COB 300 MANAGEMENT EXAM 2
(PARGAS) QUESTIONS & ACTUAL
DETAILED ANSWERS
External Environments: - correct answer ✔✔All events outside a company that have the
potential to influence or affect it
Environmental Change - correct answer ✔✔Rate at which a company's general and specific
environment change
Stable Environment: - correct answer ✔✔Slow change
Dynamic Environment - correct answer ✔✔Fast change
Punctuated Equilibrium Theory: - correct answer ✔✔Companies go through long periods of
stability, followed by short periods of dynamic, fundamental change, and then a new
equilibrium.
Environmental Complexity: - correct answer ✔✔- Number and intensity of external factors that
affect organizations
- Simple Environment Includes few factors
- Complex Environment: Includes many factors
Resource Scarcity: - correct answer ✔✔Abundance or shortage of critical organizational
resources in an external environment
, Uncertainty: - correct answer ✔✔The extent to which managers can predict which external
changes and trends will affect their businesses
Components of the Specific Environment: - correct answer ✔✔Customers
Competitors
Suppliers
Industry Regulation
Advocacy Group
Organizational Culture: - correct answer ✔✔- A system of shared beliefs and values that
develops within an organization and guides the behavior of its members (Corporate Culture)
- "The way we do things around here"
- Important for employee morale, happiness, retention, and productivity
Three Levels of Organizational Culture - correct answer ✔✔Surface level (Seen)
Expresses values and beliefs (Heard)
Unconscious assumptions and beliefs (Believed)
Organizational Vision - correct answer ✔✔- Desired future state of the organization
- Helps define long-term future of the organization
Organizational Mission - correct answer ✔✔- The reason for the organization's existence; a
statement of purpose
- Clearly identifies what the organization seeks to achieve over the long-term
Decision Making: - correct answer ✔✔Selecting choices among alternative courses of action,
which may also include inaction
(PARGAS) QUESTIONS & ACTUAL
DETAILED ANSWERS
External Environments: - correct answer ✔✔All events outside a company that have the
potential to influence or affect it
Environmental Change - correct answer ✔✔Rate at which a company's general and specific
environment change
Stable Environment: - correct answer ✔✔Slow change
Dynamic Environment - correct answer ✔✔Fast change
Punctuated Equilibrium Theory: - correct answer ✔✔Companies go through long periods of
stability, followed by short periods of dynamic, fundamental change, and then a new
equilibrium.
Environmental Complexity: - correct answer ✔✔- Number and intensity of external factors that
affect organizations
- Simple Environment Includes few factors
- Complex Environment: Includes many factors
Resource Scarcity: - correct answer ✔✔Abundance or shortage of critical organizational
resources in an external environment
, Uncertainty: - correct answer ✔✔The extent to which managers can predict which external
changes and trends will affect their businesses
Components of the Specific Environment: - correct answer ✔✔Customers
Competitors
Suppliers
Industry Regulation
Advocacy Group
Organizational Culture: - correct answer ✔✔- A system of shared beliefs and values that
develops within an organization and guides the behavior of its members (Corporate Culture)
- "The way we do things around here"
- Important for employee morale, happiness, retention, and productivity
Three Levels of Organizational Culture - correct answer ✔✔Surface level (Seen)
Expresses values and beliefs (Heard)
Unconscious assumptions and beliefs (Believed)
Organizational Vision - correct answer ✔✔- Desired future state of the organization
- Helps define long-term future of the organization
Organizational Mission - correct answer ✔✔- The reason for the organization's existence; a
statement of purpose
- Clearly identifies what the organization seeks to achieve over the long-term
Decision Making: - correct answer ✔✔Selecting choices among alternative courses of action,
which may also include inaction
