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WPC 480 MIDTERM QUESTIONS AND CORRECT ANSWERS

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WPC 480 MIDTERM QUESTIONS AND CORRECT ANSWERS

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All of the following are external stakeholders except which of the following?


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competitors




When a firm combines experience-based learning and process innovation, the firm


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jumps to a steeper learning curve.




Organizational values help people make choices that are ethical and company-goal-
oriented. These values answer which strategic management question?

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How do we accomplish our goals in the organization?




Which of the following three important stakeholder attributes should managers pay
special close attention to in order to better understand stakeholder impact analysis?


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power, legitimacy, and urgency




The balanced-scorecard framework is a tool for strategy ________, not ________.


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implementation; formulation




By selling a tablet at $1,000 for which consumers are willing to pay up to $1,200, a
consumer electronics firm makes a profit of $400 per unit. In this scenario, the amount
$600, that is ($1200 - $1000) + $400, is the


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economic value created.




Which of the following best represents a customer-oriented vision statement?

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