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MAN 320F Exam 2 Questions and Answers
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MAN 320F Exam 2 Questions and Answers
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MAN 320F Exam 2 Questions and AnswersBlue Ocean Strategy - Answer -An approach where firms seek to create and compete in
uncontested "blue ocean" market spaces, rather than competing in spaces and ways that have attracted many, similar rivals.
Innovator's Dilemma - Answer -Established companies can take advantage of disruptive
technologies without hindering existing relationships with customers, partners, and stakeholders
Tech and globalization - Answer -Technology has led to products being more readily available for consumers. Also, niche markets and monopolies disappear
Venture Capital - Answer -Money that is invested in new or emerging companies that are perceived as having great profit potential
Reasons for not investing - Answer -1. Do not think management can pull it off
2. Risk return profile is not applicable
Why didn't they invest in Dell and Whole Foods - Answer -Dell did not graduate college and Whole Foods was not mainstream
How were Dell and Whole Foods successful without venture capital - Answer -Market opportunity was strong
Good strategies - Answer --low cost and high value for customers
-plan for long term success
-break cost-value tradeoff
Strategic Management - Answer -1. Establish direction 2. Create strategies to achieve goals
3. Execute strategies
Mission vs Values - Answer -Mission says "who we are" and values says "who we want to be"
Porter's 5 Forces Model - Answer -1. threat of entry
2. power of suppliers 3. power of buyers
4. threat of substitutes
5. rivalry among existing competitors
Generate superior profits by - Answer --Scalability
-Strong branding
-Low costs
-New pools of buyers
Cola Wars Case Study - Answer --Soda is #1 beverage after water
-Americans consume over 40 gallons
-World-wide per capita consumption is 5 gallons
-North Korea and Cuba cannot sell coke
-majority of sales come from outside of US
-Reasons for success are barriers to entry and advertising
-Rivalry drives cola war
Cynthia Carrol Case Study - Answer --make shareholders happy or create safer working
environment
-will lose 8 million a day if mine closes
-stock is already lagging
-know pros and cons of closing the mine
-look at why Caroll is right vs wrong choice
-mines were brought up to standards in 3 months, given permission to close if safety issues arose, workers felt safe and empowered
-still must create long-term plan
Prion Disease Case Study - Answer --all crises have element of surprise, insufficient info, quick pace, intense scrutiny, and negative news will spread faster than good news
-at meeting they decided to keep info internal but of course it got out and bad news spread
-risk of telling patients outweighed risk of them not knowing
Argentis Crisis Playbook - Answer -1. get control of situation
2. gather as much info as possible
3. set up crisis management center
4. communicate early and often
5. understand medias mission in a crisis
6. communicate directly with those affected
7. business must continue
8. make plans to avoid another crisis
3 stages of globalization - Answer -1) internationalization of countries
2) internationalization of companies
3) individuals/firms compete on a global basis
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