MGMT 3013 - Exam 2

Term
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Which of the following is NOT an area in which a company needs to get and stay ahead in order to sustain a competitive advantage?
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Terms in this set (50)
Which of the following is NOT an area in which a company needs to get and stay ahead in order to sustain a competitive advantage?
Talented employees
Techno Tools is selling off land, buildings and some of its product inventory. This is a variation of which of these grand strategies?
Defensive
Actively selling strategic plans to middle and supervisory managers, rather than just announcing them, is helpful for
strategy implementation
When analyzing the "S" in a SWOT analysis, a manager might take note of
strong financial resources of the firm.
When analyzing the "T" in SWOT analysis, a manager might take note of
a competitor's new product.
A time series forecast, which is used to predict long-term trends, cyclic patterns and seasonal variations, is one type of
trend analysis
Which of the following is NOT one of the forces that affects industry competition, according to Porter's model for industry analysis?
Threats of government interference
Porter's competitive strategies include
cost leadership, differentiation, cost focus, and focused differentiation
Timex Watch makes inexpensive but reliable watches sold throughout the U.S. and is an example of an organization pursuing a _________ strategy.
cost leadership
Which of the following carmakers pursues a focused-differentiation strategy?
ferrari
Time Warner runs different divisions specializing in television, music, and publishing. Time Warner is using a(n) ______ strategy.diversification__________ refers to the idea that the economic value of separate, related businesses under one ownership and management is greater together than the businesses are worth separately.SynergyAdriana is assessing her company's portfolio of products. One of them is the best-selling brand of mouthwash, although this is now a slow growing market. If Adriana uses the BCG matrix, she would classify this product as acash cowThe rational model of decision making is also called the ______ modelclassicalIf an employee has been dismissed "for cause" this means thathe is being fired for his job performance.Which of the following is an assumption upon which the rational model of decision making rests?Decision makers can logically evaluate the alternatives.The concept of "bounded rationality" is most closely related to the ______ model of decision making.satisficingJavier manages a retail store and he has been noticing long lines at checkout lately. He is unsure about increasing his staffing levels or improving training, so he chooses to reconfigure the physical orientation of the checkout space to alleviate the problem for the time being. Javier is using the ______ model.incrementalA large grocery chain has been using data mining to discover which patrons are its most profitable and how to promote its store specifically to these individuals. The chain is usingbusiness analyticsRosalie feels very uncomfortable in her new job because there are few rules or formal procedures and she has little supervision in her tasks. It appears that Rosalie has alow tolerance for ambiguity.Ian is very creative and prefers to look at the long-term issues when making a decision. He considers a wide variety of possible actions based on an open mind about the possibilities. Sometimes his coworkers find him indecisive because of these tendencies. Ian is probably ______ in his decision-making styleconceptualWhen a manager decides to take no action in the belief that there will be no great negative consequences, she is engaged inrelaxed avoidanceManagers tend to give more weight to more recent behavior. This is due to theavailability biasHaving just spent $1500 for a new engine for his old car, Raimundo now learns his transmission needs to be replaced. Raimundo decides to junk the car now, rather than repair it. Raimundo has avoided the __________ bias.escalation of commitmentCarla talked with Maddie after their task force meeting, and they discovered that neither of them had been in favor of dropping some items from next year's budget, yet neither spoke up. Both wanted to be supportive of the group instead. This is an example ofgroupthinkThe process of involving employees in setting goals, making decisions, solving problems, and making changes is calledparticipative management.Which of the following is NOT a description of organizational culture?A system of reporting relationshipsButterfield Grocers is a medium sized but growing company that works diligently to create a supportive and family-like atmosphere for its employees. It provides superior benefits and involves employees in decisions large and small. Butterfield has a(n) ______ culture.clanWhich of the following is NOT a device through which culture is typically transmitted to employees?strategic planSouthwest Airlines employees all know about when CEO Herb Kelleher visited one of the airlines' hangars in the middle of the night in a dress with a purple boa - just to liven things up. In fact, this is part of Southwest's history. This is an example of astoryA supervisor of an assembly line has 45 employees that report to her; this would be considered a(n) ______ span of control.wideElizabeth is a good manager but she is also a perfectionist. She often feels that she is the only one who can handle her division's special clients, so she frequently has problems withdelegationAt Birney Electronics, all purchasing, hiring, and production decisions are made by top management. Birney has ______ authority.centralizedIn a functional structure, people with ______ are grouped together.similar occupational specialtiesAn organization that contains two command structures, and in which some people actually report to two bosses, is a ______ structure.matrixWith a ______ structure, an organization can become a boundaryless organization, with extensive operations but a small core that keeps payroll and overhead down.networkAvery Micro has tight requirements and very detailed procedures for creating small machine parts through an injection molding process. Avery is a(n) ______ organization.mechanisticAt Clarkson Farm Equipment, specialists from marketing, manufacturing, and engineering departments work closely together on new tractor designs. Clarkson is an example of a ______ organization.highly integratedAt which stage of the organizational life cycles does lack of flexibility and innovation become the danger to the business?maturity stageWhat is the final step in the strategic human resource management processPerform appraisals of peopleThe economic or productive potential of strong, trusting, and cooperative relationships is calledsocial capitalA ______ describes the minimum qualifications a person must have to perform a job successfully.job specificationGabriella had been working as an executive assistant to the president for nearly twenty years, so when she retired no one had a good idea of all that her job entailed. Before she left, Laura sat with her for two weeks to observe her duties and ask her the details of all functions. Laura was performing ajob analysisWhich of the following protects employees who raise accusations of fraud to a federal agency?Sarbanes-Oxley ActManagement at Perry Architecture wanted to raise the levels of minorities and women in its ranks. So, the company began an active recruitment program with a local university, and a special career development program as well. Perry has started a(n) ______ plan.affirmative actionLauren worked in a distribution warehouse for a power tool company. Throughout the building, there were posters and calendars of a sexually explicit nature, and they made Lauren very uncomfortable. This ishostile work environmentWhen Javier became one of three final candidates for a managerial position with a large medical supply company, the director of the department scheduled a special meeting with him. There, the two talked about the stressful deadlines and heavy travel required of the position, as well as the great compensation and multiple perks. Javier appreciated that the director took time to conduct arealistic job preview.When Greg interviewed for a position as an entry-level structural engineer, he was asked to solve several engineering problems by hand. This is an example of a(n)performance testThe type of performance appraisal that judges specific, observable aspects of performance like being on time for work is a(n) ______ appraisalbehavioralWhich of the following is the best statement of feedback?"Your last report contained seven errors which I think you could improve."