Golden Age of Capitalism Essay Example | Topics and Well Written Essays - 750 words

Brilliant Age of Capitalism - Essay Example This was when trade was being upset with the development of new innovations in transport and correspondence which encouraged the global markets. Railways and steamships were utilized for land transportation of merchandise. This brought forth the universal market with products being shipped between nations, for example, America and England. The improvement of worldwide trade in fabricates on such a scale was just conceivable on account of an expansion in global progressions of capital and the universal arrangement of money related administrations (Milward 22). This was apparent in post world war II economy of Europe. By 1950 increasingly an incredible level of the salary of remote countries such Denmark was from outside exchange with different countries. The conversion scale between national monetary forms was steady regardless of the force among warring countries that was developing. Thus countries had the option to thrive and develop financially and advance reliance. The way of life for some, residents was at the time much better and kept on improving with the expansion in the national pay per capita because of monetary achievement. Over the period 1950-70, the pace of development of yield in the development division was somewhere in the range of 4 and 7 percent a year over Western Europe as entire, and in this way to some degree higher than the pace of development of all out yield (Milward 52). This additional to the achievement and monetary reliance of countries after World War II. Along these lines various divisions of various countries that had practical experience in an exchange to encourage development, rose extensively. The exchange shortage with the dollar zone expanded triple somewhere in the range of 1951 and 1957 (Milward 182). This expanded yield and western Europe had an excess that was remarkable. Help reached out to the residents of a country post war was vital in setting up the state as a methods for the individuals to better themselves. The general change of the German benefits frameworks in 1955-7 , an offer by the Christian Democratic Union for a drawn out working class appointive help, shared little for all intents and purpose, for instance with the augmentation of open government assistance in Sweden or Norway aside from an adherence to the view that the soundness of the state required a positive reaction to the interest for government assistance (Milward 47). This was significant in passing on to the open that as per the government assistanc e arrangements set up, they also were to add to the development of the economy in the nations referenced. In my point of view, this was a period of extraordinary hardships, those getting more extravagant were remote financial specialists, investors and vendors. Governments managed a hand, and drenched their economies in the developing scene advertise. This period in this way offered ascend to a whirlwind of new position openings in transportation and correspondence. The post-war reproduction of countries helped by mechanical progressions was intended to modify the economy, advance industrialization and modernization. Because of the achievement accomplished in this undertaking, it was important for the legislatures to keep up it for reasons for accomplishing financial reliance. Political solidness of this age put taking an interest nations in the cutting edge of global exchange, ventures, travel and movement which expanded more than some other period. It is inconceivable how countries had the option to encounter a period that was high in financial development because of transportation and correspondence progressions. This period was interesting and can't right now be

The Snowman Tradition free essay sample

He was constantly unbalanced. That was inescapable. Be that as it may, we were constantly pleased, in any case. We made him from our own hands, and he never looked half-terrible, on the off chance that I don’t state so myself. Of course, his eyes swell from his head, and truly, his face was unnaturally round, his nose irrationally pointed, and his arms ridiculously slim. He was a personification of life, however we wondered about him, our creation. It used to be that each winter, my kin and I would assemble a snowman in our patio. Mother would make reference to in passing that the patio was looking forceful unfilled, after the primary large snowfall, and we would all really try to understand, toss on our snow apparatus, and race out into the glaring white of another winter. Developing a snowman is an artistic expression. It takes care and persistence. One beginnings by pressing a snowball, and afterward moving it in the new day off. We will compose a custom article test on The Snowman Tradition or on the other hand any comparative subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Like exploding an inflatable, the ball mysteriously becomes bigger. My kin and I would race to see who could make theirs the biggest, albeit an infrequent snowball battle would breakout to occupy us from our underlying objective. In the long run, a victor was pronounced, and their mammoth snowball was utilized as our base. After this unique rivalry stage, it was all collaboration. My twin sibling Evan and I would take the next in line snowball, it being the second biggest, and equalization it on the base. The ideal middle. My more seasoned sibling Stephen would pack snow between the spaces, while my sister got water to solidify the recently pressed day off. The procedure was continued utilizing