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A50. An outcome of a Failure Mode and Effects Analysis (FMEA) within an organization, can include a) Effects and their causes b) Documentation of current controls within the organization c) Documentation of some controls outside the organization d) (a) & (b) e) (a) & (C) A51. The Balanced Score Card (BSC) approach is about a) Assessing the performance of an organization using a balanced principle of finance b) Using metrics of performance related to learning and growth and finance c) Using metrics of performance related to internal business processes, customers and finance d) Using metrics of performance related to learning and growth, internal business processes, customers and finance A52. A Business plan can involve both the ESC and the BSC methods of analyses. Is this statement True or False? a) True b) False A53. Assess the following statement as true or false: The bargaining power of buyers will be high if Switching costs are low. a) True b) False A54. In Finance, the Net Present Value (NPV) can be used for a) Increasing the wealth of the share holder b) Assessing the worth of an asset c) Assessing the present value of net cash flows with the rate of return d) Assessing the liabilities of an organization for investment purposes A55. Which of the following is indicative of dysfunctional behaviour in the work place? a) Tardiness Low employee turnover High employee turnover (a) & (b) (a) & (C) d) e) A56. In organizational structures, which of the following is an advantage in a Matrix structure? a) b) c) d) Flexible use of human resources Effective Time management All of the above None of the above A57. Which of the following is a characteristic of an Egocentric Leadership style? a) b) Humility Collaborates Shares Knowledge Sees Knowledge as power d) A58. What is the definition of Risk? a) b) c) d) A possible situation that is not planned but can change the planned result A situation that is planned for but the outcome is unknown A situation that is planned for but the outcome is known All of the above A59. What are the four actions needed to be done for continuous improvement? Observe, Think, Act, Re-act b) Plan, Do, Check (Study) and Act Initiate, Review, Perform, Panic d) Act, React, Revise, Revise again A60. What is the benefit of risk management? a) b) c) d) Greater management flexibility Controlling risks and financial and human resource costs Increase in a company's share price To find mitigations or avoid risks before they occur and thus reduce the financial losses. Furthermore, to evaluate if a decision is worth it A61. What problem does cognitive bias cause for decisions? a) Poor Outcome of the decision b) Management gridlock c) Financial costs to the management d) Ill-timed decisions A62. Who should best lead a Failure Mode and Effects Analysis (FMEA) in a manufacturing organization? a) The CEO b) The bottom placed team on the AFL ladder, because of their consistent failure to win AFL games c) Moderator experienced in FMEA d) An employee who consistently fails tasks at work A63. Which of the following are reasonable Key Performance Indicators (KPIs) for a manufacturing organization? a) b) c) d) e) Cycle time Quality Rejection rate Machine availability All of the above A64. In the Balanced Score Card Approach, the Learning and Growth score can be measured by a) b) Monitoring people's skills Measuring how systems are enhanced All of the above Measuring the intellectual capacity of its staff d) A65. A Business Plan is an important strategic tool because a) b) A clear & succinct plan is described for the organisation Actions can be assessed against stated strategies It serves as a control tool to assess organisational performance All of the above None of the above d) e)