student extra credit questions
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| What does planning mean? | Choosing a goal and developing a strategy to achieve that goal
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| What does S.M.A.R.T mean? | Specific, Measurable, Attainable, Realistic, Timely
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| What is the difference between proximal goals and distal goal? | Proximal goals are short term or subgoals, Distal goals are long term or primary goals, Both are good for business (Both B&D)
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| Which manager develops tactical plans and management by objectives to motivate employee efforts toward the overall vision and mission? | Middle Managers
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| What is the correct definition of a company’s vision? | A statement of a company’s purpose or reason for existing
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| What is the correct order of steps to make a plan that works? | Set goals, develop commitment, develop effective action plans, track progress toward goal achievement and maintain flexibility
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| Goal commitment is: | The determination to achieve a goal
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| Maximizing is: | Choosing the best alternative
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| What is a proximal goal? | a short term goal
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| What is the standing plan that indicates the general course of action that should be taken in response to a particular event? | policy
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| What best describes a vision? | A statement of a company’s purpose or reason for existing
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| A systematic process of defining problems, evaluating alternatives, and choosing optimal solutions best describes: | Rational decision making
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| Unethical behavior that violates organizational norms about right & wrong is known as ____ deviance. | Workplace
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| What is the third step in the rational decision-making process? | Weigh the criteria
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| What decision-making method involves a panel of experts responding to questions and to each other until reaching an agreement on an issue? | Delphi technique
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| A ( ) strategy focuses on improving the way in which the company sells the same products or services to the same customers. | Stability
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| Which of the adaptive strategies focus on seeking moderate, steady growth by offering a limited range of products and services to a well defined set of customers? | Defenders
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| To achieve a ____, the resources must be valuable, rare, imperfectly, imitable, & nonsubstitutable. | Sustainable competitive advantage
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| What are 2 major approaches to corporate-level strategy that companies use to decide which businesses they should be in? | Portfolio strategy & Grand strategy
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| How can an organization achieve a competitive advantage? | By using their resources to provide greater value force customers than competitors can
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| Resources that are not controlled or possessed by many competing firms are: | Rare resources
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| Name A Core Firm | Lowe's
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| What is a small company with a small share of a slow growing market? | Dog
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| Star is: | Company with a large share of a fast growing market
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| What is measure of the intensity of completive behavior between companies in an industry? | Character of the rivalry
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| What do managers typically include in their strategic groups? | Companies that compete directly with their customers, Companies that use similar strategies (Both A&C)
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| Which of the following are not examples of resources? | Firms
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| A rare resource is….. | Not controlled or possessed by many competing firms
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| The central companies in a strategic group is known as what? | Core firms
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| What are the four symbols used by the Boston Consulting Group (BCG) in the BCG Matrix? | Question mark, Star, Dollar Sign, Dogs
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| When a company makes an attach on its direct competitor, what move by its competitor does it prompt? | Response
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| How many steps are in the Strategy-Making Process? | 3
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| Core firms are? | The central companies in a strategic group
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| What does unfreezing mean? | Getting the people affected by change to believe that change is needed
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| What does creativity mean? | The production of novel and useful ideas
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| Technology cycle is: | A cycle that begins with a new technology and ends when that technology reaches its limits and is replaced by a newer one.
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| Opposition to change resulting from self interest, misunderstanding, and a general intolerance for change is known as: | Resistance to change
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| The phase of a technology cycle characterized by technological substitution and design competition is which of the following? | Discontinuous change
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| Which of the following are considered to be errors that managers make when leading change? | All of the above
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| Sometimes the _____ to a problem ____ another problem. | solution, causes
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| Which of the following are not components of creative work environment? | Lack of leadership Impediment
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| Managing resistance to change is: | All of the above
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| What are the general steps of organizational development? | all of the above
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| Using formal power and authority to force others to change is known as? | Coercion
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| Getting people who are affected by the change to believe that the change is needed is called: | Unfreezing
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| When companies don’t anticipate, recognize, neutralize, or adapt to the internal or external pressures that threaten their survival, what occurs? | Organizational decline
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| Forces that support the existing state of conditions in organizations are what type of forces? | Resistance forces
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| Technological ____ is a scientific advance or a unique combination of existing technologies creates a significant breakthrough in performance of function. | Discontinuity
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| What’s a component of creative work environment? | Both B & C
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| Refreezing is supporting and reinforcing | the new changes so that they stick
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| In which stage of organizational decline will management announce “belt tightening” plans designed to cut costs, increase efficiency, and restore profits? | faulty action stage
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| What is one of the largest and most important regional trading groups in Asia? | ASEAN
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| An agreement in which a foreign business owner pays a company a fee for the right to conduct a business in his or her country is a | Cooperative contract
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| Government imposed regulations that increased the cost and restrict the number of imported goods is called ______. | Trade barriers
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| Franchise is a collection networked firms in which the manufacturer or service, the ______, licenses the entire business to another person or organization, the ______. | Franchisor; franchisee
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| What is the most important factor in an attractive business climate? | Access to a growing market
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| There are two factors that help companies determine the growth potential of foreign markets; they are: | Purchasing power and foreign competitors
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| Foreign offices, facilities, or manufacturing plants that is owned 100% by the parent company is a(n)? | Wholly Owned Affiliate
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| What is the biggest disadvantage to a wholly owned affiliate? | Expense
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| What are quotas? | Specific limits on the number or volume of imported products
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| What is a tariff? | A direct tax on imported goods
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| The Maastricht Treaty is a regional trade agreement between most European countries, which of the following was not one of the countries? | China
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| The GATT is a worldwide trade agreement that reduces and eliminates tariffs, limits governement subsidies, and establishes protections for intellectual property. What does GATT stand for? | General Agreements on Tariffs and Trade
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| What reason would a company have for choosing a location in a foreign country? | All of the above
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| Who recognized the five cultural differences, power distance, individualism, masculinity, uncertainty avoidance, and short-term versus ling-term orientation? | Geert Hofstede
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| A strategic alliance is: | When two companies combine recourses, costs, risk, technology, and people
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| What is a joint venture? | A strategic alliance in which two existing companies collaborate to form a third, independent company
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| ________ is an active strategy to prevent or reduce political risks? | Control
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| When conducting a global business, companies should attempt to identify two types of political risks. | Political Uncertainty & Policy Uncertainty
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