Accounting
Anthropology
Archaeology
Art History
Banking
Biology & Life Science
Business
Business Communication
Business Development
Business Ethics
Business Law
Chemistry
Communication
Computer Science
Counseling
Criminal Law
Curriculum & Instruction
Design
Earth Science
Economic
Education
Engineering
Finance
History & Theory
Humanities
Human Resource
International Business
Investments & Securities
Journalism
Law
Management
Marketing
Medicine
Medicine & Health Science
Nursing
Philosophy
Physic
Psychology
Real Estate
Science
Social Science
Sociology
Special Education
Speech
Visual Arts
Management
Q:
U.S. laws define _____, as unlawful activities conducted by a highly organized, disciplined association for profit.
Q:
A company's broad "macro-environment" refers to
A. the industry and competitive arena in which the company operates.
B. general economic conditions plus the factors driving change in the markets being served.
C. all the strategically significant forces and factors outside a company's boundariesgeneral economic conditions, population demographics, societal values and lifestyles, technological factors, and governmental legislation and regulation.
D. the competitive market environment that exists between a company and its competitors.
E. the dominant economic features of a company's industry.
Q:
When the e-mails used in a phishing expedition are carefully designed to target a particular person or organization, the exploit is called _____.
Q:
Identify and briefly discuss at least two examples of faulty oversight by a company's board of directors in corporate governance and/or the strategy formulation, strategy execution process.
Q:
When the right to use a zombie farm is sold to an organizedcrime association that wants to launch a phishing attack, the attack is called a(n) _____.
Q:
Identify and briefly discuss at least three obligations of a company's board of directors in corporate governance and the strategy formulation, strategy execution process.
Q:
A single-business company has three levels of strategy. Name and describe each level.
Q:
_____ are created when a hacker plants zombie programs on a large number of computers.
Q:
Explain why a company's strategy is really a bundle of strategies.
Q:
In phishing, the collection of information is done by _____.
Q:
A _____ is a three- or four-digit number printed on a credit card, and is required for card not present transactions.
Q:
What are the two types of objectives included in the balanced scorecard?Define and provide five examples of each.
Q:
What is the meaning of the term "balanced scorecard"? What are the merits of using a balanced scorecard in judging a company's performance?
Q:
A(n) _____, also called a stored-value card, can store more than 100 times the amount of informationthat a magnetic strip plastic card can store.
Q:
_____ are cards that hold value that can be recharged by inserting them into the appropriate machines, inserting currency into the machine, and withdrawing the card; the card's strip stores the increased cash value.
Q:
What is the difference between a mission statement and a strategic vision?
Q:
In phishing, _____ use the collected information.
Q:
Explain why an organization needs a strategic vision. What purpose does a strategic vision serve?
Q:
Google Wallet, which uses the _____technology that MasterCard developed for its credit cards, is available for mobiledevices.
Q:
Define and briefly explain what is meant by each of the following terms:
a. strategic inflection point
b. strategic vision
c. strategic objective
d. strategic plan
e. balanced scorecard
Q:
What are the five stages of the strategy-making, strategy-executing process and what does each one involve?Answers may vary. The five stages are provided in the feedback.
Q:
Google Wallet,Microsoft Windows Live ID, and Yahoo! Wallet are examples of _____ digital wallets.
Q:
A(n) _____, serving a function similar to a physical wallet, holds credit card numbers, electronic cash, owner identification, and other owner contact information.
Q:
Which one of the following is not among the chief duties or responsibilities of a company's board of directors insofar as the strategy-making, strategy-executing process is concerned?A. Hire and fire senior-level executives and work with the company's chief strategic planning officer to improve the company's performance.B. Inquire about and exercise strong oversight over the company's direction, strategy, and business approaches.C. Evaluate the caliber of senior executives' strategy-making/strategy-executing skills.D. Institute a compensation plan for top executives that rewards them for actions and results that serve stakeholders' interests and most especially those of shareholders.E. Oversee the company's financial accounting and financial reporting practices.
