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Chapter 2 - MGT 310 Questions &Exam (elaborations) answers 100% satisfaction guarantee
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Chapter 2 - MGT 310When a brand advertises its products as being superior to that of its competitors, it is demonstrating -
✔✔competitive aggression.
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The main difference between a final consumer and an intermediate consumer is that -
✔✔intermediate consumers buy raw materials and sell finished products to final consumers, who
use them.
A human resources manager is considering changing her company's vacation policy. Before she
makes a proposal to the senior executive team, she researches the vacation policies of other leading
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companies in her industry. This is an example of - ✔✔benchmarking
The immediate environment surrounding a firm is known as its - ✔✔competitive environment.
A firm's current competition, suppliers, customers, and the threat of new entrants or of substitutes are
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all elements in the - ✔✔Porter's model for competitive environment.
In some situations, two or more organizations work together using _____ to influence the
environment. - ✔✔cooperative strategies
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Which of the following is true about using forecasts? - ✔✔Multiple forecasts are best, and their
predictions can be averaged.
Paolo has been offered jobs at two different retail companies and needs to decide which one to
accept. Which of the following can be a useful clue about each organization's culture? - ✔✔the way
employees interact with customers
The set of important assumptions about an organization and its goals and practices that members of
the company share is called organization - ✔✔culture
Which of the following combinations can result in a best-case scenario? - ✔✔high industry growth,
low threat with and many entry barriers, and customers with low bargaining power
Which of the following is said to occur when two or more firms combine? - ✔✔a merger
Creating supplies of excess resources in case of unpredictable needs is known as - ✔✔buffering
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