MGMT 3374 Test 1 Part 2

34. A _____ is a measurement framework that helps managers translate strategic goals into operational objectives.

Balanced Scorecard

33. Shared values:

act as guiding parameters for strategic planning.

37. As companies diversify into new businesses, managers are inevitably faced with a make or _____ decision.

buy

26. Integrated knowledge sets within an organization that distinguish it from its competitors and deliver value to customers are known as:

core capabilities.

21. The group of employees which has skills that are quite valuable to a company in creating customer value but not particularly unique or difficult to replace is referred to as

core employees.

25. At the fundamental level, a firm's strategy should focus on creating value for:

customers.

24. The systematic, regular monitoring of major external forces influencing an organization is called:

environmental scanning.

38. The employment of individuals in a fair and nonbiased manner is called:

equal employment opportunity.

36. The first step in strategic planning involves:

establishing a mission, vision, and values for an organization.

31. The Delphi technique:

is an attempt to decrease subjectivity of forecasts.

22. The mission of a company:

is the basic purpose of the company.

32. An organizational structure:

is the framework in which activities of employees are coordinated.

23. The core value of a company:

is the strong enduring belief used by the company to make decisions.

30. A qualitative approach to demand forecasting can include any of the following EXCEPT:

management forecast

29. In order to do an effective job at strategic planning managers do all of the following EXCEPT:

neglecting supply considerations.

35. The capacity of an organization to continuously act and change in pursuit of sustainable competitive advantage is

organizational capability.

40. Major federal EEO laws have been enacted to prevent discrimination against groups of workers most often affected by unfair employment practices. These groups are referred to as:

protected classes.

28. Which of the following is NOT a component of SWOT analysis?

strategy

39. An employee alleging discrimination can sue both the manager (or supervisor) of a company and the company itself because:

the manager or supervisor functions as an agent of the company.

27. When a firm's resources improve the efficiency or effectiveness of the company, the resources are always considered to be:

valuable.