Exam 1 - Analysis

Which of the following is a macroeconomic factor that can affect a firm's strategy? power of suppliers levels of employment threat of substitutes power of buyers

levels of employment

Which of the following strategy plans might work best in an industry that is considered a fast-changing environment with new laws going into effect regularly? bottom-up planning top-down planning scenario planning dominant planning

scenario planning

ow does a sustainable strategy typically help a firm? Multiple Choice It helps the firm achieve positive results along the social and ecological dimensions. It facilitates the firm in effectively isolating its external stakeholders. It helps the firm focus solely on its financial goals. It reduces the need for corporate social responsibility within the firm.

It helps the firm achieve positive results along the social and ecological dimensions.

A firm's resource-allocation process (RAP) has very little effect on its realized strategy. True False

False

A good strategy is a set of actions that enables a firm to achieve its own internal goals without regard to the external environment. True False

False

A manager's only responsibility is to monitor and assess the performance of his or her firm. True False

False

A strategy that has provided competitive advantages in the past will most likely do so in the future. True False

False

A firm is required by society and its shareholders to meet its ethical and philanthropic responsibilities. True False

False

Accounting, human resources, and research and development (R&D) are examples of primary activities that add value directly to the value chain. True False

False

As a rule of thumb, the stronger the five forces, the higher the industry's profit potential, which causes the industry to become less attractive for competitors. True False

False

________ precisely indicates how much of a firm's sales is converted into profits. Inventory turnover Break-even price Return on revenue Working capital turnover

Return on revenue

An employee lacking some of the innate abilities to be a top-level manager can still become an effective strategic leader through hard work and experience. True False

True

Because competitors in oligopolistic industries are so interdependent, it is especially important for managers in those firms to monitor and respond to changes their competitors make. True False

True

The core competencies of a firm are determined by the interplay of its tangible resources and intangible capabilities. True False

True

Both UTech Inc. and Mirco Corp. incur a cost of $200 to manufacture a single unit of a cell phone. However, UTech Inc. charges a higher price than Mirco Corp. does, but it still sells a higher number of phones. What does this imply? UTech Inc. creates more economic value than Mirco Corp. does. Mirco Corp. is not charging enough for its product. UTech Inc. and Mirco Corp. have achieved a competitive parity. Mirco Corp. has a competitive advantage over UTech Inc.

UTech Inc. creates more economic value than Mirco Corp. does.

Which of the following tasks in the AFI strategy framework involves evaluating the internal and external environments in which a firm operates? implementation competitive advantage analysis formulation

analysis

While creating its AFI strategy framework, Gordon's Consultants decided what markets the firm should compete in. By doing this, what type of strategy did the company devise? Multiple Choice corporate strategy ethical strategy global strategy business strategy

corporate strategy

he goal of a good strategy is focused primarily on Multiple Choice creating superior value while containing costs employing lean manufacturing and Six Sigma. making as much money as possible. encouraging investors to buy more shares of the firm.

creating superior value while containing costs

The first step to gain and sustain a competitive advantage is to: put the guiding policies of a firm into practice. define a firm's vision, mission, and values. develop functional and business-level strategies. understand the strategies of the competitors.

define a firm's vision, mission, and values.

Dontechi is a file hosting service that allows users to store up to 5GB of data with no restrictions or charges. However, users have to pay a fee for advanced features on the cloud storage system and additional storage space. Which of the following business models does this best illustrate? razor-razor-blade pay-as-you-go subscription-based freemium

freemium

Economies of scale are cost advantages that accrue for firms with high capital risks. larger output. high fixed costs. low employee turnover.

larger output.

Firms that compete within the same strategic group generally experience no competitive rivalry because they are substitutes. the same competitive rivalry than firms outside their strategic group. less competitive rivalry than firms outside their strategic group. more competitive rivalry than firms outside their strategic group.

more competitive rivalry than firms outside their strategic group.

A positive relationship between vision statements and firm performance is more likely to exist when organizational structures are aligned with the firm's vision statement. vision statements are equivalent to listening to the customers. internal stakeholders are isolated from defining and revising the visions. visions are product-oriented.

organizational structures are aligned with the firm's vision statement

Through ________, a firm puts its guiding policy into practice by employing a set of coherent actions. Multiple Choice strategy control strategy implementation strategy analysis strategy formulation

strategy implementation

Strategic leaders spend the majority of their time working alone to devise new strategies. True False

False

Which of the following below are not one of the three dimensions that make up the Triple Bottom Line framework? economic value creation shareholder wealth creation accounting profitability None of the answers are correct.

