MGMT Exam 2: Practice Questions
Organizational development _________. a. requires a steering committee b. takes a short-term approach to change c. is a philosophy and collection of planned change interventions d. assumes that top management support is not necessary for change e. is accurately described by all of these
c. is a philosophy and collection of planned change interventions
The ____ is a regional trade agreement that liberalizes trade between countries more than any other such agreement. a. Free Trade Area of South America b. North American Free Trade Agreement c. Maastricht Treaty of Europe d. Association of South East Nations e. Asia-Pacific Economic Cooperation agreement
b. North American Free Trade Agreement
A multinational company that acts with ____ has offices, manufacturing plants, and distribution facilities in different countries all which run based on the same rules, guidelines, policies, and procedures. a. policy certainty b. global certainty c. regiocentrism d. global consistency e. global adaptation
d. global consistency
The ____ approach to managing innovation assumes that innovation is a predictable process made up of a series of steps and that compressing the time it takes to complete those steps can speed up innovation. a. compression b. prototypical c. milestones d. dialectical e. generational
a. compression
According to the text, which of the following is a pitfall of planning? a. the requirement for expensive employee training before plans can be effectively implemented b. the inability of organizational line personnel to accept the long-term benefit of planning c. a false sense of certainty based on faulty assumptions d. the acceptance of sacrificing solutions e. outsourcing
c. a false sense of certainty based on faulty assumptions
____ is the set of shared values and beliefs that affects the perceptions, decisions, and behavior of people from a particular country. a. National diversity b. Cultural diversity c. National mindset d. Cultural nationalization e. National culture
e. National culture
A situational analysis for a manufacturer of pet food might reveal which of the following facts. a. a growing cat and dog population in the US b. scientific research that indicates dogs need less calcium in their diet c. a less expensive, more nutritious brand of pet food d. a growing demand for gourmet pet food e. A SWOT analysis might reveal all of the listed issues
e. a SWOT analysis might reveal all of the listed issues
As direct competitors, UPS and FedEx would have _________. a. a low degree of market commonality b. a low degree of resource variability c. a high degree of resource synergy d. a low degree of competitive inertia e. a high degree of market commonality
e. a high degree of market commonality
Which of the following forms of organizing a global business help companies to avoid tariff and nontariff barriers to entry of a given foreign market? a. licensing b. franchising c. global joint ventures d. wholly owned affiliates e. all of these
e. all of these
Among companies who use the adaptive strategies, _______ blend the strategies used by __________. a. reactors; prospectors and analyzers b. analyzers; defenders and reactors c. prospectors; analyzers and reactors d. reactors; defenders and prospectors e. analyzers; defenders and prospectors
e. analyzers; defenders and prospectors
Tom Valerio was the point man on a major push to reinvent CIGNA Property & Casualty. His vision for CIGNA was to become a top-quartile, specialist property and casualty company. It was a radical proposition. Valerio was a(n) ____. a. change mentor b. change ombudsman c. intrapreneur d. staff moderator e. change agent
e. change agent
According to social psychologist Kurt Lewin, ____ lead to differences in the form, quality, or condition of an organization over time, while ____ support the status quo, or the existing state of conditions in an organization. a. generational changes; inertial changes b. change forces; inertial forces c. compressed changes; generational changes d. generational forces; resistance forces e. change forces; resistance forces
e. change forces; resistance forces
The ________ strategy is analogous to pruning flowers. a. repositioning b. stability c. growth d. retrenchment/recovery e. portfolio
d. retrenchment/recovery
________ are plans that will specify how a company will use resources, budgets, and people to accomplish specific goals within its mission. a. Tactical b. single-use c. dialectical d. strategic e. operational
a. tactical
Deutsche Bank is the largest bank in the world. Would this give it a sustainable competitive advantage? a. no, because large organizations are always targeted for anti-trust activities b. yes, because it would make its operations synergistic c. no, because size is not a criteria for sustainable competitive advantage d. no, because large institutions make more effective use of resources e. yes, because size is directly and positively related to efficiency
c. no, because size is not a criteria for sustainable competitive advantage
__________ can help organizations to maintain flexibility as they plan. a. group cohesiveness b. environmental munificence c. options-based planning d. liaisons e. formalization
c. options-based planning
