MBA 705 Exam 2 Questions With Correct
Answers
Social Forces - CORRECT ANSWER✔✔--Societal values
| | | | |
-Trends
-Traditions
-Religious practices |
-Concern for the environment | | |
Social Forces Case #1 Eating Habits - CORRECT ANSWER✔✔--Consumers "super
| | | | | | | | | |
size" at record rates while demanding healthier foods.
| | | | | | |
-Many fast food restaurants have been "supersizing" their meal combinations by
| | | | | | | | | | |
adding extra fries and larger drinks, while at the same time expanding
| | | | | | | | | | | |
alternatives for items such as grilled chicken sandwiches and salads
| | | | | | | | |
Social Forces Case #2 Automobiles - CORRECT ANSWER✔✔-Contrary to demand
| | | | | | | | | |
patterns in other parts of the world, demand for large vehicles remains strong in
| | | | | | | | | | | | | |
the U.S. amidst cries for greater fuel economy.
| | | | | | |
Social Forces: Global Concerns - CORRECT ANSWER✔✔--Firms operating in
| | | | | | | | |
multiple countries must address multiple sets of social forces.
| | | | | | | |
,-Social forces are influenced by national culture, the generally accepted values,
| | | | | | | | | | |
traditions, and patterns of behavior in a society. Firms should recognize these
| | | | | | | | | | | |
cultural differences.
|
-Some firms struggle because their managers consciously refer to their own
| | | | | | | | | | |
cultural values as a standard of judgment, a phenomenon known as the self-
| | | | | | | | | | | |
reference criterion. |
Technological Forces - CORRECT ANSWER✔✔--Scientific improvements &
| | | | | | |
innovations
-The Internet is arguably the most pervasive technological force affecting most
| | | | | | | | | | |
industries.
The World is Flat (Thomas Friedman, 2005) - CORRECT ANSWER✔✔-During the
| | | | | | | | | | |
dot-com bubble of the late 1990s, telecommunications firms laid fiber optic
| | | | | | | | | | |
cables across the oceans to connect the U.S. with China and India.
| | | | | | | | | | | |
Since the dot-com bust, these cables have provided high quality, low cost contact
| | | | | | | | | | | | |
with developing nations, "leveling the playing field."
| | | | | |
"Any activity that can be digitized and moved around will get moved around."
| | | | | | | | | | | |
Strategy and The Internet - CORRECT ANSWER✔✔--Has the Internet created new
| | | | | | | | | | |
business models or just altered the old ones?
| | | | | | |
,-Although the Internet plays a substantial role, critics challenge the notion that
| | | | | | | | | | |
|"new business models" are needed to compete in the "new economy." Michael
| | | | | | | | | | | |
Porter and others argue that the market forces that governed the traditional
| | | | | | | | | | | |
economy have not disappeared in the Internet economy.
| | | | | | |
Disaggregation & Reaggregation - CORRECT ANSWER✔✔--Large firms exist
| | | | | | | |
because they can perform most tasks—raw material procurement, production,
| | | | | | | | |
human resource management, sales, and so forth—more efficiently than they
| | | | | | | | | |
would otherwise be performed if they were "outsourced" to the open market.
| | | | | | | | | | |
-Today, many progressive firms have "disaggregated" by no longer perform all of
| | | | | | | | | | | |
their functional activities, but instead "reaggregate" by searching for partners
| | | | | | | | | |
who can perform some of the activities more efficiently.
| | | | | | | |
Strategic Dimensions of the Internet - CORRECT ANSWER✔✔--The Internet has
| | | | | | | | | |
influenced strategic management in very specific ways.
| | | | | |
-Contrary to early expectations, the Internet has not always generated greater
| | | | | | | | | | |
profits for businesses. Consumers have benefitted immensely.
| | | | | |
-Five Strategic Dimension of the Internet are addressed in the following slides.
| | | | | | | | | | |
Dimension #1: Movement toward information symmetry- - CORRECT
| | | | | | | |
ANSWER✔✔-Typical markets are characterized by information asymmetry, | | | | | | |
whereby sellers control key information that is not available to buyers. The
| | | | | | | | | | | |
Internet promotes information symmetry, whereby buyers and sellers share
| | | | | | | | |
information.
, Dimension #2: Internet as distribution channel - CORRECT ANSWER✔✔-The
| | | | | | | | |
Internet acts as a distribution channel for non-tangible goods and services.
| | | | | | | | | | |
Consumers can purchase items such as airline tickets, insurance, stocks, and
| | | | | | | | | | |
computer software online without the necessity of physical delivery.
| | | | | | | |
Dimension #3: Speed - CORRECT ANSWER✔✔-The Internet offers numerous
| | | | | | | | |
opportunities to improve the speed of the actual transaction, as well as the
| | | | | | | | | | | | |
process that leads up to and follows it.
| | | | | | |
Dimension #4: Interactivity - CORRECT ANSWER✔✔-Consumers discuss their
| | | | | | | |
experiences with products and services on bulletin boards or in chat rooms. Firms
| | | | | | | | | | | |
|can readily exchange information with trade associations that represent their
| | | | | | | | | |
industries.