None of the answers are correct.

The interaction between a firm and its diverse internal and external stakeholders is best described as a(n) fiduciary responsibility cartel arrangement. exchange relationship ergonomic relationship.

exchange relationship

Contour Inc., a vendor, regularly supplies capacitors to All Purpose Electronics for use in its products. Therefore, Contour Inc. is All Purpose Electronics' director. internal stakeholder. shareholder. external stakeholder.

external stakeholder.

John is a bit confused about the difference between stakeholders and stockholders. You meet with John and inform him that the main difference is that stakeholders are external to the firm while stockholders are considered internal to the firm. stakeholders are both internal and external to the firm while stockholders are considered external to the firm. stakeholders can be both internal and external while stockholders own shares of a firm and are classified as internal to the firm. stakeholders are considered internal to the firm while stockholders are external to the firm.

stakeholders can be both internal and external while stockholders own shares of a firm and are classified as internal to the firm.

Buzztronic is a market leader in consumer electronics. If Ficolee and Ficola, companies that manufacture televisions, develop the same customer knowledge base and create products with the same customer appeal as Buzztronic, then Buzztronic will have a sustainable competitive advantage in the industry. Ficolee and Ficola will have a VRIO resource. Buzztronic will have a resource that is valuable but no longer rare. Buzztronic will have a resource that is rare but no longer valuable.

Buzztronic will have a resource that is valuable but no longer rare.

Tony's Pizza Shop is able to net $10,000 a week; this makes his shop profitable. His number one competitor, Leo's Pies is also profitable, netting $12,000 a week. Lil Anthony's Pizza Palace nets $13,000 a week. Since Tony's Pizza Shop is profitable, we can conclude that he has a competitive advantage in the industry. False—Tony more than likely has a sustained competitive advantage since he's been in business longer. True—competitive advantage is achieved through profitability alone. True—competitive advantage is achieved since Tony has a positive net income. False—competitive advantage is only achieved by generating above average returns, relative to competition.

False—competitive advantage is only achieved by generating above average returns, relative to competition.

How do low interest rates affect a business? Firms tend to defer investments until rates rise. Firms can easily borrow money to finance future growth. Business credit is harder to obtain.

Firms can easily borrow money to finance future growth.

Sugar Flakes and Cinnamon Texas Toast both produce similar puffed rice breakfast cereals. For both companies, the cost of producing a box of cereal is 45 cents, and it is not possible for either company to lower their production costs any further. How can one company achieve a competitive advantage over the other? Increase total perceived consumer benefits through differentiation. Raise prices above the current reservation price. Lower prices to the break-even price. Increase the number of stock market shares available to investors.

Increase total perceived consumer benefits through differentiation.

Corporate executives at Fly High Inc. decide to compete in the remote model airplane industry by making the largest model planes available. By doing this, they completed part of their ________ strategy. functional corporate implementation business

business

Susan is trying to determine if her company has a competitive advantage. She must be able to accomplish two critical tasks before she can substantiate this claim. First, she must assess the performance of her company accurately; second, she must focus on creating value by utilizing operational effectiveness such as Six Sigma and lean manufacturing. compare and benchmark her firm's performance to other competitors in her same industry. assess her capital and liquid position to ensure funding for future projects. ensure the right strategic leaders are in place that can execute her strategy.

compare and benchmark her firm's performance to other competitors in her same industry.

In a firm's external environment, ________ trends primarily capture population characteristics related to age, gender, family size, ethnicity, sexual orientation, religion, and socioeconomic class. economic ecological political demographic

demographic

Maria and Tom both serve as SBU managers of their divisions. They have both been asked by the CEO to generate two different courses of action for a new product launch. This strategic decision-making technique can be described as dialectic inquiry. strategic intent. devil's advocacy decision framework. group think.

dialectic inquiry.

Under the ________ framework, producer surplus is important in the quest for competitive advantage because this is the profit that a firm captures when producing and selling a good or service. accounting profitability economic value creation PESTEL shareholder value creation

economic value creation

Facing stiff competition in the e-reader market, Smart Reads wants to protect its competitive advantage by increasing the perceived value of its reader. Smart Reads' best strategy to accomplish this would be to try to imitate some of the features found in competing products. highlight the number of celebrities who use Smart Reads e-readers. lower the retail price of its e-reader to attract new customers. increase the cost of production to add innovative new features.

highlight the number of celebrities who use Smart Reads e-readers.

