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MGT 591 - Dr. Don
| Question | Answer |
|---|---|
| What is current ratio? | Current Assets / Current Liabilities ... Should be over 1.00 to show short-term liquidity |
| What is return on equity? | Net Income / Total Shareholder Equity ... Should look at industry averages to interpret |
| What is capital structure? | The amount of debt and equity used to finance the acquisition of assets. |
| What is a net present value (NPV) analysis? | Taking a series of future cash flows discounted back to today's (present) dollars. |
| What is inventory turnover? | Cost of goods sold divided by inventory ... the higher the number, the better. |
| What is the low cost provider strategy? | One of the Five Generic Competitive Strategies ... the strategy aims to provide lower overall costs than competitors. |
| According to Michael Porter's Five Forces analysis, what are switching costs? | Switching costs place limits on how much companies within the same industry can raise prices or lower quality standards before customers will turn to other competitors. |
| What are the four P's of a comprehensive marketing strategy? | Price ... Promotion ... Place ... Product |
| What is a competitive advantage? | Providing customers with superior value compared to rivals or providing the same value at a lower cost than rivals. |
| What are the five basic modes of entry to enter foreign markets? | Exporting ... Licensing ... Franchising ... Establishing subsidiaries or direct investment .. creating strategic alliances or joint ventures |
| What is a tender offer? | A public offer to all shareholders of a corporation to buy their shares at a stated price |
| What are bylaws? | Rules that govern the internal operations of companies |
| How does the government create higher legal costs for unethical businesses? | Fines and penalties by government agencies .. legal costs incurred by the company to defend government investigations .. costs of complying with stricter government regulations. |
| How can the U.S. government affect foreign competitors wanting to sell their products and services in this country? | Congress passed legislation to allow the President to raise U.S. tariffs on specific products and to provide other forms of import protection to U.S. companies. |
| What are the two basic forms of contract? | An oral contract with terms agreed by spoken communication ... A written contract with terms transcribed in a agreement |
| What is the difference between a census and a random sample? | A census is a sample of the entire population ... a random sample is a subset of a population randomly selected. |
| What are the three most common descriptive statistics? | The mean is an averages of all values ... The median is the middle point where values greater than the median is the same as those values lower than the median ... The mode is value that occurs the most often in a series of values. |
| What is the 95 percent confidence interval according to the Empirical Rule? | 95 percent of the elements have a parameter that falls within 2 standard deviations of the mean for that parameter in a normal distribution |
| What is normal distribution? | The pattern of values placed in a chart indicates a single central peak and tapers off on either side in a symmetrical fashion ... the bell shaped curve. |
| What are the three types of correlation when analyzing values between two variables using scatter plot graphs? | Positive correlation is when both variables generally increase ... Negative correlation is when one variable increases as the other decreases ... Nonexistent correlation is when the points appear randomly scattered. |
| What is the difference between a mission statement and a vision statement? | A mission statement defines who we are as an organization, and the vision statement describes where we are going as an organization. |
| What is the difference between financial objectives and strategic objectives? | Financial objectives relate to financial targets (i.e. increasing revenues). Strategic objectives relate to strengthening a company's market standing, competitive position and future business prospects |
| With regard to corporate social responsibility, what are the components of the Triple Bottom Line? | Economic ... Environmental ... Social |
| What is the difference among Multi-domestic, Global and Transnational Strategies? | Multi-domestic (think local, act local) ... Global (think global, act global) ... Transnational (think global, act local) |
| What are the six components of the macro environment in which a business operates? | Political ... Economic ... Social ... Technological ... Environmental ... Legal |
| What are the two primary behaviors of leaders according to the Situtaional Leadership Model Theory? | Task focused ... Relationship focused |
| With regard to leadership, what are the five bases of power as defined by French and Raven? | Reward (a leader can reward) ... Coercive (a leader can enact punishment) ... Legitimate (a leader has the right to lead) ... Referent (followers' identification with the leader) ... Expert (followers' view that leader is an expert) |
| What are the five components of emotional intelligence? | Self awareness ... Self regulation ... Motivation ... Empathy ... Social skill |
| What is the difference between position power and personal power? | Position Power - People follow leaders out of respect or acknowledgement of their office ... Personal Power - People follow leaders out of admiration or attraction to their personal characteristics. |
| What is the difference between centralized and decentralized management? | Centralized - hierarchical with decisions made at the top by fewer people ... Decentralized - delegatory with decisions spread out over more people |
Created by:
DonLonergan
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