MGMT 550- Final
Which of the following is the best example of Low-end Disruptive Innovation Uber The Movie Pass Card Electric Vehicles AirBnB
AirBnB
The San Diego Zoo states on its website "To become a world leader at connecting people to wildlife and conservation." This pronouncement is most precisely a statement of organizational A.culture B. values C. mission D. vision
D. Vision
It is relatively easy to instill core values into new employees. True False
False
Which of the following industries has been least affected by disruptive technology over the past 10 years? Books Financial Accounting Telephone service Entertainment
Financial Accounting
Which of the following is NOT true? Finding a Blue Ocean Strategy is relatively low risk It make take 3-5 years to develop, plan and implement a successful Blue Ocean Strategy Blue Ocean works well for companies looking to enter a new market with alot of competition Blue Ocean is a good strategic approach for companies at the brink of extinction and hoping to survive
Finding a Blue Ocean Strategy is relatively low risk
LinkedIn is effective for helping you do all of the following EXCEPT: Help you find a new position Build important new business connections Be a resource for up to date contact information for people that you know Finding financial information about key companies
Finding financial information about key companies
Which of the following is NOT a question that great managers ask themselves when making a tough ethical decisions? How can I gain from this decision? Will others be negatively impacted? Is my decision in line with my values? Am I behaving fairly?
How can I gain from this decision?
Blue Ocean Strategy is most closely aligned with which of the following 5 business strategies from Michael Porter? Broad Low Cost Focused Differentiation Integrated Cost Leadership/Differentiation Focused Low Cost Broad Differentiation
Integrated Cost Leadership/Differentiation
Which of the following is NOT an ethical decision-making myth? It is hard to be ethical. Ethics can be managed with codes of conduct. Unethical behavior is simply a problem of "bad apples." People are less ethical than they used to be. Managing Ethics is not my problem.
It is hard to be ethical.
IKEA offers young customers a selection of home furnishings featuring good design, function, and acceptable quality at low prices. Ikea is using which business-level strategy? cost leadership differentiation focused differentiation focused cost leadership
focused cost leadership
The new generation of lunch trucks serving high-end fare in cities such as New York, San Francisco, and Los Angeles share which of the following a business strategies? differentiation integrated cost leadership/differentiation focused differentiation cost leadership
focused differentiation
A transnational corporate-level strategy seeks to achieve standardization of products across countries. economies of scale and centralized strategic control. customization for the local market. global efficiency and local responsiveness.
global efficiency and local responsiveness.
The purchasing of firms in the same industry is called horizontal acquisition. unrelated diversification. vertical integration. networking the organization.
horizontal acquisition.
Customer loyalty programs such as airline frequent-flyer miles are an attempt to overcome the perishability of the hotel "product." increase customers' switching costs. decrease competitors' access to distribution channels. develop a cost advantage independent of scale.
increase customers' switching costs.
When a firm acquires its supplier, it is engaging in a(n) hostile takeover. unrelated acquisition. vertical acquisition. merger.
vertical acquisition.
The Mars acquisition of the Wrigley assets was part of its related constrained diversification and added market share to the Mars/Wrigley integrated firm. It allowed Mars to gain the market level or reduce its costs below the market level. multipoint competition vertical integration market power virtual integration
market power
Cross-border acquisitions are primarily made to reshape the firm's competitive scope. overcome barriers to entry in another country. reshape the firm's competitive scope. take advantage of higher education levels of labor in developed countries.
overcome barriers to entry in another country.
Backward integration occurs when a company owns its own source of distribution of outputs. is divesting unrelated businesses. is concentrated in a single industry. produces its own inputs
produces its own inputs
All of the following are considered generic business-level strategies EXCEPT cost leadership. focused differentiation. integrated cost leadership/differentiation. product diversification
product diversification
Which of the following is NOT one of the three main restructuring strategies? downsizing realigning. leveraged buyouts downscoping
realigning.
Which of the following reasons for diversification is most likely to increase the firm's value? taking advantage of changes in tax laws reducing costs through business restructuring increasing managerial compensation conforming to antitrust regulation
reducing costs through business restructuring
Walt Disney Company has successfully used related diversification to create value by sharing activities and transferring core competencies. sharing activities. transferring core competencies. efficient internal capital allocation and restructuring.
sharing activities and transferring core competencies.
