MGMT 4513 Final EXAM Questions with 100% Correct Answers | Verified |
Updated (Actual Exam) LATEST VERSION!!
Mission - (ANSWER)statement explaining why a company exists
Vision - (ANSWER)Crystallization of what leaders want firm to be
Strategic Plan - (ANSWER)How to beat present and potential competitors
Stakeholders - (ANSWER)individuals and groups who can affect, and are affected by, the strategic
outcomes achieved and who have enforceable claims on a firm's performance
Capital Market Stakeholders - (ANSWER)Shareholders
Major suppliers of capital.
Expect the firm to preserve and enhance the wealth they have entrusted to it
Product Market Stakeholders - (ANSWER)Primary Customers- demand reliable products at low prices
Suppliers- seek loyal customers willing to pay highest sustainable prices for goods and services
Host Communities- want companies willing to be long-term employers and providers of tax revenues
while minimized demands on public support services
Unions- want secure jobs and desirable work conditions
Organizational Stakeholders - (ANSWER)Employees- expect a dynamic, stimulating and rewarding work
environment
Managers
Non-managers
General Environment - (ANSWER)Focused on the future.
Little ability to predict them
Even less ability to control them
,MGMT 4513 Final EXAM Questions with 100% Correct Answers | Verified |
Updated (Actual Exam) LATEST VERSION!!
Can vary across industries
Industry environment - (ANSWER)focused on factors and conditions influencing a firm's profitability
within an industry
Competitor environment - (ANSWER)focused on predicting the dynamics of competitors' actions,
responses and intentions
General Environment Examples - (ANSWER)Demographic
Sociocultural
Political/Legal
Technological
Economic
Global
Industry Environment - (ANSWER)Threat of new entrants
Power of suppliers
Power of buyers
Product Substitutes
Intensity of Rivalry
Porter's Five Forces Model of Industry Competition - (ANSWER)Potential Entrants (threat of new
entrants)
Buyers (bargaining power of buyers)
Suppliers (bargaining power of suppliers)
Substitutes (threat of substitute products and services)
, MGMT 4513 Final EXAM Questions with 100% Correct Answers | Verified |
Updated (Actual Exam) LATEST VERSION!!
Threat of New Entrants - (ANSWER)profits of established firms in the industry may be eroded by new
competitors
Threat of new entrants: Barriers to entry - (ANSWER)High barriers of entry in an industry reduces threat
of new entrants:
Economics of scale
Product differentiation
Capital requirements
Switching costs
Access to distribution channels
Cost disadvantages independent of scale
Government policy
Expected retaliation
Barriers to Entry - (ANSWER)Economics of scale: marginal improvements as it incrementally increases its
size
Product differentiation - (ANSWER)unique products
customer loyalty
products at competitive prices
Capital requirements - (ANSWER)physical facilities
inventories
marketing activities
availability of capital
Switching costs - (ANSWER)one-time customers incur when they buy from a different supplier
new equipment
Updated (Actual Exam) LATEST VERSION!!
Mission - (ANSWER)statement explaining why a company exists
Vision - (ANSWER)Crystallization of what leaders want firm to be
Strategic Plan - (ANSWER)How to beat present and potential competitors
Stakeholders - (ANSWER)individuals and groups who can affect, and are affected by, the strategic
outcomes achieved and who have enforceable claims on a firm's performance
Capital Market Stakeholders - (ANSWER)Shareholders
Major suppliers of capital.
Expect the firm to preserve and enhance the wealth they have entrusted to it
Product Market Stakeholders - (ANSWER)Primary Customers- demand reliable products at low prices
Suppliers- seek loyal customers willing to pay highest sustainable prices for goods and services
Host Communities- want companies willing to be long-term employers and providers of tax revenues
while minimized demands on public support services
Unions- want secure jobs and desirable work conditions
Organizational Stakeholders - (ANSWER)Employees- expect a dynamic, stimulating and rewarding work
environment
Managers
Non-managers
General Environment - (ANSWER)Focused on the future.
Little ability to predict them
Even less ability to control them
,MGMT 4513 Final EXAM Questions with 100% Correct Answers | Verified |
Updated (Actual Exam) LATEST VERSION!!
Can vary across industries
Industry environment - (ANSWER)focused on factors and conditions influencing a firm's profitability
within an industry
Competitor environment - (ANSWER)focused on predicting the dynamics of competitors' actions,
responses and intentions
General Environment Examples - (ANSWER)Demographic
Sociocultural
Political/Legal
Technological
Economic
Global
Industry Environment - (ANSWER)Threat of new entrants
Power of suppliers
Power of buyers
Product Substitutes
Intensity of Rivalry
Porter's Five Forces Model of Industry Competition - (ANSWER)Potential Entrants (threat of new
entrants)
Buyers (bargaining power of buyers)
Suppliers (bargaining power of suppliers)
Substitutes (threat of substitute products and services)
, MGMT 4513 Final EXAM Questions with 100% Correct Answers | Verified |
Updated (Actual Exam) LATEST VERSION!!
Threat of New Entrants - (ANSWER)profits of established firms in the industry may be eroded by new
competitors
Threat of new entrants: Barriers to entry - (ANSWER)High barriers of entry in an industry reduces threat
of new entrants:
Economics of scale
Product differentiation
Capital requirements
Switching costs
Access to distribution channels
Cost disadvantages independent of scale
Government policy
Expected retaliation
Barriers to Entry - (ANSWER)Economics of scale: marginal improvements as it incrementally increases its
size
Product differentiation - (ANSWER)unique products
customer loyalty
products at competitive prices
Capital requirements - (ANSWER)physical facilities
inventories
marketing activities
availability of capital
Switching costs - (ANSWER)one-time customers incur when they buy from a different supplier
new equipment
