Technological Advances and the Ability to Access a Nationwide Market

question 56

Multiple Choice

Technological advances and the ability to access a nationwide market from one location allowed the growth of Industrial Loan Corporations (ILCs) during the 1990s and illustrate competitive risks of other FIs.Which of the following is true of ILCs?

• A)They can only operate within the state where they are established.
• B)They are regulated by the Federal Reserve.
• C)The deposits of ILCs are insured by the FDIC.
• D)ILCs are subsidiaries of traditional commercial banks.
• E)Oversight of ILCs is provided by the Office of the Comptroller of the Currency.

Recognize the application of Maslow's hierarchy of needs in organizational settings and employee motivation.

Understand the motivational challenges managers face and the strategies they can use.

Understand the distinction between Maslow's hierarchy of needs and other motivational models (e.g., McClelland's learned needs model, Herzberg's motivator-hygiene theory).

Know the process of motivation and the core phases involved in it.

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Definitions:

Responsibility Accounting

An accounting system that collects, summarizes, and reports financial information about different areas of responsibility within an organization.

Responsibility Centers

Divisions or units within an organization for which managers are accountable for certain activities or financial outcomes.

Management by Exception

A management strategy where only significant deviations from expected outcomes are addressed, focusing leaders' attention on the most important issues.

Responsibility Accounting

An accounting system that measures the results of each responsibility center and compares those results with some measure of expected or budgeted outcome.