Mgt 301 exam 1 - Study guides, Class notes & Summaries

BMGT 301 EXAM 1 UMD Questions And Answers 2024

BMGT 301 EXAM 1 UMD SOLVED 100% CORRECT!!

Why is it so important to carefully manage inventory? Where is inventory in the SC? correct answers Inventory control is important in maintaining the right balance of stock in your warehouses. Inventory is included in operations. Reasons to avoid inventory correct answers 1. requires additional spaces -machines 2. opportunity cost of capital- expanding operations (locations, labor, etc.) 3. spoilage + shrinkage- food, medicine, etc. 4. obsolescence: old technology- pagers, landline, etc. ...

Christine Poon, Vice president of Johnson and Johnson, said that the habit of daily news reading gives students 5 benefits: correct answers 1. The world opens up to you 2. You understand the complexities (messiness, paradox, ambiguity) of the world. 3. You understand where you stand- your place in the world, your vision, mission and passion. 4. You understand your own belief systems better. 5. You become a more well-rounded human being, and that is exactly what the world needs. (Two force...

Sustainable Competitive Advantage - Answer-Financial performance that consistently outperforms industry averages Operational Effectiveness - Answer-Performing the same tasks better than rivals perform them. Fast Follower Exists when? - Answer-1. Savvy rivals watch a pioneer's efforts 2. Learn from their successes and missteps 3. Then enter the market quickly with a comparable or superior product at a lower cost 4. Before the first mover can dominate. Strategic Positioning - Answer-...

strategy - Answer-a set of decisions made to achieve a competitive advantage competitive advantage - Answer-the ability of a firm to outperform its competitors in financial measures - can be measured with accounting profits or stock price operational effectiveness - Answer-performing the same tasks better than rivals do -lower cost strategic planning - Answer-performing different tasks than your rivals or performing the same tasks in a different way -higher value/revenue straddlin...

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MGT 301 EXAM 1 questions and 100% correct answers

MGT 301 (EXAM 1) Question and answers rated A+ 2023management attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizational resources planning defining performance goals and determining how to attain these goals organizing assign tasks, grouping tasks into departments, and allocating resources to these departments leading use of influence to motivate employees to achieve the organization's g...

MGT 301 (EXAM 1) With Complete Solutions 2024