MAN4720 Strategic Management
Statements about contingency plans are true
1)Only high-priority areas require the insurance of contingency plans. 2)Contingency plans minimize the impact of potential threats
The percentage of persons age 65 or older will reach what percent in the United States and China in 2036.
20%
Generally Accepted accting Principles (GAAP) comprise approximately ________ pages
25,000
International financial reporting standards (IFRS) comprise approximately ________ pages
5000
1-Commitment to avoid pollution, 2-identify all aspects of a business (activity, products, Srvs, that could have an impact on the environment, 3-Set performance objectives & targets to link back to three policies: prevention, continued improve & compliance)4-meet objectives incl training 5-Conduct audit 6-take colorectal action
6 major requirements of EMS
The portion of the world's population that lives outside of the United States is growing ________ the U.S. population.
70 percent faster than
The portion of the world's population that lives outside of the United States is growing how fast?
70 percent faster than the US population
What percentage of the worlds population live outside of US?
95%
A key ingredient in the establishment of an ethics culture:
A clear code of business ethics
Monitoring departmental and corporate performance regarding ethical issues can cause firms to
Align ethical and strategic decision making.
Commercial and industrial development in the western part of which country has turned interior cities into production centers that compete for labor with coastal factories?
China
Guanix
China business relations refers to personal relationships.
What are Rumelt's criteria to evaluate a strategy?
Consistency, Feasibility, Consonance & Advantage
Refers to the need for strategists to examine sets of trends, as well as individual trends, in evaluating strategies?
Consonance
Protectionism
Countries imposing tariffs, taxes ®ulations on firms outside of the country so they can favor their own companies.
A reason that workplace romance can be detrimental to workplace morale and productivity:
Decreased quality and quantity of work can occur.
NOT a way that companies can help create an ethical culture in their organization.
Discouraging whistle-blowing
A rule from the Wall Street Journal article "The New Rules of Flirting".
Do flirt within a relationship that you want to strengthen
Whats the effect of Taking corrective actions on existing or new strategies
Doesnt mean that existing will be abandoned, or new strategies must be formulated.
Multi-natl corps face almost limitless social, cultural, demographic, environmental, political, govtl, legal, techno, & competitive oppor & threats, whats the effects of the # & complexity of these factors?
Dramatically increase with the number of products produced and the number of geographic areas served.
The lowest cost source for precision machinery is
Europe
Brazil offers skilled labor & technology, while Germany offers abundant natural resources & rapidly developing markets.
False
ISO, the world's largest developer of sustainability standards, is legally authorized to enforce their standards.
False
Reasons workplace romance can be detrimental to workplace?
Favoritism complaints arise, Sex harass charges may ensue, & Confidentiality breach of records.
Desire for ________ is a part of the social fabric in worker-manager relations in Mexico.
Harmony
What is ISO 14000 & 14001 Certification?
ISO 14000 is a series of voluntary standards in enviro fields & 14001 is a set of standards too certify business in an enviro friendly manner
the percentage of the population age 65 or older exceeds 20 percent in which countries?
In Japan, Italy, and Germany
The lowest cost source for semi conductors is
Japan
The lowest cost source for simple electronis is
Malaysia
How does European workers and workplaces respond vs. American?
Many Europeans respond enthusiastically to pay-for-performance, commission salaries, and objective measurement reward systems.
Orphan drugs offer pharmaceutical companies?
No economic incentive for profitable development and distribution.
How often should strategy-evaluation activities should ideally be performed?
On a continuous basis
Most organizations can afford to pursue how many corporate-level strategies at any given time.
Only a few
Environmental Management System (EMS)
Practices and procedures put in place by ISO 14001.
Flirting as defined by researchers
Romantic behavior that is ambiguous and goal oriented.
CEOs and business owners should or should not delegate the responsibility for ensuring that high ethical principles are espoused and practiced in an organization.
Should not
Small organizations vs large organizations in strategy-evaluation system
Small organizations require the same strategy-evaluation system, as large organizations
Jeff Wells of the Natl Audubon Society asks "Why should we be willing to watch ________ destroyed any more than allowing a great work of art to be destroyed?"
Songbirds
The lowest cost source for textiles is
Sri Lanka
What does most economists argue about protectionism?
That it harms the world economy because it inhibits trade among countries and invites retaliation.
What aims to balance long-term w/ short-term concerns, financial w/ nonfinancial concerns, & internal w/ external concerns?
The Balanced Scorecard approach
A reason strategy evaluation is more difficult today is?
The decreasing time span for which planning can be done with any degree of certainty
What was a weakness of U.S. firms have in competing with Pacific Rim firms.
The understanding of Asian cultures
The U.S. Chamber of Commerce supports a change from to GAAP to IFRS, why?
They feel it will help the United States compete in the world economy.
In an industry that is, or is rapidly becoming global, the riskiest possible posture is?
To remain a domestic competitor
The availability, depth, and reliability of economic and marketing information in different countries vary extensively.
True
________ refers to refers to employees reporting any unethical violations they discover or see in the firm.
Whistle-blowing
Marketing managers in Japan see making a sale ________ the selling process.
as the beginning of
Firms today can not get away with placing "green" terminology on their products and labels, why?
because there are legal or generally accepted definitions of terms like "organic," "green," "safe," or "earth-friendly."
American business culture
business embodies individualism, achievement, competition, and informality
Mexican business culture
business stresses collectivism, continuity, cooperation, and formality
According to Rumelt, which 2 criterion are largely based on a firm's internal assessment.
consistency (goals) and feasibility (resources)
An important business activity in Japan is?
entertaining because it strengthens Wa.
When measuring organizational performance, a comparison should be made between what?
expected results and actual results.
Too much emphasis on evaluating strategies may be:
expensive and counterproductive.
A potential advantage to initiating, continuing, or expanding business across national borders
foreign operations can absorb excess capacity, reduce unit costs, and spread economic risks over a wider number of markets.
A potential disadvantage to initiating, continuing, or expanding business across national borders
foreign operations could be seized by nationalistic factions
The strategy-evaluation process should
foster mutual understanding and trust
In China, how should one should eat?
heartily, to demonstrate enjoyment of the food.
According to Linneman and Chandran, what should be the first step in contingency planning.
identifying both good and bad events that could jeopardize strategies
Taking corrective actions, requires what?
making changes to competitively reposition a firm for the future.
Firms can align ethical and strategic decision making by?
monitoring departmental and corporate performance regarding ethical issues.
Strategy-evaluation activities should ideally be performed
on a continuous basis
The ocean covers how much of the earth?
over 71%
Sustainability refers to the extent that an organization's operations and actions ________ the natural environment.
protect, mend, & perserve rather than harm or destroy
The accounting switch from GAAP to IFRS in the US is going to result in .
substantial costs to businesses for fees, upgraded software systems, and training
Social responsibility refers to actions an organization takes that are what?
that are beyond legally required to protect or enhance the well-being of living things
A primary reason why most domestic firms are engaging in global operations is
that growth in demand for goods and services outside the United States is considerably higher than inside.
Since the 1980s, most countries have been steadily lowering their corporate tax rates except which?
the United States
Japanese tend to hold back on the use of first names until
they are well acquainted with foreigners with whom they have business dealings
Japan is providing incentives for what for the elderly?
to work until ages 65-75.
Responsibility for encouraging ethical decision making and ensuring ethical behavior in a firm lies with?
with both a firm's strategists and its managers
