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The MBA oath first developed at Harvard Business School and now signed by students at over 300 business schools is modeled after The Hippocratic oath in medicine What helps notions such as fairness, honesty, and reciprocity to be codified into law? The notions are universal norms What is true of shareholders in a public stock company? They are granted a charter of incorporation by the state and legally own company stock According to Michael Porter, what is a problem with many publicly traded companies? They have defined value creation too narrowly in terms of financial performance What is true of corporate strategy? A corporate strategy must be able to create synergies across business units that are quite different What satisfies a firms ethical responsibilities? Selling vaccines at a subsidized price in a less developed country even though this results in reduced shareholder returns As the CEO of a firm, Eva exhibited her strong commitment toward the company's core values that customer's well-being is more important than profit when she convinced the board of directors to liquidate the companies pesticide subsidiary. The pesticide brand sold by her company was a major revenue earner in lesser-developed nations, but studies indicate that it is a carcinogen. Eva persuaded the board that the company had to be responsible toward society. In this scenario, Eva has demonstrated... Strategic leadership The interaction between a firm and its diverse internal and external stakeholders is best described as a(n)... Exchange relationship What is true of the social responsibilities of a business? A firm's ethical responsibilities go beyond its legal responsibilities Soapsuds Inc., a manufacturer of cleaning agents, supplies its products to All Needs Inc., a supermarket chain. It demands that All Needs create more shelf space in its stores for Soapsuds' products. However, All Needs Inc. refuses to do this. Instead, it decides to produce its own range of cleaning agents with its own label "All Wash." In this scenario, All Needs Inc. has exercised its bargaining power as a buyer through.... Backward integration Due to economic regression in United Filipia, the profitability of the large conglomerate Blue Wing Products Inc. (BWP) was poor. An analysis of the company's business showed that the company could become profitable if it divested a few strategic business units under its banner. From which of the following businesses would BWP find it most easy to exit? The e-commerce retail business, where investments on assets are low Magical Productions is a large production company that controls a major portion of the television industry's market share along with two other firms. Despite its competitiveness with two other firms, it is influenced by their actions and often has to consider their strategic actions before acting on its own. In this scenario, Magical Productions is most likely functioning in a(n).... Oligopolistic industry What is a macroeconomic factor that can affect a firm's strategy? Levels of employment A firm's strategic position is likely to be strong when... The gap between the value the firms product generates and the cost to produce it is large How are the critical assumptions of the resource-based model of a firm fundamentally different from the way in which a firm is viewed in the perfectly competitive industry structure? In perfect competition, all firms have access to the same capabilities, whereas in the resource-based model, resource differences exist between firms in the same industry The "diagonal assembly system" was a production system pioneered by the automobile company Gogo. Recently, Gogo was able to sue a competitor and won the suit, thereby receiving $100 million in damages. What would most likely lead Gogo to win that suit? The competitor infringed on Gogo's patent of the "diagonal assembly system" Facing stiff competition in the e-reader market, Sumac Industries wants to protect its competitive advantage by increasing the perceived value of its reader. Sumac's best strategy to accomplish this would be... Highlight the number of celebrities who use Sumac e-readers When the laptop market overtook the desktop market, Blue Tech Inc., a leader in desktop technology, was left at a competitive disadvantage. Later, Blue Tech Inc.'s management channeled all of the company's efforts and revenue to develop an efficient laptop from scratch in less than a year. However, the company failed because most of its competitors had already been in the laptop market for five years. Blue Tech Inc.'s models were inferior to the ones in the market. In this scenario, Blue Tech Inc.'s failure can be best attributed to... Time compression diseconomies The translation of strategy into action primarily takes place in a firm's... Business model What best illustrates bundling? Fresh Seeds sells seed packages, in which a person can buy a package of three types of seeds at a discounted price compared to buying the seeds individually. The balanced scorecard can accommodate... Both short and long term performance metrics What correctly compares Apple and Microsoft in 2016? Apple had a higher return on invested capital than Microsoft Thomas is the owner of a landscaping company that caters to a very wealthy clientele. His company has struggled to differentiate itself in the area, but because he has hired several expensive but highly qualified team members, Thomas is unable to shift to a cost leadership strategy. What strategy is most likely to achieve a competitive advantage? Narrow the scope of the comp