MNGT 4800 Exam 1 Kelley Questions With 100% Correct Answers

MNGT 4800 Exam 1 Kelley Questions With 100% Correct Answers A ___ strategy refers to the part of the intended strategy that are abandoned - answernonrealized A ___ is an organization which grants the right to use its brand name, products, and processes to other orgs. - answerFranchisor A __ fee refers to the upfront fee paid by an organization which gets a right to use another organization's brand name, products, and processes - answerfranchise Marty's, a clothing company, has a number of outlets which are owned and managed by private individuals. These outlets are allowed to use the brand name and products of Marty's after paying a fee to the company. They also pay a part of their revenues to Marty's. Each of these outlets is a: - answerfranchisee Economies of _______ refer to a cost advantage that is created when a firm can produce a good or service at a lower per unit price due to producing the good or service in large quantities - answerscale Which two pivotal events that took place in 1980 led to the establishment of strategic management as a field of study - answerThe creation of the Strategic Management Journal and the publication of Competitive Strategy: Techniques for Analyzing Industries and Competitors A strategic ____ is a specific move designed to outwit or trick competitors - answerploy Strategic management is described as being part science and part _____ - answerart An example of strategic ________ is the corporate ownership and management of General Motors brands Chevrolet (entry-level), Buick (mid-level) and Cadillac (upscale) that represent three different price points and markets within the vehicle industry - answerpositioning A viable business model requires that a firm: - answersells goods or services for more than it costs the firm to create and distribute those goods A strategic ______ is a carefully crafted set of steps that a firm intends to follow in order to be successful - answerplan Which of the following statements holds true for the book Strategy and Structure: Chapters in the History of the Industrial Enterprise? - answerit stressed how strategy and organizational structure need to be consistent with each other in order to ensure strong firm performance Strategy as ________ refers to how executives interpret the competitive landscape around them - answerperspective The Hebrews leaving Egypt, the Greek soldiers inside of the Trojan Horse, and King Arthur's famous round table are all examples of __________ - answerstrategy in ancient times A _____ strategy is the part of the intended strategy that an organization continues to pursue over time - answerdeliberat