WPC 470 FINAL EXAM 2 QUESTIONS & ANSWERS
A ______ is an integrated and coordinated set of commitments and actions designed to
exploit core competencies and gain a competitive advantage. - Answer -strategy
New markets created by the technologies underlying the development of products such
as iPods, iPads, and Wi-Fi are a result of: - Answer -disruptive technologies.
Demographic changes include variations in income distribution. Which of the following
statements is true? - Answer -The general loss in real income has been somewhat
offset by the increase in dual-career couples.
Which of the following is NOT an activity used in the external environmental analysis
process? - Answer -Decrypting
When analysts develop feasible projections of future events and how quickly they will
occur based on observed changes and trends, they are engaged in: - Answer -
forecasting.
In a suburban community outside a city in Alabama, a retail store opened that
specialized in dancewear for children and adults. It was moderately successful for five
years until the local newspaper published an exposé that scanty lingerie stocked in the
back of the store's showroom was selling briskly to a certain clientele. Afterward, the
store lost most of its customers and nearly closed. Which of the following segments of
the environment did the store owners fail to take into account when they began selling
the lingerie? - Answer -Sociocultural
The recent joint ventures formed by BP with Russian and Indian partners show the
importance of the __________ segment of the general environment in those countries
that BP and other oil firms must manage when contending with scarce resources. -
Answer -global
A marketing manager at GTA Technology wants the next generation of a particular
application to include certain features. The product manager of that app insists that the
feature would be costly to implement and could not be achieved by the desired release
date unless additional resources, both financial and human, were directed to the app.
The marketing manager insists that this is necessary, while the product manager feels
that the inclusion of these features would not validate the extra investment. It is now up
to the project manager to decide how to proceed. Which of the following conditions is
most affecting the project manager's decision? - Answer -Intraorganizational conflict
Several months ago, a restaurant developed a new appetizer that is a hit with
customers. Many customers go to the restaurant just for the appetizer, and it was at the
center of a recent highly positive review by a food critic. Preparation involves common
ingredients and average culinary skills but requires a very high oven temperature, which
, significantly increases utility costs. Several competing restaurants have since added
their own version of the appetizer to their menu. Which of the following criterion for
assessing capabilities/core competencies is met? - Answer -The restaurant has the
capability to develop something that is valuable.
An investor is considering buying a restaurant that has been in operation for a number
of years. The restaurant has a highly regarded chef and many long-term kitchen and
wait staff who work together smoothly. It has a reputation for dishes of consistently high
quality and an appealing dining atmosphere. Which of the following should the investor
consider when making a decision? - Answer -The investor may find that the
restaurant's financial statements undervalue the true value of its resource
Product market stakeholders include the firm's customers, and the principal concern of
this stakeholder group is: - Answer -obtaining reliable products at the lowest possible
prices.
Firms use the five forces model of competition to identify the __________ of an
industry, as measured by its __________. - Answer -attractiveness; profitability
potential
PGG Mining is making a strategic decision whether to shut down a coal mine in
Pennsylvania. It is important to consider that the decision: - Answer -has ethical
implications for organizational stakeholders.
Sandy, a line manager on the production floor at Oakway Industries, is an entry-level
manager. Sandy has a strong commitment to the Oakway's vision and mission. She has
good relationships with workers on her line as well as with employees throughout
Oakway. Sandy is able to make decisions on the fly to keep the line moving, and other
line managers often ask for her help in troubleshooting different situations. Which of the
following best characterizes Sandy? - Answer -Sandy is a strategic leader.
Competitor analysis focuses on: - Answer -firms with which the company competes
directly.
Compared to intangible resources, in terms of their value, tangible resources are
__________ constrained because they are __________ to leverage. - Answer -more;
harder
Which of the following is NOT a component of internal analysis leading to competitive
advantage? - Answer -Analysis of supplier power
A food bank in Florida was struggling to serve its customers. It asked Walmart for help.
Walmart sent a team of managers who reorganized storage and transportation. The
food bank was able to increase the number of clients served by tenfold. Walmart shared
its expertise in: - Answer -distribution.
