25 May WHICH OF THE FOLLOWING MACROECONOMIC FORCES IS SUMMER CORP. EXPERIENCING?
MGT 498 Final Exam
1. Summer Corp., a retailer of consumer electronics, has been experiencing high profits because an increasing percentage of the customers have sufficient disposable income to afford its products. Similar companies have also experienced a boom in customer demand. Which of the following macroeconomic forces is Summer Corp. experiencing?
Inflation
Currency exchange rate
Economic growth
Interest rate
2. The management of Neptune Inc. creates a definite plan of action that will surely create profits for the company. It allocates and sectionalizes its machinery and personnel. The main office is moved to a prime location that helps attract customers and facilitates competitive development. This plan of action helps Neptune Inc. retain its competitive advantage and has also grow as a company. Which of the following terms does this scenario best illustrate?
Functional strategy
Business unit strategy
Strategic tools
Strategic management process
3. Blue Corp., a car manufacturing company, reaches its five-year goal of becoming market leader in the domestic market. Upon reaching saturation in the local market, it decides to expand its market globally in order to increase its profits. Which of the following is likely to be the primary reason for Blue to enter the global market?
Longer product life
Product differentiation
Sales growth
Lower-cost resources
4. A survey is conducted among the customers of a supermarket chain. This survey reveals that the majority of these customers prefer to buy Lia, a brand of soap, because they feel that the company Lia Products Inc. has created a product that is of worth to the customers. The reason for the customers’ preference is because the company constantly delivers what it promises. In this scenario, the factor that has made the brand of soap named Lia popular among these customers can be best categorized as _____.
inimitability
rarity
value
prestige
5. MorrisWhitaker Inc., a metallurgical firm, wants to create a new production plan. This step involves formalizing and institutionalizing new behaviors, methods, processes, or routines. This is an example of the _____ phase of organizational change.
monitoring
refreezing
changing
unfreezing
6. Noel, the CEO of a firm operating in the electronics industry, wants to change the environmental trends, store keeping facilities, and distribution strategy by creating a new plan for the production plant immediately. This need for change can be achieved by _____.
refreezing
building a guiding coalition
gernerating urgency
creating a response profile
7. An organization studies the strategies of its competitors closely. At the current stage, it studies factors such as geographic location, characteristics of business model, services provided, and time management. At this stage, the organization is identifying the competitor’s _____.
organizational structure
resources and capabilities
goals and achievements
objectives
8. Which of the following statements is true of corporate culture?
It consists of behavioral assumptions that are considered inappropriate for organizational members.
Put simply, culture is just how things are done in any organization.
An organization’s culture, by itself, can be regarded as good.
Culture proves to be very weak because it cannot inform action without the need for supervision.
9. Which of the following statements is true about strategic alliances?
Strategic alliances usually lead to one of the firms losing their relational advantage.
In strategic alliances, companies may choose to cooperate at any stage along the value chain.
In strategic alliances, the power to make decisions is always evenly distributed amidst the firms.
Strategic alliances exclude functions that are bought through bidding.
10. Ruth works for an electronics manufacturing company, Zeeway Inc., whose employees volunteer over 1 million hours per year on initiatives that include environmental conservation, economic empowerment, and literacy programs. Which of the following best represents Zeeway’s initiative?
Incremental innovation
Corporate social responsibility
Competition response strategy
Strategic alliance
11. All assets, capabilities, organizational processes, firm attributes, information, knowledge, and so on, controlled by a firm that enable the firm to conceive of and implement strategies that improve its efficiency and effectiveness most accurately defines the term _____.
capabilities
resources
priorities
functions
12. Which of the following statements is true about strategy?
It is the ability of an individual to perform tasks.
It represents the most important S in the 7 S model.
It refers to the priorities, values, and virtues that members of an organization see as important.
It includes recruitment, hiring, training, promotion, and compensation.
13. TrueBiz Corp. follows a system wherein all the activities of the company are directed toward converting parts of a product into an entire finished good. These activities are done in tandem so that a perfected product can be created which can be sold to a prospective customer. This is an example of a _____.
product line
supplier chain
value chain
pricing chain
14. The management at WonderPlanners Inc. wants to improve their production and operating capabilities by adopting a leaner process. As such, the employees of WonderPlanners are asked to eliminate the excess use of efforts and materials. WonderPlanners Inc. finally manages to achieve a competitive advantage after its employees follow these new practices repeatedly over time. From the information given in this scenario, we can infer that WonderPlanners Inc. has developed _____.
dynamic capabilities
service inimitability
network externalities
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