NURSING TEST

MBA 705 Chapter 6 Questions and Answers correct The first step in formulating an organization's strategy is analysis of the functional strategies. FALSE Firms often seek to reduce risk by operating in a single industry False Every healthy firm should pursue a retrenchment strategy from time to time False As opposed to external growth, internal growth enables the firm to grow more quickly. False A merger is a form of a acquisition whereby one firm purchases ano...

MBA 705 CH 3 Questions and answers correct Macroenvironment consists of the larger societal forces that affect the microenvironment—demographic, economic, natural, technological, political, and cultural forces. Macroenvironmental forces aka PEST Political-Legal forces Economic & Ecological forces Social forces Technological forces Macroenvironmental forces affect Industries and individual firms within industries. The focus at this stage of analysis is on the industry...

MBA 705 LSUS Exam 2 Questions and Answers Analysis of the Macroenvironment Macroenvironmental forces affect industries and individual firms within industries. The focus at this stage of analysis is on the industry, not the firm. Certain forces may be more prominent in some industries than in others. Macroenvironmental Forces Political-Legal forces Economic forces Social forces Technological forces Collectively, these forces are sometimes referred to by the acronym PEST. Soc...

MBA 705 Chapters 10 Questions and Answers correct cultural, structural, leadership, before, after Effective strategy implementation requires managers to consider a number of issues, including 1 2 3 These considerations should be made ___ a strategic alternative is selected and then detailed ___ a strategy is formulated. organizational structure, formal, reporting, work, framework, execution ____ the ____ means by which work is coordinated in an organization. -dictates ___ relati...

LSUS I MBA 705 I Final (ch. 7-12) I Dr. Heller (full set) Questions and Answers correct T/F: Strategic control should be ongoing and occur throughout the strategic management process True T/F: The PIMS program is a government-sponsored effort to improve strategic planning effectiveness in the US False. PIMS is a database that contains quantitative and qualitative info on the performance of thousands of firms & 5k+ business units T/F: Corrective action should usually, but not...

MBA 705 - Minsun Kim Exam 3 Questions and Answers correct Corporate-level strategy highest level of decision formulated by the highest level of management team (CEO and top managers) of the company CEOS and top managers ask questions such as - which business unit(s) should we have? -How should we support and enhance the value of each business as a whole? Business Unit Managers ask questions such as -How individual business units compete and win in their own individual market? ...

MBA 705 Module 3 Questions and Answers correct One of the two methods of internal evaluation Resource-Based View and VRIO Framework Intangible Resources These are nurtured and developed by firms to achieve long-term competitive advantage. Value Chain Internal activities a firm engages in when transforming inputs into outputs to create value for a customer. Primary Activities Service Adverse Selection Inability of shareholders to identify the precise competencies...

MBA 705 CH 8&9 Questions and Answers correct Capital-Labor Substitution An organization's ability to substitute labor for capital or vice versa as production increases. Experience Curve The reduction in per-unit costs that occur as an organization gains experience producing a product or service. It's based on three underlying concepts: (1) learning, (2) economies of scale, and (3) capital-labor substitution possibilities Functional Strategies The strategies pursued by eac...

MBA 705 EXAM 3 ERIN MCLAUGHLIN Questions and Answers correct Strength-Opportunity "Offensive" alternatives, utilize a strength to address an opportunity. Weaknesses-Threat "Defensive" alternatives, eliminate or minimize a weakness in order to minimize the effect of a threat. Strength-Threat Utilize a strength to minimize the effect of a threat. Weakness-Opportunity Shore up a weakness to enable the organization to take advantage of an opportunity. I...

MBA 705 CH 2&3 Questions and Answers correct False T/F external environment analysis includes an examination of industry forces False T/F External environment analysis should first occure from the perspective oft he organization True T/F Firms operating in mulitple distinct markets may be affected in different ways by macroenvironment forces in each market false T/F Macroenviroment forces are assessed in terms of their direct effects on a particular firm False ...

MBA 705 Exam 4 Questions and Answers correct Organizational structure the formal means by which work is coordinated in an organization Should a firm's strategy follow its structure or should structure follow strategy? Most practitioners recognize that strategy and structure are interdependent In the short term, strategic managers should evaluate and consider the firm's structure when crafting the strategy, recognizing that modifying the structure is rarely easy or cost free ...

MBA 705 Dr Heller Module 5 Questions and Answers correct S (Internal) W (Internal) O (External) T (External) Strengths Weaknesses Opportunities Threats What is the purpose of SWOT? To organize research and perspectives into a useful framework for strategic decision-making Gap Analysis Identifies the distance b/t a firm's current position and its desired position with regard to an internal weakness. When possible, a firm should take action to close the gap, especially w...

MBA 705 – McLaughlin Questions and Answers correct T/F: A strategy seeks to develop and sustain competitive advantage. A strategy does seek to develop and sustain competitive advantage T/F: strategic management refers to formulating successful strategies for an organization. Strategic management is formulating successful strategies for organizations. T/F: Each step in the strategic management process is independent so that changes in one step will not substantially affect othe...

MBA 705 - Fowler - Weeks 5-6 Questions and Answers correct Support corporate- and business-level strategies at the business unit's functional levels, such as marketing, finance, production, purchasing, HR, and IS. Functional Strategies Often used to refer to strategic considerations at the functional level, with a day-to-day, practical connotation. Tactics Determines the effectiveness of the unit's business- and firm-level strategies, with interdepartmental impact on opera...

MBA 705 Heller exam 1 Questions and Answers correct T/F: A strategy seeks to develop & sustain competitive advantage. True. Strategy refers to top management's plan to develop & sustain competitive advantage, so that the org's mission is fulfilled T/F: Strategic management refers to formulating successful strategies for an org. False: Strategic management considers more than just strategy, includes top management's analysis of the environment in which the org operates prior ...

MBA 705 Final Exam Questions and answers correct What does organizational structure refer to? The formal means by which work is coordinated in an organization. The structure exists to provide control and coordination simple structure each employee performs multiple tasks and the owner is involved in all aspects of the business what does vertical growth refer to an increase in the length of the organizations hierarchy (levels of management) Span of control the number of ...

MBA 705 - Chapter 4 Practice Questions and Answers correct T/F: in many respects, social forces are the drivers of consumer markets true T/F: the expansion of a religion in an emerging country is an example of a social force true T/F The unconscious reference to one's own cultural values as a standard of judgment is known as cultural bias. false T/F: commoditization refers to the ability to individualize product and service offerings to meet specific buyer needs fals...

LSUS MBA 705 - Minsun Kim exam 1-Module 2 part 1External (#1) Questions and Answers correct What is the PESTEL Framework? 6 segments of general environment -Use to identify how these factors influence industries and the firms within them P - Political E- Economic S- Socio- Cultural T - Technological E- Environmental L - Legal Political Factors -Result from processes and actions of government bodies that can influence the decisions and behaviors of firms. -incl...

MBA 705 Exam 3 Questions and Answers correct Capital-Labor Substitution: An organization's ability to substitute labor for capital or vice versa as production increases. Experience Curve: ncreases. Experience Curve: The reduction in per-unit costs that occur as an organization gains experience producing a product or service. Functional Strategies: The strategies pursued by each functional area of a business unit, such as marketing, finance, or production. Human Capita...

MBA 705 - Chapter 2 Practice Questions and Answers correct T/F: A firm always operates in a single, distinct industry. false T/F: all industries follow the stages of the industry life cycle model false T/F: The likelihood that new firms will enter an industry is contingent on the extent to which barriers to entry have been erected. true T/F: higher capital requirements for entering an industry ultimately raise the average profitability within that industry true T...