MGMT 3830 Misc Gurr

38. Consumer electronics (laptops, personal devices etc.) are an example of: @Pages and References: Pages 369-371 a. A multi-domestic industry b. A global industry c. A trading industry d. The phishing industry

B

21. The internal environment: @Pages and References: Pages 111-114 a. Is the structure inside an industry b. Has become less important as an explanation of firms' profitability c. Is how a firm's resources and capabilities are deployed to deliver its business strategy d. Can safely be left to the HR Department to manage

C

28. Two mechanisms promote internationalization: @Pages and References: Pages 362-364 a. Inter-governmental bond borrowing, and inter-bank capital flows b. Inter-bank capital flows and trade c. Inter-bank capital flows and direct investment d. Direct investment and trade

D

45. The bargaining power of suppliers is likely to be high: @Pages and References: Pages 70-73 a. When the suppliers' industry is concentrated b. When suppliers are supplying differentiated products c. When "our" (the customer's) industry is relatively fragmented d. All of the above

D

22. A long-term underlying cause of the financial crisis was: @Pages and References: Pages 459-462 a. 'Light touch' regulation which encouraged financial innovation b. Lehman Brothers c. Increased lending by Chinese savers d. Governments selling CDOs

A

30. Today's high levels of interconnectedness result from high levels of: @Pages and References: Pages 465-466 a. Global trade, interest and exchange rate flexibility, and speed of communication b. Global trade, unemployment and inflation c. Government and private sector debt, and today's high speed of communication d. Answers b and c

A

41. The basis of entering a new industry at the Introduction phase is: @Pages and References: Pages 223-224 a. Effective product innovation b. Effective process innovation c. Effective promotional material d. Effective sales people

A

42. Business strategy can be summarized as: @Pages and References: Pages 17 a. The means by which organisations achieve their long-term objectives b. The means by which individuals achieve their objectives c. The formal detailed plans used by organizations to guide their actions d. The will of top managers to change their organization

A

48. Porter's national diamond identifies some factors that: @Pages and References: Pages 373-375 a. Determine a country's competitive advantage for a sector b. Determine a country's national income c. Determine the growth rate of a country's national income d. Determine the growth rate of its exports

A

57. Standards are important in an industry because: Pages and References: Page 277 a. They underpin interoperability (where relevant) and facilitate industry growth b. Every industry needs a market leader c. They are imposed by the government and have the force of law behind them d. Most industries cannot effectively function without standards

A

24. A firm's ability to turn change in its external environment into profit: @Pages and References: Pages 175-176 a. Requires just one key resource: information b. Depends on its ability to respond by changing its capabilities appropriately c. Is the test of a Sustained Focus strategy d. Is always measured by its market share

B

28. A dominant design is: @Pages and References: Pages 214-220 a. One which has won the most industrial design awards b. An emergent de facto industry standard broad product format c. The one advertised most strongly by the market leader d. The latest new product which gains the most media attention

B

36. A matrix structure means a firm is formally organized by: @Pages and References: Pages 431-433 a. Executive Committees b. Products, geography and functions simultaneously c. Products, functions and structure simultaneously d. Either of answers a or c

B

37. An adhocracy describes the kind of structure found in: @Pages and References: Page 434 a. A modern retail chain of supermarkets b. A research lab or new product development group - such as much of Google or Microsoft c. A prestigious firm of Latin-speaking lawyers d. A private hedge fund of financial traders with clear trading rules and limits

B

49. 3M's parallel structure: @Pages and References: Page 476 a. Was consciously designed in 1912 b. Involves employees working on projects in their own private time, but turning these into official projects if they show real promise c. Is known elsewhere as a matrix structure d. Involves people being employed in either a 'staff' or a 'line manager' position

B

49. Schein says that corporate culture can be understood: @Pages and References: Page 442 a. At three levels: artificial constructs, values and explicit statements b. At three levels: artefacts, values and tacit beliefs c. As being at the intersection of personal, corporate and national values d. The acme of inimitable competitive advantage

B

67. One huge problem with vertical integration of activities with only one major sellable output is: @Pages and References: Pages 335-338 a. The company will be too large to manage efficiently b. The entire integrated value-chain is subject to the same single market risk c. Upstream stages are isolated from market forces d. It's no longer possible to use external suppliers

