G202 Exam 1 Actual Exam Questions With Reviewed 100% Correct Detailed Answers Guaranteed Pass!!

G202 Exam 1 Actual Exam Questions With Reviewed 100% Correct Detailed Answers Guaranteed Pass!! Corporate Social Strategy: Market focus on outcomes - Answers - profits, sales, market share Corporate Social Strategy: Non-market focus on process - Answers - overnight, quality assurance, social welfare -important to integrate into market strategy-processes gain in relative importance (oversight, quality assurance, social welfare) -ex. evaluate current and proposed government regulations, or monitor NGO activity and changing social demands -competition in the marketplace tends to school managers to think in terms of outcomes P.E.S.T. Framework and Integrated Strategy: BP made two strategic acquisitions: ARCO (oil and gas) and SOLAREX (solar energy) - Answers - -solarex: made BP solar the largest solar energy company in the world -BP launched "Beyond Petroleum" campaign and began re-branding the Helios logo P.E.S.T. Framework and Integrated Strategy: BP's motivation - Answers - -risk with activists -perception/corporation reputation -socially responsible investors -renewable portfolio regulation -"future" P.E.S.T. Framework and Integrated Strategy: BP Profit Drivers - Answers - -first mover advantage into new growing market -enhance brand equity and corporate reputation -differentiate from new competitors and expand franchises -tap into new customer segments (price still important) -employee retention/recruiting concerns -attract green/socially-responsible investors -manage regulatory risks -preemt, stall, or shape future regulation -take advantage of government subsidies -manage growing social risks -greenwashing-selectively revealing what you're doing, hiding info P.E.S.T. Framework and Integrated Strategy: BP Risks - Answers - heightened public expectations, especially from NGOs Market Efficiency and Social Regulators: Definition of Social Efficiency (Qe) - Answers - -produce and sell product that consumers value more than the costs of production -avoid producing and selling product that consumers value less than the costs of production -socially efficiency needs to be achieved: won't necessarily have the same outcome as profit driven efficiency -when benefits outweigh the costs of consumers -occurs at the market equilibrium if all costs and values are accounted for in the D&S curve -usually not what is best for the firm Market Efficiency and Social Regulators: Demand(Consumer Value): based on the value to consumers - Answers - -consumer surplus: difference between the price sellers receive and the minimum supply price needed to cover costs -if market price>costs=make profit Inefficiency below Qe - Answers - giving up producing some units that are valued more than their productive costs -restricting supply (scarcity): maximizes profits Inefficiency beyond Qe - Answers - you are producing in the range where units are valued less than their productive costs -cost is more than value The effect of taxes - Answers - cause an inward shift of the supply curve (decreased supply) The effect of taxes: Effects on Price, Output, CS, and PS - Answers - -increase price to buyers, decrease CS -decrease price to buyers, increase CS -increase price for sellers, increase PS -decrease price for sellers, decrease PS The effect of taxes: Efficiency implications - Answers - taxes are efficiency enhancing that are overproducing relative to Qe -sellers have a tax on each unit but they can't put all of the tax on the consumer -shrinks market -reduced quantity bought and sold The effects of subsidies - Answers - cause an outward shift of the supply curve (increase supply) -given to sellers to effectively lower the costs of production The effect of subsidies: effects on price, output, CS, and PS - Answers - -Decrease price to buyers, increase CS -Increase price to buyers, decrease CS -Decrease price to sellers, increase PS -Increase price to sellers, decrease PS