A ______ is an integrated and coordinated set of commitments and actions designed to
exploit core competencies and gain a competitive advantage. - Answer -strategy
New markets created by the technologies underlying the development of products such
as iPods, iPads, and Wi-Fi are a result of: - Answer -disruptive technologies.
Demographic changes include variations in income distribution. Which of the following
statements is true? - Answer -The general loss in real income has been somewhat
offset by the increase in dual-career couples.
Which of the following is NOT an activity used in the external environmental analysis
process? - Answer -Decrypting
When analysts develop feasible projections of future events and how quickly they will
occur based on observed changes and trends, they are engaged in: - Answer -
forecasting.
In a suburban community outside a city in Alabama, a retail store opened that
specialized in dancewear for children and adults. It was moderately successful for five
years until the local newspaper published an exposé that scanty lingerie stocked in the
back of the store's showroom was selling briskly to a certain clientele. Afterward, the
store lost most of its customers and nearly closed. Which of the following segments of
the environment did the store owners fail to take into account when they began selling
the lingerie? - Answer -Sociocultural
The recent joint ventures formed by BP with Russian and Indian partners show the
importance of the __________ segment of the general environment in those countries
that BP and other oil firms must manage when contending with scarce resources. -
Answer -global
A marketing manager at GTA Technology wants the next generation of a particular
application to include certain features. The product manager of that app insists that the
feature would be costly to implement and could not be achieved by the desired release
date unless additional resources, both financial and human, were directed to the app.
The marketing manager insists that this is necessary, while the product manager feels
that the inclusion of these features would not validate the extra investment. It is now up
to the project manager to decide how to proceed. Which of the following conditions is
most affecting the project manager's decision? - Answer -Intraorganizational conflict
Several months ago, a restaurant developed a new appetizer that is a hit with
customers. Many customers go to the restaurant just for the appetizer, and it was at the
center of a recent highly positive review by a food critic. Preparation involves common
ingredients and average culinary skills but requires a very high oven temperature, which
, significantly increases utility costs. Several competing restaurants have since added
their own version of the appetizer to their menu. Which of the following criterion for
assessing capabilities/core competencies is met? - Answer -The restaurant has the
capability to develop something that is valuable.
An investor is considering buying a restaurant that has been in operation for a number
of years. The restaurant has a highly regarded chef and many long-term kitchen and
wait staff who work together smoothly. It has a reputation for dishes of consistently high
quality and an appealing dining atmosphere. Which of the following should the investor
consider when making a decision? - Answer -The investor may find that the
restaurant's financial statements undervalue the true value of its resource
Product market stakeholders include the firm's customers, and the principal concern of
this stakeholder group is: - Answer -obtaining reliable products at the lowest possible
prices.
Firms use the five forces model of competition to identify the __________ of an
industry, as measured by its __________. - Answer -attractiveness; profitability
potential
PGG Mining is making a strategic decision whether to shut down a coal mine in
Pennsylvania. It is important to consider that the decision: - Answer -has ethical
implications for organizational stakeholders.
Sandy, a line manager on the production floor at Oakway Industries, is an entry-level
manager. Sandy has a strong commitment to the Oakway's vision and mission. She has
good relationships with workers on her line as well as with employees throughout
Oakway. Sandy is able to make decisions on the fly to keep the line moving, and other
line managers often ask for her help in troubleshooting different situations. Which of the
following best characterizes Sandy? - Answer -Sandy is a strategic leader.
Competitor analysis focuses on: - Answer -firms with which the company competes
directly.
Compared to intangible resources, in terms of their value, tangible resources are
__________ constrained because they are __________ to leverage. - Answer -more;
harder
Which of the following is NOT a component of internal analysis leading to competitive
advantage? - Answer -Analysis of supplier power
A food bank in Florida was struggling to serve its customers. It asked Walmart for help.
Walmart sent a team of managers who reorganized storage and transportation. The
food bank was able to increase the number of clients served by tenfold. Walmart shared
its expertise in: - Answer -distribution.
