Reference no: EM132203385
1. The longer a business plan extends into the future, the more likely it is to be changed or modified before it is put into effect. Therefore, which of the following statements is true?
a. It is not worthwhile for a business firm to plan more than a year ahead.
b. Plans for the distant future should provide for periodic reviews.
c. Planning should be done only by specialists who are experts at forecasting.
d. Planning should be preceded by budgeting.
e. None of the above.
2. To be reliable and valid, a personnel selection criterion must be
a. easy to use and cost-effective.
b. measurable and widely accepted.
c. consistent and relevant to the selection decision.
d. well understood by the candidate and legally determined to be fair.
e. none of the above.
3. A newspaper publisher uses roughly 890 feet of baling wire each day to secure bundles of newspapers while they are being distributed to carriers. The paper is published Monday through Saturday. Lead time is six workdays. What is the appropriate reorder point quantity, given that the company desires a service level of 95 percent, if that stockout risk for various levels of safety stock is as follows: 1,500 feet, .10; 1,800 feet, .05; 2,100 feet, .02; and 2,400 feet, .01?
4. Give an example of the implementation of the use of performance dimensions and framework in assessing the service value network of current global business activities.