The balanced-scorecard framework is a tool for strategy ________, not ________. implementation; formulation analysis; sustainability formulation, implementation sustainability, economic value creation

implementation; formulation

Strategic commitments are actions that are inexpensive. easy to reverse. long-term-oriented. easy to imitate.

long-term-oriented.

Amazon.com's network of distribution centers allow it to drastically reduce its delivery times compared to other online retailers. These distribution centers are examples of Amazon's tangible resources. core competency. intangible resources. capabilities.

tangible resources.

The types of assets that are the primary focus of accounting data but are no longer most important to competitive advantage are organizational culture. tangible. market brand value. intangible.

tangible.

Which of the following will most likely be considered as an airlines core competency? the airline's ability to make its fleet more fuel efficient than their competitors the airline's ability to manufacture planes at a cost that is average in the industry the airline's ability to partner at the same airports as their competitors the airline's ability to navigate federal laws just like its competitors

the airline's ability to make its fleet more fuel efficient than their competitors

A firm's strategic position is likely to be strong when the gap between the value the firm's product generates and the cost to produce it is large. all the five forces in Porter's model are strong. its suppliers and vendors can easily forward-integrate and buyers can backward-integrate. the entry barriers within the industry it operates in are low and the exit barriers are high.

the gap between the value the firm's product generates and the cost to produce it is large.

The management of a company is assessing the value of all the tangible resources the company owns. Which of the following will be included in this assessment? a reputation for fast customer service the punch presses that produce parts a culture of proactive communication patents for electronic components

the punch presses that produce parts

After trying on a dress, a consumer assesses it to be worth a maximum of $100 and is willing to pay that amount for the dress. However, the dress was priced at $80. What is the amount, $100, referred to as? the producer surplus the consumer surplus the value (V) the consumer attaches to the dress the firm's cost (C) in manufacturing the dress

the value (V) the consumer attaches to the dress

The internet service provider industry in the country of Wakanda is an industry characterized by the presence of strong network effects, high brand loyalty, high economies of scale, and proprietary technology among incumbent firms. Thus, in the internet service provider industry, the threat of substitutes is most likely high. threat of new entrants is most likely low. entry barriers are most likely nonexistent. bargaining power of buyers is most likely low.

threat of new entrants is most likely low.

When the value that a customer attaches to a good or service exceeds the price paid for the good or service, this is a consumer surplus. True False

True

Which of the following is NOT considered an important macro-environmental influence on businesses (that is, a potential influence beyond that of the industry alone)? political changes technological factors bargaining power of suppliers economic factors

bargaining power of suppliers

As manager of a relatively new company, you are tasked with analyzing company resources to identify core competencies capable of supporting a competitive advantage. Which of the following resources is most likely to generate a competitive advantage? stockpile of supplies enthusiastic company culture large cash holdings new production facilities

enthusiastic company culture

Given the accelerated pace of technological change, in combination with deregulation, globalization, and demographic shifts, a firm will be successful today only if its internal strengths change with its external environment in a dynamic fashion. competitive advantage is derived from static resource or market advantages. resource advantage is maintained for a short period of time. resource advantage is not causally ambiguous or socially complex.

internal strengths change with its external environment in a dynamic fashion

According to Porter's Five Forces approach, the overall goal of applying the Five Forces analysis to an industry is to make a judgment about its future volatility. market share. overall attractiveness. revenue streams.

overall attractiveness.

Bob is exploring multiple suppliers in order to find the best price. However, instead of calling all eight potential suppliers, he only reaches out to the first three and bases his selection on those instead of contacting all suppliers. Bob's action best describes the concept of optimal decision making. escalating commitment. satisficing. the illusion of control.

satisficing.

As the legal owners, ________ have the most legitimate claim on a company's profits. creditors employees board members shareholders

shareholders

Which of the following summarizes the difference between a firm's vision and mission? A vision states what a firm wants to accomplish; a mission states how a firm plans to accomplish this vision. A vision states the ethical values of a firm; a mission states the monetary goals of a firm. A vision states the management values of a firm; a mission states the values of the other workers. A vision states how much a firm wants to earn; a mission states how these earnings will be accomplished.

