Exam (elaborations)
BUS 302 Sophia Milestone 1
- Course
- BUS 302
- Institution
- Strayer University
BUS 302 Sophia Milestone 1
[Show more]
Content preview
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
Report an issue with this question
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
Report an issue with this question
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
Report an issue with this question
4
What is the progression of activities a company undertakes to create a
product or service that consumers will pay for?
Patterned advance
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 Bmwspeedemon. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $4.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78998 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now