Utilitarian theory says the best decision is the one that provides the greatest good for the greatest number the best decision is one that a person of high integrity and honesty would make the best decision is one that most people would make the best decision is one that a monarchy or dictator would make
the best decision is the one that provides the greatest good for the greatest number
Good goals are SMART. Which of the following is incorrect? S stands for Specific M stands for Measureable T stands for Time-Bound R stands for Relevant A stands for Actionable
A stands for Actionable
Recruiters spend an average of how long looking through resumes? 2 minutes 30 seconds 5 minutes 6 seconds
6 seconds
Which of these is true? Everyone is motivated by the same thing A manager is an important factor in employee motivation Money is the only effective motivator Low performance is always attributable to low motivation
A manager is an important factor in employee motivation
Which of the following industries is most likely to change because of disruptive technology over the next five years? Foodservice industry The trucking industry None of the them in the next 5 years All of them in the next 5 years Medical diagnosis
All of them in the next 5 years
Employee motivation is an important contributor to the following: Stock performance Employee retention Customer satisfaction None of these All of these
All of these
Which of the following is likely to help a firm identify threats to their business. Looking at core competencies of potential entrants to the industry Analyziing technology changes likely to happen in the industry Analyzing how consumer preferences are changing All of these
All of these
Which acquisition would be considered the LEAST related? An upscale "white-tablecloth" restaurant chain acquires a travel agency. A candy manufacturer purchases a chemical laboratory specializing in food flavorings. A hospital acquires a long-term care nursing home. A chain of garden centers acquires a landscape architecture firm.
An upscale "white-tablecloth" restaurant chain acquires a travel agency.
All of the following are good suggestions for improving your LinkedIn Profile except: Building connections with people that you know Having a professional photo Asking people to give you a recommendation on LinkedIn Avoid using buzz words that are common to your industry and the job that you do
Avoid using buzz words that are common to your industry and the job that you do
Which is most important to a company's success? A. Mission B. Strategy C. Vision D. Great leader
B. Strategy
Which of the following is NOT important when considering whistle blowing? Exploring whether there are other explanations for what you perceived to be wrong Sharing the situation with someone you trust to get their opinion Gathering evidence to support your accusation Being personally motivated by the action
Being personally motivated by the action
Blood banks are highly dependent on donors. In the terminology of industry analysis, which statement of donors is accurate? Blood donors are buyers and are powerful because of the volume of blood needed. Blood donors are suppliers and are powerful because of their concentration relative to the blood bank. Blood donors are suppliers and are powerful because of the critical nature of what they provide to the blood bank. Blood donors are buyers and are not powerful because switching costs to change to alternative inputs are low.
Blood donors are suppliers and are powerful because of the critical nature of what they provide to the blood bank.
Which of the following is not part of strategy? A.Making decisions on what not to do B. Identifying and developing long-term competitive advantage C. All of these are important to strategy D. Generating above-average returns and profits E. Making managment decisions of what to do
C. All of these are important to strategy
The final responsibility for forming the organization's mission lies with the A.organization's stakeholders. B. employees C. CEO D. top-management team
C. CEO
Which of the following is NOT a strategic decision by Ford? A. Building a plant in China to develop electric vehicles B. Deciding to discontinue all passenger cars except the Mustang and Ford Crossover C. Changing steel suppliers to get a less expensive price for steel D. Developing a joint venture with Google to produce autonomous vehicles.
C. Changing steel suppliers to get a less expensive price for steel
Disruptive Innovation Leaders are all of the following EXCEPT: Capabale of being humble when necessary Managing uncertainity Being decisive Surrounding themselves with diverse peope.
Capable of being humble when necessary
Which of the following steps toward making an ethical decision includes utilizing checks such as the Platinum Rule test and the Mom test? Check your instincts Define the ethical issues Think creatively about actions Identify the affected parties, consequences, and obligations Consider your integrity
Check your instincts
Which of the following is NOT a principle of strategic leadership? Being honest and open about information. Developing others as leaders. Finding time to reflect. Making it safe to fail. Creating charasmatic and inspirational speeches.
Creating charasmatic and inspirational speeches.
Which of the following is likely to be most effective in motivating a firm's employees? A. knowing that the company values lifetime employment for its workers B. being higher paid than the industry average for their positions C. having a CEO who is great at motivating speeches D. understanding why the company is in business and what is its purpose
D. understanding why the company is in business and what is its purpose
Which of the following steps to making an ethical decision follows the fact-gathering step? Identify the affected parties, consequences, and obligations Define the ethical issues Consider your integrity Think creatively about actions Check your instincts
Define the ethical issues
John Maxwell would agree with all of these statements except: You need to be likeable to be an effective leader. You cannot ask someone to do something that you do not know how to do yourself. It is important for a leader to hire people like themself to grow into future leaders. It is important for a leader to demonstrate they can generate results. Good leaders allow others to learn how to do the leader's job.
It is important for a leader to hire people like themself to grow into future leaders.
Which of the following is true? Performance management is about figuring out how to manage low performers It is important to set performance expections for employees Performance management is mostly common sense Feedback is always effective
It is important to set performance expections for employees
Which of the following is the best example of New Market Disruption Innovation? The Movie Pass Tesla Uber Keurig Coffee Machine
Keurig Coffee Machine
Which of the following is a common leadership myth? Leadership can be learned. Leadership exists only at the top. Leadership can be taught. Not all leaders are charismatic. Leadership failure is due to exhibiting toxic behaviors.
Leadership exists only at the top.
If you were in charge of a new startup airline and looking to implement a Blue Ocean strategy, which of the following would be least consistent with the principles of Blue Ocean? Offering bonus frequent flyer miles for travelers willing to fly late at night or make multiple connections in route to their destinations Creating an affordable high speed shuttle service between Boston, NYC, and Washington DC for commuters who usually ride Amtrak trains Finding a way to broker a relationship with an energy company to get lower fuel costs Adding virtual reality head sets for passengers to use to learn about places they are traveling to. Trying to get first time flyers to use your airline
Offering bonus frequent flyer miles for travelers willing to fly late at night or make multiple connections in route to their destinations
All of the following are effective ways that large companies use to manage disruptive innovation EXCEPT: Setting up seperate business units in their company and encourage disruptive thinking Acquiring competing technologies Putting more money into advertising and promoting their products Working with startup companies who have competiting technology
Putting more money into advertising and promoting their products
Which of the following is not part of Blue Ocean strategy? Create new value by adding features/services that customers care about Raise the level important product/service features that customers care about Reduce product quality Eliminate unnecessary costs
Reduce product quality
Design Thinking from the Innovation sessions is about the intersection of 3 areas. Which of the following is NOT one of those areas? Reliability Desirability Viability Feasibility
Reliability
Which of the following is not a good example of a disruptive technology? Uber Kindle E-Book Garmin GPS Devise Nikon Digital Camera
Uber
Which of the following, identified in an analysis of the general environment, is an opportunity for an entrepreneur who wishes to open a business providing "Fitness for Life" physical conditioning services (strength, balance, and flexibility training) in a city of 100,000 people? The average age of the population in his community is high. A chiropractor and two independent physical therapists are located in his community. The level of unemployment in his community is high. The average education level of the population in his community is low.
The average age of the population in his community is high.
A certain marble quarry provides a unique type of marble that is richly colored and strikingly veined. It has been used for churches and public buildings throughout the world. The architect of a new headquarters for a prestigious Fortune 500 firm has specified the use of this marble, and this marble only, for this project. Which of the following statements is most likely to be true? The cost of the marble will be moderate because of the bargaining power of the buyer. The cost of the marble will be expensive because of the bargaining power of the supplier. The cost of the marble will be expensive because of the high strategic stakes involved. The cost of the marble will be moderate because of economies of scale.
The cost of the marble will be expensive because of the bargaining power of the supplier.
The three most important factors that influence employee motivation are: Salary, vacation, and benefits The employee, the manager, and the job itself The culture, the company strategy, and the vision Salary, the manager, and company culture
The employee, the manager, and the job itself
An important factor in finding a great hire is identifying people who are self-motivated. True False
True
The right people in an organization understand they don't have a job, they have responsibilties. True False
True
Yellow Tail wine was successful because it did all of the following EXCEPT: Win prestitgious medal awards for their wines Made a wine that appealed to the masses Offer a simple selection of product choices Priced their wine about budget wines and equal to a six-pack of beer
Win prestitgious medal awards for their wines
When a firm is able to produce nonstandardized (that is, distinctive) products for customers who value differentiated features more than they value low cost, the firm is successfully implementing a single-product strategy. a differentiation strategy. a cost leadership strategy. an integrated cost leadership/differentiation strategy.
a differentiation strategy.
A cost leadership strategy provides goods or services with features that are unique. acceptable. mediocre. substandard.
acceptable.
Moving into international markets is a particularly attractive strategy to firms whose domestic markets are limited in opportunities for growth. have too much regulation. demand a differentiation strategy for success. have developed unfriendly business attitudes toward the industry.
are limited in opportunities for growth.
