MGMT Exam 1

Unlike a long-lasting competitive advantage, a sustainable competitive advantage is one where:

A competitive advantage that other companies have tried unsuccessfully to duplicate and have, for the moment, stopped trying.

Smarty Tots manufactures children's clothing and prices them at twice the price of other children's clothing brands. The clothes sell exceptionally well because customers believe that its clothes are made of non-irritant and non-allergenic fabric. Smarty Tots's competitors do not have access to this type of fabric and cannot produce the same quality of clothing. The special fabric used in the clothing gives Smarty Tots _____.

A sustainable competitive advantage

In case of book publishing, identify an example of a sociocultural component in the general organizational environments that can indirectly influence all the organizations.

A trend toward less leisure time??

During a discussion about the budget for a project, the discussion gets personal between two managers of Trion LLC. They digress from the topic and start venting their anger on each other. In this scenario, the managers have _____.

A-type conflict

Primo Remo Cars recalled one of its car models after it learned about a defect in its engine. By doing so, it met all the expectations of its customers. This is an example of a(n) _____.

Accommodative strategy

In the context of the mistakes managers make, which of the following is a difference between arrivers and derailers?

Arrivers are sensitive to the feelings of others

In the context of the Boston Consulting Group (BCG) matrix, which of the following is a similarity between stars and cash cows?

Both have a high market share in their respective markets.

Peter and Mary applied for a job at Ben&Jen's Restaurant. Peter was friends with the owner of the restaurant, but Mary was better qualified and had experience working at another restaurant. The recruiting manager decided to hire Mary even though Peter was referred by the owner. Which of the following did the recruiting manager lead by to hire Mary?

Bureaucracy

In _____, managers are supposed to influence employee behavior by fairly rewarding or punishing employees for compliance or noncompliance with organizational policies, rules, and procedures.

Bureaucratic control

Unlike monarchical organizations, bureaucratic organizations:

Bureaucratic organizations are merit/experience/technical skill based while monarchical organizations rules by favoritism and family/personal connections

Luis designs clothes for Vongowd, an apparel store. Vongowd sells clothes designed by a number of designers. However, Vongowd is Luis's only option to sell his clothes. In the context of the specific environment, which of the following concepts does this scenario best illustrate?

Buyer Dependence

Referring to the "fiction of superior authority," _____ believed that workers ultimately grant managers their authority.

Chester Barnard

The workers at a furniture manufacturing plant demanded a 30 percent raise and two additional days off every month. The workers went on strike when the management refused to meet their demands. After two days, the management decided to give the workers a 15 percent raise and one additional day off every month and the workers ended their strike. Which of the following concepts does this scenario illustrate?

Compromise

The top management at Vermilion Inc. realized that there were some technical defects in the company's new manufacturing plant that was under construction. Technical specialists were sent to the site to correct the issues. This scenario illustrates the management function of _____.

Controlling

DramPharma is a company that manufactures and sells medicine to treat Huntington's disease, a rare genetic disorder. The company controls 80 percent of the world's industry in its segment. The company aims to seek steady growth in the industry. In terms of adaptive strategies, DramPharma would most likely be categorized as a(n) _____.

Defender

Claire is a manager at an information technology (IT) firm. She notices a consistent drop in the productivity of her employees. She is not able to find the reason behind this drop. In the context of rational decision making, which of the following steps should Claire take first?

Defining the problem

_____ pertain to the social roles that businesses play in society beyond their economic, legal, and ethical responsibilities.

Discretionary responsibility

_____ is an approach to dealing with conflict in which one party satisfies its desires and objectives at the expense of the other party's desires and objectives.

Domination (Follet)

_____ is the ultimate form of commitment companies can make to their workers.

Employment security

According to Linda Hill's study, after six months as a manager, most of the new managers believed that their job was to:

Exercise formal authority & being the boss, telling others what to do, making decisions, and getting things done.

Greg is the marketing manager of an apparel manufacturing company that specializes in winter wear. He personally visited the old age homes in which the company sponsored Christmas lunches, as part of its corporate social responsibility initiative. In the context of managerial roles, which of the following roles does Greg illustrate in this scenario?

Figurehead role

The economy is a part of the _____ that influences all organizations.

General environment

The health awareness board in the country of Gelhanwa made it mandatory for all brands that sell tobacco and tobacco products to display a disclaimer highlighting the dangers of tobacco on their product covers. In the context of the specific environment, this scenario best illustrates the effect of the _____ on organizations.

Industry regulation component

_____ is the amount and number of raw materials, parts, and finished products that a company has in its possession.

Inventory

Rizenton-Pharm, a pharmaceutical company, produces a significant amount of chemical waste every day. The company disposes the waste in a nearby lake despite strict government regulations regarding waste disposal. This scenario illustrates that Rizenton-Pharm has failed to fulfill its _____.

Legal responsibility

In the context of planning from top to bottom, the top management is responsible for developing _____.

Long-term strategic plans that make clear company will serve customers and position itself against competitors

In the context of the BCG matrix, which of the following businesses would be classified as a question mark?

Low market share in a market with high growth prospects

According to bureaucratic management, _____ should supervise an organization to reduce favoritism.

