Podcast
Questions and Answers
What is the first step in creating an Internal Factor Evaluation (IFE) Matrix?
What is the first step in creating an Internal Factor Evaluation (IFE) Matrix?
- Assign a weight ranging from 0.0 to 1.0
- Multiply the weight times the rating
- Sum the weighted scores
- List key internal factors (correct)
How often should data in an information system be updated for effective management?
How often should data in an information system be updated for effective management?
- Once a year
- Regularly (correct)
- Only when new information is available
- Half-yearly
Which of the following represents a common measure of a firm's information system user-friendliness?
Which of the following represents a common measure of a firm's information system user-friendliness?
- Computer training workshops for users (correct)
- Number of passwords required
- Frequency of system upgrades
- Availability of competitive analysis tools
What rating scale is used for each factor in the IFE Matrix?
What rating scale is used for each factor in the IFE Matrix?
Which aspect of an information system is important to ensure that all users understand its benefits?
Which aspect of an information system is important to ensure that all users understand its benefits?
What is the primary purpose of an internal audit?
What is the primary purpose of an internal audit?
Which of the following is NOT identified as a category for assessment in an internal audit?
Which of the following is NOT identified as a category for assessment in an internal audit?
What are distinctive competencies in the context of strategic management?
What are distinctive competencies in the context of strategic management?
In the internal audit process, information is gathered from all areas EXCEPT:
In the internal audit process, information is gathered from all areas EXCEPT:
Which aspect is evaluated in a management audit checklist?
Which aspect is evaluated in a management audit checklist?
How do internal strengths relate to the development of strategies?
How do internal strengths relate to the development of strategies?
What question does NOT typically appear on a management audit checklist?
What question does NOT typically appear on a management audit checklist?
What statement best describes the relationship between distinctive competencies and competitive advantage?
What statement best describes the relationship between distinctive competencies and competitive advantage?
Which aspect is NOT part of a marketing audit?
Which aspect is NOT part of a marketing audit?
What is assessed to determine the effectiveness of reward mechanisms in an organization?
What is assessed to determine the effectiveness of reward mechanisms in an organization?
Which financial decision relates to the distribution of earnings to shareholders?
Which financial decision relates to the distribution of earnings to shareholders?
Which of the following is NOT a function of marketing?
Which of the following is NOT a function of marketing?
What is one of the elements evaluated in the finance/accounting audit?
What is one of the elements evaluated in the finance/accounting audit?
Which factor is crucial for assessing a firm's competitive position?
Which factor is crucial for assessing a firm's competitive position?
What does a low employee turnover rate typically indicate?
What does a low employee turnover rate typically indicate?
Which of these is a component of the marketing function regarding products/services?
Which of these is a component of the marketing function regarding products/services?
What is a key function of production and operations in a firm?
What is a key function of production and operations in a firm?
Which factor is NOT evaluated in a production/operations audit?
Which factor is NOT evaluated in a production/operations audit?
What is one function of research and development within a firm?
What is one function of research and development within a firm?
In an audit of research and development, which of the following is assessed?
In an audit of research and development, which of the following is assessed?
Which statement about management information systems is accurate?
Which statement about management information systems is accurate?
What is one aspect that should be evaluated regarding the R&D personnel?
What is one aspect that should be evaluated regarding the R&D personnel?
What should be considered in a production/operations audit regarding suppliers?
What should be considered in a production/operations audit regarding suppliers?
Which element is essential for R&D to remain competitive?
Which element is essential for R&D to remain competitive?
