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Which of the following is an example of a business acting upon an organizational core value? Pegasus Autos reduces engine emissions below federal guidelines to reduce pollution - by lowering engine emissions below beyond what federal laws require, Pegasus Autos is acting on an ethical standard & thus an organizational value Soil & Sod Gardening Supplies has a vision of helping every American learn how to grow their own food. Its management team recently unveiled the mission the mission statement "A garden at every home." What is wrong with this mission statement? it doesn't indicate how the company will accomplish its goals - this is more suited as a vision statement The Founder of Teach for America, Wendy Kopp, established a mission by building on her vision, which is "One day, all children in this nation will have the opportunity to attain an excellent education." Considering this, how did Klopp implement the mission of Teach for America? by enlisting talented young professionals as teachers Which of the following tasks i the AFI strategy framework involves putting the formulated strategy into practice through organizational structure, culture, & controls? strategy implementation - "I" in the AFI strategy framework includes organizing the firm to put the formulated strategy into practice Bubble Buddy is a company that manufactures hot tubs. Which of the following best illustrates a product-oriented vision for Bubble Buddy? to be the pioneering manufacturer of hot tubs Strategic Initiative any activity a firm pursues to explore & develop new products and processes, new markets, or new ventures Zenya is the founder of an online service that allows users to rent out spare rooms in their homes. She has hired a # of extremely bright employees whose opinions are central to be company's success in the fast-paced online services industry. Which type of strategic management process would be most likely to fully utilize the strengths embodied by her team & position the company to capitalize upon autonomous actions & serendipity? strategy as planned emergence - this approach would allow Zenya to maintain her leadership role w/in the company encouraging employees to contribute their skills toward the strategy formulation & implementation processes The amount of xylene that can be used in household pain is legally limited to 0.03%. Anything beyond this amount is hazardous to health & the environment, & considered a legal offense. Consequently, CW Paints has vouched to make its products as safe as possible. Therefore, it manufacturers xylene-free paints even though this increases its costs & reduces the dividends paid to its shareholders in the long run. Which of the following responsibilities is CW Paints primarily compromising in this scenario? economic responsibilities toward its shareholders BlueStainless Corp. has been able to gain & sustain a competitive advantage due to its strong relationship w/ its employees, customers, suppliers, & local communities. The company believes in lifetime employment & ensures that its employees grow along w/ the company. Investors are more than satisfied w/ the returns on their investments. Also 3% of the company's profit is spent on community development. W/ initiatives like these, customers feel privileged to associate themselves w/ BlueStainless products. This scenario best illustrates the implementation of a stakeholder strategy The 1st step in stakeholder impact analysis involves identifying the stakeholders that current have, or potentially can have, a material effect on a company In the aircraft manufacturing industry, at least of large commercial jets, Boeing & Airbus are the only competitors. There isn't a significant threat of entry bc entering the aircraft manufacturing industry requires huge capital investments Which of the following features about a buyer indicates that the buyer has high bargaining power? when the buyer operates in an industry where products are undifferentiated The primary objective of Porter's 5 forces model is to understand the profit potential on industries - & how they can position their respective firms to gain & sustain competitive advantage Which of the following is macroeconomic factor that can affect a firm's strategy? levels of employment - in boom times, unemployment tends to be low & skilled human capital becomes scare & more expensive - in downturns, employment rises & skilled human capital is more abundant & wages fall Jamie is a manager in an industry that has few large players & that has remained relatively stable over the past years. He finds out that legislators are proposing new laws to deregulate the industry. If the laws pass, which of these scenarios will Jamie most likely face? many new competitors Dynamic capabilities are especially relevant for surviving & competing in markets that shift quickly Home Value Inc, Max Cart Inc, & Nice Necessities Inc are 3 consumer products retailing companies. Their products primarily of day-to-day items that are easy to imitate & sell. All 3 companies use the same resources & capabilities in the production & distribution of their products. Judging from the market conditions described in this scenario, which of the following statements in true? any advantage that 1 firm has will be short lived - if a resource is common, it will result in perfect competition where no firm is able to maintain a competitive advantage Which of the following best exemplifies social complexity as isolating mechanism? Kristin's Cosmetics attempted to imitate how Monica's Makeup combined its management & product development systems w/ little success - social complexity describes situations in which different social & business systems interact w/ 1 another A firm will fail to create a sustained competitive advantage when the fit between its internal strengths & the external environment is statis - a firm must be able to change its resource base as the external environment changes - internal strengths should change w/ its external environment in a dynamic fashion Isolating Mechanisms barriers to imitation that prevent rivals from competing away from the advantage a firm may enjoy - better expectations of future resource value - path dependence, causal ambiguity, social complexity, intellectual property (IP) protection, unique historical conditions The tenet behind the triple-bottom-line is that a firm should achieve positive results along the economic, social, & ecological dimensio