Sandra, the CEO of Danforth & Caldwell, seeks input from both her top management team and the lower levels of the company before she decides on strategies about the future direction of the company. Judging from this, Danforth & Caldwell is a(n) ________ organization.
A) mechanistic
B) high-involvement
C) flat
D) just-in-time
E) authoritarian
B) high-involvement
Explanation: In a high-involvement organization, top leaders ensure consensus about the direction in which the business is heading by seeking input from their team and middle managers and sometimes from lower levels, depending on the issue.
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Under the Uniform Commercial Code (UCC), a lawsuit for breach of a sales contract must be filed:
A. within a year after the breach is detected. B. within ten years after the breach occurs. C. as soon as the breach is detected. D. within four years after the breach occurs.
A company is analyzing its month-end results by comparing it to both static and flexible budgets. During the month, the actual fixed costs were lower than the expected fixed costs as per the static budget. This difference results in a(n) ________.
A) unfavorable flexible budget variance for fixed costs B) favorable sales volume variance for fixed costs C) favorable flexible budget variance for fixed costs D) unfavorable sales volume variance for fixed costs
A benchmarking process that is non-industry specific and focuses on how companies compete is referred to as ___________________________________
Fill in the blank(s) with correct word
Acme Global gave its top executives the opportunity to buy Acme Global stock in 5 years at the same price at which the stock is selling today. Acme Global is using a(n) ______ plan.
A. profit sharing B. stock purchasing C. employee stock ownership D. stock option