MGMT 3013 EXAM 1
Which of the following IS NOT one of the five targets that Target wanted to hit?
create greater emphasis on national brands such as Tide
According to the text, the likelihood of entry of new competitors is most affected by ______ and _______.
-barriers to entry -expected retaliation of current industry organizations
From the video, in terms of the four criteria of sustainable competitive advantage, the unique organizational culture of Southwest Airlines is ______________.
organized to capture value
Harp's supermarkets compete with WalMart by using a differentiation strategy. Which of the following IS NOT a differentiating tactic?
pricing generic eggs at their cost
in order to turn Target around, CEO Brian Cornell decided to___________
sacrifice short term profit
The management model Jack Welch created at GE was described in the article as:
trust your gut shoot from the hip
At one point, railroads did a very good job of delivering passenger rail service. Over time, and as passenger service became less profitable, railroads continued to maintain the same service standards. Railroad passenger service had evolved into
Core rigidity
A current employee who is a candidate for a Board of Directors position is termed ______________
An Insider
One of the risks of a focus strategy is:
An industry competitor may decide to focus on more specific customer segments of your market
A current employee who is a candidate for a Board of Directors position is termed
An insider
According to the Cramer article, many U.S. industries have been impacted by the current trade war with China. Which two industries appear to not be affected by the trade war?
Apparel and industrials
In the article, Cramer says you can judge the progress of the trade talks by watching how China treats the "Three A's". Which of these ARE NOT one of the "Three A's"?
Automobiles
According to the article, after Microsoft dominated operating systems with Windows, its' next big success was:
Azure cloud computing system
To provide a sustainable competitive advantage, a capability must satisfy ALL of the following criteria, EXCEPT:
Be technologically innovative
According to the video, a firm that tries to be both a cost leader and a differentiator is pursuing a difficult strategy. They are in danger of:
Being stuck in the middle
roduct differentiation refers to:
Belief by customers that a product is unique
A firm's strategy is its _______ strategy
Business
Internal analysis enables a firm to determine what the firm:
CAN do
Which is NOT a factor affecting managerial discretion
Characteristics of the industry
At one point, railroads did a very good job of delivering passenger rail service. Over time, and as passenger service became less profitable, railroads continue to maintain the same service standards. ?Railroad passenger service ad evolved into a _______.
Core Rigidity
When resources and capabilities serve as a source of competitive advantage for a firm, the firm has created a(an):
Core competence
When resources and capabilities serve as a source of competitive advantage for a firm, the firm has created a(n):
Core competence
Tyson employees carry a "values card" with them. They also wear khaki uniforms with the Tyson logo on them. These are parts of Tyson's ____________
Corporate culture
Tyson employees carry a "values card" with them. They also wear khaki uniforms. These are part of Tyson's
Corporate culture
A differentiation strategy can be effective in controlling the power of substitutes in an indusry because:
Customers develop brand loyalty
A differentiation strategy can be effective in controlling the power of substitutes in an industry because:
Customers develop brand loyalty
Walmart has a sophisticated computer system called Retail Link. This system gives Walmart very detailed information about the sales in each of their location. In turn, this helps Walmart merchandise their stores according to the needs of the community it serves. They call this being a "store of the community". This type of industry analysis is:
Demographic
For more than 100 years, railroads enjoyed a monopoly in both freight service and passenger service. They readily moved from steam locomotives to diesel-electric ones. They added air-conditioning and other passenger amenities. After World War II, long distance rail passenger traffic declined steadily and significantly. The primary cause was the emergence of regular airline service. Airlines offered faster service, competitive pricing and more convenient scheduling. This is a classic example of
Disruptive Technology
Total Quality Management (TQM), allows firms to do all the following EXCEPT:
Enhance product branding
According to the video, the Dallas Cowboys are in the pro football industry. They are also in the ________ business
Entertainment
Examples of actions that leaders should take to develop an ethical organizational culture include all the following EXCEPT:
Focus on the most current and fashionable trends in ethical standards
If a CEO is going to change the corporate culture, he needs to do all of the following EXCEPT:
Get thorough input from knowledgeable consultants
If a CEO is going to change the corporate culture, he/she needs to do all of the following EXCEPT:
Get thorough input from knowledgeable consultants
There are ten major global auto manufacturers. Each company has its' own lineup of autos, SUV's, pickup trucks, etc. that are designed to compete in local as well as global markets. Sometimes the models are local adaptations of models that have been successful in other locales. Sometimes the models are designed for a specific market, such as China. Regardless, the competition is strong with regular adjustments in pricing and product features. This process is called __________ .
