Cultural Perspectives in Business
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Questions and Answers

Which model emphasizes the importance of cost control and revenue maximization in strategic implementation?

  • Both models
  • Neither model
  • Classical Model (correct)
  • Processual Model

    • Which model is characterized by its flexibility and recognition of personal biases?

  • Neither model
  • Both models
  • Classical Model
  • Processual Model (correct)

    • Which model provides a support system for understanding the environment, resources, and potential of an organization?

  • Classical Model (correct)
  • Processual Model
  • Neither model
  • Both models

    • Which model views the strategist as a 'rational economic man' who makes informed rational choices?

    <p>Classical Model</p> Signup and view all the answers

    Which model involves a 'planner' in the strategic team within an M-form entity?

    <p>Classical Model</p> Signup and view all the answers

    Which model focuses on top-level decision-making and distinguishes between planning and implementation?

    <p>Classical Model</p> Signup and view all the answers

    Which model recognizes that strategists have 'bounded rationality' due to circumstances, events, and personal biases?

    <p>Processual Model</p> Signup and view all the answers

    Which of the following is an example of a business strategy that prioritizes gaining market share over profit?

    <p>Chinese Guanxi</p> Signup and view all the answers

    Which term refers to the concept of building and maintaining strong personal relationships in Chinese business culture?

    <p>Guanxi</p> Signup and view all the answers

    What does the Japanese term 'Keiretsu' refer to?

    <p>Interrelated companies with financial and business ties</p> Signup and view all the answers

    What is the Korean term 'Chaebol' used to describe?

    <p>Large business conglomerates with subsidiaries in various industries</p> Signup and view all the answers

    What is the connection between a systemic model and rational planning?

    <p>Systems thinking helps inform and improve planning processes</p> Signup and view all the answers

    Why is a systemic model important for rational planning in complex environments?

    <p>It helps understand the intricate web of relationships and dependencies</p> Signup and view all the answers

    What does a systemic model encourage planners to do in the planning process?

    <p>Anticipate and account for unintended consequences</p> Signup and view all the answers

    Which of the following best describes the concept of 'emergent' strategizing according to the text?

    <p>A messy process that evolves over time and may become formalized</p> Signup and view all the answers

    What is the resource-based view (RBV) of strategy?

    <p>A process that requires a focus on internal strength and adaptation</p> Signup and view all the answers

    What is the key characteristic of the evolutionary process in industries according to the text?

    <p>Competition leads to a shake-out phase</p> Signup and view all the answers

    What does the term 'oligopoly' refer to in the context of industry evolution according to the text?

    <p>A market structure where a small number of large firms dominate</p> Signup and view all the answers

    What is the role of accounting in the evolutionary model of strategy?

    <p>To control costs and ensure survival</p> Signup and view all the answers

    What does the systemic model of strategy recognize according to the text?

    <p>The influence of social and cultural factors on people's behaviors</p> Signup and view all the answers

    What is the traditional Western approach to business?

    <p>A prioritization of profit maximization</p> Signup and view all the answers

    Which of the following is a characteristic of management accounting systems based on trust?

    <p>They consider trust as an important factor in evaluating performance.</p> Signup and view all the answers

    What is a common emphasis of traditional management accounting?

    <p>Using financial ratios</p> Signup and view all the answers

    Which of the following is NOT a quantitative performance measure typically used in management accounting?

    <p>Brand recognition</p> Signup and view all the answers

    What is the primary objective of management accounting systems based on trust?

    <p>Enabling long-run sustainability</p> Signup and view all the answers

    In what context or approach to management accounting does trust play a significant role?

    <p>Systems based on trust</p> Signup and view all the answers

    Which of the following is NOT a possible objective of management accounting?

    <p>Building trust</p> Signup and view all the answers

    What is a key difference between management accounting systems based on trust and traditional management accounting?

    <p>The consideration of trust in evaluating performance</p> Signup and view all the answers

    Which of the following is a quantitative performance measure typically used in management accounting?

