MG 302 Exam 2
combining intuitive and analytical thought
Quasirationality
expansion into new business related to existing business activities
related diversification
T/F In the storming stage of team development, the team members experience low levels of cohesion.
True
new ventures, risky-- a few become stars, others are divested
bright prospects
results expected from departments, work groups, and individuals • Precise and measurable
operational goals
interpersonal incompatibility that creates tension and personal animosity among people
relationship conflict
brings people together in an interactive group over a computer network
Electronic brainstorming
T/F Competitive advantage refers to the set of decisions and actions used to formulate and implement strategies.
False
Any veteran who asks me for a dog will have one within one month of the request.
Goal
what decision style exhibit a deep concern regarding effect of decision on others?
behavioral style
situation in which all information the decision maker needs is fully available
certainty
Think about the different types of teams in organizations and complete the sentences. Alexandra is the manager of the IT department and has 12 systems analysts reporting to her. Alexandra and her employees coordinate closely to accomplish the department's goals, and they are a _____________________________
functional team
Porter's Competitive Strategies
-differentiation strategy -cost leadership strategy -focus strategy
building an alliance of people who support managers and influence efforts toward achieving goals
Coalition management
a commitment to make more informed and intelligent decisions based on the best available facts and evidence
Evidence-based decision making
a team member who attains benefits from team membership but does not actively participate in and contribute to the team's work
Free rider
T/F The vision statement is based on the company's core values.
True
T/F The storming stage of team development is marked by conflict and disagreement.
True
What decision style base decisions on all available rational data?
analytical style
desired future circumstance or condition that the organization attempts to realize
goal
tendency of people in groups to suppress contrary opinions
groupthink
Joe is leading a virtual conference call where members attend from their various locations, but are available to respond to questions during that meeting. This is an example of a ___________ meeting. A. All of these options B. None of these options C. Asynchronous D. Synchronous E. Sales
D. Synchronous
disciplined procedure whereby managers invest time in reviewing the results of decisions on a regular basis and learn from them
Postmortem, or after-action review
Which Management by objectives step would this be? On April 1, the manager sees that nine contingent call center workers have been hired and completed training. On June 30, call center data show 5 percent of calls are on hold for more than 90 seconds
Reviewing Progress
choosing the first solution that satisfies minimal decision criteria
Satisficing
T/F Low Cost Strategy produces or delivers products or services equal to those of their competitors by finding the means to produce them more efficiently than the competition
True
T/F Planning is the act of determining the organization goals and the means for achieving them.
true
purposefully imagining a decision has been implemented and has failed miserably, and then identifying reasons for the failure so that problematic issues can be addressed in advance
Premortem
__________ is when the team's structure or membership results in reduced efficiency that reduces the team's overall performance
Process Loss
T/F In the performing stage of team development, teams are at a position in which they have worked through their differences, their membership is stable, the task is clear, and eyes are on the prize.
True
stronger response to a potential loss than to an expected gain
loss aversion
reasonable yet highly ambitious and compelling goals, characterized by both extreme difficulty and extreme novelty, that energize people and inspire excellence
stretch goals
define what major departments and organizational subunits will do to implement the organization's strategic plan • Tend to be short term
tactical plans
define company responses to be taken in the case of emergencies, setbacks, or unexpected conditions
Contingency planning
T/F Performance norms are only concerned with the organizations performance and less concerned with individual or team performance levels.
False
Which Management by objectives step would this be? Based on data on how long people wait before hanging up, the manager decides the maximum time on hold should be 90 seconds.
Setting a goal
-Two or more individuals who are striving to work together to achieve a common goal -Complimentary skills, collaborate, and commit to a common purpose -•Better decision-making -Solve complex problems -Increased innovation and creativity -Reduced cost -Increased overall performance -Reduced turnover and absenteeism -Increased employee satisfaction and motivation -Synergistic effect: 1 + 1 + 1 = a number greater than the sum of its parts
Team
no investment. keep if some profit. consider divestment
dog
Three approaches to understanding corporate-level strategy
•Portfolio strategy • Boston Consulting Group matrix • Diversification
What are the five stages of team development?
1. Forming 2. Storming 3. Norming 4. Performing 5. Adjourning
people have limits or boundaries on how rational they can be
Bounded rationality
composed of a manager and subordinates in the formal chain of command
Functional team:
goal or plan? I'll train the dogs myself. That way, I can have them ready for placement more quickly.
