Four perpectives of strategy

Which model focuses on formal and structured roles for accounting?

Strategic Model

Classical Model (correct)

Processual Model

Hybrid Model

Which model emphasizes cost control and revenue maximization?

Processual Model

Strategic Model

Hybrid Model

Classical Model (correct)

Which model provides a support system for understanding the environment, resources, and potential?

Hybrid Model

Processual Model

Classical Model (correct)

Strategic Model

Which model is characterized by strategists having bounded rationality?

Processual Model Signup and view all the answers

Which model is described as loose and flexible?

Processual Model Signup and view all the answers

Which of the following is a key objective of management accounting mentioned in the text?

Achieving long-term sustainability Signup and view all the answers

What is a distinguishing feature of management accounting systems that consider trust as an important factor?

They evaluate performance based on trust rather than numerical performance measures Signup and view all the answers

Which type of performance measures does traditional management accounting typically emphasize?

Quantitative measures Signup and view all the answers

What are some examples of numerical performance measures mentioned in the text?

Financial ratios, profit margins, return on investment Signup and view all the answers

Which of the following is NOT mentioned as a reason for management accounting?

Improving employee satisfaction Signup and view all the answers

According to the evolutionary model, what is a key characteristic of the industry's evolution?

Competition leads to consolidation of weaker firms Signup and view all the answers

What is the term used to describe a market structure where a small number of large firms dominate the industry?

Oligopoly Signup and view all the answers

According to the systemic model, what is a key feature of 'doing' strategy?

Planning should consider social and cultural factors Signup and view all the answers

What is the focus of the resource-based view of strategy?

Developing core competencies Signup and view all the answers

What is a role of accounting in the evolutionary model?

Cutting out significant cost excesses in production Signup and view all the answers

Which of the following is NOT mentioned as an alternative approach to doing business in the text?

Focusing solely on profit Signup and view all the answers

What does the Chinese concept of 'Guanxi' refer to?

Building and maintaining strong personal relationships Signup and view all the answers

What does the Japanese concept of 'Keiretsu' represent?

A group of interrelated companies with financial and business ties Signup and view all the answers

What does the Korean concept of 'Chaebol' refer to?

Large business conglomerates with subsidiaries in various industries Signup and view all the answers

How does a systemic model relate to rational planning?

It helps in understanding complex relationships and dependencies Signup and view all the answers

Which model is characterized by strategists having bounded rationality?

Processual Model Signup and view all the answers

What is the role of the 'planning office' in the Classical Model?

To formulate the strategy together with the CEO Signup and view all the answers

What is a key objective of management accounting mentioned in the text?

Cost control and revenue maximization Signup and view all the answers

Which model provides a support system for understanding the environment, resources, and potential?

Classical Model Signup and view all the answers

What is a distinguishing feature of management accounting systems in the Classical Model?

Formal and structured roles Signup and view all the answers

Which model is described as loose and flexible?

Processual Model Signup and view all the answers

What technique is used for valuing strategic options in the Classical Model?

Discounted Cash Flow (DCF) Signup and view all the answers

What is a key characteristic of the 'emergent' strategizing process?

It relies on employees making the right call when needed. Signup and view all the answers

What is the main focus of the resource-based view of strategy?

Developing core competencies Signup and view all the answers

What is a key characteristic of the evolutionary process in industries?

There is a distribution of outcomes for firms. Signup and view all the answers

What is a 'shake-out' in the context of industry evolution?

A phase of intense competition leading to the exit of weaker firms. Signup and view all the answers

What is an 'oligopoly' in the context of industry competition?

A market structure with a few dominant firms. Signup and view all the answers

What is a key feature of the systemic model of strategy?

It emphasizes social and cultural factors. Signup and view all the answers

What is an alternative approach to doing business mentioned in the text?

Cutting cost excesses Signup and view all the answers

What is the purpose of forming alliances or partnerships in the business world?

To prioritize gaining market share Signup and view all the answers

What is the Chinese concept of 'Guanxi' based on?

Trust and connections Signup and view all the answers

What does the Japanese concept of 'Keiretsu' refer to?

Interrelated companies with financial and business ties Signup and view all the answers

What does the Korean concept of 'Chaebol' denote?

