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MGMT 309 Exam 2- Wesner Questions With Complete Solutions
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MGMT 309 Exam 2- Wesner Questions With Complete Solutions
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MGMT 309 Exam 2- Wesner Questions With CompleteSolutions
A Service Organization Correct Answers -transforms resources
into intangible outputs (usually intellectual)
Acquisition Correct Answers -the purchase of a firm by a firm
is considerably larger
Action Plan Correct Answers -operationalizes any other plan
Administrative Model Correct Answers A decision-making
model that argues that decision makers
(1) use incomplete and imperfect information,(2) are constrained
by bounded rationality
(3) tend to "satisfice" when making decisions
Advantages of Related Diversification Correct Answers -
reduces economic risk by avoiding dependence on a specific
business or activity
-reduces overhead costs through economies of scale and
economies of scope
-increases overall economic value through complementary
strengths and capabilities synergies gained by managing the set
of businesses together rather than separately
Analyzer Strategy (Miles/Snow) Correct Answers -maintians
current businesses and is somewhat innovative in new
businesses
(ex IBM)
,-trying to maintain current business while also being innovative
in new businesses (combines prospector and defender
Backward Vertical Integration Correct Answers -an
organization conducts activities formerly conducted by it's
suppliers
Barriers to Goal Setting and Planning Correct Answers Major
barriers:
-inappropriate goals
-improper reward system
-dynamic and complex environment
-reluctance to establish goals
-reluctance to change
-constraints
BCG Matrix (Boston Consulting Group Matrix) Correct
Answers -is a method of evaluating businesses relative to the
growth rate of their market and the organization's share of the
market
-stars
-cash cows
-question marks
-dogs
Bounded rationality Correct Answers A concept suggesting
that decision makers are limited by their values and unconscious
reflexes, skills, and habits
, Business-level Strategy Correct Answers The set of strategic
alternatives from which an organization chooses as it conducts
business in a particular industry or market
Capacity Correct Answers -the amount of products, services, or
both that can be produced by an organization
Cash Cows (BCG Matrix) Correct Answers -low growth, high
market share
-low left quadrant
Cellular Layout Correct Answers -physical configuration of
facilities used when families of products can follow similar flow
paths
Chief Executive Officer Correct Answers -Major roles in
planning and implementation
Classical Decision Model Correct Answers -A prescriptive
approach to decision making that tells managers how they
should make decisions
- assumes that managers are logical and rational and that their
decisions will be in the best interests of the organization
coalition Correct Answers -an informal alliance formed to
achieve a common goal
Common Strength Correct Answers a skill or capability held
by numerous competing firms
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