COMMERCE 4PA3 EXAM STUDY GUIDE
NEW SOLUTION MCMASTER
UNIVERSITY ACTUAL EXAM
PAPER(UPDATED 2026) QUESTIONS
WITH ANSWERS GRADED A+
General Management Perspective -CORRECTANSWER having the capacity to
understand and appreciate issues facing individuals placed in the specific role of a
general manager
general manager -CORRECTANSWER someone who has responsibility for all
functional facets of the business
create, capture and distribute value -CORRECTANSWER what is the job of the general
manager?
set direction, create strategy, implement change -CORRECTANSWER 3 fundamental
components of the GM's job?
operating performance, organizational health -CORRECTANSWER 2 sets of measures
for assessment of organizational performance
quadrant 1 -CORRECTANSWER desired state of performance matrix
,quadrant 2 -CORRECTANSWER inward-looking and self-satisfied organization where
people enjoy their work but are performing inadequately in terms of market/financial
standards
quadrant 3 -CORRECTANSWER business is achieving operating objectives at the
expense of organizational health
quadrant 4 -CORRECTANSWER represents a problem in which immediate and
comprehensive action is necessary
colins and porras framework -CORRECTANSWER based on solid research and
provides a practical approach for applying the concept. vision consists on 2 major
components. guiding philosophy includes the core purpose and values of the
organization
core purpose and core values -CORRECTANSWER guiding philosophy 2 elements
values -CORRECTANSWER represent the basic beliefs that govern individual and
group behaviour in an organization
,core purpose -CORRECTANSWER defines organization's reason for being and may
never be fully realized, in contrast to goals and objectives, which are formulated
specifically to be achievable
mission statement -CORRECTANSWER mission is clear and compelling goal that
serves to unify an organization's efforts
feasibility -CORRECTANSWER question of whether you can reasonably expect to get
to your visionary destination cannot be CORRECTANSWERed in the abstract
flexibility -CORRECTANSWER vision must be flexible because circumstances may
change in unanticipated ways
stretch -CORRECTANSWER vision should go further than what is doable with today's
resources/capabilities
managerial strategy -CORRECTANSWER Which of the following is not one of the major
levels of organization strategy?
management preferences -CORRECTANSWER When developing alternatives based
on the Diamond-E drill, this element often provides the most strain on action plans:
, development -CORRECTANSWER Which stage is not included in the product life
cycle?
the balanced scorecard -CORRECTANSWER Kaplan and Norton developed:
strategic planning -CORRECTANSWER approach to undertaking strategic analysis on
a recurring basis and deals with who develops the strategy, how it happens and when it
takes place
strategy -CORRECTANSWER concrete expression of how an organization intends to
operate in service of whatever mission it has designed
strategy -CORRECTANSWER definitive tool for building, communicating and
maintaining direction of the business
goals -CORRECTANSWER set up targets against which progress/performance can be
assessed
product market focus -CORRECTANSWER provides critical direction to people
throughout the organization so they can focus their effort on targeted markets and
products/services
NEW SOLUTION MCMASTER
UNIVERSITY ACTUAL EXAM
PAPER(UPDATED 2026) QUESTIONS
WITH ANSWERS GRADED A+
General Management Perspective -CORRECTANSWER having the capacity to
understand and appreciate issues facing individuals placed in the specific role of a
general manager
general manager -CORRECTANSWER someone who has responsibility for all
functional facets of the business
create, capture and distribute value -CORRECTANSWER what is the job of the general
manager?
set direction, create strategy, implement change -CORRECTANSWER 3 fundamental
components of the GM's job?
operating performance, organizational health -CORRECTANSWER 2 sets of measures
for assessment of organizational performance
quadrant 1 -CORRECTANSWER desired state of performance matrix
,quadrant 2 -CORRECTANSWER inward-looking and self-satisfied organization where
people enjoy their work but are performing inadequately in terms of market/financial
standards
quadrant 3 -CORRECTANSWER business is achieving operating objectives at the
expense of organizational health
quadrant 4 -CORRECTANSWER represents a problem in which immediate and
comprehensive action is necessary
colins and porras framework -CORRECTANSWER based on solid research and
provides a practical approach for applying the concept. vision consists on 2 major
components. guiding philosophy includes the core purpose and values of the
organization
core purpose and core values -CORRECTANSWER guiding philosophy 2 elements
values -CORRECTANSWER represent the basic beliefs that govern individual and
group behaviour in an organization
,core purpose -CORRECTANSWER defines organization's reason for being and may
never be fully realized, in contrast to goals and objectives, which are formulated
specifically to be achievable
mission statement -CORRECTANSWER mission is clear and compelling goal that
serves to unify an organization's efforts
feasibility -CORRECTANSWER question of whether you can reasonably expect to get
to your visionary destination cannot be CORRECTANSWERed in the abstract
flexibility -CORRECTANSWER vision must be flexible because circumstances may
change in unanticipated ways
stretch -CORRECTANSWER vision should go further than what is doable with today's
resources/capabilities
managerial strategy -CORRECTANSWER Which of the following is not one of the major
levels of organization strategy?
management preferences -CORRECTANSWER When developing alternatives based
on the Diamond-E drill, this element often provides the most strain on action plans:
, development -CORRECTANSWER Which stage is not included in the product life
cycle?
the balanced scorecard -CORRECTANSWER Kaplan and Norton developed:
strategic planning -CORRECTANSWER approach to undertaking strategic analysis on
a recurring basis and deals with who develops the strategy, how it happens and when it
takes place
strategy -CORRECTANSWER concrete expression of how an organization intends to
operate in service of whatever mission it has designed
strategy -CORRECTANSWER definitive tool for building, communicating and
maintaining direction of the business
goals -CORRECTANSWER set up targets against which progress/performance can be
assessed
product market focus -CORRECTANSWER provides critical direction to people
throughout the organization so they can focus their effort on targeted markets and
products/services
