Management Test Final-Part 2 – Flashcards
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a manager is involved in____when he or she chooses a goal and develops a method or strategy to achieve that goal
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planning
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according to S.M.A.R.T. guidelines, goals should be:
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timely
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which of the following is NOT one of the characteristics of S.M.A.R.T. goals
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synergistic
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a manufacturer of snowboards could set a____goal to increase revenues by 8 percent over the next five years and a ____goal to increase sales next June in Aspen, Colorado, by 3 percent
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operational and tactical
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the goal of____is to keep options open by making small, simultaneous investments in many options or plans
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options-based planning
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____is responsible for developing strategic plans that make clear how the company will serve customers and position itself against competitors in the next two to five years
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top management
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a_____is a statement of a company's purpose or reason for existing
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vision
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there are three kinds of____plans. They are single-use plans, standing plans, and budgets
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operational
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what type of planning would be used to create the festivities necessary to celebrate the 100-year anniversary of a furniture manufacturer
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single-use plan
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the____is a type of operational plan that saves managers time because it is cleared once and then used repeatedly to handle frequently recurring events
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standing plans
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a_____exists when there is a gap between a desired state (what managers want) and an existing state (the situation that the managers are facing)
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problem
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a sustainable competitive advantage exists for an organization when other companies have tried unsuccessfully to duplicate the advantage and:
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those companies have, for the moment, stopped trying to duplicate the advantage
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a_____resource is a resource that is not controlled or possessed by many competing firms
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rare
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a____resource that is impossible or extremely costly or difficult for other firms to duplicate
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imperfectly imitable
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an organization is experiencing____when there is a discrepancy between the company's intended strategy and the strategic actions actually implemented by management
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strategic dissonance
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in any organization, the____are the less visible, internal decision-making routines, problem-solving processes, and the organization cultures that determine how efficiently inputs can e turned into outputs
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core capabilities
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in categorizing companies into strategic groups,____are companies whose strategies are changing from one strategic position to another
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transient firms
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a_______is a committee within a company that analyzes the company's own weaknesses to determine how competitors could exploit them for competitive advantage
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shadow-strategytask force
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the two major approaches to corporate-level strategy are:
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grand strategies and the portfolio strategy
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Starbucks, the operator of Starbucks coffeehouses, also markets a line of compilation CDs under the brand name Hear Music. The making and marketing of CDs would be an example of:
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unrelated diversification
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the____is a portfolio strategy that managers use to categorize their corporation's businesses by growth rate and relative market share. This strategy helps them to decide how to invest corporate funds
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BCG matrix
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significant cost reductions, layoffs of employees, closing of poorly performing stores, offices, or manufacturing plants, or closing or selling entire lines of products or services would be characteristics of a _____strategy
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retrenchment
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organizational____is the successful implementation of creative ideas in organizations
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innovation
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a technology____begins with the "birth" of a new technology and ends when that technology reaches its limits and "dies" as it is replaced by newer, substantially better technology
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cycle
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nearly all technology cycles follow the typical____pattern of innovation
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S-curve
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the development of CDs was a source of____to companies in the recording industry just as audiotapes and 8-track tapes had once been
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a sustainable competitive advantage
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during the ____phase of a technology cycle, companies innovate by lowering the cost improving the functioning and performance of the dominant design
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incremetal change
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_____are workplace cultures in which workers perceive that new ideas are welcomes, valued, and encouraged
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creative work environments
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the___approach to managing innovation assumes that innovation is a predictable process made up of a series of steps and that compressing the time it takes to complete those steps can speed up innovation
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compression
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when incremental improvements are made to a dominant technological design such that the improved version of the technology is fully backward compatible with the older version,____is said to have occurred
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generational change
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the first stage of organizational decline is
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blinded
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the last stage of organizational decline is
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dissolution
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which of the following is one of the sources of resistance to change
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self-interest
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the three steps in the basic process of managing organizational change outlined by Kurt Lewin are:
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unfreezing, change intervention, and refreezing
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which of the following methods for managing resistance to change should only be used as a last resort or under crisis conditions
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coercion
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global business
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is the buying and selling of goods and services to people from different countries
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____is a method of investment in which a company builds a new business or buys an existing business in a foreign country
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direct foreign investment
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Nestle is a company based in Switerland with manufacturing plants in Columbia, Australia, Canada, and Eqypt, Kenya, and more than 90 other nations. Nestle is an example of a:
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multinational corporation
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the two general kinds of barriers are:
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tariff barriers and nontariff barriers
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protectionism is the use of trade barriers to protect local companies and their workers from:
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foreign competition
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____are long-term, low-interest loans, cash grants, and tax deductions used to develop and protect companies or special industries
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government subsidies
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the General Agreement on Tariffs and Trade (GATT):
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does all of these
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___occurs when a company sells domestically produced products to customers in foreign countries
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exporting
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____are both examples of cooperative contracts
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franchising and licensing
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a____is a strategic alliance in which two existing companies collaborate to form a third, independent company
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joint venture
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what are the two types of political risk that affect companies conducting global business
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political uncertainty and policy uncertainty
