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Exam 6: International Monetary System

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Question 31

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___________ reflects measures of an organization's commitment to individuals, communities, and the natural environment..

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Question 32

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Goals and objectives provide a form of control since they create a feedback opportunity regarding how well or how poorly the organization is executing its strategy.

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Question 33

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Goals are typically not set for the organization, but for the stakeholders outside the organization.

It is usually top managers who set goals and objectives for the entire organization.

CSR stands for ___________________.

Goals and objectives serve to accomplish all of the following EXCEPT:

What are the characteristics of good objectives?

What is a tangible objective?

Financial outcomes are often short-term in nature and consequently focusing too much on financial measures may lead managers to overlook other key factors that might be very important to the longer-term viability of the organization.

_______________ is the net profit divided by total sales.

According to Drucker, managers should focus on the activity, not the result.

Management By Objectives (MBO) is a systematic and organized approach that aims to increase organizational performance by aligning the subordinate objectives throughout the organization with the overall goals set by management.

The most common appraisal error is __________, and managers often realize they are committing this error.

All of the following statements regarding performance evaluations are true EXCEPT:

A __________ is a constructive process to acknowledge an employee's performance.

When a scorecard is disseminated to others in the organization, strategy becomes a tool specifically for top management.

A Balanced Scorecard relies on which of the following processes to bind short-term activities to long-term activities?

List the questions addressed in setting a specific objective.

Differentiate Management by Objectives and the Balanced Scorecard.

A general objective has a much greater chance of being accomplished than a specific one.