Q:
The obligations of an investor-owned company's board of directors in the strategy-making, strategy-executing process include
A. coming up with compelling strategy proposals to debate against those put forward by top management.
B. taking the lead in formulating the company's strategic plan but then delegating the task of implementing and executing the strategic plan to the company's CEO and other senior executives.
C. taking the lead in developing the company's business model and strategic vision.
D. overseeing the company's financial accounting and financial reporting practices and evaluating the caliber of senior executives' strategy-making/strategy-executing skills.
E. approving the company's operating strategies, functional-area strategies, business strategy, and overall corporate strategy.
Q:
Near field communication chips embedded in mobile phones are called Osaifu-Keitai in Japan, which translates approximately to _____.
Q:
The primary roles/obligations of a company's board of directors in the strategy-making, strategy-executing process include
A. playing the lead role in forming the company's strategy and then directly supervising the efforts and actions of senior executives in implementing and executing the strategy.
B. providing guidance and counsel to the CEO in carrying out his or her duties as chief strategist and chief strategy implementer.
C. overseeing the company's financial accounting and reporting practices, evaluating the caliber of senior executives' strategy-making and strategy-executing skills, and instituting a compensation plan that rewards top executives for results that serve shareholder interests.
D. working closely with the CEO, senior executives, and the strategic planning staff to develop a strategic plan for the company.
E. reviewing and approving the company's business model, and reviewing and approving the proposals and recommendations of the CEO as to how to execute the business model.
Q:
When a bank buys accounts from another bank, it performs a series of procedures called _____, which include checking the new customers' credit histories and banking records.
Q:
Proficient strategy execution
A. is always the product of much organizational learning.
B. is achieved unevenly, coming quickly in some areas and more slowly in others.
C. entails vigilantly searching for ways to improve performance.
D. is an ongoing process, not an every-now-and-then task.
E. All of these choices are correct.
Q:
_____ can be accomplished by purchasing goods or services with ill-gotten electronic cash and selling them for physical cash on the open market.
Q:
A company's direction, objectives, and strategy
A. have to be revisited any time internal conditions warrant.
B. are never final as it is an ongoing process.
C. are not a now-and-then task.
D. have to be revisited whenever a firm encounters disruptive changes in its environment.
E. All of these choices are correct.
Q:
_____ is a technique used by criminals to convert money that they have obtained illegally into cash that they can spend without having it identified as the proceeds of an illegal activity.
Q:
_____ allows for contactless data transmission overshort distances and can also be used if a smartphone is equipped with a chip similar tothose that have been used on payment cards for anumber of years.
Q:
Management is obligated to monitor new external developments, evaluate the company's progress, and make corrective adjustments in order to
A. determine whether the company has a balanced scorecard for judging its performance.
B. decide whether to continue or change the company's strategic vision, objectives, strategy and/or strategy execution methods.
C. determine what changes should be made to its customer value proposition.
D. determine whether the company's business model is well matched to changing market and competitive circumstances.
E. stay on track in achieving the company's mission and strategic vision.
Q:
Which of the following is not among the principal managerial tasks associated with managing the strategy execution process?
A. ensuring that policies and procedures facilitate rather than impede effective execution
B. creating a company culture and work climate conducive to successful strategy implementation and execution
C. surveying employees on how employee job satisfaction can be improved
D. exerting the internal leadership needed to drive implementation forward
E. tying rewards and incentives directly to the achievement of performance objectives
Q:
_____ is a general term that describes any value storage and exchange system created by a private entity that does not use paper documents or coins and that can serve as a substitute for government-issued physical currency.
Q:
Operating strategies concern
A. what the firm's operating departments are doing to unify the company's functional and business strategies.
B. the specific plans for building competitive advantage in each major department and operating unit.
C. the relatively narrow strategic initiatives and approaches for managing key operating units within a business and for performing strategically significant operating tasks.
