MGMT 300 Exam 2 || SOLVED QUESTIONS WITH PASSED SOLUTIONS!!
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Course
MGMT 300
Institution
MGMT 300
Uncertainty correct answers goals known, info about alternatives and future events is incomplete
Risk correct answers Known: decision, goals, info
Unknown: future outcome associated with each alternative are subject to chance of loss or failure (multiple colleges)
Ambiguity correct answers ...
MGMT 300 Exam 2 || SOLVED QUESTIONS WITH
PASSED SOLUTIONS!!
Uncertainty correct answers goals known, info about alternatives and future events is
incomplete
Risk correct answers Known: decision, goals, info
Unknown: future outcome associated with each alternative are subject to chance of loss or
failure (multiple colleges)
Ambiguity correct answers Unknown: goals, problems, alternatives, info
Question Marks correct answers Low market share, high business growth rate. New ventures
risky, few become starts and other divested
Cash cows correct answers High market share, low business growth rate. Milk to finance
question marks and stars
Quasi rationality correct answers combining intuitive and analytical thought
Political model correct answers Coalition: informal alliance among managers who support
specific goals (Without a coalition, powerful groups can derail the decision making process)
Assumptions: orgs diverse, goals, value, info ambiguous and incomplete, no time, no
resources, no mental capacity to identify all info to prob, bargaining and discussion for
decisions
Bottom up approach correct answers encouraging flow of ideas from lower levels
Cooperation characteristics correct answers 1. Work with customers to understand needs and
develop solutions
2. Use new tech effectively
3. Share new product development process supported by top management
4. Members from key departments cooperate in development of new product or service
5. Cross- functional team guides project from beginning to end
Horizontal coordination correct answers Horizontal linkage model- research, sales, and
marketing simultaneously contribute to new products and techs
Open innovation correct answers search for and commercialize new ideas beyond the org and
industry
Crowdsourcing correct answers tap into ideas globally
Innovation by acquisition correct answers buy startup companies
Idea champions correct answers person who sees the need for and champions productive
change within the org
, New venture teams correct answers unit separate from the rest of the org that is responsible
for developing and initiating a major innovation
Skunkworks correct answers separate, small, informal, autonomous, secretive group that
focuses on breakthrough ideas for the business
New venture fund correct answers provides resources for new ideas, products, or businesses
Core competence correct answers something the org does well in comparison to its
competitors (in n out)
Build synergy correct answers then the parts of the org interact to produce something greater
than the sum of parts
Deliver value correct answers perceived benefits over cost paid (Capable TV bundles)
Globalization strategy correct answers treats world as a single global market standardized
global product and advertising strategies
High Need for global integration and Low Need for national responsiveness
Export strategy correct answers domestically focused, exports a few domestically produced
products to selected countries
Low Need for global integration and Low Need for national responsiveness
Transnational strategy correct answers seeks to balance global efficiencies and local
responsiveness, combines standardization and customization for product and advertising
strategies
High Need for global integration and High Need for national responsiveness
Multidomestic strategy correct answers handles markets independently for each country,
adapts products and advertising to local tastes and needs
Low Need for global integration and High Need for national responsiveness
Porter's 5 Forces: Potential new entrants correct answers Capital requirements
Economies of scale
Porter's 5 Forces: Bargaining power of suppliers correct answers Availability of substitute
suppliers
concentration/ monopoly of suppliers
Porter's 5 Forces: Threat of substitute products correct answers Substitutes can change
customer loyalty
Internet also has changed availability
Porter's 5 Forces: Bargaining power of buyers correct answers Customers are more informed
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