B

68. Invention and innovation: @Pages and References: Page 284 a. Are closely related, so the same ingredients to success are required for both b. Are related - but invention requires creativity whereas innovation requires subsequent cross functional collaboration c. Are best performed by a single, integrated team d. Are a cultural phenomenon which must be inculcated into the entire workforce

B

26. If top management understands the customers, suppliers, competitors and the general environment then: @Pages and References: Pages 53-56 a. It will be a successful company b. A successful strategy will emerge from these factors c. This is a good basis for assessing the industry, but has little bearing on predicting the success of an individual company d. They can save money by not employing management consultants

C

27. A new industry life cycle begins when: @Pages and References: Pages 214-220 a. A very large gap in the market emerges b. Another industry dies c. New knowledge manifests itself in the guise of a sufficiently radical product innovation d. There are sufficient entrepreneurs

C

28. Apple's ITunes success was an example of: @Pages and References: Pages 176-179 a. A great new IT product: compatible hardware, software and content all working together b. The decline of the conventional recorded music industry c. An innovative and legal business model replacing the conventional (legal) recorded music business model d. Apple's non-stop stream of wacky gimmicks

C

32. Ways to group employees in international multiproduct companies include by: @Pages and References: Pages 427-428 a. Geography, Products, Processes, and People b. Geography, Products, Tasks and People c. Geography, Products, Tasks and Processes d. Geography, Products, Stars and Cash Cows

C

35. In a multidivisional structure each division is responsible for: @Pages and References: Pages 430-431 a. A major market or country b. A major function or task of the firm c. All functions necessary to produce one range of products d. Either of answers a or b

C

42. The overall bargaining power of buyers depends on: @Pages and References: Pages 68-70 a. The buyer's price sensitivity b. The intensity of rivalry among sellers and the willingness of the buyer to exploit this c. The buyer's price sensitivity and the relative bargaining power between the seller and the buyer d. The intensity of rivalry among buyers and the ability to vertically integrate

C

58. Not-for-profit organisations: @Pages and References: Pages 228-236 a. Are required by law not to make any profit b. Avoid making profits as far as possible c. Often do make profits (called a surplus), but these are re-invested in the organisation d. Must explain any profit they inadvertently make to the government

C

68. Transnational corporations (TNCs) differ from multinational corporations (MNCs) in that: @Pages and References: Pages 397-399 a. They have different kinds of internal financial reconciliation processes b. TNCs are a globally integrated network of independent profit centers c. TNCs are a globally integrated network of independent resources and capabilities d. There is no real difference

C

29. "Strategic innovation" involves: @Pages and References: Pages 176-179 a. Limitless financial and organizational resources b. Spending more on Research & Development than your competitors c. Top managers' total dedication to achieving timely innovations d. Pioneering in at least one of the three dimensions: new industry, new customer segment, or new source of competitive advantage

D

30. The coordination problem is: @Pages and References: Pages 424-426 a. Aligning the outputs of different divisions in a group b. Harmonizing the conflicting requirements of marketing, financial and operational plans c. Uniting the conflicting goals of all the firm's stakeholders d. Unless employees coordinate their efforts nothing will get produced

D

31. The strategic worry about short-termism is that: @Pages and References: Pages 466-467 a. Managers focus on short-term sales targets and are not concerned about profits b. Managers focus too much on short-term economic conditions and not on profits c. Managers focus too much on immediate operations, and not on strategic issues d. Managers focus too much on headline profitability and not enough on the underlying causes of it

D

34. A barrier to entry is: @Pages and References: Pages 63-66 a. Anything that facilitates the entry of would-be new entrants in a specific industry b. Capital requirements, cost advantages, and product differentiation c. A law restricting trade d. Anything that makes entry into an industry as a new competitor more difficult, more costly, slower or even impossible

D

36. Multi-domestic industries: @Pages and References: Pages 369-371 a. Are distinguished by their focus on products for the domestic sector b. Have very high transport costs c. Supply standard products around the world with instructions in the local language d. Internationalize though direct investment

D

37. Economies of scale are a barrier to entry because: @Pages and References: Pages 63-66 a. New entrants do not know where they are positioned on their learning curve b. New entrants do not yet understand the scale economies so they cannot precisely determine their selling price c. New entrants face a risk of price retaliation from the incumbents which could occur immediately on a large scale d. New entrants face the cost and risk of creating large scale capacity to start with or a severe cost disadvantage if they enter on a smaller scale

D