B&E 327 Exam QUESTIONS AND ANSWERS
Primary - Answers- employees, customers, shareholders
Secondary - Answers- suppliers, governments, media, activists
Tertiary - Answers- community groups, people far removed
Salience - Answers- basically, how relevant your threat is to a firm
the quality of being particularly noticeable or important; prominence.
Salience: legitimate - Answers- you can do something
Salience: power - Answers- that something is bad
Salience: urgency - Answers- that something is coming fast
Theory of Competitive Rationality - Answers- model
Oversupply - Answers- a. There is an oversupply of employees or product in any given
market
b. Equilibrium is a fluke, rarely happens and not on purpose
Market Orientation - Answers- model (profit is the goal of all three)
- definitive relationship between profit and market orientation
Market Orientation examples - Answers- - In this business unit, we meet with
customers at least one a year to find out what products or services they will need in the
future.
- A lot of informal "hall talk" in this business unit concerns our competitors' tactics or
strategies.
- Principles of market segmentation drive new product development in this business
unit.
Market Sensing - Answers- meeting with customers, getting a feel for the market to
determine what people want/will want in the future
Sharing - Answers- spread of information between firms to get a feel for what other
people are doing, successful or otherwise
Implementation - Answers- New product or service development in the market
Shannon-Weaver Communication Model - Answers- model
- Sender
- Encoding
, - Media - noise
- Decoding
- Receiver
Communication processing - Answers- driven by:
Motivation
Ability
Central route - Answers- consists of thoughtful consideration of the arguments (ideas,
content) of the message
- When a receiver is doing central processing, he or she is being an active participant in
the process of persuasion. Central processing has two prerequisites: It can only occur
when the receiver has both the motivation and the ability to think about the message
and its topic.
Peripheral route - Answers- occurs when the listener decides whether to agree with the
message based on other cues besides the strength of the arguments or ideas in the
message
- For example, a listener may decide to agree with a message because the source
appears to be an expert, or is attractive. The peripheral route also occurs when a
listener is persuaded because he or she notices that a message has many arguments --
but lacks the ability or motivation to think about them individually.
Choice - Answers- a. Choice of employment, choice of employees, stakeholder action
b. Everybody does something
- scare resource
- builds choice, everybody has it so pick best choice
Learning - Answers- a. Learn what employees/customers want
- becomes segment
- learn about segmentation
Innovation - Answers- a. New ways to attract quality employees/new customers
- innovate so we pick them
- all about attraction
Imitation - Answers- a. Other firms copy you, goes back to oversupply
- competition
- use something to attract, then everybody uses it
Carroll framework - Answers- - model
- Like Maslow's Hierarchy of needs but for business
- Economic first, you must make money in order to still operate
- Then legal, if you break the law you can be shut down
- Then ethical, if you have the previous categories you can start making "good" choices
- Then discretionary, you can begin exhibiting social responsibility
Primary - Answers- employees, customers, shareholders
Secondary - Answers- suppliers, governments, media, activists
Tertiary - Answers- community groups, people far removed
Salience - Answers- basically, how relevant your threat is to a firm
the quality of being particularly noticeable or important; prominence.
Salience: legitimate - Answers- you can do something
Salience: power - Answers- that something is bad
Salience: urgency - Answers- that something is coming fast
Theory of Competitive Rationality - Answers- model
Oversupply - Answers- a. There is an oversupply of employees or product in any given
market
b. Equilibrium is a fluke, rarely happens and not on purpose
Market Orientation - Answers- model (profit is the goal of all three)
- definitive relationship between profit and market orientation
Market Orientation examples - Answers- - In this business unit, we meet with
customers at least one a year to find out what products or services they will need in the
future.
- A lot of informal "hall talk" in this business unit concerns our competitors' tactics or
strategies.
- Principles of market segmentation drive new product development in this business
unit.
Market Sensing - Answers- meeting with customers, getting a feel for the market to
determine what people want/will want in the future
Sharing - Answers- spread of information between firms to get a feel for what other
people are doing, successful or otherwise
Implementation - Answers- New product or service development in the market
Shannon-Weaver Communication Model - Answers- model
- Sender
- Encoding
, - Media - noise
- Decoding
- Receiver
Communication processing - Answers- driven by:
Motivation
Ability
Central route - Answers- consists of thoughtful consideration of the arguments (ideas,
content) of the message
- When a receiver is doing central processing, he or she is being an active participant in
the process of persuasion. Central processing has two prerequisites: It can only occur
when the receiver has both the motivation and the ability to think about the message
and its topic.
Peripheral route - Answers- occurs when the listener decides whether to agree with the
message based on other cues besides the strength of the arguments or ideas in the
message
- For example, a listener may decide to agree with a message because the source
appears to be an expert, or is attractive. The peripheral route also occurs when a
listener is persuaded because he or she notices that a message has many arguments --
but lacks the ability or motivation to think about them individually.
Choice - Answers- a. Choice of employment, choice of employees, stakeholder action
b. Everybody does something
- scare resource
- builds choice, everybody has it so pick best choice
Learning - Answers- a. Learn what employees/customers want
- becomes segment
- learn about segmentation
Innovation - Answers- a. New ways to attract quality employees/new customers
- innovate so we pick them
- all about attraction
Imitation - Answers- a. Other firms copy you, goes back to oversupply
- competition
- use something to attract, then everybody uses it
Carroll framework - Answers- - model
- Like Maslow's Hierarchy of needs but for business
- Economic first, you must make money in order to still operate
- Then legal, if you break the law you can be shut down
- Then ethical, if you have the previous categories you can start making "good" choices
- Then discretionary, you can begin exhibiting social responsibility