Which of the following is NOT an entry barrier to an industry? customer product loyalty bargaining power of suppliers economies of scale expected competitor retaliation
bargaining power of suppliers
To provide a sustainable competitive advantage, a capability must satisfy all of the following criteria EXCEPT be hard for competing firms to duplicate. be without good substitutes. be valuable to customers. be technologically innovative.
be technologically innovative.
Southwest Airlines has a complex interrelationship between its culture and staff that adds value in ways that other airlines cannot, such as jokes on flights or the cooperation between gate personnel and pilots. These examples illustrate which of the following criteria for sustainable competitive advantage? valuable nonsubstitutable costly to imitate rare
costly to imitate
Business-level strategies are concerned specifically with creating differences between the firm's position and its competitors. how a business with multiple physical locations will operate one of those locations. selecting the industries in which the firm will compete. how functional areas will be organized within the firm.
creating differences between the firm's position and its competitors.
A global corporate-level strategy emphasizes decentralizing control and limited monitoring. sensitivity to local product preferences. economies of scale. differentiated products.
economies of scale.
Global warming and energy consumption trends are aspects of the __________ section of a PESTEL analysis that firms should monitor. economic environmental technological sociocultural
environmental
Problems associated with acquisitions include all of the following EXCEPT excessive time spent on the due diligence process. managers overly focused on acquisitions. integration difficulties. large or extraordinary debt.
excessive time spent on the due diligence process.
Zara has pioneered "cheap chic" in clothing apparel. Zara offers current and desirable fashion goods at relatively low prices. To implement the strategy, Zara uses sophisticated designers and effective means of managing costs. These are all characteristics of which business level strategy? stuck in the middle integrated cost leadership/differentiation differentiation cost leadership
integrated cost leadership/differentiation
When peforming a SWOT analysis it is best to focus on political and legal issues which always identify great opportunties is best to limit the number of items in the SWOT analysis to the top 3-5 points for each quadrant is important to list every possible threat to a company is not helpful to look at core competencies of competitors
is best to limit the number of items in the SWOT analysis to the top 3-5 points for each quadrant
Media content has moved from paper, tape, and film to a digital world based on Internet technology. From the perspective of the five forces model, which force is most relevant here? suppliers substitutes buyers entry barriers
substitutes
Which of the following would NOT be identified in an analysis of the economic portion of the general environment? the ability of BMW's buyers to finance car purchases in light of a change in interest rates the willingness of GM buyers to purchase new vehicles in light of the threat of recession the ability of Ford to issue new debt in light of its recent financial performance the willingness of Chrysler's buyers to purchase large vehicles in light of an increase in oil prices
the ability of Ford to issue new debt in light of its recent financial performance
A multidomestic corporate-level strategy is one in which a corporation chooses not to compete internationally but where there are a number of international competitors in the firm's local marketplace. the firm produces a standardized product, but markets it differently in each country in which it competes. the firm customizes the product for each country in which it competes.
the firm customizes the product for each country in which it competes
ACME Corp. is a leading provider of radios to the commercial market. Its products all rely on printed circuit-board technology. ACME has protected its market leadership with continued advancements in this technology, which it patents. A competitor has developed a radio for this market with equal performance but uses a software-based technology instead of circuit boards. ACME's technology leadership fails which capability test? the value test the costly-to-imitate the rareness test the substitutability test
the substitutability test
Suppliers are powerful when.. they sell a commodity product. they are in a highly fragmented industry. satisfactory substitutes are available. they offer a credible threat of forward integration.
they offer a credible threat of forward integration
Which of the following is NOT an incentive for firms to become multinational? to avoid high domestic taxation on corporate income to gain easier access to raw materials opportunities to integrate operations on a global scale to gain access to consumers in emerging markets
to avoid high domestic taxation on corporate income
A firm successfully implementing a differentiation strategy would expect to charge premium prices. customers to be sensitive to price increases. customers to perceive the product as standard. to have high levels of power over suppliers.
to charge premium prices.
Currently, the rationale for making an acquisition includes each of the following EXCEPT to decrease taxes paid by shareholders. to increase diversification. to overcome entry barriers. to increase market power.
to decrease taxes paid by shareholders.
Corporate-level strategy is concerned with and how to manage these businesses. whether the portfolio of businesses should generate immediate above-average returns or should be troubled businesses which will create above-average returns only after restructuring whether to integrate backward or forward. whether the firm should invest in global or domestic what product markets and businesses the firm should be in
what product markets and businesses the firm should be in
The most important thing that a recruiter looks at on your resume is: if you have a list of references on your resume your current position and company along with how long you have been there have you been promoted often how long have you been out of school
your current position and company along with how long you have been there
