MNGT 301 study exam 2
The article What is theory of your firm used AT&T as an example of
A company that never discovered a valuable corporate theory
According to the author of the article, "What is the Theory of your firm? what was Steve jobs greatest contribution to apple?
A corporate theory of value creation
According to Rita Gunther Mcgrath, the author of the article translent advantage which of the following are sets of misconceptions, or traps, which may exacerbate the challenge of strategy reinvention for a company
All of these
According to the textbook, decision making involves
All of these
Which of the following shifts was discussed in the article, "Pipelines, platforms and the new rules of strategy" as being part of the move from pipeline to platform
All of these
In her video lecture Dr. Kathy Farrell cited mission statements by the following organizations
American Express, nordstrom, workday, and TED
Party supply uses time time-series forecast, such as past holiday and the strength of store sales this year, to predict future sales based on patterns of historical data. Party supply is using
Analytics
Uri, a server in a popular family restaurant is the most popular employee with both customers and employees
Behavioral
____ is the idea that proposes that the ability of decision makers to be rational is limited by numerous constraints, such as complexity of time, cognitive capacity, values, skills, habits, and unconscious reflexes
Bounded rationality
an organizations ____ expresses the need the firm will fill, the operations of business, its components and functions, and the expected revenues and expenses
Business Model
The BCG matrix is a means of evaluating strategic business units based on
Business growth rates and share of the market
An organization's _____ expresses the need firm will fill the operations of business, its components and functions, and the expected revenues and expenses
Business model
The rational decision making is also called the
Classical
Nora is a small-business owner who loves to take risks. She also enjoys going out and meeting customers and potential clients—the social aspect of her job. Nora relies on intuition and discussions with others to acquire information. As an interior decorator, Nora utilizes her imaginative strengths, taking a broad perspective to problem solving, and she likes to consider many options and future possibilities. Nora's decision-making style is best described as
Conceptual
To compete within a specific business environment, Michael Porter suggested a company can adopt one of the following strategies, differentiation, ____ or focus
Cost leadership
When organizations endeavor (1) to keep their costs (and hence the prices of their products or services) below those of competitors and (2) to target a wide market they are utilizing a ____ strategy
Cost leadership
Steve Jobs realized that Apple's internal capability which was not critical to value creation was design. According to the author of the article what's the theory of your firm? This is an example of:
Cross sight
In thinking, fast and slow, _____ winner of 2002 Nobel prize in economics
Daniel Kahnman
Bradely was recently promoted to production manager of a busy shoe factory.
Directive
The following is a quote form this article, "how smart, connected products are transforming competition". "In mining, Joy global has shifted from optimizing across the fleet of equipment deployed in the min." according to the article, what phenomenon is this example illustrative of?
Expansion of industry boundaries
World Grocer sells high quality products and grocery items that are unique to its highly populated area, in addition, it offers delivery for customers who are unable to leave their home and a number of regular workships regarding healthy eating. By offering these types of products and services, world grocery is pursuing a _____ strategy
Focused differentiation
Which of the following provides a complete listing of porters competitive forces
None of these
which of the following would be used to outline a response to a particular circumstance?
Procedure
Which of the following refers to the planning decision making that leads to the establishment of the organizations goals and of a specific plan?
Strategy formulation
What does Rita Gunter McGrath, the author of the article "Translent Advantage" state regarding transitive advantage
Translent advantage is the new normal. Sustainable competitive advantage is now the exception, not the rule
According to the article " what is disruptive innovation?" disruptive innovations originate in low end or new market footholds
Uber is an example of sustaining innovation
_______ means expanding into businesses that either provide the supplies needed to make the company's products or that distribute and sell the company's products
Vertical integration strategy
The planning process begins with two attributes: a mission statement and a vision statement. What questions are answered with these?
What is our reason for being? What do we want to become?
Porters competitive strategies of cost leadership and differentiation focus on ____ material, while focus and focused differentiation strategies focus on ____ markets
Wide, Narrow
According to reid hoffman what keeps blitzscaling companies like paypal, google, and ebay together and functioning?
a sense of excitement about what's being created at the company and the vision of a great future
in the artcile blitzcalling which of the following ideas is not discussed
all of these were discussed
Daniel loves sales because he responds well to the pressure he faces in the many new or uncertain situations he encounters as a salesperson. Like most successful salespeople, he is high in tolerance for ambiguity, yet he struggles with making decisions quickly. Daniel likely has a ___ decision making style
analytical
which of the following is not given as a platform business expanding into new terrain to compete with pipeline firms in the article pipelines and the new rules of strategy
chipotle encroaching onto subways territory
Managers who have _____ decision style often make decisions quickly because they do not like to deal with a lot of information and may consider only one two alternatives
directive
According to the article What is Disruptive innovating what incumbent companies should not do to react to disruptive entrants
dismantle a still profitable business
Walt Disney realized that family friendly visual fantasy worlds had vast appeal. According to the author of the article, what is the theory of your firm this is an example of
foresight
Which of the following goals satisfies the smart criteria
in the next quarter our tucson sales rep will increase sales by 10 percent
the rational model of decision making
is prescriptive
in her video lecture dr kathy farrel cited the following college of business guiding principles or values, challenge yourself, ask bold questions, be inclusive, make it matter and
look to the future
during her lunch break one afternoon, Allison set a goal of achieving all her completed training in 90 days, taking 2 training sessions a week. What is she doing?
planning
This month, Susan, manager of Orbitz, has heard several complaints that her employees don't return calls. Today a good customer told Susan that my phone calls are returned after maybe a week or so. This new directive by alice is an example of a
policy
Based on the video lecture by Dr kathy farrel, how many tasks forces have been created as apart of the strategic planning process at the College of Business?
six
Which of the following statements did not appear in the article, How smart, connected products are transforming competition?
smart, connected products generally reduce the opportunities to product differentiation, gradually moving competition toward price
In the BCG matrix __ are companies that have high growth and high market share and are definite keepers
stars
Denise owns several computer repair shops across the midwest, and she has set a goal for her company of cutting costs in all her locations over the next three years. Denise has set a(n)
strategic goal
A manager sticks with a decisions he invested a lot of resources .... according to the textbook, what is this phenomenon called?
sunk cost bias
According to the textbook which of the following plans typically has a short time period than others
tactical plan
Michael porter proposed that business like strategies originate with the primary competitive forces in the firm's environment, these forces are the
threats of new entrants and substitute products or services, the
Research suggests that when writing out a plan to achieve your biggest goals. It is important
to identify your options and track your progress
based on video lecture Dr Kathy what is the college's current mission statement
together, we drive discovery, create opportunity and empower individuals to lead the future of business. We are nebraska business