MGMT 485W PRACTICE TEST EXAM 1 QUESTIONS
What best describes a sustained competitive advantage? - Answer -Continued superior
performance
Business strategies aim to create ''unique value''. What is NOT a reason why
distinctiveness is so important? - Answer -Unique value is critical for tax deductions
Norfolk-based healthcare organization Sentara describes part of its strategy as ''We
care about people, quality, patient safety, service, and integrity''. This is an example of: -
Answer -A statement of values
Lorie Tekorius is a senior manager at the Greenbrier Companies, a company active in
multiple industries (railcar manufacturing, railcar maintenance, and railcar leasing) in
different parts of the world (North America, Europe, South America). It is her task to
decide whether the company should grow railcar operations or divest railcar leasing,
and whether the corporation should expand into Asia or leave the European market.
She is in charge of what level of strategy? - Answer -Corporate strategy
''In 2016, Cisco set a ten-year goal to positively impact one billion lives through our
social impact grants'' (cisco.com) Why is this NOT a smart strategic goal? - Answer -It
is not specific in what it aims to achieve
In which stage does a firm initiate the activities to turn a new strategic plan into reality? -
Answer -In the implementation phase
''The hits keep coming in the US pay-tv industry. The US pay-TV industry lost about
900,000 subscribers in Q3 2023, a worst-ever result for a third quarter. That poor result
left the total pay-TV industry shrinking at a record pace of -7.3%, widened from a year-
ago decline of -5.9%. Meanwhile, internet-based virtual multichannel video
programming distributors like YouTube added 1.08 million in Q3, down from a year-ago
gain of about 1.34 million.'' (LightReading, 2024) This is an example of which
environmental factor determining industry growth and decline? - Answer -Technological
The American electric vehicle manufacturing industry is growing rapidly. One factor
driving the growth is a very generous tax exemption offered by the federal government
for US-manufactured electric vehicles, which makes the after-tax net price appealing to
a lot of customers. This is an example of which environmental factor determining
industry growth and decline? - Answer -Political
Jacinta is a procurement officer for a large navy contractor. When the company wins a
tender, she is responsible for administering the purchasing process: systematically
reviewing suppliers, requesting quotes, making decisions, and preparing for the delivery
of supplies. After that, she hands over control of the supplies to the manufacturing
division who uses the supplies to build new or update existing navy ships. These
What best describes a sustained competitive advantage? - Answer -Continued superior
performance
Business strategies aim to create ''unique value''. What is NOT a reason why
distinctiveness is so important? - Answer -Unique value is critical for tax deductions
Norfolk-based healthcare organization Sentara describes part of its strategy as ''We
care about people, quality, patient safety, service, and integrity''. This is an example of: -
Answer -A statement of values
Lorie Tekorius is a senior manager at the Greenbrier Companies, a company active in
multiple industries (railcar manufacturing, railcar maintenance, and railcar leasing) in
different parts of the world (North America, Europe, South America). It is her task to
decide whether the company should grow railcar operations or divest railcar leasing,
and whether the corporation should expand into Asia or leave the European market.
She is in charge of what level of strategy? - Answer -Corporate strategy
''In 2016, Cisco set a ten-year goal to positively impact one billion lives through our
social impact grants'' (cisco.com) Why is this NOT a smart strategic goal? - Answer -It
is not specific in what it aims to achieve
In which stage does a firm initiate the activities to turn a new strategic plan into reality? -
Answer -In the implementation phase
''The hits keep coming in the US pay-tv industry. The US pay-TV industry lost about
900,000 subscribers in Q3 2023, a worst-ever result for a third quarter. That poor result
left the total pay-TV industry shrinking at a record pace of -7.3%, widened from a year-
ago decline of -5.9%. Meanwhile, internet-based virtual multichannel video
programming distributors like YouTube added 1.08 million in Q3, down from a year-ago
gain of about 1.34 million.'' (LightReading, 2024) This is an example of which
environmental factor determining industry growth and decline? - Answer -Technological
The American electric vehicle manufacturing industry is growing rapidly. One factor
driving the growth is a very generous tax exemption offered by the federal government
for US-manufactured electric vehicles, which makes the after-tax net price appealing to
a lot of customers. This is an example of which environmental factor determining
industry growth and decline? - Answer -Political
Jacinta is a procurement officer for a large navy contractor. When the company wins a
tender, she is responsible for administering the purchasing process: systematically
reviewing suppliers, requesting quotes, making decisions, and preparing for the delivery
of supplies. After that, she hands over control of the supplies to the manufacturing
division who uses the supplies to build new or update existing navy ships. These