Plan
is defined as a unit of two or more people who interact and coordinate their work to accomplish a common goal to which they are committed and hold themselves mutually accountable.
Team
The in-group pressures that keep team members together
Team Cohesion
T/F Cross-functional teams derive their strength from having members from across the company and from different departments participate in the team.
True
T/F Brenda's team adheres to patterns of behavior where members feel free to constructively criticize each other. This is a typical characteristic of the norming stage of team development.
True
T/F Normas can be formal or informal
True
T/F Team members should be satisfied with the team process, with each other, and the overall team's ability to achieve its goals.
True
T/F Teams need information, authority, autonomy, motivation, and training
True
occurs when two or more organizations combine to become one.
merger
goals to be achieved or problems to be solved are unclear, alternatives are difficult to define, and information about outcomes is unavailable
ambiguity
uses a face-to-face interactive group to spontaneously suggest as many ideas as possible for solving a problem
brainstorming
T/F Threats are characteristics of the internal environment that may prevent the organization from achieving its strategic goals.
False
T/F Behavioral norms can be formal, written, or they can be informal but well understood by all team members.
True
set of decisions and actions used to formulate and execute strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals
strategic management
what sets the organization apart from others and provides it with a distinctive edge for meeting customer or client needs in the marketplace.
competitive advantage
T/F In the adjourning stage of team development, the team continues to work through their final tasks.
False- The adjourning stage means it is complete
What type of plan would be developed in order to achieve this goal? (Strategic, tactical, operational) We will install new refrigeration units to maintain the freshness of our ingredients.
Operational
business division of the organization that has a unique business mission, product line, competitors, and markets relative to other SBUs in the corporation
Strategic business units (SBUs)
T/F Actual productivity= potential productivity- process losses
True
According to Patrick Lencioni, effective teams share five characteristics. Complete the following table by selecting the characteristic that matches each definition. Individual members set aside personal agendas; they focus on what's best for the team. Collective outputs define success.
results orientation
distinctions among people with respect to how they evaluate problems, generate alternatives, and make choices.
decision styles
Work team effectiveness is based on what three outcomes?
satisfaction. productive output, capacity to adapt
official goals; broad statements describing where the organization wants to be in the future
strategic goals
informal operating guidelines that establish agreed-upon behaviors about how the team's work will get done and what members can expect from each other
team norm
What type of plan would be developed in order to achieve this goal? (Strategic, tactical, operational) We will develop advertising campaigns to promote our community focus.
Tactical
milk to finance bright prospects and stars
cash cows
T/F Cross-functional teams derive their strength from everyone having the same skills and abilities.
False
hypothetical dividing lines based on one or more demographic characteristics of members, such as age, race, or ethnicity, or on nondemographic characteristics, such as personal values or attitudes
Faultiness
tool used to assess what is important to an organization and how well the organization is progressing toward achieving its strategic goal.
Key performance indicators (KPIs)
ambitious objectives, attainable only through imagination and innovation. Strategic goals describe any end result desired for the organization as a whole.
Stretch goals
made in response to situations that are unique, are poorly defined and largely unstructured, and have important consequences for the organization
nonprogrammed decisions
What is an established expectation?
norms
determining the organization's goals and defining the means for achieving them
planning
involve situations that have occurred often enough to enable decision rules to be developed and applied in the future
programmed decisions
define the action steps by which the company intends to attain strategic goals • Blueprint that defines organizational activities and resource allocations • Tend to be long term
strategic plans
disagreements about the goals to be achieved or the tasks to be performed
task conflict
goals are known, but information about alternatives and future events is incomplete
uncertainty
composed of employees from about the same hierarchical level, but from different areas of expertise
cross-functional team
When a firm pursues a differentiation strategy, it is attempting to ________.
develop unique products and services
people engage in give-and-take discussions and consider various alternatives to reach a joint decision that is acceptable to both parties.
negotiation
An organization that increases its market share by acquiring and merging with other companies is utilizing which strategy: A. external growth strategy B. balanced growth strategy C. cost leadership strategy D. internal growth strategy
???
As a manager, you have been asked to work with your employees to develop goals. What can you expect from this process? Check all that apply. A. A benefit of goals is that they help motivate employees. B. A benefit of plans is that they lock the organization into a course of action it can stick to, even if the environment changes. C. Planning can harm an organization because it distracts employees from important outcomes. D. One of the drawbacks of plans is that they can create a false sense of security.