another snowball for the head. Two branches were then roughly pushed into the sides for arms. Rocks from beneath the patio shaped a slanted grin, a line of catches, and a couple of evil eyes. A carrot for a nose did what needs to be done. At the zenith of these underlying endeavors, we hurled a pail of water over our snowman for permanency, giving him a frosty covering that shone in the light. A scarf and gloves acquainted a human touch with our chilly companion. We would remain back, hands on our hips, and wonder about our aggregate endeavors. Hot cocoa back at the house was our last prize. This snowman making process was a custom all through my adolescence. One winter, notwithstanding, we halted; we were excessively old, it was a lot of work, it had lost its allure. Next, sledding was relinquished, and afterward, we quit going out into the snow by any means. We didn’t increase a loathing of winter. We were growing up, and all the more essentially, becoming separated. Furthermore, I loathed it. So a year ago, I rejuvenated the snowman convention. I attempted to enroll individual constructors, however they were occupied with different interests. So I meandered out into the snow alone, and I manufactured the base. I hunched down and moved my ever-developing snowball over the terrace, leaving a path afterward. I made a middle, and a head. I stuck in the branches, and the stones, and the carrot. I tossed a pail of water over my creation, and wore a baseball top on his head. Completed, I removed my gloves, happily offered them to the snowman, and ventured back to respect my workmanship. It took much longer alone, than it did as a group. My snowman was particularly disproportionate and despicable, obviously, I was glad for him. Mother snapped an image, an enduring token of my endeavors. I love my family, and I have felt that we have consistently been close. My kin and I are comparative in age, and we have grown close bonds with one another. My endeavors to revive the snowman convention reflect who I am: mindful, dedicated, and perhaps only a smidgen wistful. I have voiced my interests to my kin about the developing separation among us, and I constantly attempt to unite us back, be it through an outing to the films, or an infrequent game. I just need to recollect our winters together and our endeavors during the time to recall why I need to revive our association. The winter is quick drawing nearer, particularly up here in Connecticut. Maybe you’ll discover a snowman in our terrace this year, after the main huge snowfall. I’m sure it will have been made by a bigger number of hands than one.

[Guest Post] Olivia S. 20 en Monterrey

[Guest Post] Olivia S. ‘20 en Monterrey While some of us have spent the first week of freedom from classes doing essentially nothing (Im @ing myself), other MIT students have hit the ground running with meaningful projects such as the one that the brilliant Olivia S. 20 describes below. Enjoy the read! _,.-~-.,__,.-~-.,__,.-~-.,__,.-~-.,__,.-~-.,__,.-~-.,__,.-~-.,__,.-~-.,__,.-~-.,_ Monterrey, Nueva León, México- After finals, I decided to immediately flee the country, which is what I did through the Big Dreams program. I stumbled into this opportunity by accident when scrambling for a summer UROP by the direct funding deadline (weve all been there). When my soon-to-be supervisor, Dr. Abel Sanchez, saw on my resume que yo hablo español, he asked if I wanted to join a teaching innovative that he founded. Big Dreams started last year with 50 girls, 2 teachers, and 1 city. This year it is 600 girls, 30 teachers, 60 local TAs, and 6 cities. Next year, we plan to grow 10-fold again to more countries, but then the growth pattern will (likely) pause. Speaking of patterns, Patrones Hermosas or Beautiful Patterns is the name of the curriculum that is being taught in all of these locations. The curriculum is designed around algorithmic thinking; the first day we dove right into the stable matching problem. First, the girls worked with decks of cards to match 4 Reyes (Kings) and 4 Reinas (Queens) while trying to maximize the happiness of the matches based on the preferences of the royalty. Each group came up with their own method, some strategic and some less so, about how to solve this problem. Déspues, I, my co-teacher, Nidhi, and Aracely, our wonderful TA, taught the algorithm that can always be used to maximize happiness, called Gale-Shapley. Here is a picture of the girls working on this problem: Livin The Dream with Gale-Shapley The rest of the week was dedicated to more offline exercises in the morning, and coding exercises in the afternoon. There definitely were some bumps in the road, the language barrier being one of the biggest ones. Luckily, most of my Spanish came back from high-school and I was able to communicate with the girls and get around in the city in a mix of Spanglish. Translation only went awry once, when I tried to order fried plantains at a restaurant banana on a plate Computer science education, especially to young girls, is a cause that everyone involved with Big Dreams cares about and wants to see improve. Tech companies like Softtek, which is where I taught, who are opening their doors y cafeterías to this type of initiative are role-models for the rest of the industry. Thank you to Rosario and Hilda at Softtek for taking care of everything this week. Aracely, the best TA ever, in the funky chairs at Softtek Graciás a la University of Monterrey for hosting us on your beautiful campus. Thank you to Abel and the rest of the organizers for making this happen. Oh, and to Monterrey para las montañas Priya in the Sierra Madre Pankhuri and me in Barrio Antiguo Post Tagged #summer

