MGT 499 Exam 1 UKY(Completely solved)
What is the reason for the price increase of glasses in the last decade? correct answers There is 1
company, Luxottica.
Firms that adopt design thinking for a new product adopt a product-oriented vision statement.
T or F? correct answers F, correct answer: customer-oriented vision statement
Firms are likely to rely on top-down management during high uncertainty.
T or F? correct answers F, correct answer: scenario planning
Stakeholders impact analysis is a decision tool designed to help consumers express their concerns
effectively by examining the power and legitimacy of large, established firms.
T or F? correct answers F, correct answer: we analyze power and legitimacy of stakeholders.
In the PESTAL framework for evaluating a firms external environment, _______ primarily captures
population characteristics related to age, gender, family size, ethnicity, sexual orientation, and religion.
correct answers Sociological factors
Economic factors in PESTAL model include growth rate, unemployment rate, and different demographic
factors.
T or F? correct answers F, correct answer: demographic factors belong to Sociological factors.
Firms operating in perfect competition are price takers.
T or F? correct answers T
Luxottica's acquisition of Oakley made the eyewear manufacturing industry more fragmented.
T or F? correct answers F, correct answer: concentrated
Suppliers are powerful when they depend heavily on their buyers industry for their revenues.
T or F? correct answers F
, In the streaming video industry, Disney launching Disney+ is an example of forward integration.
T or F? correct answers T
Buyers are powerful when their switching cost for suppliers is low.
T or F? correct answers T
Strategy is about correct answers performance
Strategy is not correct answers tactics
Strategy is the correct answers intended plan for the organization
Vision correct answers what an organization wants to achieve ultimately (aspiration)
Mission correct answers what an organization actually does - products & services
Values correct answers A statement of key values that an organization is committed to
Major Goals correct answers The measurable desired future state that an organization attempts to realize
Strategy involves correct answers leadership
Strategy matters correct answers - Competence can be obsolete over time
- Diffusion of innovation and rapid technological change
=> Increasing need to learn strategy to create/sustain competitive advantage over time
Strategy correct answers Is a set of goal-directed actions a firm takes to gain and sustain superior
performance relative to competitors
Strategic management correct answers Is an integrative management field that combines analysis,
formulation, and implementation in the quest for competitive advantage
What is the reason for the price increase of glasses in the last decade? correct answers There is 1
company, Luxottica.
Firms that adopt design thinking for a new product adopt a product-oriented vision statement.
T or F? correct answers F, correct answer: customer-oriented vision statement
Firms are likely to rely on top-down management during high uncertainty.
T or F? correct answers F, correct answer: scenario planning
Stakeholders impact analysis is a decision tool designed to help consumers express their concerns
effectively by examining the power and legitimacy of large, established firms.
T or F? correct answers F, correct answer: we analyze power and legitimacy of stakeholders.
In the PESTAL framework for evaluating a firms external environment, _______ primarily captures
population characteristics related to age, gender, family size, ethnicity, sexual orientation, and religion.
correct answers Sociological factors
Economic factors in PESTAL model include growth rate, unemployment rate, and different demographic
factors.
T or F? correct answers F, correct answer: demographic factors belong to Sociological factors.
Firms operating in perfect competition are price takers.
T or F? correct answers T
Luxottica's acquisition of Oakley made the eyewear manufacturing industry more fragmented.
T or F? correct answers F, correct answer: concentrated
Suppliers are powerful when they depend heavily on their buyers industry for their revenues.
T or F? correct answers F
, In the streaming video industry, Disney launching Disney+ is an example of forward integration.
T or F? correct answers T
Buyers are powerful when their switching cost for suppliers is low.
T or F? correct answers T
Strategy is about correct answers performance
Strategy is not correct answers tactics
Strategy is the correct answers intended plan for the organization
Vision correct answers what an organization wants to achieve ultimately (aspiration)
Mission correct answers what an organization actually does - products & services
Values correct answers A statement of key values that an organization is committed to
Major Goals correct answers The measurable desired future state that an organization attempts to realize
Strategy involves correct answers leadership
Strategy matters correct answers - Competence can be obsolete over time
- Diffusion of innovation and rapid technological change
=> Increasing need to learn strategy to create/sustain competitive advantage over time
Strategy correct answers Is a set of goal-directed actions a firm takes to gain and sustain superior
performance relative to competitors
Strategic management correct answers Is an integrative management field that combines analysis,
formulation, and implementation in the quest for competitive advantage
