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Question
Briefly describe the problems that can result from agency and what steps can be taken to resolve them.
Answer
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Related questions
Q:
(p. 81) Managers who subscribe to the ______ approach judge whether decisions and actions are in keeping with the maintenance of fundamental individual and group rights and privileges.
A. Utilitarian
B. Social justice
C. Economic man
D. Moral rights
Q:
(p. 72) Which of these is a social challenge that will demand attention for years to come?
A. Competitive environment
B. Police brutality
C. Corporate profitability
D. Substandard education
Q:
(p. 70) With regards to CSR business have all of these support options except:
A. Donation of cash or material
B. Creation of a functional operation within the company to assist explained charitable efforts
C. Development of a collaborative approach
D. Outsource the function to a competitor
Q:
(p. 71) A form of engagement in which companies provide on going and sustained commitments to a social project or issue refers to
A. CSI
B. CSR
C. Social audit
D. Economic responsibilities
Q:
(p.67-68) Which of these is NOT true about social audit?
A. Given the availability of complete information and programs, to be comprehensive and accepted by the general public, a social audit must be conducted by the company itself
B. A social audit attempts to measure a company's actual social performance against the social objectives it had set for itself
C. The social audit may be used for more than simply monitoring and evaluating firm social performance
D. Once the social audit is complete, it may be distributed both internally and externally
Q:
Who are the board of directors? What are their major responsibilities?
Q:
(p. 38) Agency problems arise when the interests of owners and managers
A. diverge
B. converge
C. are compatible
D. are similar
Q:
(p. 38) _______ delegate authority to ______
A. owners; managers
B. managers; owners
C. managers; suppliers
D. customers; managers
Q:
(p. 38) A set of ideas on organizational control based on the belief that the separation of the ownership from management creates the potential for the wishes of owners to be ignored refers to the
A. Agency theory
B. Adverse selection principle
C. Moral hazard problem
D. Self concept
Q:
(p. 36) In overseeing the management of a firm, the board of directors operates as representatives of the
A. Governmental agencies
B. Firms stockholders
C. Firms employees
D. Top management
Q:
(p. 34) _______ is often a single sentence, designed to be memorable. A. Mission statement
B. Agency theory
C. Adverse selection
D. Vision statement
Q:
(p. 34) Which of these is one of Demming's well-known points on quality?
A. Create dependence on mass inspections to achieve quality
B. Award business on the measure of price tag
C. Breakdown barriers between departments
D. Corporate transformation should be the responsibility of top management
Q:
(p. 33) "The customer is our top priority" is a
A. Mission statement
B. Concern for quality
C. Slogan
D. Vision statement
Q:
(p. 30) Which of the following statements about public image is FALSE?
A. Negative public image often prompts firms to reemphasize the beneficial aspects of their mission
B. The image the company seeks to project should be reflected in its mission
C. Firms always address the question of their public image in an intermittent fashion
D. Concern for public image is an important components of a firm's mission
Q:
(p. 28) Given that managers implicitly accept a general, unwritten, yet pervasive code of behavior that govern business actions, the _____ vary little from one firm to another.
A. Philosophies
B. Visions
C. Missions
D. Self-concepts
Q:
(p. 24) In deriving a mission statement, which of the following should be included?
A. Tax advantages
B. Secondary markets to be served
C. Concern for survival through growth
D. Employee rules and policies
Q:
(p. 24) Which one of the following is NOT an outcome designed to be accomplished by a company mission?
A. To provide a unifying purpose for the organization
B. To provide a basis for strategic objective setting
C. To provide a basis for decision making
D. To reward stockholders
Q:
(p. 23) The mission statement is a message designed to be inclusive of the expectations of _______ stakeholders for the company's performance over the ______.
A. All; long run
B. Only key; short run
C. All; short run
D. Only key; long run
Q:
(p. 23) The mission reflects the:
A. Values of the decision makers
B. Goals of the decision makers
C. Experiences of the decision makers
D. Policies of firm
Q:
(p. 104) If price ceilings exist, substitute products are limited, unless:
A. The quality of the product can be reduced
B. The quality of the product can be upgraded
C. The quantities of the product available can be increased
D. The product can not be differentiated
Q:
(p. 103) Highly profitable buyers are usually:
A. Less price sensitive
B. More price sensitive
C. Very quantity oriented
D. Not very quantity oriented
Q:
(p. 102) Suppliers can exert bargaining power on participants in an industry by:
A. Stabilizing their cost bas
B. Lowering prices
C. Raising prices
D. Increasing the quality of services
Q:
(p. 100-102) Which of the following is NOT a major barrier to entry?
A. Economies of scale
B. Product differentiation
C. Market breadth
D. Cost disadvantages independent of size
Q:
(p. 102) Differentiation of inputs represents a determinant of
A. Entry
B. Rivalry
C. Buyer power
D. Supplier power
Q:
(p. 96) Which of these is NOT an example of a federal ecological legislation?
A. Air Quality Act
B. Refuse Act
C. Occupational Safety and Health Act
D. Resource Recovery Act
Q:
(p. 93) The term ______ refers to the relationships among human beings and other living things and the air, soil and water that supports them.
A. Pollution
B. Ecology
C. Operating environment
D. Remote environment
Q:
(p. 93) The quasi-science of anticipating environmental and competitive changes and estimating their importance to an organizations operation refers to
A. Technological forecasting
B. Ecology
C. Industry environment
D. Operating environment
Q:
(p. 90) Encompassed in political considerations is/are:
A. Social values
B. Disposable income
C. Anti-trust laws
D. Age distribution
Q:
(p. 65) The most significant change in the restructuring of governance structure due to the Sarbanes-Oxley Act is the
A. Elimination of the external board members
B. Heightened role of corporate internal auditors
C. Removal of CFO from any overseeing role related to final financial statements
D. Creation of inside corporate accountants reporting to external accounting firms
Q:
(p. 62) Which law revised and strengthened auditing and accounting standards?
A. Federal Fair Packaging and Labeling Act
B. Sarbanes-Oxley Act
C. Truth in Lending Act
D. National Environmental Policy Act