MGT 590 Quizzes questions and answers 100% correct

MGT 590 Quizzes questions and answers 100% correct Grandad's Trading Corporation is a Murray-based organization that specializes in trading commodities. On their website, it states that "We aspire to be the most responsible commodities firm adhering to a triple-bottom line sustainability ideology." This is an example of a(n): Vision Goal Strategy Objective Vision Which of the following IS NOT one of the top three benefits of strategic management? Top-down decision making Improved understanding of rapidly changing environments Top-down decision making Bass Fishin' LLC specializes in making environmentally friendly fishing bait. Their website states that (1) they want to reduce their carbon emissions from operations, and (2) in order to do so they will reduce their use of fossil fuel generated energy by 2025. The first part of this statement is an example of a(n) _______________ and the second part is an example of a(n) ________________. Goal; Objective XYR Industries recently decided to engage in a strategy across all of its divisions targeting profit growth by expanding into international markets. This is an example of which type of strategy? Functional Corporate Business Workplace Corporate A ______________ defines the fundamental, unique purpose that sets a company apart from other firms. Mission Vision Goal Objective Mission Which of the following IS NOT a characteristic of a transformational CEO? Provides an example so that others can identify with them and follow the strategic vision Articulates strategic vision clearly for the entire organization Shows confidence in employees' ability to meet high performance standards Relies on the board of directors to craft the strategic vision and performance standards Relies on the board of directors to craft the strategic vision and performance standards There are many documented instances of unethical behaviors by top managers and board members of large publicly held corporations. Which of the following is a result of widespread unethical behavior by top managers and board members of publicly help corporations? The U.S. Congress monitors loans made to corporate officers The U.S. Congress passed the Sarbanes-Oxley Act Whistleblowers are not protected when reporting unethical behavior Board members are on corporate audit committees The U.S. Congress passed the Sarbanes-Oxley Act Dr. Jennings of the London Graduate School of Business was recently elected to serve on the board of directors for a steel company in the U.K. After working with the board for a year and a half, Dr. Jennings became known as the board member who would permit upper management to make decisions and vote at their recommendations with concerns to strategic decisions. This is an example of which degree of involvement? Rubber stamp Catalyst Phantom Active participant Rubber stamp Dr. Sroufe of the Donahue Graduate School of Business was recently elected to serve on the board of directors for a steel company in Pittsburg. After working with the board for a year and a half, Dr. Sroufe became known as the board member who would go above-and-beyond to help upper management consider strategies that were consistent with the company's stated goals and objectives. He was also involved in a recent update to the company's mission and vision. This is an example of which degree of involvement? Active participant Nominal participant Catalyst Minimal review Active participant Which of the following IS NOT a primary responsibility of a member of the board of directors To specify specific strategic actions needed to management to meet mission To monitor developments in the markets in which the organization operates To manage the affairs of the organization To evaluate management's proposals, decisions, and actions To manage the affairs of the organization _________________ is based on philosophical grounds whereas __________________ generally agreed upon standards of behavior. Morality; ethics The concept of social responsibility has evolved from a singular focus on economic responsibilities to creditors and shareholders to also include ethical and discretionary responsibilities outside the organization. What is likely to happen if an organization continues to maximize profits while not engaging in ethical and/ or discretionary activities? There may be outside intervention that provides financial incentives to engage in responsible activities It is common for organizations entering new International markets to encounter unethical decisions locally. Which of the following is a reason that unethical decision may occur internationally? Because governance is very similar in the host country Because value systems differ from country to country Because local rules are clear and enforced Because the parent company has close control over the culture of international operations Because value systems differ from country to country Which of the following IS NOT a step in stakeholder analysis? Omit stakeholders from consideration that do not have a direct connection Estimate the effects of decisions on stakeholders Identify direct stakeholders Omit stakeholders from consideration that do not have a direct connection Many businesses adopt the triple-bottom line approach to sustainability (discussed in chapter 1 as well). This approach considers sustainability as consisting of three distinct components. Which of the following IS NOT one of the three central components of sustainability within this approach? Economic Environmental Legal Societal Legal What is true of intensity when conducting a Porter's five forces analysis? The higher the intensity of forces, the lower the potential to make above average profits [NOT CORRECT] The lower the intensity of forces, the lower the potential to make above average profits The lower the intensity of forces, the greater the potential to make above average profits The lower the intensity of forces, the greater the potential to make above average profits What does SWOT stand for? strengths, weaknesses, opportunities, threats Red and Green Light Consulting LLC is in the environmental consulting industry. They specialize in crafting natural disaster response plans, coaching managers on how to assess sociocultural forces, and teaching divisional staff how to conduct Porter's Five Forces analysis. Which external variable would most likely be considered when crafting natural disaster identification and preparedness plans? Natural There are several socio-cultural trends that are relevant when conducting STEEP analyses. Which of the following IS NOT a current socio-cultural trend? There is a growing level of health consciousness Senior markets are expanding There are lower levels of environmental awareness There are lower levels of environmental awareness Rosco's Fence and Glass LLC is a Billings, Montana based company that specializes in manufacturing and installing vinyl fences and siding. They are considering entering the Murray, Kentucky market and are interested in the profit potential in the local market. Which of the following forces would likely encourage Holiday Fences and Siding to enter the Murray market? A limited number of competitors in Murray Businesses often use a SWOT analysis as a strategic analysis tool to inform boundary-spanning decisions. Internal and external scanning and analysis are both considered within a strategic SWOT analysis. What are the two considerations considered when scanning the external environment? Opportunities and threats What is true of a Porter's Five Forces analysis? If the forces are moderate this positively influences profit potential If the forces are low this positively influences profit potential If the forces are high this positively influences profit potential If the forces are low this positively influences profit potential Cobra Fire Consulting LLC is intended in how they can best utilize their resources to build distinctive competencies. Cobra specializes in management training, management analytics, and employee behavioral interventions. Cobra prides itself on having the (1) most educated staff and (2) the best reputation in the business. Which two capabilities are the MOST likely to develop into a core competency? Operations and Logistics and Marketing Operations and Logistics and Human Resource Management [INCORRECT] Human Resource Management and Marketing R&D and Marketing ...