A & D A. A benefit of goals is that they help motivate employees. D. One of the drawbacks of plans is that they can create a false sense of security.
aggressively seek efficient facilities, cost reductions, and cost controls
Cost leadership strategy
the process of identifying problems and opportunities and then resolving them
Decision making
person assigned the role of challenging the assumptions and assertions made by the group
Devil's advocate
benefits from team success without contributing
Free rider/social loafer
goal or plan? I can get dogs from the pound. There are so many abandoned animals; it will be quicker, less expensive, and easier than trying to get dogs from breeders.
Plan
What is productivity norms?
acceptable performance outcomes
a team that is small, focused on one aspect of a larger project, and has complete responsibility and all needed member expertise to produce its product or service
agile team
What is acceptable behaviors?
behavioral norms
concentration on a specific region or buyer • Either differentiation or cost leadership approach
focus strategy
A person who adopts this role primarily helps the team meet other members' emotional needs and strengthens the team as a social entity. This individual encourages others, harmonizes conflict, reduces emotional tension, goes along with the team's direction, and is willing to compromise.
socioemotional role
Now you have to get to work. Your first thought is to have seven members on the team, but management research indicates that seven members would be ____________. It would be better to have ___________ people on the team.
too many three to six
is an example of related diversification. Unrelated diversification is used when a company expands by acquiring a business that is very different from the business it is already in. Walt Disney's purchase of ABC Studios (a former distributor of Disney's work) is an example of
vertical integration
Operates across time, location, and organizational boundaries using virtual meeting technologies
virtual team
group made up of geographically or organizationally dispersed members who are linked primarily through advanced information and telecommunications technologies
virtual team
BCG Matrix: The combination of high/low market share and high/low business growth rate provides four categories for a corporate portfolio:
•Star • Cash cow • Bright prospect • Dog
Nancy is leading a virtual team where members are using email, a discussion board, and cloud-based technologies to sharing information from their various locations, but are able to respond at their convenience. This is an example of which of the following: A. None of these options B. All of these options C. Asynchronous interaction D. Synchronous interaction E. Sales meeting
C. Asynchronous interaction
T/F Teams with very high cohesion demonstrate high levels of tension & anxiety.
False- •Lowers tension & anxiety, less productivity issues, and better team member satisfaction, communication, and adaptability
T/F Having a preference for working in a team is not a relevant factor for successful teamwork.
False- It is a relevant factor for successful teamwork
To energize employees and inspire excellence, an organization may set what kind of goals?, which are reasonable yet highly ambitious.
Stretch goals
typically consisting of 5 to 20 multiskilled workers who rotate jobs to produce at least one complete aspect or portion of a product or service
self-managed team
For each example of a statement made during a team meeting, indicate the role of the speaker. Gwen said, "I'd like to hear more about that, Amara. I think you're on to something. You always have such good ideas."
socioemotional
T/F In the forming stage of team development, the team members will begin to discuss team leadership.
True
Effective teams will produce the following, EXCEPT: A. Problem Solving B. Employee Satisfaction C. All of these Options D. Reduced Cost E. Innovation and creativity
????
The CEO of your company is thinking about changing the name of the company, and she wants to create a strategy map as part of the process. What can you tell her is an advantage of strategy mapping?
A strategy map will help managers see how the different goals in the company are related.
What stage of team development includes: • Team has completed its work and adjourns • Provides closure for team members • Recognizing team members and the team's accomplishments
Adjourning Stage
Yaniv Masjedi is the CMO of Nextiva, which provides cloud-based VoIP services to businesses. His company uses virtual teams, and he says, "If feasible, arrange for an in-person meet-up with virtual teammates — whatever you can do to ... make everyone feel part of the team." This is an example of which of the following practices for helping to create a virtual team? A. Shaping team culture B. Finding ways to build trust and relationships C. Monitoring progress
B. Finding ways to build trust and relationships
Which Management by objectives step would this be? A pool of twelve contingent call center workers who work at home will be hired and trained before April 15. These employees can be activated anytime hold times threaten to exceed 90 seconds.
Developing an action plan
T/F Process loss is when teams improve efficiencies through proper planning and organizing.
False
T/F Teams can be composed of members who do not have interaction with each other.
False
T/F Opinion leaders can utilize and the input of creative ideas from other team members to advance the team's goals
False
T/F Team members of a hybrid team rely on virtual technologies, and never meet in-person to hold meetings
False
T/F The stage of team development in which conflicts still exists and members focus on problem solving is called reforming.
