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GMS 200 Exam Review Exam Questions And Answers
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GMS 200 Exam Review Exam Questions And AnswersThe key result of achieving competitive advantage is _______
A. An ability to sidestep government regulations.
B. An ability to consistently do something of high value which one's competitors cannot
replicate quickly or do as well.
C. An ability to drive the competition out of business and to make extraordinarily high
profits.
D. An ability to establish a monopolistic market position.
E. An ability to dictate consumer needs and preferences. - Answer An ability to
consistently do something of high value which one's competitors cannot replicate quickly
or do as well.
__________ is the worldwide interdependence of resource flows, product markets, and
business competition that characterizes the new economy
A. Economic internationalization.
B. International management.
C. Globalization.
D. World interdependence.
E. Cross-cultural business. - Answer International management
Characteristics commonly associated with entrepreneurs include all of the following
EXCEPT:
a. Internal locus of control.
b. High need for achievement.
c. Intolerance for ambiguity.
, d. Action orientation.
e. Self-confidence. - Answer Intolerance for ambiguity
Setting goals and determining what needs to be done to achieve them is the definition of
the management function of __________.
f. Productivity improvement.
g. Controlling.
h. Leading.
i. Organizing.
j. Planning. - Answer j. Planning.
5. Planning allows control because it outlines the objectives and __________.
a. Identifies the specific actions to be undertaken.
b. It gives a special division of labour among the employees.
c. It develops the structural organizations.
d. It develops the human capital.
e. Motivates the laborers. -Answer a. Identifies the specific actions to be undertaken.
A broad plan of action that outlines an organization's long-term direction and guides
resource allocation to achieve the organization's aims and objectives in a sustainable
manner, with real and defendable competitive advantage, is called the __________.
a. Operating philosophy.
b. Strategy.
c. Planning objectives.
d. Operating objectives.
e. Official objectives. - Answer Answer. B.
__________refer(s) to an organization's basic reason for existence in society.
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