ADMN 232 Final Review Practice Questions And
Answers
competitive advantage - CORRECT ANSWER-using resources to provide greater
value for customers than competitors can
sustainable competitive advantage - CORRECT ANSWER-competitive advantage
that other companies have tried unsuccessfully to duplicate and have, for the
moment, stopped trying to duplicate
situational analysis (SWOT analysis) - CORRECT ANSWER-an assessment of the
strengths and weaknesses in an organization's internal environment and the
opportunities and threats in its external environment
portfolio strategy - CORRECT ANSWER-a corporate-level strategy that minimizes
risk by diversifying investment among various businesses or product lines
unrelated diversification - CORRECT ANSWER-creating or acquiring companies in
completely unrelated businesses
BCG Matrix - CORRECT ANSWER-a portfolio strategy developed by the Boston
Consulting Group that categorizes a corporation's businesses by growth rate and
relative market share and helps managers decide how to invest corporate funds
star - CORRECT ANSWER-a company that has a large share of fast-growing market
question mark - CORRECT ANSWER-a company that has a small share of a fast-
growing market
cash cow - CORRECT ANSWER-a company that has a large share of a slow-
growing market
dog - CORRECT ANSWER-a company that has a small share of a slow-growing
market
grand strategy - CORRECT ANSWER-a broad corporate-level strategic plan used to
achieve strategic goals and guide the strategic alternatives that managers of
individual businesses or sub-units may use in deciding what businesses they should
be in
growth strategy - CORRECT ANSWER-increase profits, revenues, market share, or
the number of place (stores, offices, locations) in which the company does business
five industry forces - CORRECT ANSWER-1. competitive rivalry
2. threat of new entrants
3. threat of substitute products or services
4. bargaining power of suppliers
5. bargaining power of buyers
, design competition - CORRECT ANSWER-old technology and several different new
technologies compete to establish a new technological standard or dominant design
organizational structure - CORRECT ANSWER-the vertical and horizontal
configuration of departments, authority and jobs within a company
organizational process - CORRECT ANSWER-the collection of activities that
transform inputs into outputs that customers value
functional departmentalization - CORRECT ANSWER-organizes work and workers
into separate units responsible for business functions or areas of expertise
product departmentalization - CORRECT ANSWER-organizes work and workers into
separate units responsible for producing products or services
Matrix Departmentalization - CORRECT ANSWER-A hybrid structure in which two or
more forms of departmentalization are used together
Customer Departmentalization - CORRECT ANSWER-organizing work and workers
into separate units responsible for particular kinds of customers
Geographic Departmentalization - CORRECT ANSWER-organizing work and
workers into separate units responsible for doing business in particular geographic
areas
Job Design - CORRECT ANSWER-the number, kinds, and variety of tasks that
individual workers perform in doing their jobs
job enlargement - CORRECT ANSWER-increasing the number of different tasks that
a worker performs within one particular job
job enrichment - CORRECT ANSWER-attempts to overcome the deficiencies in
specialized work by increasing the number of tasks and by giving workers the
authority and control to make meaningful decisions about their work
Intra-organizational process - CORRECT ANSWER-the collection of activities that
take place within an organization to transform inputs into outputs that customers
value
inter-organizational process - CORRECT ANSWER-a collection of activities that
occur among companies to transform inputs into outputs that customers value
virtual organization - CORRECT ANSWER-groups of geographically and/or
organizationally distributed participants who collaborate toward a shared goal using
a combination of information and communications technologies to accomplish a task
cross-traning - CORRECT ANSWER-team members are taught how to do all or most
of the jobs performed by other team members. The advantage for the organization is
that cross-training allows a team to function normally when one member is absent,
quits, or transferred
Answers
competitive advantage - CORRECT ANSWER-using resources to provide greater
value for customers than competitors can
sustainable competitive advantage - CORRECT ANSWER-competitive advantage
that other companies have tried unsuccessfully to duplicate and have, for the
moment, stopped trying to duplicate
situational analysis (SWOT analysis) - CORRECT ANSWER-an assessment of the
strengths and weaknesses in an organization's internal environment and the
opportunities and threats in its external environment
portfolio strategy - CORRECT ANSWER-a corporate-level strategy that minimizes
risk by diversifying investment among various businesses or product lines
unrelated diversification - CORRECT ANSWER-creating or acquiring companies in
completely unrelated businesses
BCG Matrix - CORRECT ANSWER-a portfolio strategy developed by the Boston
Consulting Group that categorizes a corporation's businesses by growth rate and
relative market share and helps managers decide how to invest corporate funds
star - CORRECT ANSWER-a company that has a large share of fast-growing market
question mark - CORRECT ANSWER-a company that has a small share of a fast-
growing market
cash cow - CORRECT ANSWER-a company that has a large share of a slow-
growing market
dog - CORRECT ANSWER-a company that has a small share of a slow-growing
market
grand strategy - CORRECT ANSWER-a broad corporate-level strategic plan used to
achieve strategic goals and guide the strategic alternatives that managers of
individual businesses or sub-units may use in deciding what businesses they should
be in
growth strategy - CORRECT ANSWER-increase profits, revenues, market share, or
the number of place (stores, offices, locations) in which the company does business
five industry forces - CORRECT ANSWER-1. competitive rivalry
2. threat of new entrants
3. threat of substitute products or services
4. bargaining power of suppliers
5. bargaining power of buyers
, design competition - CORRECT ANSWER-old technology and several different new
technologies compete to establish a new technological standard or dominant design
organizational structure - CORRECT ANSWER-the vertical and horizontal
configuration of departments, authority and jobs within a company
organizational process - CORRECT ANSWER-the collection of activities that
transform inputs into outputs that customers value
functional departmentalization - CORRECT ANSWER-organizes work and workers
into separate units responsible for business functions or areas of expertise
product departmentalization - CORRECT ANSWER-organizes work and workers into
separate units responsible for producing products or services
Matrix Departmentalization - CORRECT ANSWER-A hybrid structure in which two or
more forms of departmentalization are used together
Customer Departmentalization - CORRECT ANSWER-organizing work and workers
into separate units responsible for particular kinds of customers
Geographic Departmentalization - CORRECT ANSWER-organizing work and
workers into separate units responsible for doing business in particular geographic
areas
Job Design - CORRECT ANSWER-the number, kinds, and variety of tasks that
individual workers perform in doing their jobs
job enlargement - CORRECT ANSWER-increasing the number of different tasks that
a worker performs within one particular job
job enrichment - CORRECT ANSWER-attempts to overcome the deficiencies in
specialized work by increasing the number of tasks and by giving workers the
authority and control to make meaningful decisions about their work
Intra-organizational process - CORRECT ANSWER-the collection of activities that
take place within an organization to transform inputs into outputs that customers
value
inter-organizational process - CORRECT ANSWER-a collection of activities that
occur among companies to transform inputs into outputs that customers value
virtual organization - CORRECT ANSWER-groups of geographically and/or
organizationally distributed participants who collaborate toward a shared goal using
a combination of information and communications technologies to accomplish a task
cross-traning - CORRECT ANSWER-team members are taught how to do all or most
of the jobs performed by other team members. The advantage for the organization is
that cross-training allows a team to function normally when one member is absent,
quits, or transferred