A vision states what a firm wants to accomplish; a mission states how a firm plans to accomplish this vision.

Soft Mattresses Inc. wants to become the largest and most profitable mattress supplier in a three-state area. To do this, Soft should try to create the smallest possible difference between the value that its mattresses creates and the expense that the company must spend to produce the mattresses. True False

False

The following statement by the chief executive of GoFlix movie studio is an effective strategy: "We will produce the greatest films of the 21st century." True False

False

Which of the following best describes a Level 5 manager in the Level-5 leadership pyramid? Jim is the CEO of Eco Inc.; he has helped his company in gaining and sustaining a competitive advantage through ethical decision making. Sivan is an employee who just started her career at DK Inc.; she has already been appreciated for her knowledge and skills in the new company. Tom is an employee at Now Inc.; he has helped his team achieve their targets by contributing to the team's efforts. Bill is part of the marketing team at Ransome Inc.; he has been given the charge of managing a team of three, so he will be promoted to a manager's position next month.

Jim is the CEO of Eco Inc.; he has helped his company in gaining and sustaining a competitive advantage through ethical decision making.

________ are considered the ethical standards and norms that govern the behavior of individuals within a firm. Strategic leadership Organizational core values Mission statements Vision statements

Organizational core values

The ________ allows the scanning, monitoring, and evaluating of changes and trends in a firm's macro environment. PESTEL framework VRIO framework BCG matrix SWOT analysis

PESTEL framework

_____ describes a process in which the options one faces in a current situation are limited by decisions made in the past. Causal ambiguity Path dependence Cannibalization Social complexity

Path dependence

he three tasks of the AFI strategy framework are to Assemble a prototype, Find a buyer, and Incorporate feedback. Group starts True False

False

Cartzy Inc., Cartific Inc., and Clustercart Inc., are three consumer-product retailing companies. Their products consist primarily of day-to-day items that are easy to imitate and sell. All three companies use the same resources and capabilities in the production and distribution of their products. Judging from the market conditions described in this scenario, which of the following statements is true? Barriers to entry within the industry will be high. Any advantage that one firm has will be short-lived. The industry structure will be far from perfect competition. Resource immobility of the firms will be low.

Any advantage that one firm has will be short-lived.

ndustrial Drills, a company that manufactures industrial tools, incurs higher costs because of its refusal to outsource its manufacturing to countries where labor costs are lower. This reflects Industrial Drills' ________ responsibility. legal economic demographic ethical

Ethical

Which of the following is an example of a business acting upon an organizational core value? Emerald Autos lowers its retail prices to gain an advantage over its closest competitor. Emerald Autos reduces engine emissions below federal guidelines to reduce pollution. Emerald Autos finances research for developing more powerful engines. Emerald Autos launches an ad campaign that promotes the company as being environmentally friendly.

Emerald Autos reduces engine emissions below federal guidelines to reduce pollution.

Which of the following is an advantage of applying the economic value creation perspective to assess a firm's performance? Arriving at the economic value created is easy because determining the value of a good in the eyes of consumers is a simple task. In economic value perspective, analysts not only consider historical costs, but also opportunity costs. It is the most efficient tool for assessing corporate-level competitive advantage of highly diversified companies with large product portfolios. When the need for "hard numbers" arises, managers and analysts rely on economic value creation perspective to measure competitive advantage.

In economic value perspective, analysts not only consider historical costs, but also opportunity costs.

Shippity and ShipING Inc. are two competing firms in the same industry. Shippity's tangible assets are valued at $15 billion and its intangible assets are valued at $35 billion. ShipING Inc.'s tangible assets are valued at $5 billion and its intangible assets are valued at $45 billion. What can be concluded from this information? It is likely that ShipING Inc. is better enabled than Shippity to gain and sustain a competitive advantage. Judging from the assets listed, ShipING Inc. has probably been in the industry a much shorter time than Shippity. There is no resource heterogeneity between the two firms, ShipING Inc. and Shippity, as they operate in the same industry. ShipING Inc. will be less competitive than Shippity because of its smaller investment in tangible assets.

It is likely that ShipING Inc. is better enabled than Shippity to gain and sustain a competitive advantage.

