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MGMT 310 FINAL EXAM questions with verified answers
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MGMT 310 FINAL EXAM questions with verified answers
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MGMT 310 FINAL EXAMWhich of the following best defines corporate-level strategy? - correct answer ✔✔The way a company
seeks to create value through the configuration and coordination of multimarket activities
Which of the following statements is true about strategy formulation? - correct answer ✔✔Managers
should engage in environmental scanning on an ongoing basis.
Which of the following is the most important skill of a middle manager? - correct answer
✔✔Interpersonal skills such as motivating and developing teams
A global strategy. - correct answer ✔✔attempts to provide a standardized product to all markets.
Which of the following statements best describes scientific management? - correct answer ✔✔It focuses
on how jobs, work, and incentive schemes could be designed to improve productivity using industrial
engineering methods.
Harry, a top manager of an organization, clearly differentiated the tasks and responsibilities of his
employees. Moreover, he emphasized that top level executives should do the planning and the lower
level executives should execute those plans. Identify the management technique used by Harry. - correct
answer ✔✔Bureaucratic organization structure
Which of the following individuals is a best example of a frontline supervisor? - correct answer ✔✔A
person who focuses on technical issues to ensure that operations are running smoothly
Which of the following statements best describes multinational strategies? - correct answer ✔✔They are
used by firms when it is important to be responsive and sensitive to local needs and tastes.
The factor that distinguishes owners from the board of directors is that. - correct answer ✔✔the owners
maintain legal control of the organization.
, The fourth largest regional trading group, MERCOSUR, comprises the countries of: - correct answer
✔✔Argentina, Brazil, Paraguay, Uruguay, and Venezuela.
Identify a benefit provided by an effective mission statement. - correct answer ✔✔It defines the purpose
of the company.
Which of the following statements about the three pillars of management is true? - correct answer
✔✔The interplay of strategy, organizational design, and individual action operates within a broad
contextual landscape.
A firm's task environment includes. - correct answer ✔✔competitors, suppliers, and customers
A firm's ethical responsibilities are. - correct answer ✔✔behaviors the general population expects
Milton Friedman believed that a firm's exclusive duty is to. - correct answer ✔✔maximize its profits
within the law
The factor that distinguishes leadership from management is that. - correct answer ✔✔leadership is the
ability to drive change through motivation.
Justice helps countries set up rules through political legislation and enforce the rules fairly through court
systems. - correct answer ✔✔Procedural
Which of the following statements best describes a business-level strategy? - correct answer ✔✔The
determination of how a company will compete in a given business and position itself among its
competitors.
An emergent component of a firm's strategy. - correct answer ✔✔makes it flexible and adaptable to
changing environmental conditions.
Which of the following is a direct benefit derived from CSR? - correct answer ✔✔CSR enables a company
to build its brand value.
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