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69 terms

MANAGEMENT

STUDY
PLAY
In Michael Porter's framework all of the following factors affect a nation's competitiveness EXCEPT
policies that protect the nations domestic competitors
According to Michael Porter, firms that have experienced intense domestic competition are
more likely to design strategies and structures that allow them to successfully complete aborad
All of the following would be viewed as advantages of global diversification except
fewer social and political risks that domestic operations
Optimizing the location of every activity in the value chain can yield all of the following strategic advantages except
extending the life cycle of the product of service
Microsoft decided to establish a corporate research lab in England because
to access the outstanding technical and professional talent available there so that they can attain world-class excellence in selected value-creating activities
Appreciation of the US dollar will have the following impact on McDonalds
lower profits, because foreign profits will be reduced when measured in dollars
High pressure for local adaptation combined with low pressure for lower pressure for lower costs would suggest what type of international strategy?
multidomestic
Industries in which proportionally more value is added in _____ activities are more likely to benefit from a ____ strategy
upstream, global
Which of the following types of international firms are most likely to benefit from a global strategy as opposed to a multidomestic strategy?
firms in industries that have much value added in research and design or manufacturing
Recent trends that might lead managers of multinational corps to a more decentralized strategy for their operations would include all of the following except
Customers needs, interests, and tastes are becoming increasingly homogenized or similiar
As in the case of Siebel Systems, elements of a global strategy may facilitate the competitive advantage of differentation by
the creation of a worldwide network to achieve consistent service regardless of location
All of the following are limitations of a global strategy except
the ability to locate activities in optimal locations
Elements of multidomestical strategy may facilitate the competitive advantage of cost leadership by
decreased shipping and transportation costs inherent in local production
All of the following are limitaion of multidomestic strategy except
single locations may lead to high tariffs and transportation costs
Which of the following describes the most typical order of entry into foreign markets?
exporting, licensing, franchising, joint venture, and wholly owned subsidiary
The form of entry strategy into international operations that offers the lowest level of control would be
exporting
_____ entail the creation of a third-party legal entity, whereas ____ do not.
Joint ventures, strategic alliances
______ are most appropriate where a firm already has the appropriate knowledge and capabilities that it can leverage rather easily through multiple locations in many countries
Wholly owned subsidiaries
According to the text, for an entreprenurial start-up to be successful, three ingredients are critical. What are they?
Good ideas, a team of invvestors, and a business plan
Competitors employing differentitaion strategies may sometimes work together behind the scenes to achieve industrywide efficiences but still maintain rigorous competition for mutual customer business. this practice is called
co-opetition
Examples of debt financing that are commonly used by entrepreneurial firms include
venture capitol
All of the following statements about venture capital are true except
it is a form of public equity financing
Which of the following statements about bootstrapping is false?
it is used to avoid selling parts of a business to investors or venture captialists
Which of the following types of resources contribute to the success of entrepreneurial firms?
All of the above
______ Provides a key avenue for growth for many young small firms through parnering to obtain resources
strategic alliances
The US small business admin supports small business through all of the following except
investing venture capital
Which of the following is not one of the three characteristics of entrepreneurial leadership mentioned by the text?
clarifying job resposibilites
Which of the following is not a common new entry strategy according to the text?
Proactive new entry
which of the following is not a key element of a blue ocean strategy?
Highlight incremental improvements to capture market share
Entrepreneeurial firms that pursue a low cost leadership strategy use which of the following to achieve lower costs?
All of the above
1 disadvantage of a functional structure is that differences in functional orientation may impede organization coordination and communication
true
Operational decision making in a large business places excessive demands on the firm's top management
False
A major disadvantage of adopting a divisional structure is the tendecy for managers to focus on short-term objectives
True
The purpose of boundaryless forms of organizing is to facilitate the widespread sharing of knowledge and information across internal and external boundaries of the organization
true
A divisional structure
facilitates the development of general managers
The relationship between strategy and structure can be best described as
strategy and structure influence eachother
Complicated working relationships, intense power struggles, and excessive reliance on group processes are disadvantages of what type of organizational structure?
Matrix
Which of the following is considered to be an advantage of a matrix structure
Increased responsiveness to the market
Which of the following is not an advantage of teams?
Because teams interact so closely, coordination and integration becomes unnecessary
The phrase that best defines a virtual organization is
a continually evolving network of independent companies
Systemic barriers to change refer to elements of an organizations deisgn, structure, and reporting relationships that impede the flow of information
True
The two broad bases of a leaders power are organizational and hierarchical
False
Referent power refers to a managers ID with his or her employees
FALSE
Barriers in which the design of the organization's structure, information processing, and reporting relationships, impede the proper flow and evaluation of information are known as
systemic barriers
Refusal to share info, conflicts over resources, conflicts between departments and divisions, and petty interpersonal differences are symptoms of which type of barrier to change?
Political barriers
All of the following constitute organizational bases of a leader's power except
referent power
The "bottom-up" perspective of empowerment
builds teams to encourage cooperation
functional benchmarking
endeavors to determine best practices regardless of industry
According to the text, effective leadership is like a 3 legged stool consisting of all of the following except
dedication to maintaining the status quo
Which of the following explains why organizations are prone to inertia and slow to change
all of the above
The source of referent power is
a subordinate's ID with the leader
Which of the following is not a characteristic of a successful learning organization?
They regularly engage in activites to reinforce the status quo
Which of the following is NOT 1 of the 3 core activities in the "open book" management system?
Info about customer expectations and feedback is distributed monthly
_____ refers to efforts to create designs and application of technology to develop new products, while ____ refers to efforts to improve the efficiency of organizational systems such as manufacturing and operations
Product innovation, process innovation
Whereas ____ are often associated with a low cost leader strategy, ____ are frequently an important aspect of a differentiation strategy
process innovations, product innovations
____ produce fundamental changes that can transform a company or even revolutionalize an industry, while ____ enhance existing practies and often rep
Radical innovations, incremental innovations
the innovation dilemma known as building capabilities versus collaborating refers to
developing innovation skills internally versus partnering with qualified outsiders
The innovation dilemma known as seeds versus weeds refers to
none of these
in the 1990s, dupont used its knownledge of plastics to develop biodegradable plastic products, this is an example of
defining its innovation efforts within the context of its "strategic envelope"
2 common forms of focused approach to corporate entrepreneurship include
business incubators and new venture groups
According to the text, ____ which support fledgling startups are often used to pursue specific entrepreneurial ventures developed by _____
business incubators and new venture groups
In corporations with a strong entrepreneurial culture, the willingness and ability to change
is considered a core capability
Product champions
scavenge for resources and encourage others to back promising new ideas
ALl of the following are questions that should be answered when evaluating performance of corporate venturing efforts EXCEPT
is the venture attracting external venture funding?
Whereas ____ are willing to violate procedures and operate outside normal channels, ____ gather hard data and develop a strong case for why a project should be killed
product champions, exit champions
real options analysis is most appropriate when
a small investment up front can be followed by a series of subsequent investments
Which of the following is not one of the dimensions of entrepreneurial orientation?
opportunism
Which of the following statements about skunkworks is false?
they refer to a specialized type of outside contractor that corporations use to develop entrepreneurial ideas
The benefits gained by firms that are the first to enter new markets, establish brand identity, and/or adopt new technolgies are known as
first mover advantages