Argumentative Essay On Nuclear Waste - 1712 Words

A world filled with uncertainty is already a scary place to live. Murphy’s law only makes that uncertainty destined for disaster where anything can go wrong, will undoubtedly go wrong. The United States has placed itself under the mercy of Murphy’s law, not because of Trump’s threats of war with North Korea, but because it has no safe way of disposing of its nuclear waste. Radiation is a silent killer; if exposed into the environment it could lead to genetic mutations, cancer, and if long enough, premature death. Furthermore, radioactive material can work its way up from the environment to animals, to humans up the food chain nowhere near the site of exposure. We have been complacent in finding a permanent solution to nuclear waste†¦show more content†¦That one percent of waste can be devastating to any ecosystem it is exposed to. Radiation is invisible, it has no scent, it cannot be cleaned by soap, and it should be of concern as much as any disease or virus. The scientific community unanimously agrees that exposure to high levels of radiation is a health hazard. Many people feel unconcerned because they feel it’s not a relevant problem in their lives. However, there are over 71,000 tons of nuclear waste simple in temporary storage at the U.S.’s 104 nuclear reactors (Oliver). Nearly one out of three Americans live within a 50-mile radius of a reactor filled with waste (Oliver). Still many are skeptical remaining ignorant of the potential dangers of radiation exposure. The severity of the damage to a person’s heath due to radiation is based on how much radiation and how long they were exposed to the amounts of radiation. The amount of radiation a person receives is measured in â€Å"rem† and depending on that the health effects could range from no observable health effects, to cancer, to even death (Effects of Radiation). Even a fraction of the amount of radiation to kill a person could cause nausea, fatigue, v omiting, loss of appetite, loss of hair and abnormalities in blood cells (Effects of Radiation). Nuclear waste from a typical fuel rod will still have 2,000 times more rem than the required dosage to kill a person even after 10 years (USNRC). Clear examples of why people should be worried about exposure toShow MoreRelatedI Am The Product Of Clark County Educational System Essay1503 Words   |  7 Pageshow to write essays correctly. I am the product of Clark County Educational system. I have always struggled through my last classes and hoped to get out of my struggles this semester. One the greatest challenges that I faced was the distinction that existed among different types of writings that are performed within the English language. 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Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pagesthe job of managing people seem much simpler than it is. Most are based on the author’s opinions rather than substantive research, and it is doubtful that one person’s experience translates into effective management practice for everyone. Why do we waste our time on â€Å"fluff† when, with a little effort, we can access knowledge produced from thousands of scientific studies on human behavior in organizations? Organizational behavior is a complex subject. Few, if any, simple statements about human behavior

Kassatly Chtaura - 1648 Words

Kassatly Chtaura ABSTRACT In April 2013, Kassatly Chtaura, a family-owned company of both alcoholic and non-alcoholic beverages headquartered in Chtaura, Lebanon, faces a dilemma. It is doing well with regard to sales and market share and has succeeded in building a solid income. Meanwhile, the prior year’s numbers show dim growth performance, and the family is unsatisfied about sales of its syrups, juices, ready-to-drink beverages and wines have reached a plateau. Should the firm extend its supply network or manufacture a new factory and move some operations to Angola or Saudi Arabia? They are in distant locations with distinct cultures, although these are assuring markets. Or should it stay put and expand its operations by introducing†¦show more content†¦Undoubtedly, one of the advantages that Kassatly Chtaura has, is how they shape their strategy, implement new drinks according to market trends and its innovative position in alcoholic and non-alcoholic beverages. They have been receiving much recognition for the ingredients that are used in its production. The same laws have specified restrictions on alcohol and energy drinks, and thats where Kassatly Chtaura could find the right time to launch its various products in Lebanon and in turn be related to Saudi Arabia, which provides an advantage to position itself in the group GCC in the Middle East. However, the tension is handled in the country of Lebanon and in the closest countrie s. Is a rapid change that may arise from the overnight, so achieving manufacturing in another country where it is not fully understood the culture, the rules and laws governing, is a risk that can be significant in the formation of an expansion in Saudi Arabia or in Africa as an emerging market that is growing nowadays. Kassatly Chtaura is a company that has taken advantage of the situation, resources and the regions where they can make some investment to prop up the finances and not fall into a low development of innovation in the products they handle. Implementation of vodka, energy drinks and even some alignment with the wines have kept the name Kassatly Chtaura outside the Lebanese community, and internationally, they have achieved some recognition.

