Farmers Logistics Review For Chapter 4

18 Questions | Total Attempts: 598

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Farmers Logistics Review For Chapter 4

Multible choice test to help me study. I hope it helps. Good luck


Questions and Answers
  • 1. 
    • A. 

      Corporate

    • B. 

      Business unit

    • C. 

      Functional

    • D. 

      All of the above are levels at which strategy can be formulated

  • 2. 
    ________ strategy is focused on determining the goals for the company, the types of businesses in which the company should compete, and the way the company will be managed.
    • A. 

      Functional-level

    • B. 

      Business unit-level

    • C. 

      Divisional-level

    • D. 

      Corporate-level

  • 3. 
    Which of the following is not one of the generic strategies that can be pursued by an organization, as identified by strategist Michael Porter?
    • A. 

      Value enhancement

    • B. 

      Differentiation

    • C. 

      Cost leadership

    • D. 

      Focus

    • E. 

      All of the above are generic strategies

  • 4. 
    A _____________ stratgy entails an organization developing a product and/or service that offers unique attributes that are valued by customers and that the customer perceives to be distinct from competitor offerings.
    • A. 

      Focus

    • B. 

      Differentiation

    • C. 

      Value enhancement

    • D. 

      Market orientation

  • 5. 
    Which generic strategy concentrates an organization's effort on a narrowly defined market to achieve either a cost leadership of differentiation strategy?
    • A. 

      Hybrid

    • B. 

      Stuck-in-the-middle

    • C. 

      First to market

    • D. 

      Focus

  • 6. 
    A(n) _______ entails the functional units of an organization providing input into the other levels of strategy formulation.
    • A. 

      Supply chain

    • B. 

      Inter-functional cooperation

    • C. 

      Hierarchy of strategy

    • D. 

      Command and control style

  • 7. 
    Which of the following represents the preferred hierarchy of strategy (i.e., from the first strategy to be developed to the last to be developed)?
    • A. 

      Corporate to Business unit to functional

    • B. 

      Functional to business unit to corporate

    • C. 

      Corporate to business unit to divisional

    • D. 

      Business unit to divisional to functional

  • 8. 
    ________ strategy decisions involve issues such as the number and location of warehouses and the selection of appropriate transportation modes.
    • A. 

      Marketing

    • B. 

      Production

    • C. 

      Finance

    • D. 

      Logistics

  • 9. 
    Which of the following is not a potential type of logistics strategy decisions?
    • A. 

      Investments in technology that support logistics activities

    • B. 

      Selecting appropriate transportation modes

    • C. 

      Deployment of inventory

    • D. 

      Number and location of warehouses

    • E. 

      All are potential types of logistics strategy decisions

  • 10. 
    The _______ shows revenues, expenses, and profit for a period of time.
    • A. 

      Balance sheet

    • B. 

      Current ratio

    • C. 

      Income statement

    • D. 

      Annual report

  • 11. 
    In general, the _______ measures the profitability of the products and/or services provided by a company.
    • A. 

      Balance sheet

    • B. 

      Strategic profit model

    • C. 

      Balanced scorecard

    • D. 

      Income statement

  • 12. 
    Which of the following soes not appear on the balance sheet?
    • A. 

      Assets

    • B. 

      Owner's equity

    • C. 

      Liabilities

    • D. 

      Net income

    • E. 

      All appear on the balance sheet

  • 13. 
    Which of the following is a common measure of organizational financial succuss?
    • A. 

      Profitability

    • B. 

      The income statement

    • C. 

      Current ratio

    • D. 

      Return on investment

  • 14. 
    Return on assets equals:
    • A. 

      Current assets divided by total assets

    • B. 

      Return on investment divided by return on net worth

    • C. 

      Net profit margin times asset turnover

    • D. 

      Total assets divided by costs of goods sold

  • 15. 
    Which of the following is false regarding Strategic Profit Model (SPM)?
    • A. 

      Can assist the logistics manager in the evaluation of cash flows and asset utilization decisions

    • B. 

      Fails to consider the timing of cash flows

    • C. 

      Is subject to manipulation in the short run

    • D. 

      Fails to recognize assets that are dedicated to specific relationships

    • E. 

      All the above are true

  • 16. 
    What is the formula for net profit margin?
    • A. 

      Gross profit minus interest expenses

    • B. 

      Sales divided by costs of goods sold

    • C. 

      Total sales divided by total assets

    • D. 

      Net profit divided by sales

  • 17. 
    The balanced scorecard approach is based on the belief that management should evaluate their business fromm _____ distinct perspectives.
    • A. 

      Two

    • B. 

      Three

    • C. 

      Four

    • D. 

      Five

    • E. 

      None of the above

  • 18. 
    Which of the following is not one of the perspectives evaluated in the balanced scorecard approach?
    • A. 

      Customers

    • B. 

      Internal business processes

    • C. 

      Learning and growth

    • D. 

      Financial

    • E. 

      All of the above are perspectives in the balanced scorecard approach