MANA Final Exam Flashcards
One of the reasons Ford found it difficult to increase sales in China is that ____.
Chinese customers seek out cars with technological
innovations
Multinational firms are constantly faced with the decision of choosing between
________ adaptation and ________ integration.
local; global
The rise of ________ capitalism around the world creates tremendous business
opportunities for multinational corporations.
Market
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 _____.
rapid rise in global capitalism
According to Michael Porter, firms that have experienced intense domestic competition
are _____.
designed strategies and structures that allow them to successfully
compete in world markets
Which of these points on Porter’s diamond of national advantage is the strongest
indicator of global competitive success?
Domestic Rivalry
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.
cooperating
Competitive actions can take many forms. Which is not likely to be one of them?
The exit of a successful business from the market
is the process of identifying, selecting, and developing new venture opportunities.
Opportunity recognition
Generally speaking, the opportunity recognition process consists of two phases of
activity. They are ______ and _________.
discovery ; evaluation
Which of the following is not one of the characteristics of an entrepreneurial opportunity?
Affordability
Which of the following terms is used to refer to opportunities that are practical and physically possible?
Achievable
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?
Public Financing
Which of the following statements about venture capital is false?
The entrepreneurs can walk away from the venture with the equity and stock options within the investing period
Behavioral controls are aspects of strategic change that involve finding the appropriate
______ and _______ among the culture, rewards, and boundaries of the firm.
balance; alignment
The traditional approach to strategic control is sequential. Which of the following is not one of the steps in the sequence?
Lower and middle management set strategic corporate goals
For businesses facing complex and turbulent business environments, which of the following is true?
Traditional strategic controls are not very effective
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.
strategy formulation, implementation; control
Contemporary approaches to strategic control rely primarily on
double loop learning
Informational control systems are concerned with which of the following questions?
Is the organization doing the right things
Which of the following is not one of the characteristics of a contemporary control system?
It circumvents the need for fact-to-face meetings among superiors, subordinates and peers.
Which of the following is not a key control lever of behavioral control?
Structure
GM is creating an alliance with Lyft, a major ride-sharing service, to facilitate _.
creativity
In large organizations, a strategy of diversification requires a need to reorganize around
________or ________
product lines; geographic markets
When an organization with a simple structure increases its sales revenue and volume of outputs, it is most likely to develop a _____ structure.
functional
When an organization with a functional structure diversifies into related product- markets, it generall
develops a divisional structure.
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.
divisional
Successful organizations create ______ boundaries among the external activities as well as between the organization and its external customers, suppliers, and alliance partners
permeable
Organizational structure refers to the formalized patterns of interactions that link
company tasks; technologies; people.
30) Structures help to ensure that _____ are used effectively in accomplishing the mission of the organization.
resources
Which of the following activities is not identified by organizational structure?
Social Responsibility
A simple structure is characterized by
highly centralized decision making.
Which of the following is an advantage of a functional type of organizational structure?
Pooling of specialists enhances coordination and control
Which of the following is an advantage of a divisional type of organizational structure?
An enhanced ability to respond quickly to changes in the external environment
According to the textbook, _____ and _____ must accept personal responsibility for developing and strengthening ethical behavior throughout the organization.
Managers; top excecutives
Strong leaders create a balance in giving _____ to employees while providing the ______ needed to build skills.
autonomy; mentoring
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.
expand; human; social
Carefully developed ______ and ________guide behavior so that all employees will be encouraged to behave in _____ manner.
policies; procedures; ethical
Which of the following is an important characteristic of a leader?
Goal Oriented
Which of the following statements about leadership is false?
Leadership is the process of transforming organizations from what they are to what the leader would have them become
A strategic vision provides many benefits. Which of the following is not one of those benefits?
Diminished employee participation
Poor organizational design by leaders can result in all the following except:
teams, systems, and organizational processes that facilitate implementation
Choose the best answer: Leaders play a key role in developing and sustaining organization
culture.
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 __________
a learning organization; ethical organization
_____________ 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
Product Innovation; process
Incremental innovations
are usually small improvements in products and processes.
Radical innovations
often represent technological breakthroughs.
_____________ 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
Incremental Innovation
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.
sustaining
Innovation involves using _____ knowledge to _______ organizational processes or create commercially viable products and services.
new ; transform