Global hyper-segmentation by type
According to the video, one activity that can impact the threat of retaliation in an industry is:
Government regulation
A stable strategy with innovation, calls for:
Heterogeneous organization with internal CEO
A stable strategy with innovation calls for:
Heterogenous organization with an internal CEO
According to the video, Business Strategy is:
How a company competes in its' own industry
According to the video, corporate strategy means:
How a company competes in its' own industry
n the airline business, loyalty programs that reward frequent fliers with points across all firms in the industry. Any significant changes that give temporary advantage to a competitor are quickly copied. These changes only offer a short-term advantage. Among the industry models we have studied, this type of resource mobility is characteristic of the____________ model
Industrial organization model
When Steve Ballmer ran Microsoft, his strategy was "Windows everywhere". Under new CEO, Satya Nadella, the company has been characterized by getting Microsoft services
Into every device possible
According to the video, all of these EXCEPT ONE, is an impact of globalization on most companies
Maintaining a companies corporate culture
In the article, the author points out that a leader has to show discipline to focus on allocating resources to the areas of greatest opportunity. Therefore the leader must _____________ to achieve the greatest success.
Make tradeoffs
Bubba is a great barbecue guy. However, he isn't really sure how to build awareness of his great barbecue products. So, he hires his fraternity brother Josh's company to build awareness for his place. In the value chain, Bubba has outsourced his
Marketing
Leroy is a Coors beer salesman. He goes into Grub's for his normal sales call and notices a new Core beer tap has been added. The beer is called Spring Harvest. Leroy tells his supervisor, Bubba about the new beer in Grub's. Bubba tells Leroy to keep an eye on how well the new beer sells and let him know. Bubba is asking Leroy to _______ the new beer
Monitor
Who are the most aggressive at pushing for younger board memberes?
Activist investors
According to one of the articles, one of the two reasons President Trump has imposed tariffs on China is:
Force China to quit stealing American intellectual properties such as patents and copyrights
According to the article, Alan Mulalley turned Ford around by:
Gathering input from people at all levels of the company
Value Chain analysis forces the company to focus on:
Valuable activities it can retain
According to the article on Snap Kitchen, the trick will be convincing more _______________ that healthy pre-packaged food is cool.
Young professionals
Bubba is opening a barbecue joint on Dickson St. He has a great location and a specially-built, infrared smoker that is the very latest design. Currently, none of his competitors have this type of smoker. In terms of the four criteria of competitive advantage, the smoker is:
A costly-to-imitate/non-substitutable capability
Bubba is opening a barbecue joint on Dickson Street. He has a great location and specially-built infrared smoker that is the very latest design. Currently, none of his competitors have this type of smoker. In terms of the four criteria of competitive advantage, the smoker is:
A rare capability.
Starbucks is a highly-successful company for several reasons. Using your knowledge of the resource-based model, how would you describe Starbuck's use of a custom grinder for their coffees?
A resource
product differentiation refers to
Belief by a customer that an item is unique
Tangible and intangible resources lead directly to the development of:
NOT -> capabilities
Rodney Razorback wants to sell Oklahoma craft beers in Arkansas. In order to do this, he has to get a license from the Arkansas Alcoholic Beverage Commission. They require him to post a $10,000 bond and fill out several tax forms. Rodney is really discouraged and probably won't try to sell beer in Arkansas because the taxes make it too expensive. The licensing requirement is:
barrier to entry
According to the text, the likelihood of entry of new competitors is most affected by _____ and _____.
barriers to entry, expected retaliation of current industry organizations
To provide a sustainable competitive advantage, a capability must satisfy ALL the following criteria EXCEPT:
be technologically innovative
According to the video, a firm that tries to be both a cost leader and a cost leader and a differentiator is pursuing a difficult strategy. They are in danger of:
being stuck in the middle
According to the article, there are three defining concepts that great strategists apply. Which of these IS NOT one of those principles?