According to the S.M.A.R.T. guidelines, goals should be _______. a. Measurable b. Service-oriented c. Rational d. Actionable e. Tactical
a. Measurable
Which of the following is NOT one of the rules for effective brainstorming? a. Select an open-minded group leader b. Criticism is not allowed c. Use other members' ideas to come up with more ideas d. The more ideas, the better e. All ideas are acceptable
a. Select an open-minded group leader
Tom Valerio was the point man on a major push to reinvent CIGNA Property & Casualty. His vision for CIGNA was to become a top-quartile, specialist property and casualty company. It was a radical proposition. During the organizational change, having this vision was especially important during the ____ stage. a. change b. unfreezing c. the change prototype d. change mobilization e. refreezing
a. change
Unverferth Manufacturing has been a manufacturer and supplier of innovative agricultural equipment since 1948. Recently it began developing a new 12-row subsoiler, which prepares 10-inch-wide seed beds spaced 40 inches apart. Before introducing the new tiller to the market, Unverferth developed and tested nearly three dozen product prototypes. Unverferth used ____ to produce the best possible tiller before introducing it to the market. a. design iteration b. service development c. process duplication d. process reengineering e. design compliance
a. design iteration
which of the following is a commonly used method for increasing goal commitment? a. encouraging worker participation in goal setting b. keeping goals private c. setting ethical goals d. using ombudsman to set goals e. all of these
a. encouraging worker participation in goal setting
Fran Wilson Creative Cosmetics is a medium-sized U.S. company that sells 1.5 million tubes of its lipstick annually in Japan. It has no physical presence within the country beyond the fact its products are sold there. Fran Wilson Creative Cosmetics uses ____ to reach the Japanese market. a. exporting b. franchising c. direct investment d. licensing e. a strategic alliance
a. exporting
When Clorox Corporation, the manufacturer of bleach and bleach-based cleaning products, acquired Kingsford Charcoal and Prime Choice brand steak sauce; it was an example of ____. a. external growth b. a repositioning strategy c. internal growth d. a stability strategy e. a pioneering strategy
a. external growth
The positioning strategies identified by Michael Porter are _______________. a. focus, cost leadership, and differentiation b. diversification, acquisition, and divestment c. defender strategy, diversification, and cost leadership d. divestment, cost leadership e. entrepreneurial, growth, and stability
a. focus, cost leadership, and differentiation
For options-based planning to work, the organization must ____. a. have slack resources b. use cross-functional teams c. have. broad spans of management d. use decentralization e. have tall organizational structures
a. have slack resources
The evidence clearly shows that ____ is the most important factor in determining the success or failure of an international assignment. a. how well an expatriate's spouse and family adjust to the foreign culture b. how willing the expatriate was to accept the foreign assignment c. the similarity of the foreign language to the expatriate's native language d. the amount of cross-cultural training provided to the expatriate e. the amount of language training provided to the expatriate
a. how well an expatriate's spouse and family adjust to the foreign culture
Sodima is a French cooperative that owns the name, the trade secrets, and the patents on Yoplait yogurt. General Mills pays Sodima for the right to sell Yoplait yogurt in the United States. This is an example of ____. a. licensing b. a global joint venture c. a strategic alliance d. exporting e. direct investment
a. licensing
Who is primarily responsible for developing operational plans? a. lower-level managers b. middle managers c. top managers d. staff advisors e. any of these
a. lower-level managers
______ planning keeps options open by making small, simultaneous investments in many alternative plans. a. options-based b. operant c. learning-based d. conditioned e. functional
a. options-based
A(n) _________ is a standing plan that indicates the general course of action that should be taken in response to a particular event or situation. a. policy b. procedure c. regulation d. rule e. heuristic
a. policy
Cost leadership, differentiation, and focus are the three types of ____ strategies discussed in the text. a. positioning b. grand c. portfolio d. niche e. restructuring
a. positioning
As Malta got ready for its admittance into the European Union (EU), all taxes on the importation of goods manufactured in Malta were eliminated. Malta was preparing to become part of a(n) ____. a. regional trading zone b. global market c. zone of ethnocentricity d. international cartel e. neutral trading area
a. regional trading zone
Deutsche Bank became the world's largest bank through mergers with Bankers Trust, a transatlantic banking operation. Since both banking companies had similar core capabilities, this would be classified as an example of ____. a. related diversification b. unrelated diversification c. competency acquisition d. an integrated acquisition e. related differentiation
