Management Final
Blue Ocean strategies always involve increasing the price of the product or service.
False
The primary reason Ringling Brothers Circus went out of business was because of Cirque Du Soleil's success.
False
Which of the following is NOT a strategic decision by Ford?
Changing steel suppliers to get a less expensive price for steel
Google and Apple are serious threats to Ford.
True
Which of the following is not a good example of a disruptive technology?
Uber
Which of the following is NOT part of evaluating a firm's business model?
Understanding how a firm expects raise money for acquistions.
Southwest has a strong business model because:
Value, manages costs, Competitive advantage
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?
substitutes
Which of the following is NOT true About Blue ocean?
Finding a Blue Ocean Strategy is relatively low risk
Why is Blue Ocean strategy important?
It provides an alternative to traditional Competitive Strategy models and creates new ways to think about a business
All of the following are effective ways that large companies use to manage disruptive innovation EXCEPT:
Putting more money into advertising and promoting their products
Companies can make profits without having a Vision or Mission statement. A well thought out Mission/Vision statement can help a company achieve above average returns.
True
Corporate-level strategy is concerned with and how to manage these businesses.
what product markets and businesses the firm should be in
Which of the following is NOT true?
It is uncommon to find false information on someone's resume
Components of a Performance Focused Culture ?
- Clear Expectations, Goals, and Deadlines - Detailed Appraisal of Employee Performance - Clear Feedback on Performance - Manager and Employee Training as Needed - Consequences for Performance
Dr. Morris Massey is well known for his work on Value Programming. How many transition "Periods" does a person experience by age 21?
3
Google acquired Motorola in 2011 for $12.5 Billion. This was what type of transaction?
Acquisition
Which of the following is the best example of Low-end Disruption?
AirBnB
MoviePass is the firm that created a monthly movie pass for $19.95 that consumers could use to see as many movies at the theater as they wanted each month. What was the problem with its business model?
All 3 of these were problems for MoviePass.
A problem that can occur with an acquisition is:
All of the above
Situational Leadership by Ken Blanchard:
All of these
Which of the following is important to conducting an effective PESTEL analysis:
Brainstorming, precision, assessing, and Prioritizing
Which acquisition would be considered the LEAST related?
An upscale "white-tablecloth" restaurant chain acquires a travel agency.
According to a 2016 Gallup Survey, "Engaged" employees will NOT
Be 50% more creative than their peers
Disruptive Innovation Leaders are good at all of the following EXCEPT:
Being humble when necessary
Which of the following is NOT important when considering whistle blowing?
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 suppliers and are powerful because of the critical nature of what they provide to the blood bank.
Which of the following is not a reason to make an acquisition?
CEO can earn more money
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
An external analyis of the macro environment does NOT include:
Competitive factors
Which one of the following is NOT a stakeholder in Enterprise purpose?
Competitor
According to Kotter, which one of the following is NOT a leadership attribute:
Controlling & Problem Solving
Which of the following steps to making an ethical decision follows the fact-gathering step?
Define the ethical issues
Which of the following can be used to determine how much to pay for a company?
EBITDA
Mission and Vision are the same thing. Many companies use them interchangeably and there is essentially no difference between the two.
False
Millennials/Generation Y were born between 1983-2000. Which of the following is NOT a preferred leadership approach?
Have the boss make decisions whenever possible
A company's mission can:
Help all employees focus on tasks that will be supportive of the company's goals and objectives.
Jim Collins believes it is important "Getting the Right People on the Bus". You can do this by :
Hire people who already share core values
The following are attributes of the "Comfort Zone" EXCEPT:
Honor
Which of the following industries is LEAST likely to be affected by the development of autonomous (self-driving) vehicles?
Housing
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?
Porter and Lawler argue that
If rewards are adequate, high levels of performance may lead to satisfaction
A Company's Vision can:
Impact culture, retain talent, Create a purpose
Which of the following is an important competitve success factor for top performing companies?
Innovative products and services, Effective use of valuable competencies, Focusing on customer needs, Having and entrepreneurial mindset
Blue Ocean Strategy is most closely aligned with which of the following 5 business strategies from Michael Porter?
Integrated Cost Leadership/Differentiation
Which of the following is NOT an ethical decision-making myth?
It is hard to be ethical
Which of the following is NOT good advice about making ethical decisions?
It is important to come to quick decisions to resolve these important matters
Which of the following is part of strategy?
Making management decisions, Identifying and developing competitive long term advantage, Making decisions on what not to do, Generating above average returns and profits
Which of the following are links in the value chain that defines an aligned enterprise?
Management systems, resource architecture, business strategy, Organizational capability, Enterprise purpose
Which of the following is NOT one of the adjacent segments that Yellow Tail added to their target market as they expanded their Blue Ocean efforts
People who like Australian cuisine
Which one of the following is NOT one of the needs of the Clayton Alderfer theory?
Money
Employee performance requires the right combination of:
Motivation, Ability, Environment
David McClelland acquired framework states
Need for affiliation Need for Power, Need for Achievement, Needs are acquired, or learned, from cultural, societal, and family influences
Which of the following is not an entitlement compensation philosophy?
