Strategic Management and Policy

PRACTICE SIMULATION QUIZ#2: The actual quiz is an open-book on-line quiz. You will need a calculator to take the quiz, as many of the questions involve calculations. It has a time limit of 105 minutes, and checks if players understand what the numbers in the company reports mean and how they are calculated. To do well on Quiz#2, students must have read the HELP screens to be sure they understand where all the numbers are coming from, how costs are allocated, and how to use the information to good advantage. The simulation website says this about Quiz#2: “This ‘open book’ 20-question multiple choice quiz aims at testing your understanding and grasp of the Company Reports, the information on page 5 of the Footwear Industry Report, and exchange rate adjustments. The purpose of the quiz is to push you to gain a strong grasp of your company’s revenue- cost-profit economics (the more you understand the company’s business—in terms of how the numbers are calculated and what they mean, the better prepared you are to make solid decisions). Prior to taking Quiz 2, be sure to print the “?/Help” screens for • page 5 of the Footwear Industry Report (this Help screen has all the financial ratio formulas and explains how the credit rating measures are calculated—7 of the 20 quiz questions involve the various financial ratios and credit rating measures), • the Plant Operations Report, • the Branded Sales Report, • the Private-Label Sales Report, • the Marketing and Admin report, and • the financial statements (Income Statement, Balance Sheet, and Cash Flow). Most all of the quiz questions pertain to the information on the Help screens for these reports. It is unlikely that you will score well on Quiz 2 without having printouts of these ?/Help screens in front of you when you take the quiz. You might also want to have a copy of the Player’s Guide available for reference. “In preparing for Quiz 2, be sure you understand how costs are allocated between branded and private- label footwear—cost allocations are fully explained on the ?/Help screens for the Plant operations report, the Branded Sales report, the Private-Label report, and the Marketing and Admin Report. “Some questions on Quiz 2 will relate to the company’s Financial Statements (again the “?/Help” screens for these reports will be most informative and helpful), and 7 of the quiz questions will relate to page 5 of the FIR (particularly as concern the calculations of the three factors underlying the credit rating and the various ratios at the bottom of p.5 of the FIR). “You can also expect questions about exchange rate adjustments (which are explained in some detail on several “?/Help” screens, especially the one for Private-Label Sales). Three sample questions are provided below. “WARNING: Be sure to print the “?/Help” screens for page 5 of the Footwear Industry Report, the Plant Operations Report, the Branded Sales Report, the Private-Label Sales Report, the Marketing and Admin reports, and the Financial Statements before you start the quiz. Most of the quiz questions are taken directly from information on the Help screens for these reports. It will be extremely difficult for you to earn a respectable score on Quiz 2 without having printouts of these ?/Help screens in front of you when you take the quiz.” There are three sample questions online. After these three, I put 20 more practice questions for your review. They start on the next page.

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