False-
T/F Individual issues and conflict emerge during the performing stage.
False- Storming Stage
T/F There are four stages of team development.
False- there are five stages of team develop
What stage of team development includes: -teams are formed -members are introduced -member & leadership are established -initial discussion ab team purpose -identifying team resources -limited progress on team goals
Forming Stage
What stage of team development includes: -Improved team member relationships • Roles and responsibilities are defined • Increasing cohesion and trust• Beginning to delegate responsibilities • Established behavioral and productivity norms • Leadership can be shared
Norming Stage
What member role helps the team reach its goal • Initiate ideas • Give opinions • Seek information • Summarize • Energize
Task Specialist Role
T/F In the forming stage of team development, the team members will begin to discuss team goals and procedures.
True
Think about the different types of teams in organizations and complete the sentences. To improve its supply chain, the giant retailer formed a __________________ of logistics specialists and store managers in the United States and manufacturing managers in India and China.
global team
cross-border team made up of members of different nationalities whose activities span multiple countries
global team
In _____, individuals agree reluctantly with a group's decision because they are more concerned about maintaining harmony and cohesiveness than critically thinking about problems or alternative approaches.
groupthink
According to Patrick Lencioni, effective teams share five characteristics. Complete the following table by selecting the characteristic that matches each definition. Members feel comfortable disagreeing and challenging one another in the interest of finding the best solution.
healthy conflict
Use your knowledge of the roles people assume on teams to complete the sentence. As the team works together, Carol plays a ______________ , diffusing conflicts and helping everyone feel welcome to contribute ideas.
socioemotional role
what member role supports team members' emotional needs and strengthens the social entity • Encourage • Harmonize • Reduce tension • Follow • Compromise
socioemotional role
created outside the formal structure to undertake a project of special importance, such as developing a new product
special- purpose team
For each example of a statement made during a team meeting, indicate the role of the speaker. Ethan said, "Folks, I've just had a brainstorm! We could get the people in sales to communicate our message to customers. They'll be good at it, they'll enjoy it, and the message will get out really fast."
task specialist
the extent to which members are attracted to the team and motivated to remain on the team Determinants of this • Team interaction • Shared goals • Personal attraction to the team Consequences of this • Morale • Productivity
team cohesiveness
T/F Teams can develop from immature teams to mature teams
true
Can a new team member be added throughout/ after the process?
yes
use of a rational decision-making process within the limits of human and environmental factors• Descriptive: how managers actually make decisions in complex situations Bounded rationality Satisficing intuition Quasirationality
Administrative model
distinguish products and services
Differentiation strategy
win-lose approach is competitive and adversarial.
Distributive negotiation
continuing to invest time and money in a solution even when there is strong evidence that it is not appropriate
Escalating commitment
T/F Companies that adopt a specialization strategy, focuses on a large market segment and only pursue a differentiation strategy.
False
T/F The three levels of strategy are business, corporate, and global.
False
win-win approach assumes that all parties want to come up with a creative solution that can benefit both sides of the conflict
Integrative negotiation
new systemic approach that focuses attention on the methods and processes used to achieve goals
Management by means (MBM)
system whereby managers and employees define goals for every department, project, and person and use them to monitor subsequent performance
Management by objectives (MBO)
occurs when we allow initial impressions, statistics, and estimates to act as anchors to our subsequent thoughts and judgements
anchoring bias
what decision style use a broad amount of information to solve problems creatively?
conceptual style
occurs when a manager puts too much value on evidence that is consistent with a favored belief or viewpoint and discounts evidence that contradicts it
confirmation bias
preparing organization, managers, and employees to cope with catastrophic events that could destroy the firm
crisis planning
a choice made from available alternatives
decision
strategy of moving into new lines of business
diversification
quick apprehension of decision situation based on experience but without conscious thought
intuition
involves a strategic alliance or program by two or more organizations
joint merger
the organization's reason for existence
mission
broadly stated definition of purpose that distinguishes the organization from others of a similar type • Clearly articulates the organization's strategic direction• Sets a clear framework for development of all subsequent goals and plans • Motivates and inspires employees
mission statement
how a decision maker should make a decision
normative
developed at the lower levels of the organization to specify action plans toward achieving operational goals and to support tactical activities
operational plans
decision has clear-cut goals and good information is available, but future outcomes associated with each alternative are subject to chance of loss or failure.
risk
rapid growth and expansion
stars
plan of action that describes resource allocation and activities for dealing with the environment, achieving a competitive advantage, and attaining the organization's goals.
