Exam (elaborations)
GMS 200 Exam Review Questions and Answers
- Course
- Institution
GMS 200 Exam Review Questions and Answers
[Show more]
Content preview
GMS 200 Exam Review Questions andAnswers
The key result of achieving competitve 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
The characteristics that are typically 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 objectives and determining what should be done to accomplish them is the
essence of the management function of __________.
f. Productivity improvement.
g. Controlling.
h. Leading.
i. Organizing.
j. Planning. - Answer -j. Planning.
5. Planning facilitates control by defining the objectives and __________.
, a. Identifying the specific courses of action to be taken.
b. Creating specialization among the workers.
c. Improving organizational structures.
d. Developing the human resources.
e. Motivating the workers. - Answer -a. Identifying the specific courses of action to be
taken.
A comprehensive plan of action that identifies long-term direction for an organization
and guides resource utilization to accomplish an organization's goals with sustainable
competitive advantage is known as 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.
a. Core values.
b. Competitive advantage.
c. Strategic objectives.
d. Mission.
e. Strategic advantage. - Answer -d. Mission.
A(n) ____________ involves an assessment of organizational strengths and
weaknesses as well as environmental opportunities and threats.
a. Organizational objectives analysis.
b. SWOT analysis.
c. Profitability analysis.
d. Efficiency analysis.
e. Managerial objectives analysis. - Answer -b. SWOT analysis.
From the perspective of Porter's five forces model, a(n) __________ is one with less
intense competition, few threats from new entrants or substitutes, and low bargaining
power among suppliers and buyers.
a. Attractive industry.
b. Unattractive industry.
c. Competitive industry.
d. Noncompetitive industry.
e. Normal industry. - Answer -b. Unattractive industry
Which of the following is the most accurate description regarding the purpose of an
organization structure?
a. To divide up and coordinate resources and tasks to be done for performance
success.
b. To identify relationships between suppliers and company buyers.
c. To design titles for different types of workers.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller millyphilip. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77988 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now