12. Multiple choice questions. 1. In business process management, decision makers must collect and analyze data. Which of the following tools would hest be used to collect useful data? a. Journal entries b. Interviews c. Financial statements d. Expectancy theory 2. Employees of BRN Corporation are trying to convince the CEO of the importance of enterprise risk management. The CEO comments: "I can't really support this idea. Too many organizations develop ERM plans, then put them on the shelf instead of implementing them. "Which element of expectancy theory is reducing the CEO's motivation? a. Expectancy b. Valence c. Instrumentality d. Motivation 3. The first step in business process management is to select the process and define its bounda:ries. Which of the following is the best defined process within the context of BPM? a. Selling assets b. Posting journal entries to the ledger c. Purchasing inventory d. Financing operations 4. Which of the following is a key idea in both business process management and enterprise risk management? a. Defining the boundary b. Accepting things as they are c. Increasing efficiency d. Involving company executives 5. Which of the following statements best exemplifies one of the principles of BPM? a. First, we need to think about the software we're going to use. b. Let's develop a proposal, then inform the CFO. c. We'll need to select the BPM team carefully. d. This project should be quick and easy; we can wait and let everyone know about it when we're done. 13. Statement evaluation. Please indicate whether each of the following statements is (i) always true, (ii) sometimes true or (iii) never true. For those that are sometimes true, explain when/under what circumstances they are. a. Accountants are in the best position to determine reward valence. b. Both BPM and ERM require strong support from top management to be successful. c. Both the COSO internal control and ERM frameworks include monitoring. d. BPM projects result in lower costs because they use information technology strategically. e. Companies should avoid external consultants at all costs in BPM projects. f. Cost variance analysis can be used to analyze data in BPM. g. In developing an ERM plan, managers should always attempt to reduce risk. h. Production workers are in the best position to add value to a BPM project. i. The COSO ERM framework is the only viable way of managing risk. j. Vroom explained that human motivation depends on three factors