GMS 200 Exam Review questions well
answered passed
The key result of achieving competitive advantage is _______
A. An ability to sidestep government regulations.
B. An ability to consistently do something of high value which one's competitors cannot replicate quickly
or do as well.
C. An ability to drive the competition out of business and to make extraordinarily high profits.
D. An ability to establish a monopolistic market position.
E. An ability to dictate consumer needs and preferences. - correct answer ✔✔An ability to consistently
do something of high value which one's competitors cannot replicate quickly or do as well.
__________ is the worldwide interdependence of resource flows, product markets, and business
competition that characterizes the new economy
A. Economic internationalization.
B. International management.
C. Globalization.
D. World interdependence.
E. Cross-cultural business. - correct answer ✔✔International management
The characteristics that are typically associated with entrepreneurs include all of the following EXCEPT:
a. Internal locus of control.
b. High need for achievement.
c. Intolerance for ambiguity.
d. Action orientation.
e. Self-confidence. - correct answer ✔✔Intolerance for ambiguity
, Setting objectives and determining what should be done to accomplish them is the essence of the
management function of __________.
f. Productivity improvement.
g. Controlling.
h. Leading.
i. Organizing.
j. Planning. - correct answer ✔✔j. Planning.
5. Planning facilitates control by defining the objectives and __________.
a. Identifying the specific courses of action to be taken.
b. Creating specialization among the workers.
c. Improving organizational structures.
d. Developing the human resources.
e. Motivating the workers. - correct answer ✔✔a. Identifying the specific courses of action to be taken.
A comprehensive plan of action that identifies long-term direction for an organization and guides
resource utilization to accomplish an organization's goals with sustainable competitive advantage is
known as the __________.
a. Operating philosophy.
b. Strategy.
c. Planning objectives.
d. Operating objectives.
e. Official objectives. - correct answer ✔✔Answer. B.
__________refer(s) to an organization's basic reason for existence in society.
a. Core values.
b. Competitive advantage.
c. Strategic objectives.
d. Mission.
answered passed
The key result of achieving competitive advantage is _______
A. An ability to sidestep government regulations.
B. An ability to consistently do something of high value which one's competitors cannot replicate quickly
or do as well.
C. An ability to drive the competition out of business and to make extraordinarily high profits.
D. An ability to establish a monopolistic market position.
E. An ability to dictate consumer needs and preferences. - correct answer ✔✔An ability to consistently
do something of high value which one's competitors cannot replicate quickly or do as well.
__________ is the worldwide interdependence of resource flows, product markets, and business
competition that characterizes the new economy
A. Economic internationalization.
B. International management.
C. Globalization.
D. World interdependence.
E. Cross-cultural business. - correct answer ✔✔International management
The characteristics that are typically associated with entrepreneurs include all of the following EXCEPT:
a. Internal locus of control.
b. High need for achievement.
c. Intolerance for ambiguity.
d. Action orientation.
e. Self-confidence. - correct answer ✔✔Intolerance for ambiguity
, Setting objectives and determining what should be done to accomplish them is the essence of the
management function of __________.
f. Productivity improvement.
g. Controlling.
h. Leading.
i. Organizing.
j. Planning. - correct answer ✔✔j. Planning.
5. Planning facilitates control by defining the objectives and __________.
a. Identifying the specific courses of action to be taken.
b. Creating specialization among the workers.
c. Improving organizational structures.
d. Developing the human resources.
e. Motivating the workers. - correct answer ✔✔a. Identifying the specific courses of action to be taken.
A comprehensive plan of action that identifies long-term direction for an organization and guides
resource utilization to accomplish an organization's goals with sustainable competitive advantage is
known as the __________.
a. Operating philosophy.
b. Strategy.
c. Planning objectives.
d. Operating objectives.
e. Official objectives. - correct answer ✔✔Answer. B.
__________refer(s) to an organization's basic reason for existence in society.
a. Core values.
b. Competitive advantage.
c. Strategic objectives.
d. Mission.