a. related diversification
A(n) ____ is a direct tax on imported goods designed to make it more expensive to buy those goods, instituted in hopes of reducing the volume of those imported goods in a given country. a. tariff b. import subsidy c. non-tariff barrier d. boycott quota e. trade roadblock
a. tariff
The two general kinds of trade barriers are ________. a. tariff barriers and non-tariff barriers b. voluntary and involuntary barriers c. nationalistic and geocentric barriers d. qualitative and quantitative barriers e. government import standards and industry import standards
a. tariff barriers and non-tariff barriers
The purchase of new technologies to replace older ones is an example of ________. a. technological substitution b. innovative exchange c. dominant design d. design replacement e. adaptive change
a. technological substitution
According to John Kotter, which of the following actions will adversely influence refreezing efforts? a. the absence of a vision b. not removing obstacles to the company's new vision c. not creating a powerful enough guiding coalition d. declaring victory too soon e. all of these
a. the absence of a vision
When Coca-Cola discovered it had an unauthorized bottler selling Coke in the Colombian jungle, it used the rational decision making process to find a solution. What do you know about the stage in which Coke evaluated its possible courses of action? a. Coke found this stage to be the least expensive of all the stages b. Coke found this stage to be the most time-consuming of all the stages c. This stage was the last stage in the process for Coca-Cola d. This stage required Coke to use complex mathematical models e. None of these statements accurately describe this stage
b. Coke found this stage to be the most time-consuming of all the stages
The use of ____ in planning produces a false sense of certainty and is often cited as one of the major pitfalls of planning. a. commitment b. assumptions c. benchmarking d. detachment e. tactics
b. assumptions
An organization is experiencing ____ when it is reluctant to change strategies or competitive practices that have been successful in the past. a. sustained competitive disarray b. competitive inertia c. competitive dissonance d. strategic dissonance e. strategic inertia
b. competitive inertia
According to Hofstede's research on cultural dimensions, ____ cultures emphasize the importance of relationships, modesty, caring for the weak, and quality of life. a. masculine b. feminine c. individualistic d. relationship-oriented e. economic-based
b. feminine
Hofstede's research has shown that there are ____. a. direct relationships existing between type of infrastructures and growth potential b. five consistent dimensions of cultural differences across countries c. no cultural differences among nations in which Spanish is the national language d. two distinct methods for dealing with cultural differences--adaptation and continuation e. four factors upon which a company should base its decision to globalize
b. five consistent dimensions of cultural differences across countries
Protectionism is the use of trade barriers to protect local companies and their workers from ____. a. international unions b. foreign competition c. trademark infringements d. patent violations e. all of these
b. foreign competition
New companies with sales, employees, and financing in different countries that are found with an active global strategy are called ____. a. strategic alliances b. global new ventures c. wholly owned affiliates d. subsidized corporations e. franchisees
b. global new ventures
Companies can achieve growth mainly by __________. a. shrinking the scope of their business b. growing internally through direct expansion or creating new businesses c. deleting all cash cows from their portfolios d. only maintaining stars in their portfolios e. doing all of these
b. growing internally through direct expansion or creating new businesses
Which of the following must be met if a firm's resources are to be used to achieve a sustainable competitive advantage? a. related diversification b. imperfectly imitable resources c. differentiation d. unrelated diversification e. a matrix organizational structure
b. imperfectly imitable resources
Nestlé is a company headquartered in Switzerland with manufacturing plants in Columbia, Australia, Canada, Egypt, Kenya, and more than 90 other nations. Nestlé is an example of a ____. a. ethnocentric organization b. multinational corporation c. macro-marketer d. acculturated corporation e. multidomestic global company
b. multinational corporation
When making travel plans, many tourists have selected Thomas Cook, a British tour operation, because they perceive that no other tour company can duplicate the customer service and satisfaction that Thomas Cook has provided over its years of operation. Thomas Cook has apparently created a sustainable competitive advantage by using ____ resources. a. synergistic b. non-substitutable c. valuable d. rare e. tangible
b. non-substitutable
Budgets are an example of ____ planning.
