Mgt exam 2 - Study guides, Class notes & Summaries

MGT 300 exam 2 Review Questions and answers, graded A+/ verified. Describe the link between planning, strategy and strategic management. - -Planning (first of the 4 functions of management process) involves setting goals and decided how to achieve them while ensuring the plans are linked to the business strategy. Defintion and purpose of Planning - -Definition: 1. Setting goals and deciding how to achieve them 2. Coping with uncertainty by formulating future courses of action to achiev...

A - Answer-Which is the best question to ask when starting the strategic management process? A) "What is our mission?" B) "How well are we currently doing?" C) "How can we get where we want to be?" D) "Why aren't we doing better?" B - Answer-The ability of a firm to consistently outperform its rivals is called ___________. A) vertical integration B) competitive advantage C) strategic intent D) core competency B - Answer-General Electric is a complex congl...

OMGT Exam 2 – Questions With Verified Answers

MGT 103 EXAM 2 QUESTIONS AND ANSWERS

MGT 103 - Chapter 2 Exam Questions and Answers

six steps in product development are.. - Answer-idea generation, development, product screening, testing, commercialization, product analysis Over _____ of products fail in their first year by not delivering what is promised, poor positioning, competitive market forces, etc - Answer-80% this is used to entice customers (can also include factors such as service, surroundings, past experience, delivery, brand) - Answer-total product offering/value package products are grouped into ______,...

MGT 103 Midterm 2 Exam Questions and Answers

task role - Answer-A ________ is defined as a set of expected behaviors for a particular position that helps enable the work group to define, clarify, and pursue a common purpose. norming - Answer-Group cohesiveness, defined as the "we" feeling that binds members of a group together, is a principal by-product of which stage of the group development process? employee involvement teams - Answer-Quality circles consist of individuals who normally perform core production tasks but also...

MGT 300 EXAM 2 Review Questions and answers, Graded A+/ verified. administrative model - -An approach to decision making that explains why decision making is inherently uncertain and risky and why managers usually make satisfactory rather than optimum decisions. Based on: bounded rationality, incomplete information, satisficing. ambiguous information - -Information that can be interpreted in multiple and often conflicting ways. authority - -the power to hold people accountable for their a...

OMGT Exam 2 Questions with Complete Answers