strategy
occurs when organizational parts interact to produce a joint effect that is greater than the sum of its parts acting alone
synergy
the results that major divisions and departments within the organization intend to achieve • Apply to middle management
tactical goals
organizes business along two dimensions—business growth rate and market share
BCG matrix
something the organization does especially well in comparison to its competitors
Core competence
Sameera has the goal of getting her work done, while her parents have the goal of getting work done around the house. Which of the following conflict resolution techniques would be most effective in this situation? Coalitional management Manager departures Modify goals by time or location Address conflicts with debate and dialogue
Modify goals by time or location
Identify the problem with the following goal. To be the best restaurant in Atlanta by September 2014
Not Measurable
Identify the problem with the following goal. To acquire a car by October 31
Not Specific
What stage of team development includes: • Team are performing at a high level • Teams are working toward team goals • Cohesion and trust exist among team members • Effective communication across the team • Members are self-motivated, show initiative, and share the team's vision • Managed conflict effectively • Leadership are flexible and adaptive, as are the teams
Performing stage
pertains to the mix of SBUs and product lines to provide synergy and competitive advantage
Portfolio strategy
audit of internal and external factors • Internal Strengths and Weaknesses • External Opportunities and Threats • Information is acquired from reports, surveys, discussions, and meetings.
SWOT analysis
identify whether it reflects a single-use plan or a standing plan. The entry on your to-do list to "buy a cake for Susan's going away party":
Single Use plan
the tendency for the presence of others to enhance one's performance
Social facilitation
What stage of team development includes: -team makes additional progress regarding its purpose -low levels of cohesion -potential for conflict -making progress towards identifying roles and responsibilities -team performance is still limited, but improving -focus on emerging goals & avoid becoming distracted by relationship and emotional issues
Storming Stage
What type of plan would be developed in order to achieve this goal? (Strategic, tactical, operational) We seek to partner with farms located in the regions in which we are located.
Strategic
T/F Individuals are more likely to be successful in teamwork when they have a preference for working in teams.
True
T/F One of the primary advantages of virtual teams is the ability to assemble the most appropriate group of people to complete a complex project, solve a particular problem, or exploit a specific strategic opportunity.
True
According to Patrick Lencioni, effective teams share five characteristics. Complete the following table by selecting the characteristic that matches each definition. Members connect with one another on a deep emotional level; they feel comfortable being vulnerable with one another.
Trust
Although they are assigned specific territories, sales people at Gibson & Associates contact clients outside of their territories. They are hoping to make additional sales which will increase their chances to meet their goals. One reason that might explain this behavior is that goals and plans
can create too much pressure
based on rational economic assumptions and manager beliefs about what ideal decision making should be normative
classical model
informal alliance among managers who support specific goal • Without this, powerful groups can derail the decision-making process
coalition
a serious disagreement or argument in which one party attempts to block the intentions or goals of another
conflict
Step 1. Recognition of decision requirement: identify problem or opportunity • Problem: organizational accomplishment is less than established goals • Opportunity: managers see potential accomplishments that exceed current goals Step 2. Diagnosis and analysis: analyze underlying causal factors • 5 Whys: a question-asking method used to explore the root cause underlying a particular problem Step 3. Development of alternatives: develop possible alternative solutions that will respond to the needs of the situation and correct the underlying causes Step 4. Selection of desired alternative: best alternative is one in which the solution best fits the firm's overall goals and values and achieves the desired results using the fewest resources • Risk propensity: willingness to undertake risk in exchange for the opportunity of gaining an increased payoff Step 5. Implementation of chosen alternative: the use of managerial, administrative, and persuasive abilities to ensure that the chosen alternative is carried out Step 6. Evaluation and feedback: gather information to determine how well the decision was implemented and whether it achieved its goals
decision-making steps
What decision style prefer simple, clear-cut solutions to problems?
directive style
T/F Defining operational goals and plans occurs in the execution phase of the organizational planning process.
false
blueprint for goal achievement specifying the necessary resource allocations, schedules, tasks, and other actions
plan
Useful for nonprogrammed decisions when conditions are uncertain, information is limited, and there is manager conflict about goals to pursue or action to take • Resembles the real environment coalition
political model
used when a company expands by acquiring a business similar to the one it is already in. Procter & Gamble's purchase of Pantene from Hoffmann-La Roche is an example of this
related diversification.