    <p>Return on investment</p> Signup and view all the answers

    What is the role of numerical metrics in traditional management accounting?

    <p>To assess how well a company is doing</p> Signup and view all the answers

    Which of the following is a key characteristic of activity-based costing (ABC)?

    <p>Traces costs to activities</p> Signup and view all the answers

    What is the purpose of customer profitability analysis (CPA)?

    <p>To analyze the revenue streams and service costs associated with specific customers or customer groups</p> Signup and view all the answers

    Which costing system assigns manufacturing overhead based on the volume of a cost driver?

    <p>Traditional costing</p> Signup and view all the answers

    What is the primary use of ABC for products costing?

    <p>When production overheads are high in relation to direct costs</p> Signup and view all the answers

    What is the definition of customer profitability analysis (CPA)?

    <p>Analysis of the revenue streams and service costs associated with specific customers or customer groups</p> Signup and view all the answers

    Which of the following is a key element of modern business strategy according to the text?

    <p>Calculability principles</p> Signup and view all the answers

    What does the text suggest about the relationship between accounting and strategy?

    <p>Accounting is often invisible in strategy</p> Signup and view all the answers

    According to the text, what is the 'paradox' of strategic management accounting?

    <p>It is most successful when least needed</p> Signup and view all the answers

    What does the text suggest about the future and past in relation to strategy and accounting?

    <p>The future should be like the past for strategy and accounting to be successful</p> Signup and view all the answers

    What does the text suggest about the role of accounting in modern business enterprises?

    <p>Accounting is a central element in modern business enterprises</p> Signup and view all the answers

    According to the text, what is a worrying characteristic of strategic management accounting?

    <p>It lacks knowledge</p> Signup and view all the answers

    What does the text suggest about the relationship between strategic management accounting and other areas of study?

    <p>Strategic management accounting has not fully embraced other areas of study</p> Signup and view all the answers

    Which of the following is a key benefit of customer profitability analysis (CPA)?

    <p>Identifying the most and least profitable customer segments</p> Signup and view all the answers

    What does CPA enable organizations to do?

    <p>Formulate appropriate strategies for improved profitability</p> Signup and view all the answers

    What is the role of CPA in strategic application of activity-based costing (ABC)?

    <p>It extends the strategic application of ABC to enable customer-focused accounting.</p> Signup and view all the answers

    What is the focus of customer profitability analysis (CPA)?

    <p>Identifying the most and least profitable customer segments</p> Signup and view all the answers

    What is the purpose of customer profitability analysis (CPA)?

    <p>To identify the most and least profitable customer segments</p> Signup and view all the answers

    Which of the following is a benefit of customer profitability analysis (CPA)?

    <p>Informed strategy formulation for improved profitability</p> Signup and view all the answers

    Which of the following is a disadvantage of customer profitability analysis (CPA)?

    <p>CPA may overlook the combinations of products or services purchased by customers.</p> Signup and view all the answers

    What is the role of customer profitability analysis (CPA) in strategic decision making?

    <p>All of the above.</p> Signup and view all the answers

    What is the purpose of the Customer Profitability Matrix?

    <p>To determine the profitability of different customer segments.</p> Signup and view all the answers

    What is the primary use of Activity Based Costing (ABC)?

    <p>To allocate costs based on the volume of a cost driver.</p> Signup and view all the answers

    What are the advantages of Customer Profitability Analysis (CPA)?

    <p>All of the above</p> Signup and view all the answers

    What are the disadvantages of Customer Profitability Analysis (CPA)?

    <p>All of the above</p> Signup and view all the answers

    What is the concept of Customer Lifetime Value (CLV)?

    <p>All of the above</p> Signup and view all the answers

    What is the connection between a systemic model and rational planning in complex environments?

    <p>A systemic model provides a support system for understanding the environment, resources, and potential of an organization</p> Signup and view all the answers

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