

(A) Differentiation of competitors product is low

Explanation

Solution: Bargaining power of customers is high if Differentiation of competitors product is low. The Bargaining Power of Buyers, one of the forces in Porter's Five Forces Industry Analysis Framework, refers to the pressure that customers/consumers can put on businesses to get them to provide higher quality products, better customer service, and/or lower prices.

[#265] The magnitude and changes that may affect an organization is survival owing to all of the following except:
Correct Answer

(D) Dubious firms

Explanation

Solution: The magnitude and changes that may affect an organization is survival owing to all of the following except Dubious firms.