Management 3000 Exam 2

ABC Products has a highly vertical organizational structure that is designed to generate a high degree of standardization and control. ABC Products can be described to have which of these structures?

Mechanistic

According to the BCG Matrix, business units that have a low market share but are in a high growth market are called ______.

Question marks

Exporting is one of the easiest ways to go international.

True

Which of these represents the final step in Kotter's Change Model?

anchor the changes

Which of the following represents the broadest level of strategy, and is concerned with decisions about growing, maintaining, or shrinking very large companies?

corporate strategy

Interest rates and exchange rates are part of which element of PESTEL?

economic

Which of the following defines those markets in nondeveloped countries that present tremendous potential for multinationals?

emerging markets

_____do not own their own companies but apply their creativity, vision, and risk taking within a large corporation rather than starting a company of their own.

intrapreneurs

"M" in SMART Framework refers to which of these?

measurable

are entrepreneurs who start a series of companies

multipreneurs

In the GLOBE project, Denmark and Finland are part of which country clusters?

nordic europe

Angel investos:

provide funding for startup businesses

Privately owned and managed _____ are licensed by the SBA and provide long-term financing for small businesses.

small business investment companies

At _____ stage of the organizational life cycle, it becomes appropriate to introduce mechanistic structures that support the standardization and formalization required to create effective coordination across the organization.

survival and early success

Which of the following remains the world's dominant religion, representing around 31% of the world's population?

Christianity

______ refers to deliberate efforts of a country or company to invest in another country through the form of ownership positions in companies in another country.

FDI

Compare to Hofstede, the only two cultural dimensions unique to the GLOBE project are performance orientation and future orientation.

False

Direct Small Business Administration (SBA) loans are made from funds set aside each year by Congress.

False

FDI is a contractual agreement whereby, in exchange for a royalty or fee, a company gives the right to another company to use a trademark, know-how, or other proprietary technology.

False

Organizational design refers to the constant shifts that occur within an organizational system.

False

Which of the following describes an officially defined set of relationships, responsibilities, and connections that exist across an organization?

Formal organization

XY Deliveries, a package delivery company, is organized as XY North, XY South, XY East, XY West, and XY Central divisions in the United States. Which of the following best describe the structure at XY Deliveries?

Geographic structure

Demographic trends and market diversity are part of which element of PESTEL?

Sociocultural

"S" in SMART Framework refers to which of these?

Specific

Entrepreneurs as a general group dislike risk taking

false

In a liaison role, a manager performs formal duties like greeting customers and signing contracts.

false

The SMART framework can be applied to business or personal goals. A good goal should be specific, measurable, applicable, rewarded, and time-bound.

false

The difference between small business owners and entrepreneurs is that small business owners:

accept the status quo and take a short-term view of the future

Which of the following best describe eBay's business model?

B2C

Kotter's change model aligns with mechanistic view of structure and thus it may be especially useful in organizations where there is a strong, hierarchical structure.

True

Strategic planning and implementation is perhaps the most common type of organization-level change.

True

In buying an existing business, the prospective buyer should ask questions about the operation of the business. Which of the following would be an inappropriate question to ask?

What are you going to do with the down payment?

Which of the following argues that leaders assume that people are inclined to embrace change when they are respected as individuals with intrinsic worth, agency, and capability?

appreciative mindset

The first step in starting your own business is the creation of a unique marketable idea

false the first step is starting your own business is a self-assessment

____ are entrepreneurs who apply their creativity, vision, and risk taking within a large corporation rather than starting a company of their own. They enjoy a high degree of autonomy while receiving a regular salary and financial backing from their employer

intrapreneurs

A business-level strategy is the framework a firm uses to organize its activities, and it is developed by the firm's top managers.

true

_______ change is unintentional and is usually the result of informal organizing.

unplanned change

According to Hofstede, which of the following is an implication of low uncertainty avoidance?

weak loyalty to companies

According to Hofstede, the degree to which members of a society accept differences in power and authority refers to which of these?

power distance

From a value chain perspective, _____ are the actions a firm takes to directly provide a product or service to customers, whereas, ______ are actions required to sustain the firm that are not directly part of product or service creation.

primary activities; support activities