MGMT 3180 Final ExaM, 100% VEriFiEd raTEd
a+
countries should specialize in producing goods for which they have the lowest opportunity cost of
production ✔✔ comparative advantage
The general environment ✔✔ Technological, economic, political, legal, sociocultural
Internal environment ✔✔ Owners, board of directors, employees, culture
a business' obligation to pursue policies, decisions, and actions that align w/ the objectives and values of
society. ✔✔ corporate social responsibility
CSR activities that are directly related to their business activities so that they can combine social welfare
w/ financial welfare ✔✔ Strategic CSR
The only goal of a business is to focus exclusively on making profits so that it creates the most value for
its shareholders ✔✔ Milton Friedman
the determination of how a company will compete in a given business and position itself among
competitors ✔✔ business level strategy
the way a company seeks to create value through the configuration and coordination of multi-market
activities ✔✔ corporate level strategy
framework originally developed to asses an industries long run profit potential ✔✔ Michael porters 5
forces model
a strategy that aims to provide a product/service at as low a price as possible to a broad audience. ✔✔
cost leadership
, a strategy in which a firm seeks to be unique in its industry along a dimensions that are valued by
customers ✔✔ differentiation
a strategy in which a company "focuses" its sales efforts on a specific geographical region, a specific
group of purchasers, or a specific product type ✔✔ focus
engaging in numerous strategies w/out mastering any one particular strategy to achieve sustained
competitive advantage ✔✔ stuck in the middle
organizes a firm in terms of the main activities that need to be performed ✔✔ functional structure
groups diverse functions into separate divisions ✔✔ divisional structure
both divisional and functional managers have equal authority ✔✔ matrix structure
informal relations between clusters of workers and cross functional teams ✔✔ network form
informal structures contribute in defining an organization, develop over a period of time, ✔✔ informal
structures
a pattern of shared basic assumptions that was learned by a group as it solved its problems ✔✔ culture
how does culture affect performance ? ✔✔ can lead to better levels of performance, higher financial
metrics, and distinctive competitive advantage.
The ethical philosophy claiming that behaviors are considered moral if they produce the greatest good,
or utility, for the greatest number of people ✔✔ utilitarianism
ethical philosophy claiming that motives & universal rules are important aspects in judging what is right
or wrong ✔✔ kantism
a+
countries should specialize in producing goods for which they have the lowest opportunity cost of
production ✔✔ comparative advantage
The general environment ✔✔ Technological, economic, political, legal, sociocultural
Internal environment ✔✔ Owners, board of directors, employees, culture
a business' obligation to pursue policies, decisions, and actions that align w/ the objectives and values of
society. ✔✔ corporate social responsibility
CSR activities that are directly related to their business activities so that they can combine social welfare
w/ financial welfare ✔✔ Strategic CSR
The only goal of a business is to focus exclusively on making profits so that it creates the most value for
its shareholders ✔✔ Milton Friedman
the determination of how a company will compete in a given business and position itself among
competitors ✔✔ business level strategy
the way a company seeks to create value through the configuration and coordination of multi-market
activities ✔✔ corporate level strategy
framework originally developed to asses an industries long run profit potential ✔✔ Michael porters 5
forces model
a strategy that aims to provide a product/service at as low a price as possible to a broad audience. ✔✔
cost leadership
, a strategy in which a firm seeks to be unique in its industry along a dimensions that are valued by
customers ✔✔ differentiation
a strategy in which a company "focuses" its sales efforts on a specific geographical region, a specific
group of purchasers, or a specific product type ✔✔ focus
engaging in numerous strategies w/out mastering any one particular strategy to achieve sustained
competitive advantage ✔✔ stuck in the middle
organizes a firm in terms of the main activities that need to be performed ✔✔ functional structure
groups diverse functions into separate divisions ✔✔ divisional structure
both divisional and functional managers have equal authority ✔✔ matrix structure
informal relations between clusters of workers and cross functional teams ✔✔ network form
informal structures contribute in defining an organization, develop over a period of time, ✔✔ informal
structures
a pattern of shared basic assumptions that was learned by a group as it solved its problems ✔✔ culture
how does culture affect performance ? ✔✔ can lead to better levels of performance, higher financial
metrics, and distinctive competitive advantage.
The ethical philosophy claiming that behaviors are considered moral if they produce the greatest good,
or utility, for the greatest number of people ✔✔ utilitarianism
ethical philosophy claiming that motives & universal rules are important aspects in judging what is right
or wrong ✔✔ kantism
