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Strategic Decision Making for Managers Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. What is the payback period for an investment that costs $250,000 and generates cash flow of $85,000 with annual expenses of $10,000?

Question 2 2. You are a real estate investor, and you're considering buying property A or property B. Property A costs $200,000 and will generate an annual net cash flow of $12,000 per year. Property B costs $220,000 but generates a net annual cash flow of $14,000. You want to recoup your initial investment as quickly as possible. What is the payback period for each property, and which property should you buy?

Question 3 3. Which one of the following is NOT a mathematical term in the payback formula?

Question 4 4. Which of the following is the BEST explanation of payback analysis?

Question 5 5. Which one the following is the correct payback formula?

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Question 6 6. Beth manages purchases at Kwiki Publishing. Overnight, Kwiki's paper vendor has increased the price of glossy paper by 25%! Eric the Sales Manager at Kwiki calls Beth in a panic because the company is going to lose money on all the estimates already given to their clients. Beth calls Michael, her contact at the paper supplier, to describe Kwiki's problem and enforce the terms of the contract with the previously agreed upon prices. Michael would most likely view Beth as a(n)...

Question 7 7. True or false: Managers can be identified as having one of four possible personality styles--Entrepreneur, Disturbance Handler, Resource Allocator, and Negotiator.

Question 8 8. Beth manages purchases at Kwiki Publishing. Overnight, Kwiki's paper vendor increased the price of glossy paper by 25%! Eric the Sales Manager at Kwiki calls Beth in a panic because the company is going to lose money on all the estimates already given to their clients. Beth calls Michael, her contact at the paper company, to describe Kwiki's problem and enforce the terms of the contract with the previously agreed upon prices. Eric would identify Beth's role here as a(n)...

Question 9 9. Pradeep works in Administration at Anytown Community College, where potential students must first send a written request for an application to the office and wait for the office staff to mail back a printed application. After filling out the 13 page form correctly in black ink, students then send the completed application to Predeep at the Administration Office. Waiting impatiently for their enrollment confirmation, 90% begin browsing the exciting online content from Educational Portal. Fearing a drop in enrollment, Pradeep develops an online application process that changes the three-month-long approval process into a nearly instant enrollment step. Pradeep's role in this situation is...

Question 10 10. Pete's boss has just given him three new smartphone apps to design. Pete needs to hire a new developer by Monday to meet the deadline. He decides to change his department's holiday party from a champagne cruise to a pot-luck lunch in the cafeteria, reformat his travel laptop for the new hire to use, and move the coffee maker into the closet so the countertop is available as a work surface. Pete is primarily in the role of...

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Question 11 11. Which of the following is the best explanation of a process?

Question 12 12. How might a processes management theorist describe an organization?

Question 13 13. Which one of the following is NOT one of the essential elements of process management?

Question 14 14. Which one of the following is NOT a part of process management as described in this lesson?

Question 15 15. What's the best explanation of process management?

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Question 16 16. What step involves you setting goals and objectives?

Question 17 17. Which one of the following is not one of the four elements of strategy design?

Question 18 18. What are the two steps in the strategy formulation process that you must always be taking at every stage of the process?

Question 19 19. What's the best explanation of the difference between a goal and an objective?

Question 20 20. What does SWOT stand for?

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Question 21 21. Behavioral aspects are considered in _____.

Question 22 22. The top level of management of a company which produces old-fashioned furniture is not satisfied with its productivity. It has hired a consultant who specializes in systems management theory to take a look at the manufacturing process. A factory worker has described the process as: taking a quality piece of pine or maple and subjecting it to a process where specialised equipment is used to transform it into a table which they then ship to the customer and request a survey response of his satisfaction about the product. Which of the following is the output of the process?

Question 23 23. A manager in an IT company is trying to decide whether to focus on producing very expensive computers or cheap laptops at affordable prices. Before making his decision, he is interested in knowing more about the analysis of data and the past, present and future trends of both the market and his company. Which of the following should he use to make his decision?

Question 24 24. Which of the following is considered only by the quantitative school of management?

Question 25 25. What is classic management theory?

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Question 26 26. Which of the following is NOT true about a decision tree?

Question 27 27. In relation to business, which of the following best describes a decision strategy?

Question 28 28. Which of the following most accurately defines automatic decision making?

Question 29 29. What chart does a decision strategy most resemble?

Question 30 30. Why are companies that use decision strategies more agile?

Strategic Decision Making for Managers Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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