MGMT 480-EXAM 1 QUESTIONS AND ANSWERS
100% VERIFIED
Large-scale, future-oriented plans, for interacting with the competitive environment to
achieve company objectives refers to its - ANSWER strategy
strategic decision are based on what managers _____, rather than what they _____ - ANSWER
forecast; know
in a turbulent and competitive free enterprise environment, a firm will succeed only if it takes
a(n) ______ stance towards change - ANSWER proactive
at office supply, inc. ______ -level managers would be responsible for determining whether the
company should be involved in home furnishing or electronic appliance businesses, where as
_______- level managers would be responsible for determining how the firm will compete in
the selected product-market arena - ANSWER corporate; business
whereas corporate and business-level manager center their attention on ______, managers at
functional-level center their attention on _____ - ANSWER doing the right things; doing things
right
which of these is NOT true about the company mission - ANSWER it provides specific
strategies for front-line managers
, characteristically, the company mission is a statement of all of these except: - ANSWER
measurable targets
basing decisions on a short-term concern for profitability would lead to - ANSWER a strategic
myopia
which of these is not a responsibility of the board of directors - ANSWER to work under the
guidance of the CEO
which of these represent a solution to the agency problem - ANSWER backloaded
compensation for executives
with regards to stakeholders' specific claims vis-a-vis the firm, the claims of various
stakeholders groups - ANSWER often conflict
fair competition is a - ANSWER competitor claim
which of these represents the most basic responsibilities of business - ANSWER economic
______ is the idea that business has a duty to serve society in general as well as the financial
interests of stockholders - ANSWER corporate social responsibility
100% VERIFIED
Large-scale, future-oriented plans, for interacting with the competitive environment to
achieve company objectives refers to its - ANSWER strategy
strategic decision are based on what managers _____, rather than what they _____ - ANSWER
forecast; know
in a turbulent and competitive free enterprise environment, a firm will succeed only if it takes
a(n) ______ stance towards change - ANSWER proactive
at office supply, inc. ______ -level managers would be responsible for determining whether the
company should be involved in home furnishing or electronic appliance businesses, where as
_______- level managers would be responsible for determining how the firm will compete in
the selected product-market arena - ANSWER corporate; business
whereas corporate and business-level manager center their attention on ______, managers at
functional-level center their attention on _____ - ANSWER doing the right things; doing things
right
which of these is NOT true about the company mission - ANSWER it provides specific
strategies for front-line managers
, characteristically, the company mission is a statement of all of these except: - ANSWER
measurable targets
basing decisions on a short-term concern for profitability would lead to - ANSWER a strategic
myopia
which of these is not a responsibility of the board of directors - ANSWER to work under the
guidance of the CEO
which of these represent a solution to the agency problem - ANSWER backloaded
compensation for executives
with regards to stakeholders' specific claims vis-a-vis the firm, the claims of various
stakeholders groups - ANSWER often conflict
fair competition is a - ANSWER competitor claim
which of these represents the most basic responsibilities of business - ANSWER economic
______ is the idea that business has a duty to serve society in general as well as the financial
interests of stockholders - ANSWER corporate social responsibility
