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46 terms

Management Test Final-Part 2

STUDY
PLAY
a manager is involved in____when he or she chooses a goal and develops a method or strategy to achieve that goal
planning
according to S.M.A.R.T. guidelines, goals should be:
timely
which of the following is NOT one of the characteristics of S.M.A.R.T. goals
synergistic
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
operational and tactical
the goal of____is to keep options open by making small, simultaneous investments in many options or plans
options-based planning
____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
top management
a_____is a statement of a company's purpose or reason for existing
vision
there are three kinds of____plans. They are single-use plans, standing plans, and budgets
operational
what type of planning would be used to create the festivities necessary to celebrate the 100-year anniversary of a furniture manufacturer
single-use plan
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
standing plans
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)
problem
a sustainable competitive advantage exists for an organization when other companies have tried unsuccessfully to duplicate the advantage and:
those companies have, for the moment, stopped trying to duplicate the advantage
a_____resource is a resource that is not controlled or possessed by many competing firms
rare
a____resource that is impossible or extremely costly or difficult for other firms to duplicate
imperfectly imitable
an organization is experiencing____when there is a discrepancy between the company's intended strategy and the strategic actions actually implemented by management
strategic dissonance
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
core capabilities
in categorizing companies into strategic groups,____are companies whose strategies are changing from one strategic position to another
transient firms
a_______is a committee within a company that analyzes the company's own weaknesses to determine how competitors could exploit them for competitive advantage
shadow-strategytask force
the two major approaches to corporate-level strategy are:
grand strategies and the portfolio strategy
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:
unrelated diversification
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
BCG matrix
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
retrenchment
organizational____is the successful implementation of creative ideas in organizations
innovation
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
cycle
nearly all technology cycles follow the typical____pattern of innovation
S-curve
the development of CDs was a source of____to companies in the recording industry just as audiotapes and 8-track tapes had once been
a sustainable competitive advantage
during the ____phase of a technology cycle, companies innovate by lowering the cost improving the functioning and performance of the dominant design
incremetal change
_____are workplace cultures in which workers perceive that new ideas are welcomes, valued, and encouraged
creative work environments
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
compression
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
generational change
the first stage of organizational decline is
blinded
the last stage of organizational decline is
dissolution
which of the following is one of the sources of resistance to change
self-interest
the three steps in the basic process of managing organizational change outlined by Kurt Lewin are:
unfreezing, change intervention, and refreezing
which of the following methods for managing resistance to change should only be used as a last resort or under crisis conditions
coercion
global business
is the buying and selling of goods and services to people from different countries
____is a method of investment in which a company builds a new business or buys an existing business in a foreign country
direct foreign investment
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:
multinational corporation
the two general kinds of barriers are:
tariff barriers and nontariff barriers
protectionism is the use of trade barriers to protect local companies and their workers from:
foreign competition
____are long-term, low-interest loans, cash grants, and tax deductions used to develop and protect companies or special industries
government subsidies
the General Agreement on Tariffs and Trade (GATT):
does all of these
___occurs when a company sells domestically produced products to customers in foreign countries
exporting
____are both examples of cooperative contracts
franchising and licensing
a____is a strategic alliance in which two existing companies collaborate to form a third, independent company
joint venture
what are the two types of political risk that affect companies conducting global business
political uncertainty and policy uncertainty