Management Principals 6 Study Guide Questions And Correct Answers

Historic financial goals and objectives, even though financial outcomes are wide ranging in scope, are also purely historic. {Ans: False}Financial outcomes are often short-term in nature, so they omit other key factors that might be very important to the longer-term viability of the organization. {Ans: True}In MBO systems, goals and objectives are written down for each level of the organization. {Ans: True}Goals and objectives are a not a basis for reward systems. {Ans: False}When a scorecard is disseminated, strategy becomes a tool specifically for top management. {Ans: False}Goals and objectives are difficult to set up in the organizational context. Select among the reasons listed below the one that does NOT apply: {Ans: They are set by managers without the approval of employees}It is not only the top managers who set goals and objectives for the entire organization. {Ans: False}The role of goals and objectives are achieved only in the planning stage. {Ans: False}Kaplan and Norton's Balanced Scorecard, Accenture's Performance Prism, and Skandia's Intellectual Capital Navigator are examples of boilerplate versions of financial measurement. {Ans: True}Characteristics of the approach to setting and managing goals and objectives include which of the following?: