Question 1

An operational plan is

Accepted Answer

An operational plan is a detailed plan that outlines how an organization will achieve its goals and objectives in the short term, usually within a year. Therefore, the best choice is A.

Question 2

Organizational_____ involves implementation of a different business or cultural path for an organization.

Accepted Answer

Organizational change involves implementing a different business or cultural path for an organization. Culture, control, rightsizing, and downsizing may be elements or outcomes of organizational change, but they do not encompass the full scope of the process.

Question 3

A top salesperson "just knows how to sell" but has a difficult time communicating how she does it.Her ability to sell is an example of _____.

Accepted Answer

The fact that the salesperson has a difficult time communicating how she does it suggests that her selling ability is based on tacit knowledge - knowledge that is difficult to articulate or transfer to others.

Question 4

A rule that all employees in the organization (including the CEO)must fly coach when they travel on commercial airlines represents a consistent _____ control within an organization.

Accepted Answer

This rule represents a bureaucratic control within the organization. Bureaucratic control relies on rules, policies, and procedures to regulate behavior and achieve consistency in decision-making. This rule applies to all employees, including the CEO, and enforces a consistent standard for air travel.

Question 5

Of the following,which is NOT true about knowledge management and systems?

Accepted Answer

Absorptive capacity refers to an organization's ability to recognize, assimilate and apply new knowledge, not systems of rules and regulations within a business.

Question 6

The large oil exploration company,Anadarko Petroleum Corporation,takes a(n)______ toward strategy formulation,placing a very clear emphasis in strategy formulation upon how its business decisions will help deliver and ongoing and competitive rate of return to its owners.

Accepted Answer

The emphasis on strategy formulation that Anadarko Petroleum Corporation places is towards delivering an ongoing and competitive rate of return to its owners, i.e., shareholders. Therefore, the best choice is D, shareholder.

Question 7

Starbucks Corporation takes more of a _____ approach toward strategy formulation.

Accepted Answer

Starbucks takes a stakeholder approach to strategy formulation, meaning it considers the interests of multiple stakeholder groups (such as customers, employees, suppliers, and the community) in its decision-making process, rather than solely focusing on maximizing profits or shareholder value.

Question 8

Hershey Corporation has assiduously expanded and extended its business by developing new products and increasing global reach,but it has done so in a very careful manner,avoiding undue risks and protecting its existing business operations.This is an example of Miles and Snows' _____ typology.

Accepted Answer

Hershey Corporation's strategy of expanding and developing new products while carefully avoiding undue risks and protecting its existing operations aligns with the characteristics of the "analyzer" typology in Miles and Snow's framework. Analyzers maintain a balance between stability and innovation, exploring new opportunities while ensuring the core business remains secure.

Question 9

Altria Group,Inc.,may feel that the importance of "fiscal discipline" in its stated mission mandates that it reduce its operations and concentrate upon making its existing U.S.-based Marlboro operations as efficient and profitable as possible.In short,Altria will be most concerned with maintaining its existing strategic position.This is an example of Miles and Snows' _____ typology.

Accepted Answer

According to the Miles and Snow typology, defenders are companies that concentrate on maintaining their current strategic position and focus on reducing costs and improving efficiency. Altria Group's decision to reduce operations and concentrate on making its existing U.S.-based Marlboro operations efficient and profitable is consistent with the characteristics of a defender.

Question 10

Las Vegas hotelier MGM Mirage recently spent $8.5 billion on a new resort that adds almost 5,000 new rooms to a market that some argue is already saturated.Which of the following output controls and measurement is MGM Mirage using?

Accepted Answer

MGM Mirage is using growth as an output control and measurement by investing $8.5 billion in a new resort, which adds almost 5,000 new rooms to the market.

Question 11

"In everything we do,we're driven by a common mission: saving people money so they can live better." This is an example of Wal-Mart's _____.

Accepted Answer

The statement provided states a purpose and goal, which defines Wal-Mart's mission statement.

Question 12

Knowledge that is codifiable and easy to communicate or write down is called _____ knowledge.

Accepted Answer

Explicit knowledge is knowledge that can be easily communicated or written down. It is codifiable and can be easily shared and transferred within an organization or between individuals. This type of knowledge typically resides in documents, manuals, procedures, and other types of formalized systems.

Question 13

To make sure it has enough employees on hand during the busy holiday season,Target plans to hire thousands of temporary,seasonal help for the final three months of the calendar year.This is an example of a(n)_____ plan.

Accepted Answer

This is an example of an operational plan, which involves short-term, specific actions and processes to address immediate needs, such as hiring temporary staff for the holiday season.

Question 14

If Dunkin Donuts (DD)were to follow the actions of Starbucks and copy all of their strategies and pricing,DD could be described as a(n)_____.

Accepted Answer

A reactor is a company that only responds to changes made by competitors and does not have a clear strategy of their own. If DD were to copy all of Starbucks' strategies and pricing, they would be a reactor rather than a defender (who focuses on maintaining their own market share) or a prospector (who takes risks to find new markets). Analyzer and coordinator do not apply in this scenario.

Question 15

For generations there has been a norm of "highest quality in journalism" at the New York Times newspaper.In this context,the newspaper's reporters don't require close supervision to do great journalistic work.This is an example of the organizational _____ at the New York Times.

Accepted Answer

The sentence suggests that the New York Times has a culture of valuing and striving for high-quality journalism. This culture has been passed down through generations, indicating that it is deeply rooted in the organization's values and beliefs. The other options, such as background, traditions, customs, and mores, do not fully capture the idea of a shared set of values and practices within an organization.

Question 16

Determining whether to adopt a shareholder or stakeholder orientation is a major ______ for a business.

Accepted Answer

Deciding whether to prioritize the interests of shareholders (those who own stock in the company) or stakeholders (anyone who is affected by the actions of the company, including employees, customers, and the community) is a strategic decision that will shape the overall goals and values of the business.

Question 17

In the banking industry,a particular bank's efficiency ratio is a closely monitored metric.If one bank can achieve a profit of $2 million per year with 90 employees,and another bank needs to employ 200 employees to achieve the same level of profits,the first bank's employees are more efficient than the second.Which of the following output controls and measurement is the banking industry using?

Accepted Answer

The banking industry is using productivity as an output control and measurement by comparing the number of employees required to achieve a certain level of profit. The bank with fewer employees and the same level of profit is considered more efficient and productive.

Question 18

ABC Manufacturing focuses on implementing a basic market strategy of concentrating upon existing operations and protecting their home turf.ABC can be described as a _____.

Accepted Answer

ABC Manufacturing's focus on protecting their existing operations indicates a defender strategy, which emphasizes maintaining a stable position in the market and defending their current market share.

Question 19

In a(n)_______,a global business explains why it exists and what it plans to accomplish.

Accepted Answer

A mission statement is a formal statement that explains the purpose and goals of an organization. It is a key part of strategy formulation as it outlines the reason for the organization's existence and its intended direction. A mission statement is a concise and clear statement that communicates the organization's purpose to its employees, customers, and other stakeholders.

Question 20

_____controls involve establishing specific goals given metrics and then measuring to what extent these goals are being achieved at certain time intervals.

Accepted Answer

This question is referring to output controls, which involve establishing specific performance goals and metrics and then measuring and evaluating progress at certain time intervals. Interpersonal and intrapersonal controls refer to individual behaviors or interactions, while organic controls refer to the natural systems or processes within an organization. Input controls involve managing resources and raw materials before they are used in the production process.

Quiz 7: Entry Strategies in Global Business