MNGT 301 study exam 2

The article What is theory of your firm used AT&T as an example of

A company that never discovered a valuable corporate theory

According to the author of the article, "What is the Theory of your firm? what was Steve jobs greatest contribution to apple?

A corporate theory of value creation

According to Rita Gunther Mcgrath, the author of the article translent advantage which of the following are sets of misconceptions, or traps, which may exacerbate the challenge of strategy reinvention for a company

All of these

According to the textbook, decision making involves

All of these

Which of the following shifts was discussed in the article, "Pipelines, platforms and the new rules of strategy" as being part of the move from pipeline to platform

All of these

In her video lecture Dr. Kathy Farrell cited mission statements by the following organizations

American Express, nordstrom, workday, and TED

Party supply uses time time-series forecast, such as past holiday and the strength of store sales this year, to predict future sales based on patterns of historical data. Party supply is using

Analytics

Uri, a server in a popular family restaurant is the most popular employee with both customers and employees

Behavioral

____ is the idea that proposes that the ability of decision makers to be rational is limited by numerous constraints, such as complexity of time, cognitive capacity, values, skills, habits, and unconscious reflexes

Bounded rationality

an organizations ____ expresses the need the firm will fill, the operations of business, its components and functions, and the expected revenues and expenses

Business Model

The BCG matrix is a means of evaluating strategic business units based on

Business growth rates and share of the market

An organization's _____ expresses the need firm will fill the operations of business, its components and functions, and the expected revenues and expenses

Business model

The rational decision making is also called the

Classical

Nora is a small-business owner who loves to take risks. She also enjoys going out and meeting customers and potential clients—the social aspect of her job. Nora relies on intuition and discussions with others to acquire information. As an interior decorator, Nora utilizes her imaginative strengths, taking a broad perspective to problem solving, and she likes to consider many options and future possibilities. Nora's decision-making style is best described as

Conceptual

To compete within a specific business environment, Michael Porter suggested a company can adopt one of the following strategies, differentiation, ____ or focus

Cost leadership

When organizations endeavor (1) to keep their costs (and hence the prices of their products or services) below those of competitors and (2) to target a wide market they are utilizing a ____ strategy

Cost leadership

Steve Jobs realized that Apple's internal capability which was not critical to value creation was design. According to the author of the article what's the theory of your firm? This is an example of:

Cross sight

In thinking, fast and slow, _____ winner of 2002 Nobel prize in economics

Daniel Kahnman

Bradely was recently promoted to production manager of a busy shoe factory.

Directive

The following is a quote form this article, "how smart, connected products are transforming competition". "In mining, Joy global has shifted from optimizing across the fleet of equipment deployed in the min." according to the article, what phenomenon is this example illustrative of?

Expansion of industry boundaries

World Grocer sells high quality products and grocery items that are unique to its highly populated area, in addition, it offers delivery for customers who are unable to leave their home and a number of regular workships regarding healthy eating. By offering these types of products and services, world grocery is pursuing a _____ strategy

Focused differentiation

Which of the following provides a complete listing of porters competitive forces

None of these

which of the following would be used to outline a response to a particular circumstance?

Procedure

Which of the following refers to the planning decision making that leads to the establishment of the organizations goals and of a specific plan?

Strategy formulation

What does Rita Gunter McGrath, the author of the article "Translent Advantage" state regarding transitive advantage

Translent advantage is the new normal. Sustainable competitive advantage is now the exception, not the rule

According to the article " what is disruptive innovation?" disruptive innovations originate in low end or new market footholds

Uber is an example of sustaining innovation

_______ means expanding into businesses that either provide the supplies needed to make the company's products or that distribute and sell the company's products

Vertical integration strategy

The planning process begins with two attributes: a mission statement and a vision statement. What questions are answered with these?

What is our reason for being? What do we want to become?

Porters competitive strategies of cost leadership and differentiation focus on ____ material, while focus and focused differentiation strategies focus on ____ markets

Wide, Narrow

According to reid hoffman what keeps blitzscaling companies like paypal, google, and ebay together and functioning?

a sense of excitement about what's being created at the company and the vision of a great future

in the artcile blitzcalling which of the following ideas is not discussed

all of these were discussed

Daniel loves sales because he responds well to the pressure he faces in the many new or uncertain situations he encounters as a salesperson. Like most successful salespeople, he is high in tolerance for ambiguity, yet he struggles with making decisions quickly. Daniel likely has a ___ decision making style

analytical

which of the following is not given as a platform business expanding into new terrain to compete with pipeline firms in the article pipelines and the new rules of strategy

chipotle encroaching onto subways territory

Managers who have _____ decision style often make decisions quickly because they do not like to deal with a lot of information and may consider only one two alternatives

directive

According to the article What is Disruptive innovating what incumbent companies should not do to react to disruptive entrants

dismantle a still profitable business

Walt Disney realized that family friendly visual fantasy worlds had vast appeal. According to the author of the article, what is the theory of your firm this is an example of

foresight

Which of the following goals satisfies the smart criteria

in the next quarter our tucson sales rep will increase sales by 10 percent

the rational model of decision making

is prescriptive

in her video lecture dr kathy farrel cited the following college of business guiding principles or values, challenge yourself, ask bold questions, be inclusive, make it matter and

look to the future

during her lunch break one afternoon, Allison set a goal of achieving all her completed training in 90 days, taking 2 training sessions a week. What is she doing?

planning

This month, Susan, manager of Orbitz, has heard several complaints that her employees don't return calls. Today a good customer told Susan that my phone calls are returned after maybe a week or so. This new directive by alice is an example of a

policy

Based on the video lecture by Dr kathy farrel, how many tasks forces have been created as apart of the strategic planning process at the College of Business?

six

Which of the following statements did not appear in the article, How smart, connected products are transforming competition?

smart, connected products generally reduce the opportunities to product differentiation, gradually moving competition toward price

In the BCG matrix __ are companies that have high growth and high market share and are definite keepers

stars

Denise owns several computer repair shops across the midwest, and she has set a goal for her company of cutting costs in all her locations over the next three years. Denise has set a(n)

strategic goal

A manager sticks with a decisions he invested a lot of resources .... according to the textbook, what is this phenomenon called?

sunk cost bias

According to the textbook which of the following plans typically has a short time period than others

tactical plan

Michael porter proposed that business like strategies originate with the primary competitive forces in the firm's environment, these forces are the

threats of new entrants and substitute products or services, the

Research suggests that when writing out a plan to achieve your biggest goals. It is important

to identify your options and track your progress

based on video lecture Dr Kathy what is the college's current mission statement

together, we drive discovery, create opportunity and empower individuals to lead the future of business. We are nebraska business