FSOT Full Test Bank - Question List

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21. Which is true for a business that is facing a turbulent, unpredictable business environment?
  1. It should leave its goals vague to be more flexible.
  2. It should avoid milestones so that workflow is allowed to remain fluid.
  3. It should write detailed plans that attempt to cover every possibility.
  4. It must innovate strategic controls appropriate for its environment.
22. Which of the following is not a part of effective short-term goal setting?
  1. Clear standards for measuring success
  2. An emphasis on doing your best
  3. Specific timelines for project completion
  4. Setting goals that are achievable without being trivial
23. When is an emphasis on corporate culture and intangible rewards more useful than strict rules?
  1. When work is creative and self-directed
  2. When work can be measured and evaluated exactly
  3. When a worker’s output is standardized
  4. When tasks are repetitive and low-skilled
24. What is the difference between a joint venture and a strategic alliance?
  1. A joint venture is legally binding, while a strategic alliance is not.
  2. Strategic alliances can be accused of illegal price fixing.
  3. Joint ventures involve the creation of third-party entities.
  4. Joint ventures can only include two companies; a strategic alliance can have any number.
25. What can stockholders reasonably expect of company managers?
  1. That they add value to the stockholders’ investment
  2. That they diversify the stockholders’ portfolio
  3. That they maximize short-term yields for the stockholders
  4. That they minimize the stockholders' overall exposure

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