D. how best to carry out the company's corporate strategy.
E. how best to implement and execute the company's different business-level strategies.
Q:
_____ are fees charged by banks for providing payment card processing services to merchants.
Q:
To process payment cards for Internet transactions, an online merchant must set up a(n) _____ with an acquiring bank.
Q:
Functional strategies
A. unify the company's various operating-level strategies.
B. specify how to build and strengthen the skills, expertise, and competencies needed to execute operating-level strategies successfully.
C. support and add power to the corporate-level strategy.
D. add relevant detail to the "hows" of a company's business-level strategy and specify what resources are needed to put the strategy into action.
E. create the chief elements of the company's strategy map.
Q:
Functional strategies
A. specify what actions a company should take to resolve specific strategic issues and problems.
B. concern the actions, approaches, and practices related to particular functions or processes within a business.
C. are concerned with how to unify the firm's several different operating strategies into a cohesive whole.
D. are normally crafted by the company's CEO and other senior executives.
E. None of these are correct.
Q:
Visa and MasterCard are _____ that are operated by the banks which issue credit cards to individual customers.
Q:
_____ are responsible for evaluating their customers' creditstandings and establishing appropriate individual credit limits.
Q:
In a single-business company, the strategy-making hierarchy consists of
A. business strategy, divisional strategies, and departmental strategies.
B. business strategy, functional strategies, and operating strategies.
C. business strategy and operating strategy.
D. managerial strategy, business strategy, and divisional strategies.
E. corporate strategy, divisional strategies, and departmental strategies.
Q:
Business strategy concerns
A. strengthening the company's market position and building competitive advantage.
B. ensuring consistency in strategic approach among the businesses of a diversified company.
C. selecting a business model to use in pursuing business objectives.
D. selecting a set of financial and strategic objectives for a particular line of business.
E. choosing appropriate internal business processes for a specific line of business.
Q:
Prepaidcards sold with the intention that they be given as presents are called _____.
Q:
Corporate strategyA. is primarily concerned with strengthening a company's market position and building competitive advantage.B. is subject to being changed much less frequently than either a company's objectives or its mission statement.C. should be based on a flexible strategic vision and mission.D. ensures consistency in strategic approach among businesses of a diversified, multibusiness corporation.E. determines balanced scorecard financial and strategic objectives.
Q:
Businesspeople often use the term _____ as a general term to describe all types of plastic cards that consumers use to make purchases.
Q:
Crafting strategy requires
A. a collaborative effort that includes managers in various position at various organizational levels.
B. executive management involvement only.
C. participation by all employees.
D. a collaborative effort between the CEO and board members only.
E. All of these choices are correct.
Q:
With a(n) _____, a user can pay off the entire card balance or pay a minimum amount each billing period.
Q:
The task of stitching together a strategyA. entails addressing a series of "hows": how to grow the business, how to please customers, how to outcompete rivals, how to respond to changing market conditions, and how to achieve strategic and financial objectives.B. is primarily an exercise in deciding which of several freshly emerging market opportunities to pursue.C. should be dictated by what is comfortable to management from a risk perspective and what is acceptable in terms of capital requirements.D. requires trying to copy the strategies of industry leaders as closely as possible.E. is mainly an exercise in good planning.
Q:
A _____ can be used as a hardware-based digital wallet.a. database b. personal computerc. server d. smartphone
Q:
A company needs performance targets or objectives
A. for its operations as a whole and for each of its separate businesses, product lines, functional departments, and individual work units.
B. because they provide parameters for the company's strategy map.
C. to unify the company's strategic vision and business model.
D. to help guide managers in deciding what strategic path to take in the event that a strategic inflection point is encountered.