build consensus
A fries strategy is its __ strategy
business
Because tariffs will drive the cost of Chinese products higher, President Trump feels that will encourage buyers to:
buy American
Which IS NOT a factor affecting managerial discretion?
characteristics of the industry
Total Quality Management (TQM) allows a firm to do all the following EXCEPT.
enhance product branding
human capital is..
knowledge and skills of the firms entire workforce
Bubba is a great barbecue guy. However, he isn't really sure how to build awareness of his great barbecue products. So, he hires his fraternity brother Josh's company to build awareness for his place. In the value chain, Bubba has outsourced his ______.
marketing
Leroy is a Coors beer salesman. He goes into Grub's for his normal sales call and notices a new Core beer tap has been added. The beer is called Spring Harvest. Leroy tells his supervisor, Bubba about the new beer in Grub's. Bubba tells Leroy to keep an eye on how well the new beer sells and let him know. Bubba is asking Leroy to _______ the new beer.
Monitor
According to the article on Johnson and Johnson, they were losing market share with their flagship baby shampoo line, because:
Parents online recommended organic brands such as Earth Baby
Harp's supermakets compete with WalMart by using a differentiation strategy. Which of the following IS NOT a differentiating tactic?
Pricing generic eggs at their cost
In the airline business, loyalty programs that reward frequent fliers with points are common across all firms. Any significant changes that give temporary advantage to a competitor are quickly copied. These changes only offer a short term advantage. Among the industry models we have studied, this type of resource mobility is characteristic of the ________ model.
Resource-driven
In the Uber article, taxi drivers, customers, anti-discrimination activists, city politicians, all have viewpoints on regulation of app-based taxi services. According to the text, these groups would be
Stakeholders
A company pursuing the differentiation or focused differentiation strategy would tend to:
Strong capabilities in R&D lead to constant product improvement
According to one of the articles, the category with the greatest dollar volume of tariffs is:
Telecommunications Equipment
In the article, Snap Kitchen stands out from their competition by having small locations with limited seating and refrigerator cases filled with pre-packaged food. They have embraced
The grab and go concept
Human capital refers to:
The knowledge and skills of the firm's entire workforce
According to the Polaroid article, in the 2000's, Apple was
The master of the next big thing
Which is NOT a barrier to entry
Training costs
Which of the following IS NOT a barrier to entry?
Training costs
Who are the most aggressive at pushing for younger board members
Unionized company employees who want better returns on their pension funds
The financial perspective on the balanced scorecard deals with all the following EXCEPT:
closing cash balance
or more than 100 years, railroads enjoyed a monopoly in both freight and passenger service. They readily moved from steam locomotives to diesel-electric ones. They added air-conditioning and other passenger amenities. After World War II, long distance rail passenger traffic declined steadily and significantly. The primary cause was the emergence of regular airline service. Airlines offered faster service, competitive pricing and more convenient scheduling. The emergence of airlines as the primary means of long-distance travel is a classic example of__________
disruptive technology
In the Target article, they talk about the most important barometer of the chain's "health". That barometer is:
foot traffic
According to the Polaroid article, in the 2000's Apple was ______________
master of the next big thing
Strategies are implemented through activities. The author clearly indicates you need a system of activities that tightly fit to shield you from competitors. Therefore, the ____________ the number of activities, the ____________ it is for competitors to copy your strategy.
more focused/harder
There are ten major global auto manufacturers. Each company has its' own lineup of autos, SUV's, pickup trucks, etc. that are designed to compete in local as well as global markets. Sometimes the models are local adaptations of models that have been successful in other locales. Sometimes the models are designed for a specific market such as China. Regardless, the competition is strong with regular adjustments for pricing and product features. This process is called _________.
not Global Hyper-segmentation by Type not global segmentation by type
According to the article on Johnson and Johnson, they were losing market share with their flagship shampoo line, because:
parents online recommend organic brands like Earth Baby
At both Boeing and Ford, Mullaly's first order of business was to establish ground rules for senior executives would operate under. Those included all of the following EXCEPT:
protect shareholders
When implementing a focus strategy, the firm seeks to:
serve specialized needs of a market segment
The article talks about how difficult it is for leaders to make "tradeoffs" in order to focus resources. The author describes this problem as:
trying to be everything to everyone