BMGT 364 exam questions and answers 2021 docs University of Maryland

BMGT 364 exam questions and answers 2021 docs University of Maryland 1) Eco-friendly Cosmetics, Inc (EFC, Inc) is an environmentally friendly company that has decided to undertake a strategic planning project. It wants to ensure that is performs the process correctly and so intends to start the process with the first step of the strategic planning process, which is” 2) Planning translates strategic plans into specific actions that need to be implemented by departments throughout the organization 3) Manuel works for Resident Inn. In his position, he uses his personality, influence, persuasion and communication skills to coordinate the staff so they will perform at a high level to help organization meet its goals. Which management functions does Manuel carry out every day? 4) The Daily Grind Inc. has been selling coffee and tea products for the past five years. In the recent two years, The Daily Grind has experienced significant growth that has boosted the sales that has provided the company significant market share. Customers indicate that they enjy the products that the Daily Grind provides every day but what is truly appreciated is the service provided by employees. The employees are the company’s: 5) What is the end result of applying the Gilbreths Motion studies? 6) The four functions of the management process are: 7) The organizing function involves deciding how the organization will be structured 8) Ralph Lauren is an American clothing designer and namesake of his company. Over , sales plateaued and profits declined by 50%. In 2012, the company was worth $16 billion. Four years later, it was worth half that. Stefan Larsson, the CEO, attributed the decline to several factors, including a lack of ______, which led to merchandise piling up in bargain bins and outlet malls, diluting the brand’s cachet. 9) From the inception of his electric car company, Tesla, Elon Musk has emphasized innovation and quality above all else. Part of the company’s strategy is to never discount products, a policy that extends to all levels of the company. Upon hearing that same salespeople were offering promotional discounts in 2016, Musk sent an email to all Tesla employees that stated, “There can never – and I mean never – be a discount on a new car coming out of the factory in pristine condition. This is why I always pay full price when I buy a car and the same applies to my family friends, celebrities, no matter how famous or influential.” Why did musk feel the need to remind the entre company about the policy rather than just disciplining the offending salespeople? 10) Blue Sky’s is a small passenger airline business. The company wants to expand to fly to the Northwest United States. Joe, one of the managers at Blue Sky’s has tasked you to gather information to assess the market position compared to the company’s competitors. In completing this task, you will have completed a: 11) Barbra was asked to complete a SWOT analysis. Barbra knows that a SWOT indicates: 12) The first theorist to identify the functions of management: Planning, organizing, commanding, coordinating and controlling is: 13) Which statement best captures the meaning of value proposition? 14) The general environment analysis considers road societal dimensions influencing the industry or firms within it. The general environment area include: 15) Strategic management is: 16) Smith and Wesson, a firearms maker has experienced significant change to its business due to the influence of the internet. In the past, the company focused on making rifles but more recently has changed its attention to marketing and the news media, which has caused a shift in how the company’s resources can best be used to create goods and services. Which of the management functions is Smith and Wesson focused on in making th change? 17) This type of manager turns broad strategic plans into blueprints that provide specific objectives to first line managers: 18) Which statement below is true about competitive advantage? 19) When customers perceive the product differentiation as valuable, they will prefer to purchase the business’s product over a competitor’s product. This is called: 20) What is a limitation of scientific management: