Question 1

Summarize the different approaches to strategic maneuvering that organizations can take to change the environment they are in.

Accepted Answer

The answer of Summarize the different approaches to strategic maneuvering...

Question 2

Which of the following is a competitor that a mass merchandiser like Target must identify and anticipate the actions of?

Accepted Answer

A)  Consumer advocacy groups. 
B)  Mass merchandiser suppliers. 
C)  Wholesale outlets like Sam's or Costco. 
D)  Companies entering new markets. 
E)  All of these are potential competitors.

Question 3

Fixed costs buyers face if they change suppliers are called

Accepted Answer

A)  Changing costs. 
B)  Switching costs. 
C)  Supplier costs. 
D)  Exchange costs. 
E)  Sunk costs.

Question 4

Organizations must acquire a variety of resources in order to produce a product or service of value. These resources may include materials, equipment, financing, or even employees. The sources that provide these various resources are referred to as

Accepted Answer

A)  Resource firms. 
B)  Placement centers. 
C)  Retailers. 
D)  Suppliers. 
E)  Customs houses.

Question 5

Landscaping products are complements when people are buying new homes.

Accepted Answer

A) True 
 B)False

Question 6

Alyssa owns Carver Gifts, and she is projecting that the economy will rebound this fall. She ordered additional holiday gift merchandise in February in anticipation of the surge in sales that the holiday season usually but not always brings to her retail store. Here Alyssa is using __________ to be sure she has enough gifts for those extra holiday customers.

Accepted Answer

A)  just-in-time inventory management 
B)  smoothing 
C)  kanban 
D)  buffering 
E)  adapting at the core

Question 7

The main difference between a final consumer and an intermediate consumer is that

Accepted Answer

A)  The final consumer usually pays cash for the purchase, whereas the intermediate customer uses a credit arrangement. 
B)  An intermediate consumer will utilize the purchase in order to sell its product/service to final consumers, whereas a final consumer uses the product herself. 
C)  Final consumers purchase more (in dollar value) than do intermediate consumers. 
D)  Intermediate consumers are usually more flexible in their product requirements and scheduling than final consumers. 
E)  Final consumers have more bargaining power than intermediate consumers.

Question 8

If an organization's culture is externally oriented and focused on control with its primary objectives as productivity, planning, and efficiency, it could best be described as __________ type of culture, according to the competing values model.

Accepted Answer

A)  a group 
B)  a hierarchical 
C)  a rational 
D)  an adhocracy 
E)  a values-oriented

Question 9

The SEC recently proposed regulations requiring companies to disclose more details about executive compensation. This illustrates an important interaction between organizations and their relevant

Accepted Answer

A)  Demographics. 
B)  Regulators. 
C)  Attorneys. 
D)  Labor officials. 
E)  Suppliers.

Question 10

Describe the five forces in Porter's model for competitive analysis.

Accepted Answer

The answer of Describe the five forces in Porter's model...

Question 11

Environmental uncertainty results from

Accepted Answer

A)  Complexity. 
B)  Simplicity. 
C)  Cooperation. 
D)  Product and industry stability. 
E)  An incrementally changing environment.

Question 12

An outcome of environmental scanning is __________, the information necessary to decide how best to manage in the competitive environment managers have identified.

Accepted Answer

A)  an organizational plan 
B)  entry barrier concepts 
C)  competitive intelligence 
D)  corporate espionage plans 
E)  competitive counterplans

Question 13

Which of the following approaches is effective for top management to use to manage the positive corporate culture effectively?

Accepted Answer

A)  Executives must not give too much attention to the mundane details of daily affairs. 
B)  Executives must allow the organization to develop lofty ideas and visions for the company, and then it is up to others in the organization to follow through on these ideas and visions. 
C)  CEOs and other executives should always make choices that contribute to profit even if this means not quite living up to the company's values. 
D)  Hire and promote employees on the basis of the organization's corporate values. 
E)  All of these are effective to manage the corporate culture.

Question 14

Family leave, flexible working hours, and child care assistance have been introduced as a direct result of the growing ethnic diversity in the workplace.

Accepted Answer

A) True 
 B)False

Question 15

Ranier Outdoor Clothing managers engage in an annual organizational assessment, trying to predict industry changes as well as possible opportunities and threats. They look at issues such as who their competitors are, current entry barriers, and what substitutes exist for their products. This assessment is called

Accepted Answer

A)  Scenario development. 
B)  Forecasting. 
C)  Benchmarking. 
D)  Environmental scanning. 
E)  SWOT analysis.

Question 16

One firm buying another is called a(n)

Accepted Answer

A)  Merger. 
B)  Acquisition. 
C)  Divestiture. 
D)  Prospective. 
E)  Defender.

Question 17

Social metrics are measures of various characteristics of the people who make up groups or other social units.

Accepted Answer

A) True 
 B)False

Question 18

The Internet has empowered customers by providing an easy source of information.

Accepted Answer

A) True 
 B)False

Question 19

The method for predicting how variables will change in the future is called

Accepted Answer

A)  Budgeting. 
B)  Scenario development. 
C)  Forecasting. 
D)  Benchmarking. 
E)  Environmental scanning.

Question 20

Describe the culture of an organization that you have either worked in or studied. Which of the four types of organizational culture described in the chapter does the organization illustrate? Justify your answer.

Accepted Answer

The answer of Describe the culture of an organization that...

Exam 2: The External and Internal Environments

Summarize the different approaches to strategic maneuvering that organizations can take to change the environment they are in.

Which of the following is a competitor that a mass merchandiser like Target must identify and anticipate the actions of?

Fixed costs buyers face if they change suppliers are called

Organizations must acquire a variety of resources in order to produce a product or service of value. These resources may include materials, equipment, financing, or even employees. The sources that provide these various resources are referred to as

Landscaping products are complements when people are buying new homes.

The main difference between a final consumer and an intermediate consumer is that

If an organization's culture is externally oriented and focused on control with its primary objectives as productivity, planning, and efficiency, it could best be described as __________ type of culture, according to the competing values model.

The SEC recently proposed regulations requiring companies to disclose more details about executive compensation. This illustrates an important interaction between organizations and their relevant

Describe the five forces in Porter's model for competitive analysis.

Environmental uncertainty results from

An outcome of environmental scanning is __________, the information necessary to decide how best to manage in the competitive environment managers have identified.

Which of the following approaches is effective for top management to use to manage the positive corporate culture effectively?

Family leave, flexible working hours, and child care assistance have been introduced as a direct result of the growing ethnic diversity in the workplace.

One firm buying another is called a(n)

Social metrics are measures of various characteristics of the people who make up groups or other social units.

The Internet has empowered customers by providing an easy source of information.

The method for predicting how variables will change in the future is called

Describe the culture of an organization that you have either worked in or studied. Which of the four types of organizational culture described in the chapter does the organization illustrate? Justify your answer.