Efficiency MIS Metrics Focus on the Extent to Which a Firm

question 48

Multiple Choice

Efficiency MIS metrics focus on the extent to which a firm is using its resources in an optimal way,while effectiveness MIS metrics focus on _________.

• A) understanding how successful a firm is at achieving its goals and objectives
• B) analyzing if a firm is doing the right things
• C) setting the right goals and ensuring they are accomplished
• D) all of these choices

Understand the role of organizational culture in implementing effective change.

Appreciate the importance of differentiating between standardization and localization in global business operations.

Recognize the significance of socialization processes in organizational culture.

Understand the impact of organizational culture on employees' attitudes and behaviors.

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Definitions:

Absorption Costing

This accounting practice involves adding all costs associated with production, including direct materials, labor, and both kinds of overhead expenses (variable and fixed), into the cost calculation of a product.

Unit Product Cost

The total cost (fixed and variable) associated with making one unit of product.

Fixed Manufacturing Overhead

Costs associated with the production process that do not vary with the level of output, such as salaries of managers or rent of the factory building.

Inventories

Materials, work in progress (WIP), and finished goods held by a company to enable production and meet customer demand.