b. operational
The basic purpose of __________ planning is to leave commitments open by maintaining slack resources. a. traditional planning b. options-based planning c. operant planning d. learning-based planning e. the establishment of planning windows
b. options-based planning
Which of the following is a possible outcome of planning? a. Planning may lead to a mechanistic organizational chart b. Planning may harm individual and organizational performance c. Planning can eliminate the need for formalization d. Planning will allow the company to know about all changes in its external environment e. All of these are possible outcomes of planning
b. planning may harm individual and organizational performance
A _______ exists when there is a gap between a desired state (what managers want) and an existing state (the situation that the managers are facing) a. benchmark b. problem c. service gap d. minimum threshold e. condition of uncertainty
b. problem
A cosmetics company that is considering entering the South American market would be especially interested in the discretionary income within that region. In other words, which of the following would be a determining factor in its global strategy? a. sociocultural trends b. purchasing power c. expropriation potential d. infrastructure e. political uncertainty
b. purchasing power
_________ is a systematic process of defining problems, evaluating alternatives, and choosing optimal solutions. a. benchmarking b. rational decision making c. problem identification d. multivariable selection e. keystoning
b. rational decision making
At a canning factory, new employees were instructed never to wear loose-fitting clothes when working around the canning machine. What kind of standing plan is described in this example? a. organizational norms b. rules and regulations c. security governances d. procedures e. policies
b. rules and regulations
Which of the following is one of the sources of resistance to change? a. a dynamic organizational culture b. self-interest c. discontinuous innovation d. sustainable status quo e. multifunctional teams
b. self-interest
The use of milestones in the experiential approach to innovation ____. a. serves to eliminate manufacturing bottlenecks b. shortens the innovation process c. creates incrementally sustainable advantages d. virtually eliminates problems associated with the control function of management e. does all of these
b. shortens the innovation process
As Malta got ready for its admittance into the European Union (EU), the EU removed all taxes on the importation of goods manufactured in Malta. In other words, the EU abolished ____ for Malta-manufactured merchandise. a. boycotts b. tariffs c. import standards d. customs classifications e. import quotas
b. tariffs
Kodak is a company associated with photography. The development of the digital camera forced Kodak into the innovation stream because the new imaging process was a(n) ____. a. technological subtraction b. technological discontinuity c. example of design advantage d. process addition e. process obsolescence
b. technological discontinuity
The development of the DVD player was a source of ____ to companies in the movie industry just as VHS tapes had once been. a. creativity reengineering b. technological discontinuity c. technological replacement d. a sustainable competitive advantage e. planned shrinkage
b. technological discontinuity
In terms of innovation streams, what ____ occurred when customers purchased flat-screen computer monitors to replace the older, bulkier monitors. a. technological expansion b. technological substitution c. the pioneering era d. demarketing e. reengineering
b. technological substitution
The three steps in the basic process of managing organizational change outlined by Kurt Lewin are ____. a. change definition, change motivation, and change b. unfreezing, change intervention, and refreezing c. organizational change, departmental change, and individual change d. synthesizing, motivating, and rewarding e. change definition, change mobilization, and change acceptance
b. unfreezing, change intervention, and refreezing
_______ is the emotional reaction that can occur when disagreements become personal rather than professional. a. organizational disharmony b. emotive empowerment c. A-type conflict d. C-type conflict e. norm disruption
c. A-type conflict
