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The goal of strategic management is to A) achieve competitive advantage. B) maintain competitive advantage. C) achieve and maintain competitive advantage. D) eliminate competitive advantage. E) eliminate and abolish competitive advantage.
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HR and line managers share responsibility for most human resource activities. a. True b. False
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What is Best Buy’s business-level strategy?
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Describe the three types of inventory of a manufacturing company.
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Grouper Company includes 1 coupon in each box of soap powder that it packs, and 10 coupons are redeemable for a premium (a kitchen utensil). In 2017, Grouper Company purchased 8,500 premiums at 80 cen
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Describe the difference between a fixed-quantity and a fixed-period inventory system and provide an example for each.
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True Football Helmet Company uses the fixed-period system to manage the inventory of the Riddell SpeedFlex model of football helmets. The following information has been collected: Demand = 200 units/week Number of weeks per year = 52 Order lead time = two
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Peterboro Supply has a current accounts receivable balance of $391,648. Credit sales for the year just ended were $5,338,411. How long did it take on average for credit customers to pay off their accounts during the past year? a) 24.78 days b) 26.78 day
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What are the six basic elements of a performance management program? What will be an ideal response?
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Research suggests that strategic management evolves through four sequential phases in corporations. The first phase is A) externally oriented planning. B) basic financial planning. C) internally oriented planning. D) forecast-based planning. E) strategic
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Which of the following is a service that provides short-term specialized recruiting to support specific projects without the expense of retaining traditional search firms? A) top-executive searches B) contingent-based searches C) on-demand recruiting s
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Company X stocks a certain type of container, each of which occupies 4 square feet of warehouse space. The warehouse space currently available for storing this type of container is limited to 3000 square feet. Demand for the container is 12,000 units per
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18-38 Scrap at time of sale or at time of production, journal entries (continuation of 18-36). Assume that Job #10 of Jellyfish Machine Shop generates normal scrap with a total sales value of $700 (i
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Premier Bank and Trust is considering giving Alou’s Company a loan. Before doing so, management decides that further discussions with Alou”s accountant may be desirable. One area of particular concern
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Define the role of Human Resource Management or HRM as it’s often referred to.
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Kroger, Safeway Inc., and Whole Foods Markets, Inc. are three grocery chains in the United States. Inventory management is an important aspect of the grocery retail business. Recent balance sheets for
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A large sporting goods store is placing an order for bicycles with its supplier. Four models can be ordered: the adult Open Trail, the adult Cityscape, the girl’s Sea Sprite, and the boy’s TrailBlazer. It is assumed that every bike ordered will be sold
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Which of the following is a possible production-operations management strategy? A. Selective specialization B. Inventory management systems C. User positioning D. Market logistics E. Database marketing
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Radovilsky Manufacturing Company, in Hayward California, makes flashing lights for toys. The company operates its production facility 300 days per year. It has orders for about 12,000 flashing lights per year and has the capability of producing 100 per da
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What are the objectives of internal control for payroll?
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Do you think that the shift leaders are properly classified as exempt? Why or why not?
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In the basic EOQ model, if D = 6,000 per year, S = $100, H = $5 per unit per month, the economic order quantity is \approx imately a) 24. b) 100. c) 141. d) 490. e) 600.
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Is effective leadership behavior universal or does it vary from culture to culture?
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Should goods shipped to a customer, FOB shipping point, that are still in transit be included in inventory at year-end? Explain.
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Mr. Dave Jones manages the warehouse inventory for Athleticks, a distributor of sports watches. From his experience, Mr. Jones knows that the PR-5 jogging watch has an average daily demand of 100 units and a performance cycle of 8 days. Mr. Jones requires
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What core values or business principles did Jim Sinegal stress at Costco?
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Merchandise inventory can be described as: a) an account appearing on a balance sheet of a merchandiser. b) products that a company owns and intends to sell. c) an account increased with a debit. d) an asset account. e) All of the above.
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In practice, what are the two methods for recording inventory movements? a. perpetual and periodic inventory systems b. daily and annual inventory systems c. commercial and manufacturing inventory systems d. continuous and discontinuous inventory systems
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What are some of the risks associated with inventory? How do managers minimize these risks?
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If the written amount on the check does not match the amount expressed in figures, the bank may: a. Pay the amount written in words. b. Return the check unpaid. c. Contact the drawer to see what was meant. d. All of the above.
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Deciding Whether to Use Flexible Staffing The Kaiser Manufacturing Company (KMC) has been in existence for oveDeciding Whether to Use Flexible Staffing The Kaiser Manufacturing Company (KMC) has been
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What is transformational leadership? Give examples of organizational situations that would call for transformational, transactional, or charismatic leadership.
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What is the greatest difficulty in deciding and implementing a business strategy on the part of the firm?
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A) What is HR research? B) Why would HR research be important for a firm?
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Aldo Shoes bought a shipment of 743 pairs of women’s shoes for $28.00 per pair. The store sold 168 pairs at the regular selling price of $183 per pair, 45 pairs at a clearance sale at a discount of 49%, and the remaining pairs during an inventory sale at
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There are four steps in the auditor’s process of understanding internal control and assessing control risk for a public company. The first step is to obtain and document an understanding of internal control: design and operation. What are the remaining th
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Three expense recognition methods (associating cause and effect, systematic and rational allocation, and immediate recognition) were discussed in the text under the expense recognition principle. Indicate the basic nature of each of these expense recognit
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A large law firm uses an average of 41 boxes of copier paper a day. The firm operates 263 days a year. Storage and handling costs for the paper are $31 a year per box, and it costs \approx imately $64 t
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Describe the three separate ways that entrepreneurs identify new business, product, and service opportunities.
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What are inventories on a balance sheet?
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