WPC 480 Final Exam Questions with Verified Answers
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Course
WPC 480
Institution
WPC 480
Soil and Sod Gardening Supplies has a vision of helping every American learn how to grow their own food. Its management team recently unveiled the mission statement "A garden at every home." What is wrong with this mission statement? - Answer-It does not indicate how the company will accomplish its...
WPC 480 Final Exam Questions with
Verified Answers
Soil and Sod Gardening Supplies has a vision of helping every American learn how to
grow their own food. Its management team recently unveiled the mission statement "A
garden at every home." What is wrong with this mission statement? - Answer-It does not
indicate how the company will accomplish its goals.
Bubble Buddy is a company that manufactures hot tubs. Which of the following best
illustrates a product-oriented vision for Bubble Buddy? - Answer-to be the pioneering
manufacturer of hot tubs
In the AFI strategy framework, strategy analysis primarily involves - Answer-evaluating
the effects of internal resources and core competencies on a firm's potential to gain and
sustain a competitive advantage.
During an AFI planning session, the managers of the Fukuhara Motorcycle Corporation
decided to place various stages of production in different countries in order to
implement the strategy of cutting overhead costs. By doing this, what issue did the firm
address? - Answer-organizational design
Which of the following summarizes the difference between a firm's vision and mission? -
Answer-A vision states what a firm wants to accomplish; a mission states how a firm
plans to accomplish this vision.
Carlos is the manager of a graphic design firm, and he relies on a top-down strategic
management approach to maintain tight control over the activities of his employees. The
company has recently started to lose market share to its more innovative competitors,
and Carlos wants to encourage his employees to start contributing to the strategy
formulation process to make the company more competitive. Which of the following
steps should Carlos take? - Answer-Designate Friday afternoons as time for employees
to pursue outside interests loosely related to the business.
BlueStainless Corp. has been able to gain and sustain a competitive advantage due to
its strong relationship with its employees, customers, suppliers, and local communities.
The company believes in lifetime employment and ensures that its employees grow
along with the company. Investors are more than satisfied with the returns on their
investments. Also, 3 percent of the company's profit is spent on community
development. With initiatives like these, customers feel privileged to associate
themselves with BlueStainless products. This scenario best illustrates the
implementation of a - Answer-stakeholder strategy.
In the pyramid of corporate social responsibility, ________ responsibilities are the
foundational building block. - Answer-economic
, Which of the following scenarios best illustrates a good stakeholder strategy? - Answer-
PA Corp. distributes only 40 percent of its annual profit after taxes to shareholders,
while the remaining is invested for further research, and distributed among employees
and the local community.
Which of the following is an assumption that top-down strategic planning rests on? -
Answer-We can predict the future from the past.
Eon Inc., Electravia Inc., and FC Inc., the three largest firms in the consumer electronics
industry, hold close to 85 percent of the industry's market share. These companies
mainly compete against each other by providing unique features in their products rather
than pricing them low. These firms are interdependent, and each firm must consider the
strategic actions of its competitors. Which of the following industry competitive
structures does this scenario best illustrate? - Answer-oligopoly
The primary objective of Porter's five forces model is to - Answer-understand the profit
potential of industries.
Which of the following is a drawback of Porter's five forces model? - Answer-Managers
cannot determine the changing speed of an industry or the rate of innovation.
Hammer and Nails, Local Motion, DIY Palace, and Handy Paradise are all hardware
stores that compete against each other through everyday low pricing and discounts on
bulk purchases. All four stores cater to the needs of highly price-sensitive customers.
Thus, together these stores form a - Answer-strategic group.
In 2008, BlackBerry's market cap peaked at $75 billion. By 2017 this valuation had
fallen more than 90 percent, to $3.9 billion. BlackBerry fell victim to two important
PESTEL factors in its external environment: sociocultural and technological. How did
technology contribute to BlackBerry's decline? - Answer-BlackBerry failed to change its
device into one that could perform multiple tasks effectively
How are the critical assumptions of the resource-based model of a firm fundamentally
different from the way in which a firm is viewed in the perfectly competitive industry
structure? - Answer-In perfect competition, all firms have access to the same
capabilities, whereas in the resource-based model, resource differences exist between
firms in the same industry.
Dynamic capabilities are especially relevant for surviving and competing in markets that
- Answer-shift quickly.
The "Natural Nourishment" granola bars manufactured by Global Good Foods have
been the top-selling granola bars in the market. Though the market for granola bars is
flooded with competitors, Global Good has been able to maintain its market position for
a long time. This is mainly attributed to the pleasant texture of its granola, which comes
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