Managers

Providing a great shopping experience to customers is one of the important objectives of Purple Fashions Inc., a clothing store. To achieve this objective, the company has a team of committed customer service professionals, whose job is to ensure that customers get exactly what they want. This scenario illustrates that Purple Fashions is trying to achieve _____.

Organizational effectiveness

Which of the following is a benefit of planning?

Planning helps you cope with uncertainty

Katherine blames Shane for all her shortcomings at work even though he is the hardest working member in the team. In the context of workplace deviance, this is an example of _____.

Political deviance

During a test, Zoe's teacher tells him and his classmates that if she catches them cheating, she would give them poor grades. Hence, Zoe refuses to cheat during the test though his classmates cheat when the teacher steps outside the room. In the context of Kohlberg's stages of moral development, Zoe is at the _____ of moral development in this scenario.

Preconventional level

Organizations can achieve a competitive advantage by using their resources to:

Provide greater value for customers than competitors can.

Which of the following is the least aggressive tactic used by advocacy groups?

Public communications

Thyimach, a machinery manufacturing company, has been purchasing iron shafts from Metaljun, a supplier of iron and steel materials, for over a decade. When Thyimach designs new models of machinery, Metaljun manufactures shafts with new specifications without asking for advance payments. Thyimach, in turn, uses only Metaljun's materials to manufacture its machinery. In the context of the supplier component of a specific environment, this scenario best illustrates _____ between Thyimach and Metaljun.

Relationship behavior

In the context of the number and the intensity of external factors in the environment that affect organizations, a(n) _____ is defined as an environment with few environmental factors.

Simple environment

Tradcuisie Souvenirs is a company that manufactures souvenirs that represent the traditional arts of the country Yeingir. For the past few years, the business of Tradcuisie Souvenirs has been declining because of a shortage of artisans who have learned traditional crafts. In the context of the general environment, this scenario best illustrates the effect of the _____ on organizations.

Sociocultural component

In the context of the informational subroles identified by Professor Henry Mintzberg, managers in the _____ share information with people outside their departments or companies.

Spokesperson role

To combat increasing competition by lowering its prices, Rumbearc Inc., a paper carton box manufacturing company, decides to mechanize most of its production processes. Subsequently, Rita, the chief human resources officer of the company, makes a media announcement regarding its decision to lay off 600 employees. In the context of managerial roles, which of the following roles does Rita illustrate in this scenario?

Spokesperson role

Floyd, the chief finance officer of a company that sells rubber sheets, prepares an estimate that helps in calculating the rates of Cost, Insurance and Freight (CIF) and Free on Board (FOB) contracts. This pricing estimate is used every time the company gets an export order. In this scenario, Floyd has most likely prepared a _____.

Standing plan

Bennyson Corp. has five strategic business units (SBUs)—information technology, construction, education, consumer products, and energy. Its energy unit has a large market share in the industry and generates the majority of its profits. Bennyson is also considering investing more funds into the unit as the industry has been rapidly growing. In the context of the BCG matrix, which of the following categories of SBUs best describes the energy unit?

Stars

Cardwire Inc. has decided to lower the price of all its products to keep up with its competitors. To achieve this, the company needed to lower its overall costs. However, the procurement department at Cardwire has been spending twice its allotted budget to buy raw materials. Which of the following best illustrates the situation at Cardwire?

Strategic dissonance

Homespar is an e-commerce site that sells home décor and kitchenware. It sources all its wooden articles, such as coasters, serving trays, and photo frames, from a rural carpentry firm because the firm charges much lower prices than other carpentry firms. The firm is also reliable in terms of quality and delivery time. In the context of the specific environment, which of the following concepts does this scenario best illustrate?

Supplier dependence

Jipmor, an interior décor store in the city of Jeswayde, manufactures designer white oak furniture. Jipmor is highly dependent on Casode, which is the only store in Jeswayde that sells white oak wood, for the timely delivery of good-quality wood. In the context of the specific environment, which of the following concepts does this scenario best illustrate?

Supplier dependence

Deborah is a middle manager in a leading fashion magazine. She presents a half-yearly estimate on how she intends to use the budget allotted to her team for the next six months. In this scenario, Deborah has most likely contributed to developing the _____ for her team.

Tactical plan

When Zaprogs, a start-up, used the e-wallet system to develop an application for easy cashless transactions, a majority of people completely switched to online banking. As a result, a number of organizations that relied on hard cash transactions began to lose their business. In the context of the general environment, this scenario best illustrates the effect of the _____ on organizations.

Technological component

Keplem has a business unit in the insurance sector. The insurance sector is a slow-growing industry, and Keplem does not have a large market share in the industry. In the context of the BCG matrix, which of the following categories of SBUs best describes Keplem's business unit?

The Dogs

Which of the following illustrates the management practice of gaining competitive advantage through people?

The board of directors of Naocomp, a software company, decides to launch its own research and development division by investing from the company's profits.

Which of the following is true of a systems view of organizations?

There's a picture on Page 42 in the textbook for this one just in case All of these describe advantages of the systems approach to management.??