In a short essay, list and discuss at least five important issues that are discussed with decision makers when a problem audit is conducted
What will be an ideal response?
a. The history of the problem - this is a discussion of the events that led to the decision to act.
b. The alternate courses of action available to the decision maker - the set of alternatives may be incomplete at this stage, and qualitative research may be needed to identify the more innovative courses of action.
c. The criteria that will be used to evaluate the alternative courses of action - for example, new product offerings might be evaluated on the basis of sales, market share, profitability, and return on investment.
d. The nature of potential actions that are likely to be suggested based on research findings - this research finding will likely call for a strategic marketing response to the competition.
e. The information that is needed to answer the decision maker's questions - the information needed includes a comparison of all elements of the marketing mix in order to determine relative strengths and weaknesses.
f. The manner in which the decision maker will use each item of information in making the decision - the key decision makers will devise a strategy based on the research findings and their intuition and judgment.
g. The corporate culture as it relates to decision making - in some firms, the decision-making process is dominant; in others, the personality of the decision maker is more important.
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Which types of questions should be asked about a company's relationship with financial institutions?
a. Is a significant part of the company's income or revenues derived from one or two large transactions? b. Has management placed unreasonable demands on the auditor, including unreasonable time constraints? c. Has significant "short selling" of the company's stock occurred? If so, for what reasons? d. Is the organization highly leveraged through bank or other loans?
If the direct write-off method of accounting for uncollectible receivables is used, what general ledger account is debited to write off a customer's account as uncollectible?
A) Uncollectible Accounts Payable B) Accounts Receivable C) Allowance for Doubtful Accounts D) Bad Debt Expense
The keyword DEFAULT can be used in place of the := symbol to assign initial values to the variables within the declaration statement.
Answer the following statement true (T) or false (F)
Stocks that pay large cash dividends on a regular basis are called:
A. Small capital stocks. B. Growth stocks. C. Large capital stocks. D. Mid capital stocks. E. Income stocks.