Sop Biomedical Engineering Free Essays

The wonders that science and technology have unfolded before us are not limited to time and space . My aim in life is to accumulate this diverse knowledge from all over the world. With this cherished goal in my mind, I wish to state in the following paragraphs, my viewpoints and the rational behind my application to the graduate studies program in Bio-Medical Instrumentation at **** university. We will write a custom essay sample on Sop Biomedical Engineering or any similar topic only for you Order Now Throughout my ten years of school life and two years of high school study, I have maintained a consistent and good academic record and was always amongst the top five of my class. Coming to extra-curricular activities, I was the head sports captain for girls and also participated in the state level U. N. Celebrations. Aspiring for the best undergraduate course that all good science students do and also influenced bythe fact that I come from a family of engineers and scientists-I appeared for the EAMCET ( Engineering and Medical Common Entrance Test)and opted for Instrumentation and Control Engineering at ***** College, affiliated to JNTU , Hyderabad in Andhra Pradesh. During my undergraduate years I could learn the fundamentals in Transducers and Instrumentation Components, Electrical and Electronic measurements, Electronic Equipment design, Analytical Instrumentation, Process Control Instrumentation, Power plant Instrumentation , Digital and optimal Control Systems. I observed on various occasions , especially in transducers and instrumentation components which is a vast subject, that there existed a wide enough rift between learning and practical implementation. While the undergraduate courses enable a student to grasp the fundamentals involved in a particular discipline of engineering, they do not present the opportunity to learn the ropes with new technologies that are current within the industry. Specialization becomes a necessity to understand new technologies and to improve upon the existing ones. It is to achieve this sophistication that I set out to pursue my post-graduate (M. S. ) studies in Bio-Medical Instrumentation. During my third year holidays I have done a project on  Computerized  respiration analysis  through embedded systems, a part of Bio-Medical instrumentation, one of the electives in the final year. This short stint has given me invaluable practical experience. It has given me the confidence to pursue a master’s degree and also kindled a desire to do research. The undergraduate course in Instrumentation and Control Engineering and with the advice of widely respected teachers at the college has given me the motivation to pursue a career in Bio-medical Instrumentation . The sharing of ideas and new findings has always been a part of my undergraduate life. Presentations and seminars were a perfect opportunity for me to explore beyond the syllabus and were instrumental in giving me a competitive edge over my peers. I relish a chance to indulge my creative side and gaining a deeper understanding of my work in process of presentations. I enjoy diving into a flood of data, picking out relevant information and delivering it all to an appreciative audience! In second year of my under-graduation I got a chance to present a paper at national-level on the topic  Robotics. The dynamic nature of scientific research was revealed to me as I worked on my presentation. Often new theories were replaced by old ones so fast that I was updating my work right up till the morning I had to present. By this experience I could learn that before beginning the first robotics project, prospective robotic hobbyist and robotic sports enthusiasts must have a basic understanding of the field of robotics and the issues surrounding robotic systems, including mechanical design, sensory systems, electronic control and software. A basic understanding of micro-controller systems including serial and memory-mapped interfacing, as well as some available open source software options should also be high on the list. Quest for knowledge needs considerable persistence and an unquenchable desire to learn. Whatever I have achieved till now can be attributed to my diligence and perseverance, which I have learned from my close knit family and culture. With the same indefatigable spirit, I am ready to utilize and direct all my physical and mental abilities to achieve the same in my future studies and research work. I believe the field of instrumentation offered so immense a potential that given me an opportunity to opt for Bio-Medical Instrumentation, I would be interested to work in the area of bio-medical instrumentation which deals with its development. I bring along a strong grasp of fundamentals, an aptitude for teaching and team work, a zest for challenges and an enthusiastic desire to learn all I can. In addition I would like to take with me a network of strong and lasting relationships that I maintain with my teachers and fellow students. I hope that my qualifications and background are found suitable for MS in Bio-Medical Instrumentation at ******* university. Having been enlightened by many professors and several graduating seniors about the rigorous course work besides possessing state-of-the-art research facilities, I had no dilemma in choosing **** university as my dream university for pursuing my graduate studies. I am sure that *** university with dynamic faculty, well equipped laboratories and world renowned graduate programs would definitely help me in achieving my goals and contribute something of my own in my field of interest. I believe that with my capacity for hardwork, commendable logic and dedication to achieve my goals, I will be able to do very well in my Graduate course. I aver that I take it as a challenge and spare no effort of mine in utilizing the resources available at your university. I am sure that you will share my confidence and give me an opportunity to continue with my further studies at your esteemed university. How to cite Sop Biomedical Engineering, Papers

