UNH ADMN 400 EXAMINATION
TEST QUESTIONS WITH ANSWERS
GRADED A PLUS
◉ Distinctive Competencies. Answer: 1. New niche in an established
market: identifying a segment of the market that is not currently being
utilized by other companies
2. New market: Identifying new markets by either transferring a
product/service from one established geographic market to another, or
by creating entirely new industries.
◉ Product Ecosystems. Answer: A set of products that are used
complementary to one another (interconnection)
An example of a product ecosystem is the Apple ecosystem where
products like iPhones, iPads, Macs, watches, and AirPods all seamlessly
integrate with each other.
◉ Business Ethics. Answer: Ethical or unethical behavior by employees
in the context of their jobs.
, Use of ethics in business means the organization must make the choices
that benefit the good of everyone, including shareholders, stakeholders,
and the community.
◉ Corporate Social Responsibility. Answer: The concern of a business
for the welfare of society.
The overall way in which a business attempts to balance its
commitments to relevant groups and individuals in society (or in other
words to its organizational stakeholders) when making decisions.
◉ Who are organizational stakeholders?. Answer: - Customers
- Employees
- Owners/Investors
- Local (and global) community
- Suppliers
◉ Ethics vs CSR. Answer: Ethics: guiding principles, determines what is
good vs bad or right vs wrong
CSR: the practical application of ethical concerns for the benefit of
society, determines what is allowable and what is not.
◉ 4 Dimensions of CSR. Answer:
TEST QUESTIONS WITH ANSWERS
GRADED A PLUS
◉ Distinctive Competencies. Answer: 1. New niche in an established
market: identifying a segment of the market that is not currently being
utilized by other companies
2. New market: Identifying new markets by either transferring a
product/service from one established geographic market to another, or
by creating entirely new industries.
◉ Product Ecosystems. Answer: A set of products that are used
complementary to one another (interconnection)
An example of a product ecosystem is the Apple ecosystem where
products like iPhones, iPads, Macs, watches, and AirPods all seamlessly
integrate with each other.
◉ Business Ethics. Answer: Ethical or unethical behavior by employees
in the context of their jobs.
, Use of ethics in business means the organization must make the choices
that benefit the good of everyone, including shareholders, stakeholders,
and the community.
◉ Corporate Social Responsibility. Answer: The concern of a business
for the welfare of society.
The overall way in which a business attempts to balance its
commitments to relevant groups and individuals in society (or in other
words to its organizational stakeholders) when making decisions.
◉ Who are organizational stakeholders?. Answer: - Customers
- Employees
- Owners/Investors
- Local (and global) community
- Suppliers
◉ Ethics vs CSR. Answer: Ethics: guiding principles, determines what is
good vs bad or right vs wrong
CSR: the practical application of ethical concerns for the benefit of
society, determines what is allowable and what is not.
◉ 4 Dimensions of CSR. Answer:
