when one party delegates decision-making responsibility to a second party for compensation it's called? - Answer-agency relationship
Elected individuals whose primary responsibility is to act in the owners' best interest by formally monitoring and controlling the firm's top-level managers is the...
WPC 480 Quiz Exam Questions and
Answers
when one party delegates decision-making responsibility to a second party for
compensation it's called? - Answer-agency relationship
Elected individuals whose primary responsibility is to act in the owners' best interest by
formally monitoring and controlling the firm's top-level managers is the definition for -
Answer-board of directors
In the united states ________ are seen as the most important stakeholders - Answer-
shareholders
The three pillars of corporate governance taxonomy are - Answer-board of directors,
executive compensation and shareholder's rights
The complex set of ideologies, symbols, and core values that are shared throughout a
firm that influence how the firm conducts business - Answer-organizational culture
when a firm is attempting to break into an international market it easily established
alliances in that foreign market and was able to successfully expand with this - Answer-
social capital
Support from _____________________________ is crucial to successfully
implementing a new organizational culture - Answer--top management
-CEO
-middle level managers
What would happen to a company without corporate governance? - Answer-The
company will fail because of legal issues, lack of strategic focus, and risky behavior
A telecommunications company is impacted by government regulations of the wireless
spectrum, cell tower locations, and internet accessibility. The company decides to hire a
lobbying firm to represent its interests with the U.S. government, specifically the FCC,
FTC and Congress. This is an example of a company managing which forces in the
macro-environment? - Answer-political and legal forces
What is the term that is concerned with a population's size, age structure, geographic
distribution, ethnic mix, and income distribution? - Answer-demographic segment
suppliers are most powerful when there - Answer-would be switching costs if it went to a
different supplier because the current supplier's products are unique
, The likelihood of entry of new competitors is affected by - Answer-barriers to entry and
expected retaliation of current industry organizations
In the resource-based model of above-average returns, a core competency is - Answer-
Something that gives a company an edge over the competition, something that the
company possesses that its competitors do not have, and something that is too difficult
or costly for competitors to copy or produce an alternative
An intangible resource is one that - Answer-Is rooted deeply in the company history, is
gathered over time, and is difficult for competitors to analyze or imitate
all core competencies have the potential to become - Answer-rigidities
A company that is analyzing its value chain to discover its value-creating activities.
While formulating its strategy the firm will - Answer-Consider the operational functions
and support functions to determine which activities contribute the greatest value in the
product or service being sold to customers
Fed Ex and United Postal Service compete in many of the same markets and have
similar types of truck and airplane fleets, similar levels of financial capital and other
similarities. These tangible and intangible resources between the two firms describes
the: - Answer-resource similarity
A firm that responds to the first mover's competitive action, typically through imitation, is
called a - Answer-second mover
which characteristic best describes tactical actions - Answer-relatively easy to
implement and reverse
Apple quickly launches their next wave of innovative iPhones in order to keep up with
competitors like Samsung and Microsoft. Imitation is rapid and inexpensive in the
smartphone industry. Apple is market of what kind of market? - Answer-fast cycle
All of the following are considered business-level strategies - Answer-•Cost leadership
•Focused differentiation
•Integrated cost leadership
•Differentiation
Market segmentation is a part of all business-level strategies and is used to determine
which customers to serve. This is most critical for which business-level strategies -
Answer-Focused differentiation and focused cost leadership strategies
Research indicates that a competitive advantage in logistics is a primary strategy that
creates the most value for a cost leadership strategy - Answer-supply chain is the value
creating activity
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