Quiz on Management Concepts

What is one of the risks listed in Papa John's annual report of 2012?

• Changes in weather patterns

• Decrease in consumer preferences

• Changes in consumer preferences or discretionary consumer spending could adversely impact our results

• Increase in employee benefits

According to Vroom's expectancy theory, what does 'instrumentality' refer to?

• The likelihood of success in achieving a goal

• The reward for achieving the goal

• The value of the reward

• The effort put towards achieving a goal

What is one of the steps in the generalized model of BPM suggested by Seppanen, Kumar, and Chandra (2005)?

• Develop a marketing strategy

• Analyze the collected data

• Hire external consultants

• Implement financial controls

Why is the internal environment important in the COSO ERM framework?

• It defines the legal framework for risk assessment

• It establishes the marketing strategy for the organization

• It determines the financial budget for risk management

• It sets the basis for how risk is viewed and addressed by an entity's people

What is the estimated global fraud loss according to the Association of Certified Fraud Examiners?

• $4.5 trillion

• $3.5 trillion

• $2.5 trillion

• $1.5 trillion

Which of the following is NOT an element of COSO's enterprise risk management framework?

• Fraud detection

• Monitoring

• Objective setting

• Control activities

In business process management, what is the first step that decision makers must take?

• Analyzing collected data

• Optimizing the process

• Monitoring process improvements

• Defining process boundaries

Which statement best exemplifies one of the principles of BPM?

• This project should be quick and easy; we can wait and let everyone know about it when we're done.

• We'll need to select the BPM team carefully.

• Let's develop a proposal, then inform the CFO.

• First, we need to think about the software we're going to use.

Which element of expectancy theory is described in the scenario where Ethan believes the company's new general ledger software is too complex to master?

• Motivation

• Instrumentality

• Valence

• Expectancy

Which of the following tools would best be used to collect useful data in a BPM project?

• Journal entries

• Interviews

• Financial statements

• Expectancy theory