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Free CMA Exam Braindumps

View Related Case Study

A firm's statement of broad objectives or mission statement should accomplish all of the following except?

  1. Outlining strategies for technological development, market expansion, and product differentiation.
  2. Defining the purpose of the company.
  3. Providing an overall guide to those in high-level, decision-making position.
  4. Stating the moral and ethical principles that guide the action of the firm.

Answer(s): A

Explanation:

The determination of organizational objectives is the first step in the planning process. A mission statement is a formal, written document that defines the organization's purpose in society, for example, to produce and distribute certain goods of high quality in a manner beneficial to the public, employees, shareholders, and other constituencies. Thus, a mission statement does not announce specific operating plans. It does not describe strategies for technological development, market expansion, or product differentiation because these are tasks for operating management.



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Policies and procedures provide guidance to management and employees. Would policies and procedures normally be found for the senior management of a multinational organization?

  1. Yes, all policies and procedures are developed by senior management.
  2. No, senior management develops policies and procedures for lower levels only.
  3. Yes, policies and procedures are used throughout an organization's ranks.
  4. No, only middle managers and below develop and use policies and procedures.

Answer(s): C

Explanation:

Research has shown that policies and procedures are referred to by all levels of management on an as-needed basis.



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The management of an organization has stated that two members of the same family may not be employed in the same department. Identify the component of organization planning that is being demonstrated by management's action.

  1. A strategy
  2. A policy
  3. An objective
  4. A mission statement.

Answer(s): B

Explanation:

Top management establishes policies as guides to middle- and lower-management decision making. Policies are relatively broad guidelines for making routine decisions consistent with overall objectives or goals. They channel thinking in a certain direction but allow for some managerial discretion.



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Formal written policies are normally recommended. However, the presence of certain condition in an organization minimizes the need for written policies. One condition that minimizes the need for written policies is a?

  1. High division of labor
  2. Strong organizational culture.
  3. Large span of control.
  4. Strict unity of command.

Answer(s): B

Explanation:

If the culture is strong, the organization's key values are intensely held and widely shared. Substantial training has been expended to achieve this high degree of acceptance, minimizing the need for formal, written policies.






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