Enterprise Rent-A-Car, in an attempt to lessen ____________ purchased National Car Rental and Alamo Rent A Car.
rivalry among competitors
forecasting technique that looks at current trends and discontinuities and visualizes future possibilities
scenario building
Imagine that the American Red Cross Board of Governors sets a goal of increasing online donations by 15 percent year over year for the next three years. They view this goal as very challenging but achievable. Why might the organization's leaders set such an ambitious goal? Check all that apply. A. To meet goals well beyond what has been accomplished before, members of the organization often find creative and innovative ways to do things. B. Highly ambitious goals can inspire employees and volunteers. C. Setting a goal that seems impossible to many will cause less motivated employees to quit the organization, raising the average level of performance. D. Stretch goals are a way to maintain results while making incremental improvements, ensuring that stakeholders feel comfortable with the organization's direction.
A & B A. To meet goals well beyond what has been accomplished before, members of the organization often find creative and innovative ways to do things. B. Highly ambitious goals can inspire employees and volunteers.
Managing a virtual team poses special challenges. How can a virtual team leader build relationships across distances? Check all that apply. A. Encourage social networking in which team members share personal information. B. Highlight diverse skills and express appreciation of varying opinions. C. Make sure all team members have a way to stay up-to-date. D. Recognize that some people are not online much and do not set standards for response times.
A, B, & C A. Encourage social networking in which team members share personal information. B. Highlight diverse skills and express appreciation of varying opinions. C. Make sure all team members have a way to stay up-to-date.
Dave and Betsy have run Kozy Korner for many years, and from that experience they feel knowledgeable about the most likely threats to the business. However, experience has also taught them that completely unexpected events can happen. How can they prepare for the unexpected? A. Engage in scenario building to brainstorm all possible disruptive events. B. Develop a contingency plan for every adverse event the industry has experienced in the past. C. Extend current trends into the future to predict changes in the business environment. B. Ignore the unknown, since by definition one cannot prepare for events that cannot be predicted.
A. Engage in scenario building to brainstorm all possible disruptive events.
The Boston Beer Company, Inc. manufactures Sam Adams beer and other alcoholic beverages such as hard cider, malt beverages, and hard seltzer. The company also owns a number of sub-brands, including The Traveler Brewing Company and the Coney Island Brewing Company. A SWOT analysis for the Boston Beer Company found the following: •Strengths. Strong brand — Sam Adams is a well-known and well-respected brand among craft beers. Strong cash position — The Boston Beer Company, Inc. has a good deal of cash, which will allow it to expand into new areas. Strong distribution network — The distribution network for the Boston Beer Company, Inc. is widespread, and it can reach the vast majority of potential markets. •Weaknesses. Financial planning — The company could use its cash more efficiently than it is doing now. Weak technology — The company needs to adopt new technology that will help it expand into different locations and products more effectively. Reputation as a "craft beer" — As the company has grown and started manufacturing products like hard cider, fewer and fewer people see it as a craft beer manufacturer. In fact, some people think that Sam Adams is produced by a mass market beer company like Budweiser. •Opportunities. Purchase opportunities — Existing cash reserves and the increase in new craft beer and specialty alcoholic beverage companies provide acquisition opportunities for The Boston Beer Company. Changing consumer behavior — Younger drinkers are becoming more interested in low-alcohol beverages like hard cider and hard seltzer. Also, COVID-19 pandemic has increased consumption of alcoholic beverages. Declining interest rates — Allow the Boston Beer Company to borrow money at a lower cost than previously. •Threats. Intense competition — The Boston Beer Company faces competition from both large and craft brewers, and there are more and more breweries in the U.S. every day. Hops shortages — The U.S. hops market fluctuates regularly. Some years are up, while others are down. At some point in the near future, it will be harder and more expensive to get hops, a key ingredient in beer. Lawsuits — The Boston Beer Company has been sued in the past by people criticizing their use of specialized names for products that critics considered to be mislabeled. Given the SWOT analysis above, which of the following strategies makes the most sense for the Boston Beer Company?
Purchase a manufacturer of spiked lemonade with a growing customer base.
Which Management by objectives step would this be? On September 30, the manager reports that call center hold times for the summer construction season averaged 42 seconds, with 30 percent of all calls not being put on hold at all but 2 percent of calls exceeding 90 seconds of hold time. The plan is rated mostly successful.
appraising performance
Cell phone service providers can weaken the ___________________ by requiring customers to sign service agreements that lock them into a two year contract with hefty fines if they switch providers.
bargaining power of buyers