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 - answer✔✔nonrealized A ___ is an organization which grants the right to use its brand name, products, and processes to other orgs. - answer✔✔Franchisor 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 - answ er✔✔franchise 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: - answer✔✔franchisee 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 quantitie s - answer✔✔scale Which two pivotal events that took place in 1980 led to the establishment of strategic management as a field of study - answer✔✔The creation of the Strategic Management Journal and the publication of Competitive Strategy: Techniques for A nalyzing Industries and Competitors A strategic ____ is a specific move designed to outwit or trick competitors - answer✔✔ploy Strategic management is described as being part science and part _____ - answer✔✔art An example of strategic ________ is the corp orate 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 - answer✔✔positioning A viable business model requ ires that a firm: - answer✔✔sells 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 - answer✔✔plan Which of the following statements holds true for the book Strategy and Structure: Chapters in the History of the Industrial Enterprise? - answer✔✔it stressed how strategy and organizational structure need to be consistent with each other in order to ensure strong f irm performance Strategy as ________ refers to how executives interpret the competitive landscape around them - answer✔✔perspective The Hebrews leaving Egypt, the Greek soldiers inside of the Trojan Horse, and King Arthur's famous round table are all examp les of __________ - answer✔✔strategy in ancient times A _____ strategy is the part of the intended strategy that an organization continues to pursue over time - answer✔✔deliberate Developing a viable business model requires that a firm sells goods or services for more than it costs the firm to create and distribute those goods (T/F) - answer✔✔True The book, "The Principles of Scientific Management," was a response to Taylor's observ ation that most tasks within organizations were organized in a haphazard way (T/F) - answer✔✔True One important aspect of a business model is providing customers with a good or service more cheaply than they can create it themselves (T/F) - answer✔✔True The idea of "stratego," from which the word strategy is derived, refers to the idea of defeating an enemy by effectively using resources (T/F) - answer✔✔True Most strategic ploys are illegal (T/F) - answer✔✔False _____ refers to an approach to assessing perf ormance that emphasizes the concerns of people and the planet in addition to profit. - answer✔✔the triple bottom line Skyway manufactures fighter jets. It aims to be the top aircraft manufacturing company in the world. This is an example of the _____ of th e company. - answer✔✔vision _____ refer to CEOs possessing both fame and strong reputations. - answer✔✔Icons Which of the following statements describes customer measures as a part of the balanced scorecard? - answer✔✔They relate to client attraction, sati sfaction, and retention _______ refer(s) to how well a company is doing reaching its vision, mission, and goals. - answer✔✔Organizational Performance Which of the following statements describes the term "innovativeness" as a dimension of entrepreneurial or ientation? - answer✔✔It refers to the tendency to pursue creativity and experimentation _____ refer to CEOs displaying high levels of relative fame but low levels of reputation. - answer✔✔Scoundrels