MANA Final Exam

Question 1

One of the reasons Ford found it difficult to increase sales in China is that ____.

Answer 1

Chinese customers seek out cars with technological

innovations

Question 2

Multinational firms are constantly faced with the decision of choosing between
________ adaptation and ________ integration.

Answer 2

local; global

Question 3

The rise of ________ capitalism around the world creates tremendous business
opportunities for multinational corporations.

Answer 3

Market

Question 4

In Fortune’s annual list of the 500 biggest companies in the world, 156 firms were from
emerging markets in 2015 compared to 18 in 1995, owing to _____.

Answer 4

rapid rise in global capitalism

Question 5

According to Michael Porter, firms that have experienced intense domestic competition
are _____.

Answer 5

designed strategies and structures that allow them to successfully
compete in world markets

Question 6

Which of these points on Porter’s diamond of national advantage is the strongest
indicator of global competitive success?

Answer 6

Domestic Rivalry

Question 7

As long as the benefits of _______ are enjoyed by all participants in a co-opetition system, the practice can aid companies in avoiding intense and damaging competition.

Answer 7

cooperating

Question 8

Competitive actions can take many forms. Which is not likely to be one of them?

Answer 8

The exit of a successful business from the market

Question 9

is the process of identifying, selecting, and developing new venture opportunities.

Answer 9

Opportunity recognition

Question 10

Generally speaking, the opportunity recognition process consists of two phases of
activity. They are ______ and _________.

Answer 10

discovery ; evaluation

Question 11

Which of the following is not one of the characteristics of an entrepreneurial opportunity?

Answer 11

Affordability

Question 12

Which of the following terms is used to refer to opportunities that are practical and physically possible?

Answer 12

Achievable

Question 13

According to a study by the Kauffman Foundation, which of the following is the largest source of funding for businesses that have been operating at least five years?

Answer 13

Public Financing

Question 14

Which of the following statements about venture capital is false?

Answer 14

The entrepreneurs can walk away from the venture with the equity and stock options within the investing period

Question 15

Behavioral controls are aspects of strategic change that involve finding the appropriate
______ and _______ among the culture, rewards, and boundaries of the firm.

Answer 15

balance; alignment

Question 16

The traditional approach to strategic control is sequential. Which of the following is not one of the steps in the sequence?

Answer 16

Lower and middle management set strategic corporate goals

Question 17

For businesses facing complex and turbulent business environments, which of the following is true?

Answer 17

Traditional strategic controls are not very effective

Question 18

In the contemporary approach to strategic control, adapting to and anticipating both internal and external environmental change is an integral part. The relationships between
__________________ and _______are highly interactive.

Answer 18

strategy formulation, implementation; control

Question 19

Contemporary approaches to strategic control rely primarily on

Answer 19

double loop learning

Question 20

Informational control systems are concerned with which of the following questions?

Answer 20

Is the organization doing the right things

Question 21

Which of the following is not one of the characteristics of a contemporary control system?

Answer 21

It circumvents the need for fact-to-face meetings among superiors, subordinates and peers.

Question 22

Which of the following is not a key control lever of behavioral control?

Answer 22

Structure

Question 23

GM is creating an alliance with Lyft, a major ride-sharing service, to facilitate _.

Answer 23

creativity

Question 24

In large organizations, a strategy of diversification requires a need to reorganize around
________or ________

Answer 24

product lines; geographic markets

Question 25

When an organization with a simple structure increases its sales revenue and volume of outputs, it is most likely to develop a _____ structure.

Answer 25

functional

Question 26

When an organization with a functional structure diversifies into related product- markets, it generall

Answer 26

develops a divisional structure.

Question 27

A strategy of related diversification requires most firms to organize around geographical areas or product lines. This type of organizational growth leads to a(n) _____ structure.

Answer 27

divisional

Question 28

Successful organizations create ______ boundaries among the external activities as well as between the organization and its external customers, suppliers, and alliance partners

Answer 28

permeable

Question 29

Organizational structure refers to the formalized patterns of interactions that link

Answer 29

company tasks; technologies; people.

Question 30

30) Structures help to ensure that _____ are used effectively in accomplishing the mission of the organization.

Answer 30

resources

Question 31

Which of the following activities is not identified by organizational structure?

Answer 31

Social Responsibility

Question 32

A simple structure is characterized by

Answer 32

highly centralized decision making.

Question 33

Which of the following is an advantage of a functional type of organizational structure?

Answer 33

Pooling of specialists enhances coordination and control

Question 34

Which of the following is an advantage of a divisional type of organizational structure?

Answer 34

An enhanced ability to respond quickly to changes in the external environment

Question 35

According to the textbook, _____ and _____ must accept personal responsibility for developing and strengthening ethical behavior throughout the organization.

Answer 35

Managers; top excecutives

Question 36

Strong leaders create a balance in giving _____ to employees while providing the ______ needed to build skills.

Answer 36

autonomy; mentoring

Question 37

In attracting the best talent and relentlessly looking to build their skills, the most successful managers regularly _____ the ______ and _______ capital around them. As their followers mimic this pattern of behavior, the firm can build a dynamic and sustainable business model.

Answer 37

expand; human; social

Question 38

Carefully developed ______ and ________guide behavior so that all employees will be encouraged to behave in _____ manner.

Answer 38

policies; procedures; ethical

Question 39

Which of the following is an important characteristic of a leader?

Answer 39

Goal Oriented

Question 40

Which of the following statements about leadership is false?

Answer 40

Leadership is the process of transforming organizations from what they are to what the leader would have them become

Question 41

A strategic vision provides many benefits. Which of the following is not one of those benefits?

Answer 41

Diminished employee participation

Question 42

Poor organizational design by leaders can result in all the following except:

Answer 42

teams, systems, and organizational processes that facilitate implementation

Question 43

Choose the best answer: Leaders play a key role in developing and sustaining organization

Answer 43

culture.

Question 44

When faced with barriers to change, leaders can create a good climate for advancing the aims of the organization and making progress towards its goals by building __________ and an __________

Answer 44

a learning organization; ethical organization

Question 45

_____________ refers to efforts to create designs and applications of technology to develop new products, while _____innovation refers to efforts to improve the efficiency of organizational systems such as manufacturing and operations

Answer 45

Product Innovation; process

Question 46

Incremental innovations

Answer 46

are usually small improvements in products and processes.

Question 47

Radical innovations

Answer 47

often represent technological breakthroughs.

Question 48

_____________ produce fundamental changes that can transform a company or even revolutionize an industry, while Radical Innovations enhance existing practices and often represent evolutionary applications of fundamental breakthroughs

Answer 48

Incremental Innovation

Question 49

Innovations that extend sales in an existing market, usually by enabling new products or services to be sold at higher margins, are known as ______ innovations.

Answer 49

sustaining

Question 50

Innovation involves using _____ knowledge to _______ organizational processes or create commercially viable products and services.

Answer 50

new ; transform