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Questions # 1:

Barney (1991) identified four criteria necessary for a resource to be classed as unique and thus give competitive advantage. One of these is that it shouldn't be substitutable and another is that it should be rare.

 

Which TWO of the options below make up the list of four?

Options:
A.

Valuable

B.

Imperfectly Imitable

C.

Perfectly Imitable

D.

Costly to obtain

Questions # 2:

Kumari is about to start her new roie in the secretarial function of a law firm.

Which of the following is likely to be key part of her job?

Options:
A.

Ensuring legal duties are undertaken correctly at board level

B.

Controlling the provision of internal information

C.

Controlling the processing of transactions

D.

Ensuring internal processes are well controlled, efficient and effective

Questions # 3:

GG, the new CEO in an organisation, was surprised to find out that the company does not undertake competitor analysis. He was told that, as the organisation operates in a very dynamic market,  things change too quickly to make analysis worthwhile.

 

Choose from the following the option that presents why competitor analysis is important.

Options:
A.

It allows the organisation to use the budget that the Marketing Department has been allocated so it doesn't lose it in the future.

B.

It is an activity that satisfies the senior managers' requests.

C.

If competitor analysis is not undertaken a new competitor could have entered the market and could reduce the sales of the organisation.

D.

It can help the company to market its products.

Questions # 4:

A manager of a finance department has been asked to take on additional work and has been advised to delegate some of his current jobs to his subordinates. He has a good relationship with his team and understands both their abiilty to contribute good ideas and that their level of cooperation will effect his success.

 

Which of the methods of delegation below is likely to be the most successful for him?

 

Options:
A.

Consultation

B.

Explanation

C.

Custom and Practice

D.

Abdication

Questions # 5:

 

Examine the network diagram shown and identify ALL of the statements below that are true.

Question # 5

Options:
A.

Task C is a predecessor of E

B.

Task G may begin when either Task B or Task F have finished

C.

When Task A is complete, three tasks may begin

D.

Task D is a successor to F

Questions # 6:

When comparing a resource based approach with a positioning based approach, which of the following are statements are true about the positioning based approach?

Select ALL that apply.

Options:
A.

A positioning based approach is flexible and easy to adapt.

B.

A positioning based approach requires innovation to succeed.

C.

A positioning based approach leads to change, which can be difficult to manage.

D.

A positioning based approach offers consistency and stability based on resources and competencies.

E.

A positioning based approach can provide a product or service better than competitors.

F.

A positioning based approach is dangerous where the environment significantly changes.

Questions # 7:

FF Ltd was established three years ago. Since then the company, which provides online financial advice, has experienced rapid growth and the management team has not really had the time to put management systems and procedures into place.

 

The organisation has asked you to look at the way in which the company deals with its disciplinary problems and procedures.

 

Choose from the following ALL that apply as recommended guidelines for drawing up a disciplinary procedure:

Options:
A.

Procedures should be written down to avoid misunderstandings.

B.

Staff should be provided with a copy of the procedures and relevant sections of the policy made clear.

C.

Discipline is all about punishment and it should state this in the policy document.

D.

Disciplinary procedures should consist of having informal chats outside of the organisation.

E.

Steps should be detailed to investigate complaints that might lead to legal action.

F.

Appeals procedures should be given as and when required as a last resort.

Questions # 8:

The Board of organisation Y has authorised an upgrade to its computerised finance system.

 

The Finance Director, X, has been tasked with managing this project.  X has been requested to consult with stakeholders, in order that a Project Initiation Document (PID) may be produced.

 

What are the TWO main uses of a PID?

Options:
A.

To ensure that the project is broken down into work packages and a Work Breakdown Structure be produced.

B.

To produce a risk assessment of both internal and external risks that are likely to effect the project, and alternative actions to reduce the risks.

C.

To ensure that the project has a complete sound basis before any major commitment to the project.

D.

To act as a base document against which the project can be managed for progress, change management issues, and ongoing viability issues.

Questions # 9:

China, Korea, Japan and Vietnam are high context cultures. 

 

In business relationships in high context cultures, which THREE of the following are typical?

Options:
A.

People prefer to establish relationships first.

B.

People value expertise and performance.

C.

People form agreements based on trust.

D.

People prefer fast and efficient negotiations.

E.

People value personal relations and goodwill.

Questions # 10:

Someone who is assertive and uncooperative is using which conflict handling strategy?

Options:
A.

Competing

B.

Avoiding

C.

Collaborating

D.

Accommodating

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