MANAGEMENT FINAL PAPER 2026 COMPLETE
QUESTIONS AND SOLUTIONS GRADED A+
◉ Strategy. Answer: Consists of the organizational goals and the
methods of implementing the goals; every element of the SWOT
analysis should be considered when developing strategies.
◉ Key Policies. Answer: Main goals of an organization.
◉ Organizational Structure. Answer: The formal relationships
among different functional areas that aids in communication.
◉ Relative Advantage. Answer: Where one entity has an advantage
over another; will often trade their specialized products for those
that they do not produce; companies with a relative advantage are
able to produce products at a lower cost than their competitors.
◉ North American Free Trade Agreement (NAFTA). Answer: A free
trade agreement between the United State, Mexico, and Canada to
reduce tariffs and other trade restrictions.
,◉ General Agreement on Tariffs and Trade (GATT). Answer: A trade
agreement designed to reduce tariffs and other trade restrictions.
◉ Sustainability. Answer: Balancing the interconnected obligations
to economic viability, society, and the environment (the triple
bottom line).
◉ What is the percentage of businesses that operate within the
service sector?. Answer: 88 percent
◉ Supporting Goods. Answer: Supplies and equipment that aid in
the development of products and services.
◉ Market Share. Answer: The percentage of sales in a particular
market.
◉ VIRAL. Answer: Value, Inimitable, rare, aptitude, and lifespan.
◉ SWOT Analysis. Answer: Analyzing the internal (strengths and
weaknesses) and external (opportunities and threats)
environments.
,◉ Requirements for developing competitive advantage. Answer:
SWOT, business process, competitive capabilities, and customer
requirements.
◉ Learning Curve. Answer: Continuously improving a product to
make it better and cheaper.
◉ Synergy. Answer: Teamwork where the whole is greater than the
sum of its parts.
◉ Key Processes. Answer: Strategy development, product
development, system development, and order fulfillment.
◉ System. Answer: The process of producing goods and system.
◉ Matching. Answer: Matching strengths to opportunities.
◉ Converting. Answer: Converting weaknesses or threats into
strengths or opportunities.
◉ Productivity. Answer: Output / Input; the goal is achieving more
output given the amount of inputs, thus saving money and reducing
production costs.
, ◉ The First Revolution. Answer: Starting in the late 1800s, increases
in manufacturing productivity reduced the need for physical labor
and enabled a shift towards service-based jobs.
◉ The Second Revolution. Answer: Productivity and efficiency
improvements in manufacturing freed resources for the rapid
expansion of the service industry.
◉ The Third Revolution. Answer: Also known as the post-industrial
era, this revolution began in the 1950s with the development of
computers. This technology has allowed fewer people to do more
work.
◉ Reliability. Answer: The ability to perform dependably and
accurately.
◉ Assurance. Answer: Knowledge and courtesy of employees and
their ability to convey trust and confidence.
◉ Process Redesign. Answer: The complete overhaul of a process to
improve performance.
◉ Percent Change in Productivity. Answer: [(New Productivity - Old
Productivity)/Old Productivity] * 100