In crafting a company's strategy, managers
A. are wise not to decide on concrete courses of action in order to preserve maximum strategic flexibility.
B. face the biggest challenge of how closely to replicate strategies of successful companies in the industry.
C. are well-advised to be risk-averse and develop a "conservative" strategy-"dare-to-be-different" strategies are rarely successful.
D. have comparatively little freedom in choosing the "hows" of strategy.
E. need to come up with a sustainable competitive advantage that draws in customers and produces a competitive edge over rivals.
Answer: E
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Which of the following is not considered when preparing the cost of goods sold budget?
a. Budgeted factory overhead. b. Budgeted dollar value of finished goods inventory at the end of the period. c. Budgeted sales dollars. d. Budgeted dollar value of work-in-process inventory at the beginning of the year.
Merchandise inventory becomes part of cost of goods sold when a company
a. receives payment from the customer. b. pays for the inventory. c. purchases the inventory. d. sells the inventory.
Short-termism is defined as
A. assessing the short-term costs of complying with government regulations. B. assessing the costs and damages to the company's reputation as a result of ethical violations. C. making assessments of the moral character of a company's managers. D. the tendency for managers to focus on immediate performance objectives at the expense of longer-term strategic objectives. E. weighing the short-term costs of regulatory compliance with the long-term costs of noncompliance.
At the project level, all of the following are examples of oversight activities EXCEPT
A. Project selection. B. Audit and review lessons learned. C. Review status reports. D. Review project objectives. E. Track and assist the project to resolve bottlenecks.