MGMT 5560 Murphy Questions with 100%
Correct Answers
ECO Jeans, Inc. had a mission to become the leading producer of environmentally
friendly blue jeans, an emerging and in-demand category in the apparel industry. Its
strategy involved leveraging a network of organic cotton farmers and suppliers of
environmentally responsible synthetic materials to create a product that is durable,
attractive, affordable, and 100% recyclable. However, because it did not upgrade its
outdated production facilities, ECO Jeans could not assemble its products at a low-
enough cost to offer the jeans at a price that was attractive to customers. ECO Jeans'
strategy failed because
- it failed to consider the competitive challenge.
- it was not backed up with strategic commitments.
- managers did not live by the company's core values.
-the company did not stake out a unique strategy position.
it was not backed up with strategic commitments.
Green and Good Inc., a multinational company, relies on its media partner OmniSignal
to regularly advertise its offers, sales, and new products. OmniSignal is invested in this
relationship because it generates most of its revenue from advertising Green and Good's
products. In this scenario, OmniSignal is Green and Good Inc.'s
-stockholder.
-workforce.
-internal stakeholder.
-external stakeholder.
-external stakeholder
,The first step in stakeholder impact analysis involves
-formulating a stakeholder strategy to balance the different needs of various
stakeholders.
- identifying the opportunities and threats the stakeholders present.
-describing the economic, legal, ethical, and philanthropic responsibilities of the firm
toward society.
-identifying the stakeholders that currently have, or potentially can have, a material
effect on a company
identifying the stakeholders that currently have, or potentially can have, a material effect on a
company
Tommy wants to open his own food truck but doesn't know anything about business. He
needs help determining who his competition is, how he should craft his strategy to
compete and how he'll implement his strategy to achieve a competitive advantage. He's
hired you to help him get started. As a result, you know that you will probably use the
-AFI strategy framework.
-business model analysis.
-Six Sigma tool.
-Stakeholder Impact analysis.
AFI strategy framework.
Which of the following tasks in the AFI strategy framework involves evaluating the
internal and external environments in which a firm operates?
-analysis
-formulation
, - implementation
-competitive advantage
analysis
In order to better achieve a competitive advantage, firms must now adopt a holistic
approach towards satisfying multiple stakeholders opposed to focusing on the needs of
their stockholders. This integrative approach is referred to as
-stakeholder strategy.
-internal shareholder strategy.
-integration strategy.
-exchange relationship strategy.
stakeholder strategy
Jill is interested in the concept of strategy and decides to create her own. As a result, Jill
says that her strategy is to focus on growth and marketing to achieve competitive
advantage. How would you evaluate Jill's statement?
-Jill's strategy makes sense and she should move forward with it.
-Jill's strategy reveals a clear strategic position and tradeoff, so she should proceed.
-Jill should reevaluate her statement because it fails to mention human resources and
finance.
-Jill should reevaluate her statement because it fails to meet the principles of what a
strategy should be.
Jill should reevaluate her statement because it fails to meet the principles of what a strategy
should be.
As the legal owners,_______ have the most legitimate claim on a company's profits.
-creditors
Correct Answers
ECO Jeans, Inc. had a mission to become the leading producer of environmentally
friendly blue jeans, an emerging and in-demand category in the apparel industry. Its
strategy involved leveraging a network of organic cotton farmers and suppliers of
environmentally responsible synthetic materials to create a product that is durable,
attractive, affordable, and 100% recyclable. However, because it did not upgrade its
outdated production facilities, ECO Jeans could not assemble its products at a low-
enough cost to offer the jeans at a price that was attractive to customers. ECO Jeans'
strategy failed because
- it failed to consider the competitive challenge.
- it was not backed up with strategic commitments.
- managers did not live by the company's core values.
-the company did not stake out a unique strategy position.
it was not backed up with strategic commitments.
Green and Good Inc., a multinational company, relies on its media partner OmniSignal
to regularly advertise its offers, sales, and new products. OmniSignal is invested in this
relationship because it generates most of its revenue from advertising Green and Good's
products. In this scenario, OmniSignal is Green and Good Inc.'s
-stockholder.
-workforce.
-internal stakeholder.
-external stakeholder.
-external stakeholder
,The first step in stakeholder impact analysis involves
-formulating a stakeholder strategy to balance the different needs of various
stakeholders.
- identifying the opportunities and threats the stakeholders present.
-describing the economic, legal, ethical, and philanthropic responsibilities of the firm
toward society.
-identifying the stakeholders that currently have, or potentially can have, a material
effect on a company
identifying the stakeholders that currently have, or potentially can have, a material effect on a
company
Tommy wants to open his own food truck but doesn't know anything about business. He
needs help determining who his competition is, how he should craft his strategy to
compete and how he'll implement his strategy to achieve a competitive advantage. He's
hired you to help him get started. As a result, you know that you will probably use the
-AFI strategy framework.
-business model analysis.
-Six Sigma tool.
-Stakeholder Impact analysis.
AFI strategy framework.
Which of the following tasks in the AFI strategy framework involves evaluating the
internal and external environments in which a firm operates?
-analysis
-formulation
, - implementation
-competitive advantage
analysis
In order to better achieve a competitive advantage, firms must now adopt a holistic
approach towards satisfying multiple stakeholders opposed to focusing on the needs of
their stockholders. This integrative approach is referred to as
-stakeholder strategy.
-internal shareholder strategy.
-integration strategy.
-exchange relationship strategy.
stakeholder strategy
Jill is interested in the concept of strategy and decides to create her own. As a result, Jill
says that her strategy is to focus on growth and marketing to achieve competitive
advantage. How would you evaluate Jill's statement?
-Jill's strategy makes sense and she should move forward with it.
-Jill's strategy reveals a clear strategic position and tradeoff, so she should proceed.
-Jill should reevaluate her statement because it fails to mention human resources and
finance.
-Jill should reevaluate her statement because it fails to meet the principles of what a
strategy should be.
Jill should reevaluate her statement because it fails to meet the principles of what a strategy
should be.
As the legal owners,_______ have the most legitimate claim on a company's profits.
-creditors