Strategic Management-Chapter 9 Essay Example

Strategic Management-Chapter 9 Paper Most strategists believe that an organizations well-being depends on evaluation of the strategic-management process. True Adequate and timely feedback is important to effective strategy evaluation. true Too much emphasis on evaluating strategies may be expensive and counterproductive. True Strategy evaluation should have a long-run focus and avoid a short-run focus. False According to Richard Rumelt, consonance and consistency are mostly based on a firms external assessment. False According to Rumelt, consistency and feasibility are largely based on a firms internal assessment. True Consistency, distinctiveness, advantage, and feasibility are Richard Rumelts four criteria for evaluating a strategy. False Strategy evaluation is becoming increasingly easier with the passage of time, given technological advances. False The decreasing time span for which planning can be done with any degree of certainty is a reason strategy evaluation is more difficult today. True Strategies may be inconsistent if policy problems and issues continue to be brought to the top for resolution. True Competitive advantages normally are the result of superiority in one of three areas: feasibility, consistency, or consonance. False Regardless of the size of the organization, a certain amount of management by wandering around at all levels is essential to effective strategy evaluation. True Evaluating strategies on a continuous rather than on a periodic basis allows benchmarks of progress to be established and more effectively monitored. true It is most effective to conduct strategy evaluation annually, at the end of the fiscal year. False Changes in the organizations management, marketing, finance and accounting, production and operations, research and development (RD), and management information systems (MIS) strengths and weaknesses should all be the focus of a revised EFE matrix in strategy evaluation. False In strategy evaluation, a revised IFE matrix should indicate how effective a firms strategies have been in response to key opportunities and threats. False Strengths, weaknesses, opportunities, cost and threats should continually be monitored for change because it is not really a question of whether these factors will change, but rather when they will change and in what ways. True When measuring organizational performance, you need to compare expected results to actual results. True Criteria for evaluating strategies should be measurable and easily verifiable. True Financial ratios are rarely used as criteria to evaluate strategies. False Measuring organizational performance includes comparing expected results to actual results, investigating deviations from plans, evaluating individual performance, and examining progress being made toward meeting stated objectives. True Intuitive judgments are almost always involved in deriving quantitative criteria. True Most quantitative evaluation criteria are geared to long-term objectives rather than annual objectives. False Measuring organizational performance requires making changes to reposition a firm competitively for the future. False Taking corrective actions does not necessarily mean that existing strategies will be abandoned, or even that new strategies must be formulated. True Corrective action in strategy evaluation is necessary to keep an organization on track toward achieving stated objectives. True Alvin Toffler argues that environments are becoming so dynamic and complex that they threaten people and organizations with future shock, in his thought-provoking books entitled Future Shock and The Third Wave. True Future shock occurs when the nature, type, and speed of changes overpower an individuals or organizations ability and capacity to adapt. True According to research, participation in strategy-evaluation activities is one of the best ways to overcome individuals resistance to change. True The form of a Balanced Scorecard does not vary for different organizations or industries. False The Balanced Scorecard approach deals with the question, How satisfied are the firms customers? True Each year, Fortune publishes strategy-evaluation research on both the United States and other countries. True Yahoo was one of the firms most admired in its industry according to Fortunes 2012 evaluation False Strategy-evaluation activities must be meaningful, that is, they should specifically relate to a firms objectives. True Timely approximate information is generally more desirable as a basis for strategy evaluation than accurate information that does not depict the present. true The test of an effective evaluation system is its complexity. false Small organizations require a more elaborate and detailed strategy-evaluation system because they are still evolving. false There is no one ideal strategy-evaluation system for all organizations. true Contingency plans are alternative plans that can be put into effect if certain key events do not occur as expected. true Organizations should prepare contingency plans just for unfavorable events. False Strategists should try to cover all bases by planning for all possible contingencies. false Contingency plans should be as simple as possible. true Alternative strategies not selected for implementation should be discarded, as they have a tendency to contaminate the contingency plans. false Identifying both good and bad events that could jeopardize strategies is the first step of effective