When significant improvements in performance can ONLY be gained through radical new designs or new performance-enhancing materials, it is likely that a company is ____ in the S-curve pattern of innovation. a. at its breakeven point b. at either the beginning or end of the innovation cycle c. at the end of the innovation cycle d. at the problem identification stage of the innovation cycle e. at the end of its maturity stage
c. at the end of the innovation cycle
Planning works best when the goals and action plans at the ____ of the organization support the goals and action plans at the ____ of the organization. a. group level; individual level b. top and middle; bottom c. bottom and middle; top d. bottom and top; middle e. staff level; line level
c. bottom and middle; top
____ is the measure of the intensity of competitive behavior between companies in an industry. a. Product substitutability b. Benchmarked rivalries c. Character of the rivalry d. Competitive barrier e. Character of culture
c. character of the rivalry
It is appropriate to use a(n) ____ approach to manage innovation in more certain environments during periods of incremental change, in which the goals are lower costs and incremental improvements in the performance and function of the existing technological design. a. experiential b. prototypical c. compression d. milestones e. reinforcement
c. compression
A(n) ____ is a resource that is impossible or extremely costly or difficult for other firms to duplicate. a. nonsubstitutable b. rare c. imperfectly imitable d. strategically dissonant e. reliable
c. imperfectly imitable
In Canada, two automobile companies have entered into a ____ to create CAMI Automotive. One firm's management runs the plant, which makes the other's cars. The agreement gives one access to the other's dealers to sell its brand of vehicles. a. licensing agreement b. subsidiary arrangement c. joint venture d. exporting agency e. cooperative contract
c. joint venture
Which of the following factors helps a company determine the growth potential of a foreign market? a. political uncertainty b. type of infrastructure c. purchasing power d. natural boundaries e. land availability
c. purchasing power
The purpose of pre-departure language and cross-cultural training is to ____. a. cater to employees who require affective learning b. encourage job specialization c. reduce the uncertainty for those becoming expatriates d. increase job empathy e. avoid legal problems in the future
c. reduce the uncertainty for those becoming expatriates
In 2000, the United States imposed a tax on all steel imports in an effort to protect about 5,000 jobs. This tax is an example of a(n) ____. a. subsidy b. financial boycott c. tariff d. import duty e. voluntary import restraint
c. tariff
Kodak is a company associated with photography. The development of the digital camera forced Kodak into the innovation stream because the new imaging process was a(n) ____. a. technological subtraction b. process obsolescence c. technological discontinuity d. process addition e. example of design advantage
c. technological discontinuity
An innovation stream moves from one technology cycle to another through the process of ____. a. organizational synergy b. incremental environmental change c. technological substitution d. transition management e. dominant design
c. technological substitution
Ernst & Young, an international accounting and management consulting company, entered Hungary first by establishing a joint venture with a local firm. Ernst & Young later acquired the company with which it had the alliance. As a result Ernst & Young then had a(n) ____ in Hungary. a. licensing arrangement b. export agency c. wholly owned affiliate d. cooperative contract e. franchise
c. wholly owned affiliate
Ford Motor Company owns and operates a $1.9 billion manufacturing plant in Brazil. What method for organizing for global business has Ford used in this example? a. joint venture b. cooperative contract c. wholly owned affiliate d. strategic alliance e. strategic franchise
c. wholly owned affiliate
Which of the following statements about resistance to change is true? a. Resistance to change disappears when the organization operates in conditions of certainty. b. Resistance to change will not occur when those affected by the change participate in its planning and implementation. c. Resistance to change will not occur when change efforts receive significant managerial support. d. Resistance to change will always occur; it is inevitable. e. Resistance to change will not occur when employees are educated about the need for change.
d. Resistance to change will always occur; it is inevitable.
