MGMT 3000 Exam question and
answers grade 100%
Which pillar of managing organizations encompasses the following question: "How does the
competitive landscape shape the potential for success or failure?" - ANS✅✅Strategic positioning
The systematic assessment of the external environment to prepare for a possible range of
alternative futures for the organization - ANS✅✅contingency planning
A business framework that identifies and analyzes multiple groups that interact with the firm and
attempts to align organizational practices to satisfy the needs of these various constituencies -
ANS✅✅stakeholder view
A tool that managers use to scan the business horizon for key events and trends that will affect the
business in the future - ANS✅✅environmental scanning
the ability to understand the impact of environmental factors on a firm and the ability to understand
how to influence those same factors - ANS✅✅contextual intelligence (the "goal")
The firm context consisting of competitors, suppliers and customers - ANS✅✅task environment
Firm context that consists of technological, economic, political/legal, and sociocultural dimensions -
ANS✅✅general environment
the pattern of basic assumptions about the way in which an organization and individuals in it should
work and interact with each other - ANS✅✅culture (as an elemnt of the internal environment of
the fir)
applying a SWOT analysis, declining customer demand for landfill waste disposal, increasing
customer expectation of greater waste recycling and less landfill waste disposal, and pressure from
environmental groups for environmentally-sensitive waste disposal each represented a _________
in WMI's ________ environment - ANS✅✅threats in WMI's external environment
the principle underlying the idea of globalization that countries should specialize in producing goods
for which they have the lowest opportunity cost of production - ANS✅✅comparative advantage
, While many claim that this provides the moral backbone to businesses, in reality, it often simply
reflect society's minimum standards - ANS✅✅the law
while common in some countries as a way to gain an illicit advantage, the Foreign Corrupt Practices
Act ("FCPA") generally makes this practice illegal for a U.S. company or a company listed on a U.S.
stock exchange. - ANS✅✅bribery (offering something of value to a government official gain an
illicit business advantage)
**The ethical philosophy claiming that behaviors are considered moral if they produce the greatest
good, or utility, for the greatest number of people - ANS✅✅utilitarianism (cost benefit)
an ethical philosophy claiming that motives and universal rules are important aspects in judging
what is right or wrong - ANS✅✅kantianism (could you run society if everyone were doing it)
The idea that Airbnb has an obligation or responsibility to pursue policies, decisions, and actions that
do not foster discrimination, in alignment with prevailing societal standards - ANS✅✅corporate
social responsibility
Pursuing a set of unique activities that provide value to customers; making trade-offs about which
businesses to pursue, what products to produce, and which customers to serve; and aligning
resources to achieve organizational objectives - ANS✅✅strategy
a firm achieves it when it creates more economic value than competitors by engaging in a strategy
that is difficult or impossible for others to duplicate - ANS✅✅competitive advantage
apple has exhibited a sustained ability to design, manufacture and market products that seamlessly
integrate hardware and software, and which offer a superior user experience compared to
competing products. Under the resource view of sustainable competitive advantage, the inability of
competitors to copy or come up with a different product to effectively compete with Apple's
products, suggests that apple has resources that are ___________ and _________ -
ANS✅✅imperfectly immitable; non-substitutable
under the strategic framework, after assessing the external and internal environments, it is the next
step in the strategy-making process - ANS✅✅formulating vision and mission
answers grade 100%
Which pillar of managing organizations encompasses the following question: "How does the
competitive landscape shape the potential for success or failure?" - ANS✅✅Strategic positioning
The systematic assessment of the external environment to prepare for a possible range of
alternative futures for the organization - ANS✅✅contingency planning
A business framework that identifies and analyzes multiple groups that interact with the firm and
attempts to align organizational practices to satisfy the needs of these various constituencies -
ANS✅✅stakeholder view
A tool that managers use to scan the business horizon for key events and trends that will affect the
business in the future - ANS✅✅environmental scanning
the ability to understand the impact of environmental factors on a firm and the ability to understand
how to influence those same factors - ANS✅✅contextual intelligence (the "goal")
The firm context consisting of competitors, suppliers and customers - ANS✅✅task environment
Firm context that consists of technological, economic, political/legal, and sociocultural dimensions -
ANS✅✅general environment
the pattern of basic assumptions about the way in which an organization and individuals in it should
work and interact with each other - ANS✅✅culture (as an elemnt of the internal environment of
the fir)
applying a SWOT analysis, declining customer demand for landfill waste disposal, increasing
customer expectation of greater waste recycling and less landfill waste disposal, and pressure from
environmental groups for environmentally-sensitive waste disposal each represented a _________
in WMI's ________ environment - ANS✅✅threats in WMI's external environment
the principle underlying the idea of globalization that countries should specialize in producing goods
for which they have the lowest opportunity cost of production - ANS✅✅comparative advantage
, While many claim that this provides the moral backbone to businesses, in reality, it often simply
reflect society's minimum standards - ANS✅✅the law
while common in some countries as a way to gain an illicit advantage, the Foreign Corrupt Practices
Act ("FCPA") generally makes this practice illegal for a U.S. company or a company listed on a U.S.
stock exchange. - ANS✅✅bribery (offering something of value to a government official gain an
illicit business advantage)
**The ethical philosophy claiming that behaviors are considered moral if they produce the greatest
good, or utility, for the greatest number of people - ANS✅✅utilitarianism (cost benefit)
an ethical philosophy claiming that motives and universal rules are important aspects in judging
what is right or wrong - ANS✅✅kantianism (could you run society if everyone were doing it)
The idea that Airbnb has an obligation or responsibility to pursue policies, decisions, and actions that
do not foster discrimination, in alignment with prevailing societal standards - ANS✅✅corporate
social responsibility
Pursuing a set of unique activities that provide value to customers; making trade-offs about which
businesses to pursue, what products to produce, and which customers to serve; and aligning
resources to achieve organizational objectives - ANS✅✅strategy
a firm achieves it when it creates more economic value than competitors by engaging in a strategy
that is difficult or impossible for others to duplicate - ANS✅✅competitive advantage
apple has exhibited a sustained ability to design, manufacture and market products that seamlessly
integrate hardware and software, and which offer a superior user experience compared to
competing products. Under the resource view of sustainable competitive advantage, the inability of
competitors to copy or come up with a different product to effectively compete with Apple's
products, suggests that apple has resources that are ___________ and _________ -
ANS✅✅imperfectly immitable; non-substitutable
under the strategic framework, after assessing the external and internal environments, it is the next
step in the strategy-making process - ANS✅✅formulating vision and mission
