business and management

1. Which of the following is NOT a task of the board of directors in strategic management?

   Answer

   		to monitor
   		to implement
   		to influence
   		to initiate and determine

4 points

Question 2

1. A highly involved board does all of the following EXCEPT:

   Answer

   		tends to be very active.
   		provides advice when necessary.
   		keeps management alert.
   		manage the everyday operations of the organization.

4 points

Question 3

1. As defined in this course, a policy is:

   Answer

   		the purpose or reason for a corporation's existence.
   		a statement of activities or steps needed to accomplish a single-use plan.
   		a broad guideline for making decisions that links the formulation of strategy with its implementation.
   		a comprehensive master plan stating how a corporation will achieve its mission and objectives.

4 points

Question 4

1. The U.S. Clayton Act and Banking Act of 1933:

   Answer

   		promote interlocking directorates by U.S. companies to foster better communications and working relationships.
   		prohibit acts or contracts tending to create a monopoly.
   		prevent unfair practices in interstate commerce.
   		prohibit interlocking directorates by U.S. companies competing in the same industry.

4 points

Question 5

1. According to the text, most publicly owned large corporations today tend to have boards with what degree of involvement in the strategic management process?

   Answer

   		passive to minimal
   		minimal to nominal
   		rubber stamp type
   		nominal to active

4 points

Question 6

1. The function of a nominating committee is to:

   Answer

   		find board members who have compatible viewpoints with management.
   		find outside board members for election by the stockholders.
   		search for internal employees who would provide valuable insight into the working operations of the corporation.
   		search for candidates who could bring prestige to the board.

4 points

Question 7

1. Strategic planning within a small organization:

   Answer

   		may be informal and irregular.
   		must be elaborate to allow for future growth.
   		should always be formalized and explicitly stated.
   		should be done by the president only.

4 points

Question 8

1. The emphasis of strategic management is on:

   Answer

   		monitoring and evaluating external opportunities and threats in light of a corporation's strengths and weaknesses.
   		first line managers.
   		the short-run performance of the corporation.
   		an examination of the organization's internal environment.

4 points

Question 9

1. The integrated internationalization of markets and corporations is called:

   Answer

   		normalization.
   		economic integration.
   		globalization.
   		nationalization.

4 points

Question 10

1. Strategic planning in a multidivisional corporation:

   Answer

   		should be informal to allow complete understanding by the many participants.
   		should be instigated only from the main corporate office.
   		should be accomplished quickly to decrease the likelihood of it becoming outdated.
   		should be a formalized and sophisticated system.

4 points

Question 11

1. Explain the Sarbanes-Oxley Act and its impact on corporate governance. How has it changed the way we do business in the United States? Please include an example to support your viewpoint.

   Answer

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30 points

Question 12

1. What are the responsibilities of the board of directors? Please provide an example of a board of directors that did not meet its responsibilities.

   Answer

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