Dimension #5: Potential for cost reductions and cost shifting - CORRECT
| | | | | | | | | | |
ANSWER✔✔-The Internet provides many businesses with opportunities to | | | | | | | |
minimize their costs—both fixed and variable—and thereby enhance flexibility.
| | | | | | | |
Forms of Electronic Commerce - CORRECT ANSWER✔✔-B2B, B2C, B2G.
| | | | | | | |
C2B, C2C |
Forms of Electronic Commerce - CORRECT ANSWER✔✔-Many traditional firms
| | | | | | | | |
are integrating e-commerce into their existing business models
| | | | | | |
Answers
Social Forces - CORRECT ANSWER✔✔--Societal values
| | | | |
-Trends
-Traditions
-Religious practices |
-Concern for the environment | | |
Social Forces Case #1 Eating Habits - CORRECT ANSWER✔✔--Consumers "super
| | | | | | | | | |
size" at record rates while demanding healthier foods.
| | | | | | |
-Many fast food restaurants have been "supersizing" their meal combinations by
| | | | | | | | | | |
adding extra fries and larger drinks, while at the same time expanding
| | | | | | | | | | | |
alternatives for items such as grilled chicken sandwiches and salads
| | | | | | | | |
Social Forces Case #2 Automobiles - CORRECT ANSWER✔✔-Contrary to demand
| | | | | | | | | |
patterns in other parts of the world, demand for large vehicles remains strong in
| | | | | | | | | | | | | |
the U.S. amidst cries for greater fuel economy.
| | | | | | |
Social Forces: Global Concerns - CORRECT ANSWER✔✔--Firms operating in
| | | | | | | | |
multiple countries must address multiple sets of social forces.
| | | | | | | |
,-Social forces are influenced by national culture, the generally accepted values,
| | | | | | | | | | |
traditions, and patterns of behavior in a society. Firms should recognize these
| | | | | | | | | | | |
cultural differences.
|
-Some firms struggle because their managers consciously refer to their own
| | | | | | | | | | |
cultural values as a standard of judgment, a phenomenon known as the self-
| | | | | | | | | | | |
reference criterion. |
Technological Forces - CORRECT ANSWER✔✔--Scientific improvements &
| | | | | | |
innovations
-The Internet is arguably the most pervasive technological force affecting most
| | | | | | | | | | |
industries.
The World is Flat (Thomas Friedman, 2005) - CORRECT ANSWER✔✔-During the
| | | | | | | | | | |
dot-com bubble of the late 1990s, telecommunications firms laid fiber optic
| | | | | | | | | | |
cables across the oceans to connect the U.S. with China and India.
| | | | | | | | | | | |
Since the dot-com bust, these cables have provided high quality, low cost contact
| | | | | | | | | | | | |
with developing nations, "leveling the playing field."
| | | | | |
"Any activity that can be digitized and moved around will get moved around."
| | | | | | | | | | | |
Strategy and The Internet - CORRECT ANSWER✔✔--Has the Internet created new
| | | | | | | | | | |
business models or just altered the old ones?
| | | | | | |
,-Although the Internet plays a substantial role, critics challenge the notion that
| | | | | | | | | | |
|"new business models" are needed to compete in the "new economy." Michael
| | | | | | | | | | | |
Porter and others argue that the market forces that governed the traditional
| | | | | | | | | | | |
economy have not disappeared in the Internet economy.
| | | | | | |
Disaggregation & Reaggregation - CORRECT ANSWER✔✔--Large firms exist
| | | | | | | |
because they can perform most tasks—raw material procurement, production,
| | | | | | | | |
human resource management, sales, and so forth—more efficiently than they
| | | | | | | | | |
would otherwise be performed if they were "outsourced" to the open market.
| | | | | | | | | | |
-Today, many progressive firms have "disaggregated" by no longer perform all of
| | | | | | | | | | | |
their functional activities, but instead "reaggregate" by searching for partners
| | | | | | | | | |
who can perform some of the activities more efficiently.
| | | | | | | |
Strategic Dimensions of the Internet - CORRECT ANSWER✔✔--The Internet has
| | | | | | | | | |
influenced strategic management in very specific ways.
| | | | | |
-Contrary to early expectations, the Internet has not always generated greater
| | | | | | | | | | |
profits for businesses. Consumers have benefitted immensely.
| | | | | |
-Five Strategic Dimension of the Internet are addressed in the following slides.
| | | | | | | | | | |
Dimension #1: Movement toward information symmetry- - CORRECT
| | | | | | | |
ANSWER✔✔-Typical markets are characterized by information asymmetry, | | | | | | |
whereby sellers control key information that is not available to buyers. The
| | | | | | | | | | | |
Internet promotes information symmetry, whereby buyers and sellers share
| | | | | | | | |
information.
, Dimension #2: Internet as distribution channel - CORRECT ANSWER✔✔-The
| | | | | | | | |
Internet acts as a distribution channel for non-tangible goods and services.
| | | | | | | | | | |
Consumers can purchase items such as airline tickets, insurance, stocks, and
| | | | | | | | | | |
computer software online without the necessity of physical delivery.
| | | | | | | |
Dimension #3: Speed - CORRECT ANSWER✔✔-The Internet offers numerous
| | | | | | | | |
opportunities to improve the speed of the actual transaction, as well as the
| | | | | | | | | | | | |
process that leads up to and follows it.
| | | | | | |
Dimension #4: Interactivity - CORRECT ANSWER✔✔-Consumers discuss their
| | | | | | | |
experiences with products and services on bulletin boards or in chat rooms. Firms
| | | | | | | | | | | |
|can readily exchange information with trade associations that represent their
| | | | | | | | | |
industries.
Dimension #5: Potential for cost reductions and cost shifting - CORRECT
| | | | | | | | | | |
ANSWER✔✔-The Internet provides many businesses with opportunities to | | | | | | | |
minimize their costs—both fixed and variable—and thereby enhance flexibility.
| | | | | | | |
Forms of Electronic Commerce - CORRECT ANSWER✔✔-B2B, B2C, B2G.
| | | | | | | |
C2B, C2C |
Forms of Electronic Commerce - CORRECT ANSWER✔✔-Many traditional firms
| | | | | | | | |
are integrating e-commerce into their existing business models
| | | | | | |