No raises for poor performing employees
Which one of the following is NOT an integral part of John Maxwell's 5 Levels of Leadership?
People follow you because of charisma and communication skills
Which of the following are components of Resource Architecture?
People, Culture, Structure, Process
Millennials:
Quick Learners, driven, Flexible, high expectations, can appear self-absorbed
Which of the following is not part of Blue Ocean strategy?
Reduce product quality
All of the following were key to Cirque Du Soleil's Blue Ocean Strategy EXCEPT:
Reduce the appeal to children
Applicant Sourcing can come from multiple channels. Which of the following channels has the shortest average time to hire?
Referrals
If Southwest Airlines employees lost their high enthusiasm and commitment to the company,
Southwest would have lost one of its competitive advantages and its performance would be threatened.
In the Apple case about creating a backdoor to the iPhone it is clear that
That this a Right vs. Right struggle where there is not easily found ethical solution.
Which of the following, identified in an analysis of the external 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.
Theory Y by Douglas McGregor states:
The average person has significant untapped capacity for creativity and ingenuity
The main reason Telsa has NOT perfected its business model is because:
The cost of running the company is very high causing uncertainty about the company and its ability to be profitable long-term.
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 expensive because of the bargaining power of the supplier.
In the last few years, all of the following have had a major effect on strategic planning EXCEPT:
The difficulty in raising finanical capital
Which one of the following is NOT how Corporate Culture can affect acquisitions?
The type of industry you are in
Marvel could produce a movie for 30% less than other high end Hollywood Studios because of lower overhead.
True
Which of the following questions is NOT part of Organizational Capability?
What is the company's views towards corporate politics?
Which of the following questions does NOT apply to Business Strategy?
Who are your largest shareholders?
Wholesome Pet Food has successfully specialized for 20 years in high-quality pet food made from all-natural ingredients and organically raised lamb. This brand has a strong following and is recommended by veterinarians who practice in affluent neighborhoods. Wholesome's main supplier of lamb has announced that the price for lamb will be 15 percent higher next year.
Wholesome will probably be able to pass the cost on to its customers because they are less sensitive to price increases than the average buyer.
Yellow Tail wine was successful because it did all of the following EXCEPT:
Win prestigious medal awards for their wines
Frederick Taylor's research indicated that
Workers are motivated purely by money
According to Maslow's Hierarchy of Needs which of the following does NOT apply?
You can exist in multiple stages of the hierarchy at the same time
A cost leadership strategy provides goods or services with features that are
acceptable.
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 implementin
a differentiation strategy.
Looking at the business model of a firm is:
a key part to evaluating a firm's overall strategic efforts.
Moving into international markets is a particularly attractive strategy to firms whose domestic markets
are limited in opportunities for growth.
Which of the following is NOT an entry barrier to an industry?
bargaining power of suppliers
If you believe in Conscious Capitalism, you would agree with all of the following EXCEPT:
capitalism is the root of evil and little good comes from it
The differentiation strategy can be effective in controlling the power of rivalry with existing competitors in an industry because
customers are loyal to brands that are differentiated in meaningful ways.
A company pursuing the differentiation or focused differentiation strategy would tend to
develop flexible systems that allow rapid response to customers' changing needs.
A global corporate-level strategy emphasizes
economies of scale
Global warming and energy consumption trends are _________________ aspects of the that firms should monitor.
environmental
A U.S. manufacturer of adaptive devices for persons with disabilities is considering expanding internationally. It is a fairly small company, but it is looking for growth opportunities. This company should primarily consider the option of
exporting
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?
focused cost leadership
A transnational corporate-level strategy seeks to achieve
global efficiency and local responsiveness.
An analysis of the economic segment of the external environment would include all of the following EXCEPT:
income distribution
Customer loyalty programs such as airline frequent-flyer miles are an attempt to
increase customers' switching costs.
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?
integrated cost leadership/differentiation
A company using a narrow target market in its business strategy is
limiting the group of customer segments served.
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 _______________ because it could sell its products above the market level or reduce its costs below the market level.
market power
Backward integration occurs when a company
produces its own inputs
Ever-improving levels of efficiency enhance profit margins for a cost-leader. This effects which of the five forces of industry structure most directly?
potential entrants
Which of the following reasons for diversification is most likely to increase the firm's value?
reducing costs through business restructuring
Which of the following would NOT be identified in an analysis of the economic portion of the general environment?In a suburban community outside a city in Alabama, a retail store opened that specialized in dancewear for children and adults. It was moderately successful for five years until the local newspaper published an exposé that scanty lingerie stocked in the back of the store's showroom was selling briskly to a certain clientele. Afterward, the store lost most of its customers and nearly closed. Which segment of the environment did the store owners fail to take into account when they began selling the lingerie?
sociocultural segment
Utilitarian theory says
the best decision is the one that provides the greatest good for the greatest number
A multidomestic corporate-level strategy is one in which
the firm customizes the product for each country in which it competes.
Suppliers are powerful when
they offer a credible threat of forward integration
A firm successfully implementing a differentiation strategy would expect
to charge premium prices.
When selecting a business level strategy, the firm must determine all of the following EXCEPT
why should these customers' needs be satisfied?