MGMT 478 EXAM 1QUESTIONS & ANSWERS
Based on the Philadelphia beverage tax video and our subsequent discussion,
__________ factors are the primary reason why we are witnessing an increase in
beverage taxes across different cities. - Answer -Sociocultural
Business-level strategies are primarily concerned with__________: - Answer -How
firms should compete
The Boycott, Divestment, and Sanctions (BDS) Movement represents a __________
that pressured SodaStream to divest from, or exit, Israel. - Answer -secondary
stakeholder
In the early 1900s, there were hundreds of soft drink manufacturers with slightly
differentiated products. Now, there are only several major firms in the carbonated soft
drinks industry (e.g., Coca-Cola, PepsiCo, Keurig Dr Pepper). Thus, the structure of this
industry shifted from __________ to __________ over time - Answer -monopolistic
competition; an oligopoly
__________ is defined as the difference between a buyer's willingness to pay for a
product or service and the firm's total cost to produce it - Answer -economic value
creation
An organization's __________ describes how an organization gets to where it wants to
be. - Answer -mission
Alexa recently accepted a position at Gap Inc. She is expected to efficiently and
effectively use the firm's Marketing budget to achieve the firm's goal of attracting new
customers in the Winter season. According to the Level 5 Leadership Pyramid, Alexa's
role is representative of the ________ - Answer -competent manager
Why did JCPenney fail to successfully implement a blue ocean strategy? - Answer -
Former CEO Ron Johnson failed to test the blue ocean strategy in select locations
Canon's ability to leverage existing photocopier technology into new markets (i.e., for
small- and medium-sized firms) in the early 1970s represents what type of innovation? -
Answer -Architectural
Enterprise Rent-A-Car's national decision to offer door-to-door pickup and drop-off
service originated with a branch manager in Florida. What type of leadership strategy
does this decision represent? - Answer -strategy as an emergent process
The carbonate soft drinks (CSD) industry is dominated by firms such as Coca-Cola,
PepsiCo, and Dr. Pepper Snapple Group. This industry would be characterized as
__________. - Answer -an oligopoly
, Which of the following is NOT a characteristic of blue ocean strategy? - Answer -firms'
exploitation of existing demand
According to Kim & Mauborgne (2015), __________ represent(s) the appropriate unit of
analysis for explaining the creation of blue oceans. - Answer -strategic moves
Who were the noncustomers Marvel targeted during its first blue ocean? - Answer -
college students
strategic management - Answer -the integrative management field that combines
analysis, formulation, and implementation in the quest for competitive advantage
AFI framework - Answer -Analysis, Formulation, Implementation
The Importance of Strategic Management - Answer -society perspective, consumer
perspective, employee perspective
level 1: highly capable individual - Answer -makes productive contributions through
motivation, talent, knowledge, and skills
Level 2: Contributing Team Member - Answer -uses high level of individual capability to
work effectively with others in order to achieve team objectives
Level 3: Competent Manager - Answer -is efficient and effective in organizing
resources to accomplish stated goals and objectives. Does things right
Level 4: Effective Leader - Answer -Presents compelling vision and mission to guide
groups toward superior performance. Does the right things.
Level 5: Executive - Answer -builds enduring greatness through a combination of
willpower and humility
vision statement - Answer -captures an organizations aspirations and what it ultimately
wants to accomplish
mission statement - Answer -describes what a company does; it defines the means by
which an organization's vision is accomplished.
HOW
Top-down strategic planning - Answer -Rational, top-down process aiding in
programming for future success.
Rests on the assumption that we can predict the future from the past.
- info only flows one way
- we cannot simply know the future
Based on the Philadelphia beverage tax video and our subsequent discussion,
__________ factors are the primary reason why we are witnessing an increase in
beverage taxes across different cities. - Answer -Sociocultural
Business-level strategies are primarily concerned with__________: - Answer -How
firms should compete
The Boycott, Divestment, and Sanctions (BDS) Movement represents a __________
that pressured SodaStream to divest from, or exit, Israel. - Answer -secondary
stakeholder
In the early 1900s, there were hundreds of soft drink manufacturers with slightly
differentiated products. Now, there are only several major firms in the carbonated soft
drinks industry (e.g., Coca-Cola, PepsiCo, Keurig Dr Pepper). Thus, the structure of this
industry shifted from __________ to __________ over time - Answer -monopolistic
competition; an oligopoly
__________ is defined as the difference between a buyer's willingness to pay for a
product or service and the firm's total cost to produce it - Answer -economic value
creation
An organization's __________ describes how an organization gets to where it wants to
be. - Answer -mission
Alexa recently accepted a position at Gap Inc. She is expected to efficiently and
effectively use the firm's Marketing budget to achieve the firm's goal of attracting new
customers in the Winter season. According to the Level 5 Leadership Pyramid, Alexa's
role is representative of the ________ - Answer -competent manager
Why did JCPenney fail to successfully implement a blue ocean strategy? - Answer -
Former CEO Ron Johnson failed to test the blue ocean strategy in select locations
Canon's ability to leverage existing photocopier technology into new markets (i.e., for
small- and medium-sized firms) in the early 1970s represents what type of innovation? -
Answer -Architectural
Enterprise Rent-A-Car's national decision to offer door-to-door pickup and drop-off
service originated with a branch manager in Florida. What type of leadership strategy
does this decision represent? - Answer -strategy as an emergent process
The carbonate soft drinks (CSD) industry is dominated by firms such as Coca-Cola,
PepsiCo, and Dr. Pepper Snapple Group. This industry would be characterized as
__________. - Answer -an oligopoly
, Which of the following is NOT a characteristic of blue ocean strategy? - Answer -firms'
exploitation of existing demand
According to Kim & Mauborgne (2015), __________ represent(s) the appropriate unit of
analysis for explaining the creation of blue oceans. - Answer -strategic moves
Who were the noncustomers Marvel targeted during its first blue ocean? - Answer -
college students
strategic management - Answer -the integrative management field that combines
analysis, formulation, and implementation in the quest for competitive advantage
AFI framework - Answer -Analysis, Formulation, Implementation
The Importance of Strategic Management - Answer -society perspective, consumer
perspective, employee perspective
level 1: highly capable individual - Answer -makes productive contributions through
motivation, talent, knowledge, and skills
Level 2: Contributing Team Member - Answer -uses high level of individual capability to
work effectively with others in order to achieve team objectives
Level 3: Competent Manager - Answer -is efficient and effective in organizing
resources to accomplish stated goals and objectives. Does things right
Level 4: Effective Leader - Answer -Presents compelling vision and mission to guide
groups toward superior performance. Does the right things.
Level 5: Executive - Answer -builds enduring greatness through a combination of
willpower and humility
vision statement - Answer -captures an organizations aspirations and what it ultimately
wants to accomplish
mission statement - Answer -describes what a company does; it defines the means by
which an organization's vision is accomplished.
HOW
Top-down strategic planning - Answer -Rational, top-down process aiding in
programming for future success.
Rests on the assumption that we can predict the future from the past.
- info only flows one way
- we cannot simply know the future