E. to prevent lower-level organizational units from establishing their own objectives.
Q:
_____ is a criminal act in which the perpetrator gathers personal information about a victim and then uses that information to obtain credit.a. Pharming b. Identity theftc. Due diligence d. Money laundering
Q:
The basic structure of a _____ involves a perpetrator who sends e-mail messagesto a large number of recipients who might have anaccount at a targeted Web site.a. due diligence process b. money laundering processc. phishing attack d. chargeback scheme
Q:
Company objectivesA. are needed only on a companywide basis related to a company's short-term and long-term profitability.B. need to be broken down into performance targets for each of its separate businesses, product lines, functional departments, and individual work units.C. play the important role of establishing the direction in which the company needs to be headed.D. are important because they help guide managers in deciding what the company's strategy map should look like.E. should be set in a manner that does not conflict with the performance targets of lower-level organizational units.
Q:
The delay that occurs between the time that a person writes a check and the time that check clears the person's bank is known as _____.a. load b. paybackc. prepayment d. float
Q:
Why should long-run objectives take precedence over short-run objectives?
A. The focus is placed on improving performance in the near term.
B. Long-run objectives are necessary for achieving long-term performance and stand as a barrier to undue focus on short-term results.
C. Long-run objectives will satisfy shareholder expectations for progress.
D. Long-run objectives will force the company to deliver performance improvement in the current period.
E. None of these are correct.
Q:
A balanced scorecard that includes both strategic and financial performance targets is a conceptually strong approach for judging a company's overall performance because
A. financial performance measures are lagging indicators that reflect the results of past decisions and organizational activities, whereas strategic performance measures are leading indicators of a company's future financial performance.
B. it entails putting equal emphasis on good strategy execution and good business model execution.
C. a balanced scorecard approach pushes managers to avoid setting objectives that reflect the results of past decisions and organizational activities, and, instead, to set objectives that will serve as leading indicators of a company's future financial performance.
D. it assists managers in putting roughly equal emphasis on short-term and long-term performance targets.
E. it more or less forces managers to put equal emphasis on financial and strategic objectives.
Q:
With a(n) _____, credit theft is much more difficult because the keyto unlock the encrypted information is a PIN.a. smart card b. debit cardc. credit card d. identification card
Q:
A _____ is a stored-value card with an embedded microchip that can store information.a. credit card b. debit cardc. charge card d. smart card
Q:
A balanced scorecard for measuring company performance
A. entails putting equal emphasis on financial and strategic objectives.
B. entails striking a balance between financial objectives and strategic objectives.
C. balances the drive for profits with social responsibility obligations.
D. prevents the drive for achieving strategic objectives from overwhelming the pursuit of financial objectives.
E. entails creating a set of financial objectives balanced among profitability measures and liquidity measures.
Q:
A _____ requires no download time or installation on a user's computer.a. server-side digital wallet b. client-side digital walletc. hardware-based digital wallet d. mobile-based digital wallet
Q:
Strategic objectives
A. are more essential in achieving a company's strategic vision than are financial objectives.
B. are generally less important than financial objectives.
C. are more difficult to achieve and harder to measure than financial objectives.
D. relate to strengthening a company's overall market standing and competitive vitality.
E. help managers track an organization's true progress better than do financial objectives.
Q:
A company needs financial objectives
A. to overtake key competitors on such important measures as net profit margins and return on investment.
B. because without adequate profitability and financial strength, the company's ultimate survival is jeopardized.
C. to indicate to employees that financial objectives always take precedence over strategic objectives.
D. to convince shareholders that top management is acting in their interests.
E. to translate the company's business model into action items.
Q:
A _____ stores information on a customer's computer.a. server-side digital wallet b. client-side digital walletc. hardware-based digital wallet d. mobile-based digital wallet
Q:
The managerial purpose of setting objectives includes
A. converting the strategic vision into specific performance targets.
B. using the objectives as yardsticks for tracking the company's progress and performance.
C. challenging the organization to perform at its full potential and deliver the best possible results.
D. establishing deadlines for achieving performance results.
E. All of these choices are correct.
Q:
_____ is spending a particular piece of electronic cash twice by submitting the same electronic currency to two different vendors.a. Double spending b. Blind signingc. Money laundering d. Spear phishing
Q:
Anonymous digital cash is digital cash that cannot be:a. handled by a trusted third party. b. held in online storage systems.c. traced back to the person who spent it. d. served as a substitute for government-issued physical currency.