Large business conglomerates Signup and view all the answers

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

A systemic model helps inform and improve rational planning processes Signup and view all the answers

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

It helps understand the intricate web of relationships and dependencies Signup and view all the answers

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

Anticipate and account for unintended consequences Signup and view all the answers

Which of the following is a characteristic of management accounting systems that consider trust as an important factor?

They place less emphasis on numerical metrics and performance indicators. Signup and view all the answers

What is the main focus of traditional management accounting?

Using numerical metrics and performance indicators Signup and view all the answers

Which of the following is NOT mentioned as a quantitative performance measure used in traditional management accounting?

Trust Signup and view all the answers

What is the purpose of management accounting according to the text?

Enabling long-run sustainability and long-term brand recognition/political/social influence Signup and view all the answers

Which of the following is a key characteristic of management accounting systems that consider trust as an important factor?

They place less emphasis on numerical metrics and performance indicators. Signup and view all the answers

Which type of management accounting system places a heavy emphasis on using numerical metrics and performance indicators?

Traditional system Signup and view all the answers

What role does trust play in certain approaches to management accounting?

It is an important factor in evaluating performance. Signup and view all the answers

What is the focus of management accounting systems that consider trust as an important factor?

Evaluating performance based on trust Signup and view all the answers

What is a key objective of management accounting mentioned in the text?

Enabling long-run sustainability leading to long-term brand recognition or political/social influence Signup and view all the answers

Four perpectives of strategy

Questions and Answers

Which model focuses on formal and structured roles for accounting?

Which model emphasizes cost control and revenue maximization?

Which model provides a support system for understanding the environment, resources, and potential?

Which model is characterized by strategists having bounded rationality?

Which model is described as loose and flexible?

Which of the following is a key objective of management accounting mentioned in the text?

What is a distinguishing feature of management accounting systems that consider trust as an important factor?

Which type of performance measures does traditional management accounting typically emphasize?

What are some examples of numerical performance measures mentioned in the text?

Which of the following is NOT mentioned as a reason for management accounting?

According to the evolutionary model, what is a key characteristic of the industry's evolution?

What is the term used to describe a market structure where a small number of large firms dominate the industry?

According to the systemic model, what is a key feature of 'doing' strategy?

What is the focus of the resource-based view of strategy?

What is a role of accounting in the evolutionary model?

Which of the following is NOT mentioned as an alternative approach to doing business in the text?

What does the Chinese concept of 'Guanxi' refer to?

What does the Japanese concept of 'Keiretsu' represent?

What does the Korean concept of 'Chaebol' refer to?

How does a systemic model relate to rational planning?

Which model is characterized by strategists having bounded rationality?

What is the role of the 'planning office' in the Classical Model?

What is a key objective of management accounting mentioned in the text?

Which model provides a support system for understanding the environment, resources, and potential?

What is a distinguishing feature of management accounting systems in the Classical Model?

Which model is described as loose and flexible?

What technique is used for valuing strategic options in the Classical Model?

What is a key characteristic of the 'emergent' strategizing process?

What is the main focus of the resource-based view of strategy?

What is a key characteristic of the evolutionary process in industries?

What is a 'shake-out' in the context of industry evolution?

What is an 'oligopoly' in the context of industry competition?

What is a key feature of the systemic model of strategy?

What is an alternative approach to doing business mentioned in the text?

What is the purpose of forming alliances or partnerships in the business world?

What is the Chinese concept of 'Guanxi' based on?

What does the Japanese concept of 'Keiretsu' refer to?

What does the Korean concept of 'Chaebol' denote?

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

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

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

Which of the following is a characteristic of management accounting systems that consider trust as an important factor?

What is the main focus of traditional management accounting?

Which of the following is NOT mentioned as a quantitative performance measure used in traditional management accounting?

What is the purpose of management accounting according to the text?

Which of the following is a key characteristic of management accounting systems that consider trust as an important factor?

Which type of management accounting system places a heavy emphasis on using numerical metrics and performance indicators?

What role does trust play in certain approaches to management accounting?

What is the focus of management accounting systems that consider trust as an important factor?

What is a key objective of management accounting mentioned in the text?

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