MGT 385 Exam 1 Review

______ strategies are those organizational decisions that follow from analysis and rarely survive in their original forms.

intended

Analyzing the firm's Blank______ environment, such as operations, may uncover potential sources of competitive advantage. industry internal strategic external

internal

A buying group is considered powerful when it ______.

is responsible for a large volume of a seller's sales

Two approaches to evaluate firm performance include which of the following?

Financial ratio analysis stakeholder view (balance scorecard)

______ activities are the sequential activities of the value chain that refer to the physical creation of the product or service, its sale and transfer to the buyer, and its service after sale.

Primary

Which of the following statements describe the relationships among value-chain activities

They are relationships among activities within the firm and other stakeholders. They are interrelationships among activities within the firm.

Which of the following are true of behavioral controls? They involve monitoring and scanning the external environment. They involve responding to threats and opportunities. They involve balancing culture and boundaries or constraints. They involve balancing rewards and incentives.

They involve balancing culture and boundaries or constraints. They involve balancing rewards and incentives.

Firms must exercise which of the following two types of strategic controls? (Check all that apply.) behavioral formal informational informal

behavior, info

Which of the following are examples of advantages some existing competitors might have that are independent of size or economies of scale? favorable government policies government subsidies no access to raw materials high tax brackets proprietary products

favorable government policies government subsidies proprietary products

The six major entry barriers in Porter's five forces model include which of the following? Multiple select question. Capital requirements and switching costs. Powerful buyers and powerful suppliers. Limited access to distribution channels and cost disadvantages independent of scale. Economies of scale and product differentiation.

Capital requirements and switching costs. Limited access to distribution channels and cost disadvantages independent of scale. Economies of scale and product differentiation.

High exit barriers include which of the following? Government and social pressures due to concern for job loss. High exit barriers can be economic, strategic or emotional factors. They sometimes are due to having specialized assets or strategic interrelationships. High fixed or storage costs that create strong pressures for firms to increase capacity. High costs of switching from one product or service to another.

Government and social pressures due to concern for job loss. High exit barriers can be economic, strategic or emotional factors. They sometimes are due to having specialized assets or strategic interrelationships. High fixed or storage costs that create strong pressures for firms to increase capacity.

Which of the following are reasons managers should use Porter's five forces model? It can help them decide whether to enter, remain, or exit an industry. It can help them develop their supply chains through developing strong relationships with both suppliers and customers. It can help managers better understand social, legal, and technological trends. It can help them assess how to improve the firm's competitive position within the industry.

It can help them decide whether to enter, remain, or exit an industry. It can help them assess how to improve the firm's competitive position within the industry.

Which of the following statements about structural holes are true? Sales and engineering typically do not interact across groups. They refer to the social gap between managers and employees in the same group, for example the marketing department. Managers refer to them as silos or stovepipes. They are common in organizations. They refer to the development of ideas.

Sales and engineering typically do not interact across groups. Managers refer to them as silos or stovepipes. They are common in organizations.

Which form of stakeholder management views stakeholders as interdependent? Capitalistic Symbiosis Socialistic Zero-sum

Symbiosis

Which of the following play a role in increasing the bargaining power of the buyer? The buyers pose a credible threat of backward integration. The products being purchased from the industry are standard or undifferentiated. The buyers make large purchases relative to the industry's sales. The industry's product is important to the quality of the buyer's products or services.

The buyers pose a credible threat of backward integration. The products being purchased from the industry are standard or undifferentiated. The buyers make large purchases relative to the industry's sales.

Which of the following play a role in increasing the bargaining power of the buyer?

The products being purchased from the industry are standard or undifferentiated. The buyers pose a credible threat of backward integration. The buyers make large purchases relative to the industry's sales.

A firm's expanded value chain includes Blank______.

customers

_____________ strategy is a combination of deliberate and emergent strategies

realized

Inteded strategy rarely survives its original form

true