MGT 8803 UPDATED ACTUAL ANSWERS AND
QUESTIONS SET A+
✔✔Socio-cultural Variables - ✔✔- Lifestyle Changes
- Career Expectations
- Demographics
- Increase in Temporary Workers
- Geographic Distribution of Global Population
✔✔Primary impact of Socio-culture - ✔✔Impacts what consumers want to buy.
Impacts market sizes.
Increasing management complexity of a diverse workforce - accommodating cultural
and gender differences in the work force.
✔✔Technological Variables - ✔✔-productivity improvements
-industrial spending for R&D
-patent protection
-digital communications
-biotechnology
-nanotechnology
✔✔Primary Impact of Technology - ✔✔Technology is an enabler of new business
models, business processes, new products, and services. Can be efficiency driven,
product sustainable or disruptive in character
✔✔Ecological Variables - ✔✔- Global Warming
- Sustainable Economic Growth
- Carbon Footprint
- Fossil Fuel Consumption
- Pollution of Air & Water
- Toxins in Food and Products
✔✔Primary Impact of Ecology - ✔✔Can affect buyers choice of procurement partners -
accountable sourcing - and brand image.
, Potential for increased government regulation of operational and transportation
processes
Employee engagement
Can create business opportunities
✔✔Legal/Ethical Variables - ✔✔Laws, mandates, regulations and court decisions
Hiring and Promotion Laws
Anti-Trust Regulations
Environmental Protection
Industry Regulation and Deregulation
Data Security
Intellectual Property
Ethical Behavior
✔✔Primary Impact of Laws/Ethics - ✔✔Typically creates limitations in business
marketing and operational practices. Increased operational costs.
Can create entrepreneurial opportunities for new and existing firms.
✔✔structure-conduct-performance (SCP) model - ✔✔An industrial organization
economics model that suggests industry structure determines firm conduct (strategy),
which in turn determines firm performance.
✔✔Aspects of firm structure - ✔✔Number of competitors and Product Diversity
Value Chain and Extent of Vertical Integration
Economics of Supply and Demand
Cost of Entry/Exit
✔✔Aspects of firm conduct - ✔✔Branding, Product Differentiation and Price Setting
Capacity
Innovation
Operating Efficiencies
Collusion
✔✔Aspects of firm performance - ✔✔Profits
Value Creation
Technological Progress
Shareholder Returns
Industry Performance
✔✔Perfect Competition - ✔✔a market structure in which a large number of firms all
produce the same product
✔✔Monopolistic competition - ✔✔a market structure in which many companies sell
products that are similar but not identical
QUESTIONS SET A+
✔✔Socio-cultural Variables - ✔✔- Lifestyle Changes
- Career Expectations
- Demographics
- Increase in Temporary Workers
- Geographic Distribution of Global Population
✔✔Primary impact of Socio-culture - ✔✔Impacts what consumers want to buy.
Impacts market sizes.
Increasing management complexity of a diverse workforce - accommodating cultural
and gender differences in the work force.
✔✔Technological Variables - ✔✔-productivity improvements
-industrial spending for R&D
-patent protection
-digital communications
-biotechnology
-nanotechnology
✔✔Primary Impact of Technology - ✔✔Technology is an enabler of new business
models, business processes, new products, and services. Can be efficiency driven,
product sustainable or disruptive in character
✔✔Ecological Variables - ✔✔- Global Warming
- Sustainable Economic Growth
- Carbon Footprint
- Fossil Fuel Consumption
- Pollution of Air & Water
- Toxins in Food and Products
✔✔Primary Impact of Ecology - ✔✔Can affect buyers choice of procurement partners -
accountable sourcing - and brand image.
, Potential for increased government regulation of operational and transportation
processes
Employee engagement
Can create business opportunities
✔✔Legal/Ethical Variables - ✔✔Laws, mandates, regulations and court decisions
Hiring and Promotion Laws
Anti-Trust Regulations
Environmental Protection
Industry Regulation and Deregulation
Data Security
Intellectual Property
Ethical Behavior
✔✔Primary Impact of Laws/Ethics - ✔✔Typically creates limitations in business
marketing and operational practices. Increased operational costs.
Can create entrepreneurial opportunities for new and existing firms.
✔✔structure-conduct-performance (SCP) model - ✔✔An industrial organization
economics model that suggests industry structure determines firm conduct (strategy),
which in turn determines firm performance.
✔✔Aspects of firm structure - ✔✔Number of competitors and Product Diversity
Value Chain and Extent of Vertical Integration
Economics of Supply and Demand
Cost of Entry/Exit
✔✔Aspects of firm conduct - ✔✔Branding, Product Differentiation and Price Setting
Capacity
Innovation
Operating Efficiencies
Collusion
✔✔Aspects of firm performance - ✔✔Profits
Value Creation
Technological Progress
Shareholder Returns
Industry Performance
✔✔Perfect Competition - ✔✔a market structure in which a large number of firms all
produce the same product
✔✔Monopolistic competition - ✔✔a market structure in which many companies sell
products that are similar but not identical
