1. Which of the following would not be an accurate depiction of the differences between strategic and tactical planning?
a) Strategic planning is developed mainly by upper-level management and tactical planning is generally developed by lower-level management
b) Facts for strategic planning are generally easier to gather than facts for tactical planning
c) Strategic plans generally contain less detail than tactical plans
d) Strategic plans generally cover a longer period of time than tactical plans
e) Managers who are engaged in the development of strategic plans tend to work in more uncertainty than those managers engaged in the development of tactical plans.
2. The conflict-resolution approach that corresponds with a high level of assertiveness and a low level of cooperativeness, is referred to as
a) Compromising
b) Collaborating
c) Forcing
d) Avoiding
e) Accommodating.
3. JIT (Just-In-Time) inventory control is an approach to inventory control, which stipulates that materials should arrive just, as they are needed, in the production process. Which of the following would generally not be associated with a successful JIT program, for the purpose of inventory control?
a) Well-organized receiving and handling of materials purchased from suppliers
b) Strong management commitment
c) Suppliers located in diverse and distant locations
d) High quality of materials purchased from suppliers
e) Dependable and long-lasting relationships with suppliers and customers.
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4. Which of the following decision-making models emphasizes short-run solution of a problem rather than long-term goal accomplishment?
a) Rational model
b) Satisfying model
c )Incremental model
d) Garbage-can model
e) Decision tree.
5. Ratio analysis helps a manager to compare the performance of the organization with its previous performance or the performance of its competitors. Which of the following is a ratio of creditors’ contribution to that of the owners?
a) Current ratio
b) Debt-equity ratio
c) Return on investment (ROI)
d) Net profit margin
e) Inventory turnover.
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