Multiple Choice Questions (MANA Midterm) Flashcards
Ambidextrous behaviors in individuals illustrate how a dual capacity for ___ and ___ can be woven into the fabric of an organization at the individual level.
Alignment and Adaptability
The innovation paradox implies that consistency in products and services provokes a tensions with the need for new products. This results in a conflict between ___ and ___.
Stability and change
According to Henry Mintzberg, the final realized strategy of a firm is ___.
A combination of deliberate and emergent strategies
___ may be considered the advance work that must be done in order to effectively formulate and implement strategies.
Strategy Analysis
New value creation is a major engine for economic growth and is the main focus of ___ strategy.
Entrepreneurial
WellPoint Health Network states: WellPoint will redefine our industry through a new generation of consumer-friendly products that put individuals back in control of their future. This is an example of a ___.
Vision Statement
Two of the key inputs to developing forecast discussed in the text are ___.
Environmental Scanning and Competitor Intelligence
Which one of the following statements is an example of how to improve perceptual acuity?
Making efforts to gain knowledge/information from external sources
Why must successful managers recognize opportunities and threats in their company external environment?
If they miscalculate the market, opportunities may be lost
___ tracks the evolution of environmental trends, sequences of events, or streams of activities.
Environmental Monitoring
Executives must be careful to avoid spending so much time and effort tracking the actions of ___ that they ignore ___.
Traditional Competitors; New Competitors
It is important to question the reliability of forecasts because ___.
Forecasts can be wrong
In the SWOT framework, ___ are the same for all firms in the same competitive environment.
Opportunities and Threats
Research published in Personnel Psychology shows that older workers are slightly more willing to implement organizational changes than younger workers. This is an example of which segment of the general environment?
Sociocultural; Demographics
In the general environment, many relationships exist among the various elements. General environmental trends can have positive and negative impacts on various industries. For example, the aging population might have a ___ impact on the health care industry and a ___ impact on the baby product industry. These are called ___ impacts.
Positive; Negative; Demographical
Advertising is a ___ activity. Supply of replacement parts is a ___ activity.
Marketing/Sales; Services
Primary, Primary
Mercedes-Benz aggressively pushed for product placement in Hollywood movies. this is an example of which value chain primary or support activity?
Primary Activity
Human resource management consists of activities involved in the recruiting, hiring, training, development, and compensation of all types of personnel. It supports ___.
Primary and Support Activities
According to value-chain analysis, which of the following would be considered part of the general administration in a firm?
Information Systems
The resource-based view of the firm combines the following two perspectives: ___.
- The internal analysis of phenomena within a company.
2. The external analysis of the industry, and its competitive environment.
The three key types of resources that are central to the resource-based view of the firm are ___.
Tangible, Intangible Resources and Organizational Capabilities
In the resource-based view of the firm, examples of tangible resources include ___.
Financial, Physical, Technological Recourses, Organizational Capabilities
Harley-Davidson markets motorcycles, clothes, toys, and restaurants. It uses its strong ___, which is ___.
Brand Image, Intangible
In the knowledge economy, if a large portion of company value is in intellectual and human assets, the difference between the market value and book value of the company should ___ a company with mostly physical and financial assets.
Be greater than
Human capital includes ___.
Individual Creativity, Knowledge, Skills, Experiences
Creativity and problem-solving ability are considered to be part of ___ capital.
Human Capital
___ is the network of relationships that individuals have throughout the organization.
Social Capital
Tacit knowledge ___.
The minds of the employees, Knowledge, and Experiences
Developing human capital is essential to maintaining a competitive advantage in the current knowledge economy. Efforts and initiatives to develop human capital should be directed ___.
All levels of the organization
The primary aim of strategic management at the business level is ___.
Competitive Advantage
Research has consistently shown that firms that achieve both cost leadership and differentiation advantages tend to perform ___.
Better, efficient, higher
Value-chain support activities that involve excellent applications engineering support (technology development) and facilities that promote a positive firm image (firm infrastructure) characterize which generic strategy?
Differentiation
In the ___ stage of the industry life cycle, there are few segments, the emphasis on process design is low, and the major functional areas of concern are general management and finance.
Decline
Which of the following is most often true of mature markets?
Competition Intensifies, Fierce Price Competition, Ideas that cannot be imitated are hard to achieve
Most turnarounds require a firm to carefully analyze its relevant environments. The ___ analysis leads to identification of market segments or customer groups that may still find the product attractive.
External Analysis
Most turnarounds require a firm to carefully analyze its relevant environments. ___ analysis results in actions aimed at reduced costs and higher efficiency.
Internal Analysis
Which of the following are reason for the possible erosion of company competitive advantage?
rapid change in technology
globalization
actions by rivals from within and outside of the industry
A differentiation strategy enables a business to address the five competitive forces by ___.
Lessening competitive rivalry by distinguishing itself
Improve competitive position
High product differentiation is generally accompanied by ___.
Creation of barriers
decreased emphasis on competition based on price.
Ford and VW signed a memorandum of understanding to work together to develop autonomous vehicles. Which of the following best explains the potential advantage for them?
Strategic Alliance
Which of the following is not a reason for merger and acquisition failures?
the acquisition leads to value creation
Corporate-level strategy focuses on ___.
the markets and businesses the firm will compete in.
Proctor and Gamble is a large multinational organization that has many business sharing distribution resources. Diversification strategies take advantage of the ___ that exist in their organization.
Synergies
A firm should consider vertical integration when ___.
The firm’s suppliers of raw materials are often unable to maintain quality standards
When company is not happy with what they have.
