Exam (elaborations)
BUS 302 Sophia Milestone 1
- Course
- BUS 302
- Institution
- Strayer University
BUS 302 Sophia Milestone 1
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Principles of ManagementUnit 1 / Milestone 1
20/20 that's 100%
RETAE
20 questions were answered correctly.
1
What is a business unit with high market share in a market that isn’t
growing?
A cash cow
A dog
A star
A question mark
CONCEPT
Strategic Objectives and Levels of Strategy
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2
What is the effect of a reflective system of decision-making?
It enhances decision-making ability.
It causes decision-making bias.
It is quick and intuitive.
, It is easily disrupted.
RATIONALE
The reflective system of decision-making in the brain is logical, analytical, and
methodical, thereby enhancing decision-making ability.
CONCEPT
Barriers to Effective Decision-Making
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3
Your boss at a communications company asks you to come up with
ideas to prevent customers from switching to competitors, which they
can do at a low cost.
What should you recommend?
Examine demographic and socioeconomic trends.
Threaten the competitors with legal action.
Increase the quality of customer service.
Take legal action against switching customers.
RATIONALE
Because switching costs are low, increasing the value you provide customers may be a
way to retain them longer as customers. Increasing switching costs is also an option but
may backfire in the long run.
CONCEPT
A Firm's Micro Environment: Porter's Five Forces
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4
What is the progression of activities a company undertakes to create a
product or service that consumers will pay for?
Patterned advance
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