contingency planning. true A frequently used tool in strategy evaluation is the audit. true The U.S. Chamber of Commerce is against the accounting switch from GAAP to IFRS, saying it will cause cross-border commerce to decline. false Public accounting firms usually avoid strategy-evaluation services. false The accounting switch from GAAP to IFRS in the U.S. is going to cost businesses millions of dollars in fees and upgraded software systems and training. true Believing it will make it easier for investors to compare firms across countries and make it easier to raise capital globally, most large accounting firms and multinational firms favor the switch to IFRS. true The U.S. Chamber of Commerce supports the change from GAAP to IFRS, saying it will help the U.S. compete in the world economy. true IFRS standards comprise 25,000 pages, whereas GAAP standards comprise 5,000 pages. false Most executives believe that some strategic information should remain confidential to top managers. true Increased education and diversity of the workforce at all levels are reasons why the top-down approach should be favored in organizations. false Which of these is a basic activity of strategy evaluation? A) Reviewing the underlying bases of current strategies B) Comparing expected results with actual results C) Taking corrective actions D) Choices B and C only E) All of the above E) All of the above Too much emphasis on evaluating strategies A) may be expensive and counterproductive. B) is not possible the more emphasis the better. C) is good for morale, as employees like being closely evaluated. D) is always advised if the firm can afford it. E) is worse than too little or no evaluation. A) may be expensive and counterproductive. What is the cornerstone of effective strategy evaluation? A) Adequate and timely feedback B) Quality and quantity of managers C) Smaller ratio of top- to lower-level management D) Evaluation preceding implementation stage E) Punitive corrective actions A) Adequate and timely feedback All of these are Richard Rumelts criteria to evaluate a strategy EXCEPT A) advantage. B) consistency. C) feasibility. D) distinctiveness. E) consonance. D) distinctiveness. With the passage of time strategy evaluation is becoming A) increasingly difficult. B) much simpler. C) very convenient. D) an unnecessary activity. E) less important. A) increasingly difficult. All of the following are reasons strategy evaluation is more difficult today EXCEPT A) a dramatic increase in the environments complexity. B) the increasing number of variables. C) the increase in the number of both domestic and world events affecting organizations. D) the increasing time span for which planning can be done with any degree of certainty. E) the rapid rate of obsolescence of even the best plans. D) the increasing time span for which planning can be done with any degree of certainty. Which of the following is NOT a reason for the increasing difficulty of evaluating strategies? A) Product life cycles are longer. B) Domestic and world economies are less stable. C) Product development cycles are shorter. D) Technological advancement is more rapid. E) Change is occurring more frequently. A) Product life cycles are longer. Success today A) guarantees success tomorrow. B) is no guarantee of success tomorrow. C) should lull a firm into complacency. D) is all that really matters. E) none of the above. B) is no guarantee of success tomorrow. According to Rumelt, the final broad test of strategy is its A) advantage. B) feasibility. C) consonance. D) consistency. E) distinctiveness. B) feasibility. Competitive advantage normally is the result of superiority in resources, skills, or A) employees. B) position. C) consistency. D) feasibility. E) governance. B) position. What term refers to the need for strategists to examine sets of trends, as well as individual trends, in evaluating strategies? A) Consistency B) Consonance C) Synergy D) Feasibility E) Advantage B) Consonance Rumelts criteria of consonance refers to the need for strategists to examine A) inconsistent goals. B) sets of trends. C) impractical objectives. D) competitive advantages. E) the costs associated with particular strategies. B) sets of trends. If success for one organizational department means failure for another department, then strategies may be A) synergistic. B) advantageous. C) trendy. D) feasible. E) inconsistent. E) inconsistent. Modern organizational realities demand that employees demonstrate greater A) flexibility. B) innovation. C) creativity. D) initiative. E) all of the above E) all of the above Strategy-evaluation activities should ideally be performed A) just on a periodic basis. B) only at the onset of a problem. C) on a continuous basis. D) solely upon completion of major projects. E) annually only. C) on a continuous basis. Corrective actions are almost always ________ except when external and internal factors have not significantly changed and the firm is progressing satisfactorily toward achieving stated objectives. A) unnecessary B) needed C) undesirable D) prohibitively expensive E) futile B) needed If you discover during the course of strategy evaluation that major changes have occurred in the firms internal strategic position, you should A) continue on the present strategic course. B) wait until the next quarter to see if things revert. C) take corrective actions. D) follow the original strategic plan. E) none of the above C) take corrective actions. A revised ________ should focus on changes in the organizations management, marketing, finance and accounting, production and operations, research and development (RD), and management information systems (MIS) strengths and weaknesses. A) mission B) IFE matrix C) vision D) EFE matrix E) EPM matrix B) IFE matrix A revised ________ should