In nearly every case, which of the Five Forces is the most important in determining the relative power structure in an industry? No single force is dominant in most every case. potential entrants past participants current competitors

No single force is dominant in most every case

When conducting a _______________, it's best to examine both PESTEL and Porter's five forces analyses because these tools focus on the external environment. VRIO framework resource-based analysis SWOT analysis value chain analysis

SWOT analysis

________ is best described as an integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage. Strategic management Supply chain management Inventory management Integrated technology management

Strategic management

________ is best described as a set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors. Behavior modification Credo Competency management Strategy

Strategy

Which of the following statements accurately brings out the difference between tangible and intangible resources? Tangible assets are difficult for competitors to imitate, whereas intangible assets can be easily replicated. Tangible assets can be bought on the open market by anyone with the necessary cash, whereas intangible assets cannot be easily purchased. Tangible resources take a longer time to build, whereas intangible assets can be built comparatively easily. Tangible resources contribute to a company's competitive advantage, whereas intangible resources have little effect on competitive advantage.

Tangible assets can be bought on the open market by anyone with the necessary cash, whereas intangible assets cannot be easily purchased.

________ is best described as a measure of how effectively capital is being used by a firm to generate revenue. Return on revenue Risk capital Working capital turnover Revenue per employee

Working capital turnover

Green and Good Inc., a multinational company, relies on its media partner OmniSignal to regularly advertise its offers, sales, and new products. OmniSignal is invested in this relationship because it generates most of its revenue from advertising Green and Good's products. In this scenario, OmniSignal is Green and Good Inc.'s internal stakeholder stockholder. workforce. external stakeholder.

external stakeholder.

Which of the following summarizes the difference between corporate strategy and business strategy? Corporate strategy deals with when to compete; business strategy deals with how to compete. Corporate strategy deals with where to compete; business strategy deals with how to compete. Corporate strategy deals with how to compete; business strategy deals with when to compete .Corporate strategy deals with how to compete; business strategy deals with where to compete.

Corporate strategy deals with where to compete; business strategy deals with how to compete.

Bill's Auto & Airplane Repair shop is able to generate a positive net income of $10,000 a week; this is the industry average. We can conclude that since he has a positive net income, he also has a competitive parity in the industry. Correct—competitive advantage is achieved since Bill's Auto & Airplane Repair shop has a positive net income. Correct—competitive advantage is achieved through profitability alone. Incorrect—Bill's Auto & Airplane Repair shop more than likely has a sustained competitive advantage since his business is diversified. Correct—competitive parity is achieved by generating average returns, relative to competition in a given industry.

Correct—competitive parity is achieved by generating average returns, relative to competition in a given industry.

Why is it better for firms to keep their vision statements customer-oriented rather than product-oriented? Customer-oriented visions tend to be more stable when dealing with changing environments. Customer-oriented visions tend to have a more myopic view of changing environments. Customer-oriented visions tend to have a more short-range view of changing environments. Customer-oriented visions tend to be more flexible when adapting to changing environments.

Customer-oriented visions tend to be more flexible when adapting to changing environments.

Firms within the same industry automatically belong to the same strategic group. True False

False

High demand for online video streaming options is one of Netflix's core competencies. True False

False

Intellectual property (IP) protections such as trademarks or patents are proven methods of establishing permanent barriers to imitation. True False

False

Managers should create two sets of core values: one for employees and one for themselves. True False

False

Once a firm chooses a business model, it must stick with it for the life of the firm. True False

False

Once a strategy has been formulated and implemented, it is important that the firm sticks to it no matter what happens. True False

False

One of Tiffany & Co's tangible resources is its well-known brand name and reputation for quality timepieces. True False

False

Product-oriented vision statements are better suited than customer-oriented vision statements for helping companies to adapt to changes in the external environment. True False

False

Which of the following scenarios exemplifies a sustainable strategy under the triple-bottom-line approach? Gogozoom's nearest competitor increased the salaries of its production workers by 30 percent, but Impervious kept its wages the same to gain a cost advantage over its competitor. Rather than complying with the restrictive recycling laws in the United States, Gogozoom outsourced its manufacturing to a country that has fewer environmental restrictions. Gogozoom reformulated its products to eliminate chemicals that were widely used in the industry but were being investigated for their potential negative effects on the environment. Gogozoom developed a chemical additive that doubled the life of its plastics. The additive was currently legal, but environmental groups argued that it harmed the environment.

Gogozoom reformulated its products to eliminate chemicals that were widely used in the industry but were being investigated for their potential negative effects on the environment.

