Management Final Exam

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What is the starting awareness percentage of a new product

25%

You are charged a _______ brokerage fee to issue stock and _______ brokerage fee to retire stock

5% & 1.5%

You are charged a _________ brokerage fee to issue bonds and a ___________ brokerage fee if you retire bonds prior to their maturation date

5% & 1.5%

A company can produce up to _________ products

8

The Capstone courier is

A 12 page financial report from the past

The perceptual map is

A marketing tool used to compare performance against size

The 5 market segments learned in the Capstone guide are the following

High end, low end, traditional, performance, and size

Increasing a product's reliability will result in which of the following changes to production costs?

Higher material costs

As discussed in chapter 7, which of the following is the best question to ask when considering firms' international expansions

How much control can we afford to lose, and still confidently expect desired outcomes

Organizational performance is best measured by determining

How well the organization is reaching its goals

As discussed in chapter 5, Michael Porter popularized the consideration of two critical dimensions for defining a business-level strategy. Those two dimensions were ___________ and __________

Scope of operations and competitive advantage

R&D projects can drive a product's

Size, performance, reliability, and age

Which of the following is not a type of market segment in Capsim?

Standard

As discussed in chapter 4, the resource-based approach primarily affects SWOT analyses in the areas of _______________

Strengths and weaknesses

As discussed in chapter 9, how does structure affects firms' ability to execute its strategy

Structure, depending on agility needs, is more or less divided to support execution needs

As discussed in chapter 3, rivalry is generally lower when

Switching costs are high

In Capstone, pricing standards are set by

The customers in each market segment

The higher a company's automation level

The lower a company's labor cost and the more difficult it becomes to move a product long distances

When going to a new automation level

There is a 1 year lag

When a product is moved to a new location on the perceptual map, the perceived age is

divided in half

How many products does every team start with

One for each market segment (5)

As discussed in chapter 1, strategy can manifest itself through several fashions. Which of the following manifestations was NOT mentioned?

Probability

The account payable lag has implications for

Production

As discussed in chapter 4, SWOT analyses might be misleading if __________________

Resources are incorrectly categorized and strengths and weaknesses

What is the sales revenue and type of company used in Capsim?

$100 million electronic sensor company

How much is the electronic sensor company worth at the beginning of the year?

$100,000,000

What is the minimum amount of time that it takes to create a new product

1 year

Which automation rating requires the longest time to reposition a product?

10

At which point does the perceived age of a traditional product peak?

2

A production line with 1,000 units of capacity has a max production capability of

2,000

How can assembly lines double their capacity

Add a second shift

Dividends are paid to stockholders in

Annual installments at a rate per share that you establish at the beginning of the year

Capital needed for company activities cannot be acquired through

Arbitrarily firing employees

The promotion budget affects

Awareness

As discussed in chapter 8, a good example of _________ would be seen if Starbucks purchased a coffee bean farm

Backward vertical integration

R&D projects for existing products can

Change the MTBF specifications to match the needs of the segment, lower actual shelf life of products, and control product placement on the perceptual map

As discussed in chapter 1, strategic management at its simplest explanation is all about what

Choices

As discussed in chapter 5, which of the following tactics is NOT recommended when pursuing an overall cost leadership strategy

Competing based on uniqueness

As discussed in chapter 9, why are control mechanisms important?

Control mechanisms illustrate where firms should be

The finance department can use which of the following methods to acquire capital for company activities

Current debt, stock issues, bond issues, and profits

Time, quality, performance, service, and cost are sample metrics for assessing performance in the ____________ of the BSC

Customer perspective

As discussed in chapter 7, which of the following was NOT listed as a benefit of extending firms' operations to international presences

Decreased chance of fighter brands

As discussed in chapter 9, how do certain legal forms of business simplify/complicate execution of certain strategies?

Effects of decisions are amplified and/or divided based on where decisions are made (structure)

As discussed in chapter 7, international strategies typically stem from firms' decision to exchange _________ for ___________

Efficiency & responsiveness

As presented by the guest speaker in class, simply speeding up the OODA loop is not the most important concern. While speeding up the loop is important, quality of the decision matters too. Among many possible solutions to accomplish both priorities (speed and quality), what solution did the class offer to help with this problem?

Efficiently collect quality data so specialists can make decisions instead of process data

As discussed in chapter 3, rivalry is generally higher when

Exit barriers are high

As discussed in chapter 4, Barney (2001) said firms that build their strategies around tangible assets outperform firms that build strategies using intangible assets. True or False?

False

As discussed in chapter 7, firms benefit when domestic customers are perfectly willing to purchase inferior products. True or False?

False

As discussed in chapter 6, before making ______________ competitive move, a good question to ask is "can our firm establish dominance?"

First mover advantage

As discussed in chapter 6, all of the following answers were mentioned as examples of cooperative strategic moves except ____________

Footholds

As discussed in chapter 7, which of the following was NOT discussed as a concern for extending firms' operations to international precenses?

Forecasting risks

As discussed in chapter 10, several common decision-making errors were discussed. One such error exists when facts are presented positively or negatively, depending on the perspective of the person/group presenting the fact. This error is best described as ______________

Framing error

When an R&D effort started in 2001 completes on September 15, 2002 the product revision kicks in

Immediately upon completion

In Capstone, increasing performance and shrinking size does what to the material cost

Increases

Using the R&D spread sheet to design your products, you have which of the following projects to choose from

Invention, repositioning, and reliability adjustment

Why is it important to understand a firm's general environment

It shapes and influences firms' strategic decisions

Rapid movement of an existing product on the perceptual map requires

Low automation levels

As discussed in chapter 8, a good example of ___________ would be moving a sensor from one segment to another segment in Capstone

Market development

Which report found in the Capstone Courier contains numeric and graphical sales information for all products

Market share report

Your team will make decisions for

Marketing, finance, production, and research & development

A change in MTBF primarily affects

Material cost

As discussed in chapter 5, firms are considered ______________ when the firm sell products that cost too much to compete on price and lack differentiation to warrant higher costs

To be stuck in the middle

What are three of the five market segments

Traditional, low end, and performance

As discussed in chapter 8, acquisitions and mergers are good examples of horizontal integration. True or False?

True

As discussed in chapter 8, related diversification usually involved applying core competencies to other industries. True or False?

True

As discussed in chapter 6, blue ocean strategies only work if your firm follows a ____________ logic

Value innovation

Well-written mission statements answer the question ___________

Who are we


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