Exam (elaborations)
CIA Exam Part 3
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- PSYC210 Exam 02 Review
- Institution
- PSYC210 Exam 02 Review
Exam of 12 pages for the course PSYC210 Exam 02 Review at PSYC210 Exam 02 Review (CIA Exam Part 3)
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CIA Exam Part 3Behavior Modification - ANS-the use of operant-conditioning techniques to eliminate
unwanted behaviors and replace them with desirable ones
P - Positive Reinforcement: something that results in repetition or inhibition of a
behavior
A - Avoidance Learning: The removal of negative effect of prior behavior
P - Punishment: imposes negative consequences for unaceptable behavior. Decreases
probability that the behavior will recur.
E - Extinction: Withholds reward, behavior that is not positively reinforced eventually
ceases.
R - Reinforcement: something that results in repetition or inhibition of a behavior
Bureaucracy - ANS-The ultimate classical organization. It is founded on efficient military
principles, including merit-based personnel decision.
Characteristics:
* Division of Labor
* A hierarchy of clearly defined authority and responsibility
* Written rules that apply consistently to everyone
* Separation of ownership and management
* Administrative acts and decisions are documented
* Employees are hired and promoted based on qualifications
A sign that a bureaucracy is dysfunctional:
* The development of rules that are meaningless or that obscure accountability
Business Growth Rate - ANS-Pertains to how rapidly the entire industry is increasing
and relates to:
* the maturity and attractiveness of the market
* the relative need for cash to finance expansion
Cash Cows - ANS-Low-growth, high-share businesses or products. These established
and successful SBUs need less investment to hold their market share. Thus, they
produce a lot of the cash that the company uses to pay its bills and support other SBUs
that need investment.
, * Strong competitors and cash generators
* Strong Cash Flows
Competitive Strategy - ANS-an organizational strategy for how an organization will
compete in its business(es) competitive environment
Controls and Feedback (Strategic Management Process) - ANS-Strategic controls and
feedback are used to monitor progress, isolate problems, and take corrective action.
Over the long term, feedback can be used to adjust the original mission and goals.
Cost Focused Strategy - ANS-One of Porter's four competitive strategies; keeping the
costs, and hence prices, of a product or service below those of competitors and to
target a narrow market. A firm adopting this strategy is most likely to know its market
well.
(Narrow/Small Market x Low Cost Advantage)
Competitive Strategies:
* Rivalry w/ Competition: More attention to customer price needs
* New Entrants: Develop cost core competency as barrier
* Substitutes: Develop cost core competencies to protect from sub
* Customer Power: limit buyer's ability to negotiate for better price
* Supplier Power: Give in to supplier power, pass on to consumer
Cost Leadership Strategy - ANS-A generic business strategy that seeks to create the
same or similar value for customers at a lower cost. Aimed at a wide market.
(Wide/Large Market x Low Cost Advantage)
Competitive Strategies
* Rivalry w/ Competition: Competes by charging lower prices
* New Entrants: Use lower prices as barrier for new entry
* Substitutes: Low prices that substitutes cannot match
* Customer Power: Profit while charging for low prices
* Supplier Power: Provides protection from strong suppliers
Cost Synergy - ANS-Savings from combinations of common-base operations,
resources, and facilities
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