Q:
A company's values relate to such things as
A. how it will balance its pursuit of financial objectives against the pursuit of its strategic objectives.
B. how it will balance the pursuit of its business purpose/mission against the pursuit of its strategic vision.
C. fair treatment, integrity, ethical behavior, innovativeness, teamwork, top-notch quality, superior customer service, social responsibility, and community citizenship.
D. whether it will emphasize stock price appreciation or higher dividend payments to shareholders, and whether it will put more emphasis on the achievement of short-term performance targets or long-range performance targets.
E. All of these choices are correct.
Q:
A company's values concernA. whether and to what extent it intends to operate in an ethical and socially responsible manner.B. how aggressively it will seek to maximize profits and enforce high ethical standards.C. the beliefs and operating principles built into the company's "balanced scorecard" for measuring performance.D. the beliefs, traits, and behavioral norms that company personnel are expected to display in conducting the company's business and pursuing its strategic vision and mission.E. the beliefs, principles, and ethical standards that are incorporated into the company's strategic intent and business model.
Q:
A _____ obtains authorization for a payment card transaction by sending the transaction's details to the interchange network and storing a record of the approval or denial.a. back-end processor b. front-end processorc. server-side digital wallet d. client-side digital wallet
Q:
The difference between the concept of a company mission statement and the concept of a strategic vision is that
A. a mission statement typically concerns a company's present business scope ("who we are and what we do"), whereas the principal concern of a strategic vision is with the company's future business scope (long-term direction and future product-customer-market-technology focus).
B. the mission is to make a profit, whereas a strategic vision concerns how to attract customers.
C. a mission statement deals with what to accomplish on behalf of shareholders and a strategic vision concerns what to accomplish on behalf of customers.
D. a mission statement concerns what to do to achieve short-run objectives and a strategic vision concerns what to do to achieve long-run performance targets.
E. a mission statement deals with "where we are headed," whereas a strategic vision provides the critical answer to "how will we get there."
Q:
Some online merchants accept direct deductions fromcustomers' checking accounts which are done througha network of banks called the _____.a. Automated Cash Holding b. acquiring banksc. Automated Clearing House d. issuing banks
Q:
In the context of fees deducted by acquiring banks, _____ are charged at rates which depend on the merchant's industry.a. acquirer fees b. interchange feesc. chargeback fees d. interest fees
Q:
Ideally, a company's mission statement should be sufficiently descriptive and include which of the following?
A. Identify the company's services and products to give the company its own identity.
B. Relate to the buyer's needs that the company seeks to satisfy.
C. Identify the customer or market that the company intends to serve.
D. Specify the approach taken by the company to satisfy its customer's needs.
E. All of these choices are correct.
Q:
When a cardholder successfully contests a charge, the acquiring bank must retrieve the money it placed in the merchant account in a process called a _____.a. click-through b. chargebackc. dispute d. recharge
Q:
A company's mission statement typically addresses which of the following questions?
A. Who are we? What do we do? and Why are we here?
B. What objectives and level of performance do we want to achieve?
C. Where are we going and what should our strategy be?
D. What approach should we take to achieve sustainable competitive advantage?
E. Why have we chosen a particular business model to achieve our objectives and our vision?
Q:
A(n) _____ is a bank that does business with sellers that want to accept payment cards.a. issuing bank b. acquiring bankc. mortgage bank d. advising bank
Q:
The benefit of a vivid, engaging, and convincing strategic vision is
A. its ability to crystallize top management's own view about the company's long-term direction.
B. it reduces the risk of rudderless decision making by managers at all levels of the organization.
C. it helps an organization prepare for the future.
D. its ability to unite company personnel behind managerial efforts to get the company moving in the intended direction.
E. All of these are important benefits of an effective strategic vision.