MGT 300 Exam 1 ASU Neck Questions With Complete
Solutions
________ is a strategy that determines how a business will
compete in a particular industry or market Correct Answer
Divisional Strategy
2 main competing forces at play that influence change (Force
Field analysis). Conduct FF to assess need for change and
potential obstacles you might need to overcome before change is
made. Correct Answer Driving forces- provide motivation
towards achieving goal
Restraining forces- change impede the progress of goal
3 keys in nonfinacial areas for company Correct Answer 1.
companys relationship w customers
2. its key internal processes
3. its learning an growth
3 levels of strategy Correct Answer Organizational, divisional,
functional
3 resources that affect businesses operations Correct Answer
water, food, energy
3 skills that determine manager's success or failure in carrying
out their responsibilites Correct Answer Conceptual, technical,
and relational
3 stages of hero Correct Answer 1. leaving home for adventure
2. facing barriers that question success
,3. returning home successful
3 ways that managers respond to customer needs: Correct
Answer Reactive engagement, proactive engagement, and
interactive engagement
3P's (trible bottom line) Correct Answer People, profit, planet
(yield great results to be successful for company)
Ex: patagonia
4 functions of management- Controlling Correct Answer
Measuring how close we are to achieving goal and mission
-monitoring activities, measuring results and comparing them w
goals
4 functions of management- Leading Correct Answer Leading
and motivating people for goal achievement
4 functions of management- Organization: Correct Answer
Allocation of resources, what needs to be done for long-term
goals
-orchestrating people actions resources decisions to achieve
goals
4 functions of management- Planning: Correct Answer
Determine long-term missions and goals and business plan to
ahcieve goals
Achieving goals by altering behaviors or process in response to
environment force is known as ______ Correct Answer Change
Management
, Acquisition Correct Answer Organizations purchase of another
organization or business to promote growth
Advocacy Group Correct Answer Set of people dedicated to
instituting change based on their concerns or interests
-Gun outlaw group
Ambiguity bias Correct Answer Unclear pieces of info
interfere w the accurate perception of a problem, even as new
info is revealed. It is harder to conceptualize the problem if the
initial evidence is unclear, thus problem solvers are slow to
accept subsequent data-based clarification
Analyzer Correct Answer Company whose strategies seek to
maintain existing products and services while pursing limited
innovation
Anchoring bias Correct Answer Form of perception resistance,
where current perceptions are "anchored" to an old assumption
Art side of business Correct Answer People-focused side of
managers duties (collaborates and communicates w their team to
pursue goal)
Ex: collaborating, presenting, leading meetings, building
relationships, negotiating
Availability bias Correct Answer Situational analysis is often
influenced by brains automatically recall of the most recent
circumstance.
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