____ refers to the production of novel and useful ideas. a. Organizational adaptation b. The synergistic use of resources c. Ideation d. Creativity e. Innovative style
d. creativity
Hewlett-Packard is currently exploring new products and markets through the development of digital imaging products in its plants in India, South Africa, and the United States. To jump-start this innovative process, Hewlett-Packard can ____ across all of its plants around the world. a. manage flow through the use of Gantt charts b. concentrate on dominant design and ignore incremental design c. engage in creative reciprocity d. establish creative work environments e. do none of these
d. establish creative work environments
As a company that manufactures janitorial cleaning supplies tries to develop more environmentally -friendly products that can clean as well as its current ones, the company's manager must select among alternatives derived from oranges, parsley, lemon, or a combination of these ingredients. This is the _______ step in the rational decision-making model. a. compute the optimal decision b. satisfy each alternative c. bounded rationality d. evaluate each alternative e. generate alternative courses of action
d. evaluate each alternative
When Coca-Cola acquired a water-treatment and bottling plant so it could produce and market Dasani brand bottled water, it was an example of ____. a. retrenchment strategy b. repositioning strategy c. internal growth d. external growth e. niche marketing
d. external growth
Which of the following types of global organization is most likely to suffer problems associated with being culture bound? a. licensing b. joint ventures c. wholly owned subsidiaries d. franchising e. global new ventures
d. franchising (franchises are usually built for their home market, obviously global market can be very different)
The two major approaches to corporate-level strategy are ________. a. portfolio and secondary b. major and minor c. grand and temporal d. grand strategies and the portfolio strategy e. the Boston matrix and the Maslow strategy
d. grand strategies and the portfolio strategy
For options-based planning to work, the organization must ______ a. use decentralization b. have broad spans of management c. have tall organizational structures d. have slack resources e. use cross-functional teams
d. have slack resources
During the ____ phase of a technology cycle, companies innovate by lowering the cost and improving the functioning and performance of the dominant design. a. dominant design b. discontinuous change c. technological discontinuity d. incremental change e. technological continuity
d. incremental change
Patterns of innovation over time that can create sustainable competitive advantage are called ____. a. results-driven change b. cyclical inventions c. innovation maps d. innovation streams e. organization development
d. innovation streams
According to the text, valuable, rare, imperfectly imitable resources can produce sustainable competitive advantage only if they are ____ resources. a. reliable b. expensive c. imitable d. non-substitutable e. substitutable
d. non-substitutable
Because of slowing sales, Arm & Hammer started promoting innovative uses for its baking soda. By searching for new market opportunities, the manufacturer of Arm & Hammer is using which type of adaptive strategy? a. analyzing b. defending c. reacting d. prospecting e. cost leading
d. prospecting
Russia imposed limits on how much poultry, beef, and pork could be imported into the nation from the European Union (EU) in retaliation to limits the EU placed on how much grain Russia could export. What type of nontariff barrier did Russia use to control the amount of poultry, beef, and port it imported from the EU? a. customs classifications b. duties c. boycotts d. quotas e. subsidies
d. quotas
Which of the adaptive strategies tends to result in the poorest performance? a. defenders b. niche marketers c. analyzers d. reactors e. prospectors
d. reactors
One method of weighing decision criteria uses ____, which is a process where each decision is compared directly to every other criterion. a. minimum threshold rule b. absolute comparisons c. comparative ranking scales d. relative comparisons e. valences
d. relative comparisons
________ forces support the status quo. a. Experiential b. Dialectical c. Autonomous d. Resistance e. Generational
d. resistance
Companies that are following a ____ strategy would be most likely to try to improve the way in which they sell the same goods or services to the same customers. a. retrenchment/recovery b. growth c. portfolio d. stability e. pioneering
