chapter04 - CHAPTER 4 The Internal Assessment True/False...

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CHAPTER 4 The Internal Assessment True/False The Nature of an Internal Audit 1. One limitation of an internal audit is that external factors are not considered. Ans: F Page: 120 2. A firm’s distinctive competencies that cannot be easily matched or imitated by competitors are opportunities. Ans: F Page: 120 3. Robert Grant argues that the internal audit is more important in an organization than an external audit. Ans: T Page: 120 4. The process of performing an internal audit, compared to the external audit, provides more opportunity for participants to understand how their jobs, departments and divisions fit into the whole organization. Ans: T Page: 121 5. The processes of performing internal and external audits are remarkably different as well, given that external factors are beyond the control of management and internal factors are within management control. Ans: F Page: 121-122 6. An internal audit task force of managers could be charged with determining a specified number (usually 15 to 25) of the most important strengths and weaknesses. Ans: F Page: 122 7. Developing a 20-page list of strengths and weaknesses could be accomplished relatively easily, but a list of the most important ones involves significant analysis and negotiation. Ans: T Page: 122 30
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8. The most important word in management is “communication,” according to the author. Ans: T Page: 122 9. According to William King, top management should be charged with determining the 20 to 30 most important strengths and weaknesses that should influence the future of the organization. Ans: F Page: 122 10. Financial ratio analysis exemplifies the complexity of relationships among the functional areas of business. Ans: T Page: 122 Integrating Strategy and Culture 11. The subtle, elusive and largely unconscious forces that shape the workplace are captured by the organizational culture. Ans: T Page: 123 12. Remarkably resistant to change, a major strength or weakness for the firm can be represented by culture. Ans: T Page: 123 13. Values, beliefs, emotions and upbringing, among other things, are included as cultural products. Ans: F Page: 123 14. In China, business behaviors revolve around guanxi, or personal relations. Ans: T Page: 123 15. A folktale is a completely fictional narrative. Ans: T Page: 124 16. Life-directing attitudes that serve as behavioral guidelines are known as beliefs. Ans: F Page: 124 31
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17. A saga is a system of several rites connected with a single occasion or event. Ans: F Page: 124 18. Linkages between a firm’s culture and strategies often determine success. Ans: T Page: 125 19. In Korea, activities involve concern for guanxi, or personal relations. Ans: F Page: 125 20. It is generally true that the farther north on the continent of Europe, the more participatory the management style. Ans: T
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chapter04 - CHAPTER 4 The Internal Assessment True/False...

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