MGT-498-FINAL-EXAM-ANSWERS-DEC-2016-VERSION

MGT 498 FINAL EXAM DEC 2014 VERSION All assets, capabilities, organizational processes, firm attributes, information, knowledge, and so on, controlled by a firm that enable the firm to conceive of and implement strate ...

MGT 498 FINAL EXAM DEC 2014 VERSION All assets, capabilities, organizational processes, firm attributes, information, knowledge, and so on, controlled by a firm that enable the firm to conceive of and implement strategies that improve its efficiency and effectiveness most accurately defines the term _____. resources functions capabilities priorities Which of the following statements is true of corporate culture? Put simply, culture is just how things are done in any organization. Culture proves to be very weak because it cannot inform action without the need for supervision. It consists of behavioral assumptions that are considered inappropriate for organizational members. An organization’s culture, by itself, can be regarded as good. A(n) _____ is a legal structure for organizing a business where the organization is a distinct and separate entity from its owners. corporation proprietorship limited partnership general partnership Walker and Harris are senior research fellows at a global non-profit organization. They are working on a project that studies the growth trend of a multinational corporation, Garcia Inc. When Walker and Harris decide to consolidate their study findings, Walker is of the opinion that Garcia is in the ‘change process’ phase, while Harris believes that the company is in the ‘refreeze’ phase. Which of the following statements, if true, would strengthen Harris’ belief? Garcia Inc. publicly admits that the current situation is not working. Garcia Inc. decides to adapt to its environment and learn new growth-inducing behaviors. Garcia Inc. adopts a trial and error method to decide on the best growth strategy. Garcia Inc. formalizes and institutionalizes its new growth strategies. TrueBiz Corp. follows a system wherein all the activities of the company are directed toward converting parts of a product into an entire finished good. These activities are done in tandem so that a perfected product can be created which can be sold to a prospective customer. This is an example of a _____. pricing chain supplier chain value chain product line Jason, a visually impaired employee of Melony Inc., believes that his workplace has given him independence and self-confidence, thereby increasing his morale. Which of the following has been exemplified by Melony in this scenario? Superordinate goal Social value Legal responsibility Capacity building Which of the following is the main purpose of a strategic management process? Creating a high-level plan that can be implemented without fierce competition and undue risk Ensuring that all employees have managers and supervisors to lead their teams Specifying a high-level plan that an organization will employ to achieve competitive advantage Creating an organization that functions systematically according to its vision, mission, and goals BizTechno Inc. has always retained competitive advantage over its competitors. The company has offered customer satisfaction for many years by providing the best services and benefits for them. The resources, capabilities, and the organizational structure of the organization have also created an increased edge over its competitors. Which of the following does this scenario best illustrate? Employee specialization Value chain Business model Task specialization A tool that measures four broad areas of organizational performance which are financial results, customer goals, internal business processes, and learning and growth is called the _____. metric tool performance indication register manager’s log balance scorecard Ruth works for an electronics manufacturing company, Zeeway Inc., whose employees volunteer over 1 million hours per year on initiatives that include environmental conservation, economic empowerment, and literacy programs. Which of the following best represents Zeeway’s initiative? Competition response strategy Strategic alliance Corporate social responsibility Incremental innovation Rest & Sleep Inc. is a mattress manufacturing firm. By manufacturing related products such as bed covers, comforters and quilts, and pillows, it has gained significant competitive advantage as it has managed to create profits in all these markets as well. Rest & Sleep creates a challenge for the other companies in the market by providing unique value through its customer services and warranties. Which of the following terms best describes what Rest & Sleep Inc. is practicing? Business unit strategy Market penetration Corporate strategy Unrelated diversification Summer Corp., a retailer of consumer electronics, has been experiencing high profits because an increasing percentage of the customers have sufficient disposable income to afford its products. Similar companies have also experienced a boom in customer demand. Which of the following macroeconomic forces is Summer Co