indicate how effective a firms strategies have been in response to key opportunities and threats. A) IFE matrix B) mission C) EFE matrix D) vision E) CPM matrix C) EFE matrix Which of the following is NOT included in measuring organizational performance? A) Comparing results to competitors expectations B) Examining progress being made toward meeting stated objectives C) Investigating deviations from plans D) Evaluating individual performance E) Comparing expected results to actual results A) Comparing results to competitors expectations Which of the following is a corrective action a company might take to correct unfavorable variances? A) Divesting a division B) Revising objectives C) Raising capital with stock or debt D) Allocating resources differently E) All of the above E) All of the above Quantitative criteria commonly used to evaluate strategies are A) cash budgets. B) Balanced Scorecards. C) Capital Asset Pricing Models. D) financial ratios. E) present value analyses. D) financial ratios. Which of these is a potential problem associated with using only quantitative criteria for selecting strategies? A) Most quantitative criteria are geared to long-term objectives rather than annual objectives. B) Different accounting methods can provide different results on many quantitative criteria. C) Intuitive judgments are never used in deriving quantitative criteria. D) Quantitative criteria include human factors that may be underlying causes of declining performance. E) Quantitative criteria are not able to compare the firms performance over different period of time. B) Different accounting methods can provide different results on many quantitative criteria. Also important in evaluating strategies are ________ criteria, like high absenteeism and turnover rates, or low employee satisfaction. A) numerical B) qualitative C) quantitative D) accounting E) financial B) qualitative Financial ratios are used to compare a firms performance over different time periods, to compare the firms performance to industry averages, and to compare a firms performance with A) overall business standards. B) projected goals. C) the performance of suppliers. D) non-financial ratios. E) the performance of competitors. E) the performance of competitors. Most quantitative criteria are geared to ________ objectives rather than ________ objectives. A) top-management; employee B) short-term; annual C) annual; long-term D) environmental; community E) long-term; short-term C) annual; long-term What corrective actions might a firm take during strategy evaluation? A) Revise the business mission B) Issue stock C) Revise objectives D) Sell a division E) All of the above E) All of the above According to author Alvin Toffler, what occurs when the nature, types, and speed of changes overpower an individuals or organizations ability and capacity to adapt? A) Corporate insecurity B) Corrective actions C) Future shock D) Corporate agility E) Projected performance C) Future shock Corrective actions should always A) strengthen an organizations competitive position in its industry. B) streamline asset holdings. C) have no risk. D) involve abandoning existing strategies. E) all of the above A) strengthen an organizations competitive position in its industry. Research suggests that which of the following is one of the best ways to overcome individuals resistance to change in strategy evaluation? A) Participation B) Command-and-control C) Laissez-faire system D) Rational argument E) Emotional reactions A) Participation According to researchers, all of the following encourage individuals to accept change EXCEPT A) having a cognitive understanding of the changes. B) having a sense of control over the situation. C) having an awareness that necessary actions are going to be taken to implement change. D) participating in strategy-evaluation activities. E) being overpowered by the nature, types, and speed of changes. E) being overpowered by the nature, types, and speed of changes. Corrective action should do all of the following EXCEPT A) capitalize upon internal strengths. B) avoid external opportunities. C) avoid external threats. D) improve internal weaknesses. E) strengthen an organizations competitive position. B) avoid external opportunities. Which of the following is NOT one of the four perspectives from which the Balanced Scorecard allows firms to evaluate strategies? A) Social responsibility B) Financial performance C) Customer knowledge D) Internal business processes E) Learning and growth A) Social responsibility What aims to balance long-term with short-term concerns, financial with nonfinancial concerns, and internal with external concerns? A) Contingency planning B) The Balanced Scorecard approach C) Taking corrective action D) Benchmarking E) Consonance B) The Balanced Scorecard approach The Fortune 50 includes all of the following EXCEPT A) the largest retailers. B) the largest transportation companies. C) the largest utilities. D) the largest banks. E) the largest hospitals. E) the largest hospitals. Which of the following is NOT a key attribute that serves as one of the evaluative criteria for Fortunes Americas Most Admired Companies? A) People management B) Innovativeness C) Financial soundness D) Amount of physical resources E) Social responsibility D) Amount of physical resources The strategy-evaluation process should A) dominate decisions. B) be complex. C) be cumbersome. D) foster mutual understanding and trust. E) be restrictive. D) foster mutual understanding and trust. Controls need to be ________ rather than ________. A) action-oriented; information-oriented B) cultural; political C) qualitative; quantitative D) measurable; timely E) universal; diverse A) action-oriented; information-oriented The strategy-evaluation process should foster A) mutual