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Chapter 2 - MGT 310 Questions with 100% Correct Answers | Verified | Latest Update 2024
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Chapter 2 - MGT 310 Questions with 100% Correct Answers | Verified | Latest Update 2024
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Chapter 2 - MGT 310_____ are measures of various characteristics of the people who make up groups or other social units. -
✔✔Demographics
_____ lead to new products, advanced production facilities, and better ways of managing and communicating.
%
- ✔✔Technological advances
A customer who purchases raw materials or wholesale products before selling them to other parties is known
as a(n) - ✔✔intermediate consumer.
0
A firm's current competition, suppliers, customers, and the threat of new entrants or of substitutes are all
elements in the - ✔✔Porter's model for competitive environment.
A human resources manager is considering changing her company's vacation policy. Before she makes a
proposal to the senior executive team, she researches the vacation policies of other leading companies in her
industry. This is an example of - ✔✔benchmarking
0
Creating supplies of excess resources in case of unpredictable needs is known as - ✔✔buffering
Diversified Industries decides to use the expertise it has from its canned-pet-food division and its health-food
1
division to enter the fast-growing market for fresh, natural pet foods. This is an example of - ✔✔domain
selection.
How is immigration affecting U.S. demographics? - ✔✔It is increasing the diversity of the workforce.
In some situations, two or more organizations work together using _____ to influence the environment. -
✔✔cooperative strategies
Paolo has been offered jobs at two different retail companies and needs to decide which one to accept. Which
of the following can be a useful clue about each organization's culture? - ✔✔the way employees interact with
customers
The immediate environment surrounding a firm is known as its - ✔✔competitive environment.
The main difference between a final consumer and an intermediate consumer is that - ✔✔intermediate
consumers buy raw materials and sell finished products to final consumers, who use them.
The recent legalization of same-sex marriage has major implications for how companies manage their labor
force. For example, companies must now make sure their benefit packages include all types of family
structures. This is an example of how _____ trends affect businesses. - ✔✔societal
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