How are the critical assumptions of the resource-based model of a firm fundamentally different from the way in which a firm is viewed in the perfectly competitive industry structure? In perfect competition, all firms have access to the same capabilities, whereas in the resource-based model, resource differences exist between firms in the same industry. In perfect competition, it is extremely difficult to replicate the resource bundles of a firm, whereas in the resource-based model, it is extremely easy to imitate them. In the resource-based model, resources are freely available and mobile, whereas in the perfectly competitive industry structure, resources are highly immobile. In the resource-based model, only physical assets of a firm are considered as resources, whereas in perfect competition, a firm's capabilities and competencies are also considered as resources.

In perfect competition, all firms have access to the same capabilities, whereas in the resource-based model, resource differences exist between firms in the same industry.

Brandon is part of a sales team. He effectively coordinates his tasks with others in the team and willingly contributes to their efforts in achieving the team's objectives. Thus, Brandon is in ________ of the Level-5 leadership pyramid. Level 3 Level 2 Level 4 Level 5

Level 2

How is a firm's task environment different from its general environment? Managers have no direct effect over external factors in the task environment; they have influence over all external forces in the general environment. Managers have no direct effect over external factors in the task environment; they have some influence over external forces in the general environment. Managers have some influence over external factors in the task environment; they have little direct effect over external forces in the general environment. Managers have influence over all external factors in the task environment; they have no direct effect over external forces in the general environment.

Managers have some influence over external factors in the task environment; they have little direct effect over external forces in the general environment.

Keeping in mind the five forces in the airline industry, which of the following best explains the difficulty airlines have in generating a profit? Consumers in the industry make decisions based on price, thus reducing the intensity of rivalry in the industry. Suppliers have weak bargaining power because they offer products that are not differentiated. Substitutes are readily available in the form of trains, buses, and cars, thus reducing the profit potential in the industry. Entry barriers in the industry are high, resulting in hardly any new airlines popping up.

Substitutes are readily available in the form of trains, buses, and cars, thus reducing the profit potential in the industry.

In which of the following situations is the power of suppliers high in an industry? Suppliers can credibly threaten to backward integrate into the industry. Suppliers depend heavily on the industry for their revenues. Suppliers offer products that are undifferentiated. Suppliers' industry is more concentrated than the industry it sells to.

Suppliers' industry is more concentrated than the industry it sells to

When smartphone manufacturers began including cameras and voice recorders in their products, that was an example of industry convergence. True False

True

________ is a business model in which the manufacturer sets a fixed price on a product, but the retailer is free to set its own price. Bundling Wholesale Agency Freemium

Wholesale

If Modern Furniture LLC obtains an 18 percent return on invested capital, which of the following will help determine if it has a competitive advantage over other pharmaceutical companies? comparing the return to the return on invested capital obtained by other firms in the industry comparing the value to the history of the firm's return of investment over a number of years assessing the value based on the shareholders' expectations of return on their capital evaluating the liquidity ratios for other pharmaceutical companies

comparing the return to the return on invested capital obtained by other firms in the industry

The ___________________ suggest(s) that because the external environment changes, strategic leaders must choose their current and future investments carefully over time in order to best maintain their firm's competitive advantage. dynamic capabilities perspective VRIO framework law of diminishing returns SWOT analysis framework

dynamic capabilities perspective

Managers can justify using the balanced-scorecard framework because research show that both ________ and ________ performance dimensions are important when examining the effectiveness of a firm's strategy. quantitative, qualitative economic, stock price customer survey, peer evaluation financial, accounting

quantitative, qualitative

Southwest Airlines (SWA) and Alaska Airlines both compete as point-to-point airlines, but they draw upon different resource bundles. This example best illustrates which of the following assumptions regarding the resource-based view? resource heterogeneity resource immobility resource homogeneity resource allocation process

resource heterogeneity

In recent years a growing number of U.S. consumers have become more health-conscious about what they eat. According to the PESTEL Framework this trend could best be classified as a ________ trend. political healthy eating legal sociocultural

sociocultural

When do employees fail to adopt the organizational values of a firm? when the internal stakeholders of the firm are involved in designing the values when the top managers in the firm are merely paying lip service to the firm's stated values when the strategic leaders in the firm propagate and exhibit the same values when the organizational structure, such as its strategic decision making, is aligned with its values

when the top managers in the firm are merely paying lip service to the firm's stated values