understanding. B) doubt. C) corporate culture. D) complexity. E) division. A) mutual understanding. Which of the following is true regarding the design of a firms strategy-evaluation system? A) There is a one-size-fits-all system that works for all companies. B) It does not need to take into account the organizations size. C) The management style of a firm has no bearing on the design. D) It should be determined based on the unique characteristics of a company. E) There is one ideal system. D) It should be determined based on the unique characteristics of a company. ________ organizations require more elaborate and detailed strategy-evaluation systems than ________ ones because it is more difficult to coordinate efforts among different divisions and functional areas. A) Non-profit; for-profit B) For-profit; non-profit C) Large; small D) Small; large E) Foreign; domestic C) Large; small ________ plans can be defined as alternative plans that can be put into effect if certain key events do not occur as expected. A) Agile B) Scenario C) Evaluation D) Contingency E) Forecast D) Contingency Which of the following statements about contingency plans is NOT true? A) Contingency plans should be as simple as possible. B) Only high-priority areas require the insurance of contingency plans. C) Contingency plans should be developed for favorable and unfavorable events. D) Strategists should plan for all possible contingencies. E) Contingency plans minimize the impact of potential threats. D) Strategists should plan for all possible contingencies. What has been shown to permit quick response to change, prevent panic in crisis situations, and make managers more adaptable? A) Auditing B) Implementing a Balanced Scorecard C) Contingency planning D) Taking corrective actions E) Measuring performance C) Contingency planning What term is defined as a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between these assertions and established criteria, and communicating the results to interested users? A) Auditing B) Innovation C) RD D) Strategic Management E) Financial ratios A) Auditing International financial reporting standards (IFRS) comprise approximately ________ pages. A) 1,000 B) 5,000 C) 10,000 D) 25,000 E) 100,000 B) 5,000 Already the European Union and 113 nations including Australia, Mexico, and Canada have ________ IFRS rules. A) adopted and then abandoned the use of B) been prohibited from adopting C) spoken out publicly against the adoption of D) revised the standard version of the E) adopted or soon plan to use E) adopted or soon plan to use With regard to the visible or hidden issue, most executives agree that A) the SEC should regulate whether or not companies make their strategic information visible. B) some strategic information should remain confidential to top managers. C) a company has gone too far when it takes steps to ensure that strategic information is not disseminated beyond the inner circle. D) the potential benefit of improved employee and stakeholder motivation and input is not worth the risk of rival firms easily knowing and exploiting a firms strategies. E) keeping strategies secret from employees and stakeholder will likely improve communication, understanding, and commitment. B) some strategic information should remain confidential to top managers. A particularly important twenty-first-century challenge facing all strategists today is A) deciding whether the process should be more an art or a science. B) deciding whether strategies should be visible or hidden from stakeholders. C) deciding whether the process should be more top-down or bottom-up in their firm. D) all of the above E) none of the above D) all of the above Increased education and diversity of the workforce at all levels are reasons why A) the top-down approach is preferred. B) the bottom-up approach is untenable. C) only top executives have the experience and acumen to make strategy decisions. D) middle- and lower-level managers, and even nonmanagers, should be involved in the strategic planning process. E) the horizontal approach is the most pragmatic choice. D) middle- and lower-level managers, and even nonmanagers, should be involved in the strategic planning process. Most strategy literature advocates that strategic management is A) more of a science than an art. B) more of an art than a science. C) based on analysis rather than research. D) based on intuition rather than analysis. E) based on creativity rather than intuition. A) more of a science than an art. All of the following are reasons to be completely open as opposed to secretive with the strategy process EXCEPT A) Managers, employees and other stakeholders can readily contribute to the process. B) Stakeholders have greater basis for understanding and committing to a firm that is open. C) All levels of todays workforce exhibit increased education and diversity, making such contributions valuable. D) Participation and openness enhance understanding, commitment and communication within the firm. E) Openness limits rival firms from imitating or duplicating the firms strategies. E) Openness limits rival firms from imitating or duplicating the firms strategies. Mintzbergs notion of crafting strategies A) is consistent with the view that strategic management is more a science than an art. B) contends that firms need to assess their environments, do research, evaluate alternatives, analyze, and then choose a course of action. C) suggests that strategic decision making be based primarily on holistic thinking, intuition, creativity, and imagination. D) reject strategies that result from subjective imagination in favor of objective analysis. E) insists on formality. C) suggests that strategic decision making be based primarily on holistic thinking, intuition, creativity, and imagination.