POM EXAM REVISION QUESTIONS AND
100% VERIFIED ANSWERS!!
Which of the following statements about managers is true?
The best managers maintain a clear focus on both effectiveness and efficiency.
The chief executive officer, company president, and the chief operating officer are all
examples of _____ managers.
strategic
Cost competitiveness involves
Pricing products at a level attractive to consumers
Which of the following economic sectors has become increasingly important to the U.S.
economy?
service
In what way has the Internet made cost competitiveness a more important consideration
for businesses?
Consumers can more easily compare prices online
Which of the following was introduced as the result of an evolving societal trend?
family leave
Scenario A. Marla's Basement is a small retail store that specializes in antique figurines
and decorative knickknacks. In analyzing the environment, Marla has uncovered the
following interesting findings:
1. Marla has recently purchased more inventory than in the past. The people from whom
she buys are selling off more knickknacks because their children are not interested in this
type of decorative items and they would prefer to liquidate unnecessary household items to
help them with their daily expenses.
2. Marla discovered that her business is in a historical preservation district. As she
, considers remodeling the shop, she realized that she must pay attention to the guidelines set
forth in the governing laws.
3. Marla's buyer-customer base seems to be changing. The tastes of the younger generation
near her shop are shifting to modern decor, so the customer base to which she sells is
shrinking.
4. Marla has been told that she should consider selling her inventory via the Internet, but
she does not own (or understand how to use) a computer.
5. In reading a survey of regional business, Marla discovered that there are no other
antique knickknack stores within 200 miles.
When Marla read the survey of regional businesses, she was investigating
the competitive environment.
The entrance by a company into another market or industry for which it has an existing
expertise is called
domain selection.
_____ costs are fixed costs buyers face if they change suppliers.
Switching
Tomiko is the manager of Davis Freight, a mid-sized trucking company. The owners have
assigned Tomiko the task of applying strategic decision making to analyze the competitive
environment. Tomiko does an analysis of the competitors currently in the market and how
much market share each has. In addition, Tomiko looks at trends in the trucking industry
and how Davis has addressed those trends. Tomiko assesses the possibility of new entrants
to the market, factoring in barriers to entry in the trucking business. In addition, Tomiko
studies substitutes and complements, as well as suppliers and customers. Is Tomiko
covering all of her bases in assessing the competitive environment?
Tomiko needs to include an assessment of the tactics other companies use to compete.
Which of the following statements about creativity is true?
Note Incorrect Answer: The fundamental unit of creative value in business is artistic ability.
100% VERIFIED ANSWERS!!
Which of the following statements about managers is true?
The best managers maintain a clear focus on both effectiveness and efficiency.
The chief executive officer, company president, and the chief operating officer are all
examples of _____ managers.
strategic
Cost competitiveness involves
Pricing products at a level attractive to consumers
Which of the following economic sectors has become increasingly important to the U.S.
economy?
service
In what way has the Internet made cost competitiveness a more important consideration
for businesses?
Consumers can more easily compare prices online
Which of the following was introduced as the result of an evolving societal trend?
family leave
Scenario A. Marla's Basement is a small retail store that specializes in antique figurines
and decorative knickknacks. In analyzing the environment, Marla has uncovered the
following interesting findings:
1. Marla has recently purchased more inventory than in the past. The people from whom
she buys are selling off more knickknacks because their children are not interested in this
type of decorative items and they would prefer to liquidate unnecessary household items to
help them with their daily expenses.
2. Marla discovered that her business is in a historical preservation district. As she
, considers remodeling the shop, she realized that she must pay attention to the guidelines set
forth in the governing laws.
3. Marla's buyer-customer base seems to be changing. The tastes of the younger generation
near her shop are shifting to modern decor, so the customer base to which she sells is
shrinking.
4. Marla has been told that she should consider selling her inventory via the Internet, but
she does not own (or understand how to use) a computer.
5. In reading a survey of regional business, Marla discovered that there are no other
antique knickknack stores within 200 miles.
When Marla read the survey of regional businesses, she was investigating
the competitive environment.
The entrance by a company into another market or industry for which it has an existing
expertise is called
domain selection.
_____ costs are fixed costs buyers face if they change suppliers.
Switching
Tomiko is the manager of Davis Freight, a mid-sized trucking company. The owners have
assigned Tomiko the task of applying strategic decision making to analyze the competitive
environment. Tomiko does an analysis of the competitors currently in the market and how
much market share each has. In addition, Tomiko looks at trends in the trucking industry
and how Davis has addressed those trends. Tomiko assesses the possibility of new entrants
to the market, factoring in barriers to entry in the trucking business. In addition, Tomiko
studies substitutes and complements, as well as suppliers and customers. Is Tomiko
covering all of her bases in assessing the competitive environment?
Tomiko needs to include an assessment of the tactics other companies use to compete.
Which of the following statements about creativity is true?
Note Incorrect Answer: The fundamental unit of creative value in business is artistic ability.