d. stability
The _______ is a type of operational plan that saves managers time because it is created once and then used repeatedly to handle frequently recurring events. a. multiple-use plan b. options-based plan c. budget d. standing plan e. forecast
d. standing plan
Specialized Bicycle Components, Inc. introduced the first major production mountain bike in 1980. Since then, the company has maintained a technological leadership in the production of bike and bike accessories and an organizational culture that encourages innovation. Technological leadership, as well as its organizational culture, are the company's ____. a. organizational advantages b. customer sustainability c. relative competencies d. superlative advantages e. core capabilities
e. core capabilities
The General Agreement on Tariffs and Trade (GATT) ____. a. decreases both tariffs and nontariff barriers b. puts stricter limits on government subsidies c. eliminates tariffs in ten specific industries d. protects intellectual property, such as trademarks, patents, and copyright e. does all of these
e. does all of these
One of the benefits of planning is how it _______. a. encourages people to work faster b. encourages people to try a variety of different way to do other's jobs c. reduces employee turnover d. eliminates all discriminatory practices e. does none of these
e. does none of these
Which of the following is NOT one of the five industry forces that determine an industry's overall attractiveness and potential for long-term profitability? a. threat of substitute products b. bargaining power of suppliers c. character of the rivalry d. bargaining power of buyers e. existing complementary products
e. existing complementary products
When incremental improvements are made to a dominant technological design such that the improved version of the technology is fully backward compatible with the older version, ____ is said to have occurred. a. a milestone b. intuitive change c. discontinuous innovation d. coercive change e. generational change
e. generational change
The Japanese government has proclaimed that its snow is different from that found in any other region of the world and as a result ensures that all snow skis marketed for sale in Japan must be manufactured in Japan. This is an example of a(n) ____. a. voluntary export restraint b. subsidy c. government subsidy d. tariff e. government import standard
e. government import standard
A(n) ____ resource is a resource that is not controlled or possessed by many competing firms. a. permanent b. strategically dissonant c. nonsubstitutable d. imperfectly imitable e. rare
e. rare
_______ are the assets, capabilities, processes, information, and knowledge that an organization uses to improve its effectiveness and efficiency, to create and sustain competitive advantage, and to fulfill a need or solve a problem. a. competitive advantages b. distinctive competencies c. strategic stances d. grand strategies e. resources
e. resources
Which of the following is the most specific type of standing plan? a. MBO plans b. forecasts c. procedures d. policies e. rules and regulations
e. rules and regulations
Unverferth Manufacturing makes agricultural equipment. It used finite element analysis (FEA) software to speed up the design cycle for its 12-row sub-soiler. Which aspect of the compression approach to innovation would the use of this software apply? a. functional isolation b. planning c. multifunctional teams d. supplier involvement e. shortening the time of individual steps
e. shortening the time of individual steps
For companies whose main products will not be seen by consumers and whose skills lie in productivity anonymity, a ____ could be to create a brand image to create a distinctive competence. a. core advantage b. tactical benchmark c. competitive sustainability d. strategic mission e. strategic reference point
e. strategic reference point
A department store is experiencing greater than usual losses due to theft and management wants it stopped. Middle management decided to hire a security company to study the problem and develop the best plan for dealing with it. Middle management have implemented a(n) ____ plan. a. operational b. strategic c. visionary d. contingency e. tactical
e. tactical
____ is responsible for developing strategic plans that make clear how the company will serve customers and position itself against competitors in the next two to five years. a. middle management b. planning staff c. an action team d. a change agent e. top management
e. top management