MGMT 3180 QuesTions wiTh Answers 100%
CorreCT rATed A+
Maynard Inc., a construction company, planned to set up operations in a foreign country. However, due
to bureaucracy problems and paperwork delays in the local government offices, the company was
unable to begin operations. The company distributed gifts and holiday vouchers to officials present in the
local offices in order to speed up the paperwork. In this scenario, Maynard Inc. is engaged in ✔✔ bribery
Leslie has been hired as an executive to make decisions on behalf of the company and its shareholders.
Leslie is now in a(n) ✔✔ fiduciary relationship with the shareholders.
A business's obligation to pursue policies, decisions, and actions that align with the objectives and values
of society is known as ✔✔ corporate social responsibility.
Which of the following is true of virtue ethics? ✔✔ It claims that morality's primary function is to
develop virtuous character.
Which of the following is a direct benefit derived from CSR? ✔✔ CSR can improve a company's brand
value.
According to Milton Friedman, the primary goal of a business is to ✔✔ make profits.
"Within five years, we will be the top-rated boat tour company in Central Florida, doubling the size of our
fleet and achieving 100% seating capacity with every excursion." This is an example of ✔✔ vision
For a firm's strategy to be effective and defensible, a manager must create fit and alignment among its
chosen activities. ✔✔ True
Foodies, a food manufacturing company, made plans to either open a new outlet in Berylia, a country
where the majority are low-income families, or Erbia, a country where the majority of the people belong
to high-income families. It finally decides to open a new outlet in Berylia by offering products with
reduced cost as the demand for its product is greater in Berylia. This scenario is an example of _____ in
defining a strategy. ✔✔ making trade-offs
, The first step to create competitive advantage through a strategy is to ✔✔ generate better information
than the rivals.
In considering a strategy for a firm, its leaders must decide on how they seek to position the firm within
the marketplace. ✔✔ True
Which of the following questions is most important to the development of a firm's strategy? ✔✔ What is
the purpose of the business?
Identify a benefit provided by an effective mission statement. ✔✔ It defines a firm's reason for existence.
Z-coffiz charges much higher prices for a cup of coffee than its competitors. Z-coffiz is able to do this
because it positions itself to be selling an experience, rather than merely a cup of coffee. Which aspect
of a firm's strategy does this describe? ✔✔ Differentiation
According to military leaders, tactics differed from strategy in that ✔✔ tactics represented the specific
moves their armies would perform on the battlefield.
Corporate-level strategy entails "how a company will compete in a given business and position itself
among its competitors." ✔✔ False
Objectives provide a series of quantifiable milestones or benchmarks by which a firm can assess its
progress. ✔✔ True
Scott determines that his firm's strategy leverages its key resources. Which of the following criteria for
evaluating the quality of a firm's strategy is Scott assessing? ✔✔ Internal fit
According to Tzu, the process of gathering information was an integral component of developing
strategy. ✔✔ True
CorreCT rATed A+
Maynard Inc., a construction company, planned to set up operations in a foreign country. However, due
to bureaucracy problems and paperwork delays in the local government offices, the company was
unable to begin operations. The company distributed gifts and holiday vouchers to officials present in the
local offices in order to speed up the paperwork. In this scenario, Maynard Inc. is engaged in ✔✔ bribery
Leslie has been hired as an executive to make decisions on behalf of the company and its shareholders.
Leslie is now in a(n) ✔✔ fiduciary relationship with the shareholders.
A business's obligation to pursue policies, decisions, and actions that align with the objectives and values
of society is known as ✔✔ corporate social responsibility.
Which of the following is true of virtue ethics? ✔✔ It claims that morality's primary function is to
develop virtuous character.
Which of the following is a direct benefit derived from CSR? ✔✔ CSR can improve a company's brand
value.
According to Milton Friedman, the primary goal of a business is to ✔✔ make profits.
"Within five years, we will be the top-rated boat tour company in Central Florida, doubling the size of our
fleet and achieving 100% seating capacity with every excursion." This is an example of ✔✔ vision
For a firm's strategy to be effective and defensible, a manager must create fit and alignment among its
chosen activities. ✔✔ True
Foodies, a food manufacturing company, made plans to either open a new outlet in Berylia, a country
where the majority are low-income families, or Erbia, a country where the majority of the people belong
to high-income families. It finally decides to open a new outlet in Berylia by offering products with
reduced cost as the demand for its product is greater in Berylia. This scenario is an example of _____ in
defining a strategy. ✔✔ making trade-offs
, The first step to create competitive advantage through a strategy is to ✔✔ generate better information
than the rivals.
In considering a strategy for a firm, its leaders must decide on how they seek to position the firm within
the marketplace. ✔✔ True
Which of the following questions is most important to the development of a firm's strategy? ✔✔ What is
the purpose of the business?
Identify a benefit provided by an effective mission statement. ✔✔ It defines a firm's reason for existence.
Z-coffiz charges much higher prices for a cup of coffee than its competitors. Z-coffiz is able to do this
because it positions itself to be selling an experience, rather than merely a cup of coffee. Which aspect
of a firm's strategy does this describe? ✔✔ Differentiation
According to military leaders, tactics differed from strategy in that ✔✔ tactics represented the specific
moves their armies would perform on the battlefield.
Corporate-level strategy entails "how a company will compete in a given business and position itself
among its competitors." ✔✔ False
Objectives provide a series of quantifiable milestones or benchmarks by which a firm can assess its
progress. ✔✔ True
Scott determines that his firm's strategy leverages its key resources. Which of the following criteria for
evaluating the quality of a firm's strategy is Scott assessing? ✔✔ Internal fit
According to Tzu, the process of gathering information was an integral component of developing
strategy. ✔✔ True
