MGT201- Unit 4 Quiz

Which of the following refers to the scenario when an organization concentrates resources in only a one or very few locations, or only a few individuals are authorized to make decisions about the use of resources?

Centralization

Which of the following model of change proposed an eight-step sequence and relies on a centralized, top-down process for creating planned change?

Kotter's Change Model

XY Products has a horizontal organizational structure with many individuals across the company empowered to make organizational decision. XY Products can be described to have which of these structures?

Organic

Which term describes a system for accomplishing and connecting the activities that occur within a work organization?

Organizational structure

ABC Products is interested in identifying what technological opportunities exists for their business. ABC should use which of the following strategic analysis tools?

PESTEL

______ is a tool that reminds managers to look at several distinct categories in the macro environment.

PESTEL

According to the BCG Matrix, business units that have a low market share but are in a high growth market are called ______.

Question Marks

"R" in VRIO refers to which of these?

Rarity

"R" in SMART Framework refers to which of these?

Relevant

_____ is (are) the big-picture goals for the company.

Strategic objectives

Which of these is the process of planning and implementing actions that will lead to success in competition?

Strategy

The _____ is emergent, meaning that it is formed through the common conversations and relationships that often naturally occur as people interact with one another in their day-to-day relationships.

informal organization

"T" in the SWOT analysis stands for ______.

threats

The mission statement takes the ____ of a vision statement and gives a broad description of _____ the firm will try to make its vision a reality.

why; how

Which of these represents the first step in Kotter's Change Model?

Establish a sense of urgency

Organizational design refers to the constant shifts that occur within an organizational system

False

Strategy and goals statements together are the first building blocks in defining why a firm exists and in developing a plan to accomplish what the firm wants to accomplish.

False

An organization with a horizontal structure is also known as a flat organization because it often features only a few levels of organizational hierarchy.

True

As a general rule of thumb, the more complex the potential change, the greater the need to involve employees in the process of planning and implementing change.

True

Demographics includes facts about income, education levels, age groups, and the ethnic and racial composition of a population.

True

Firms in an industry may or may not compete directly against one another, as we'll discuss shortly, but they all face similar situations in terms of customer interests, supplier relations, and industry growth or decline.

True

Which of the following describe the first phase of an Appreciative Inquiry (AI) practice?

Define

The BCG Matrix has recommendations for businesses in each quadrant—for example, a business in the dog quadrant should be sold or closed. Cash cows provide income to the corporation, and stars provide growth.

True

To react to change more easily and develop products consumers want, managers and consultants engage in environmental scanning.

True

A ______ strategy involves developing plans to increase the size of the firm in terms of revenue, market share, or geographic reach.

growth

In the context of Porter's model, a(n) ____ is any other product or service that can satisfy the same need for a customer as an industry's offerings

substitute

A firm's _____ are what it is not good at—things that it does not have the capabilities to perform well.

Weaknesses

Which of the following SWOT factors are external to the firm?

Opportunities and threats

A business-level strategy is the framework a firm uses to organize its activities, and it is developed by the firm's top managers.

True

All of these questions are answered by the Porter's 5 Force tool EXCEPT:

What sociocultural trends provide opportunities for my business?