AGEC 440 Final Exam Questions With
Correct Answers
Which of the following is NOT included in the concept of strategy?
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a. strategy is a postulate or a theory of how to compete successfully
| | | | | | | | | | | |
b. strategy is success oriented
| | | |
c. strategy is an allocation of resources that maintains or improves firm
| | | | | | | | | | | |
performance
d. Strategy includes anticipating the competitive moves of a firm's
| | | | | | | | | |
opponents
e. A good strategy is one that addresses the needs of the market, even if
| | | | | | | | | | | | | |
the firm does not have the assets (i.e. strengths) to pursue them -
| | | | | | | | | | | | | |
CORRECT ANSWER✔✔-E |
Which of the following is NOT considered to be a distinctive
| | | | | | | | | | |
characteristic of the Food and Agribusiness system?
| | | | | |
a. Food is intertwined with culture, domestically and internationally
| | | | | | | | |
(meatball wars) |
b. Uncertainty in the biological basis of crop and livestock production
| | | | | | | | | | |
(weather and safe food) | | |
c. Government intervention (i.e. subsidies and price supports) ($15
| | | | | | | | |
wage)
,d. The agribusiness system is driven by a large number of small scaled
| | | | | | | | | | | | |
producers
- should be fewer but largely competitive
| | | | | |
e. Public and private investment in Ag. Research (prices inc even private)
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- CORRECT ANSWER✔✔-D
| | |
Which of the following statements best describes educational training in
| | | | | | | | |
Agribusiness management?
| |
a. Agribusiness is concerned with decisions made at the industry level
| | | | | | | | | | |
and therefore Economics- in terms of its understanding of markets- is
| | | | | | | | | | |
the cornerstone of basis for agribusiness education.
| | | | | |
b. Economic theory has been criticized for sacrificing relevance for
| | | | | | | | | |
abstract vigor. Therefore, economics has no value in dealing with "real
| | | | | | | | | | |
world" business problems. | |
c. Problems in agribusiness are diverse and complex and therefore
| | | | | | | | | |
economics alone is not likely to be sufficient with dealing with
| | | | | | | | | | |
Agribusiness problems. |
d. None of the above. - CORRECT ANSWER✔✔-C
| | | | | | |
In the article titled King Bean, When CEO Howard Schultz was attending
| | | | | | | | | | | |
an International House wares show in Milan, he decided to take a stroll
| | | | | | | | | | | | |
through the city in which he made the following statement: "All kinds of
| | | | | | | | | | | |
|people gathered and chatted at the bars...Right then it struck me like a
| | | | | | | | | | | | |
lightning rod: Why not bring the concept to America? This statement is
| | | | | | | | | | | |
, an example of which of the following components of Mintzberg's model
| | | | | | | | | | |
of strategy as a process.
| | | |
a. Intended strategy
| |
b. Deliberate strategy
| |
c. Realized strategy
| |
d. Emergent strategy (it came out of nowhere)
| | | | | | |
e. Unrealized strategy - CORRECT ANSWER✔✔-D
| | | | |
In the article titled King bean, Howard Schultz' investment in a "world
| | | | | | | | | | | |
class roasting facility, computer information system, health insurance
| | | | | | | |
and stocks for his employees, are examples of which of the following
| | | | | | | | | | | |
components of Mintzberg's model of strategy as a process.
| | | | | | | |
a. Intended strategy
| |
b. Deliberate strategy (got the assets to succeed)
| | | | | | |
c. Realized strategy
| |
d. Emergent strategy
| |
e. Unrealized strategy - CORRECT ANSWER✔✔-B
| | | | |
Which of the following best defines the concept of a competitive
| | | | | | | | | | |
advantage?
a. Actions / resources that create value relative to competing firms
| | | | | | | | | |
b. Actions / resource that generate positive economic value or profits
| | | | | | | | | |
Correct Answers
Which of the following is NOT included in the concept of strategy?
| | | | | | | | | | |
a. strategy is a postulate or a theory of how to compete successfully
| | | | | | | | | | | |
b. strategy is success oriented
| | | |
c. strategy is an allocation of resources that maintains or improves firm
| | | | | | | | | | | |
performance
d. Strategy includes anticipating the competitive moves of a firm's
| | | | | | | | | |
opponents
e. A good strategy is one that addresses the needs of the market, even if
| | | | | | | | | | | | | |
the firm does not have the assets (i.e. strengths) to pursue them -
| | | | | | | | | | | | | |
CORRECT ANSWER✔✔-E |
Which of the following is NOT considered to be a distinctive
| | | | | | | | | | |
characteristic of the Food and Agribusiness system?
| | | | | |
a. Food is intertwined with culture, domestically and internationally
| | | | | | | | |
(meatball wars) |
b. Uncertainty in the biological basis of crop and livestock production
| | | | | | | | | | |
(weather and safe food) | | |
c. Government intervention (i.e. subsidies and price supports) ($15
| | | | | | | | |
wage)
,d. The agribusiness system is driven by a large number of small scaled
| | | | | | | | | | | | |
producers
- should be fewer but largely competitive
| | | | | |
e. Public and private investment in Ag. Research (prices inc even private)
| | | | | | | | | | |
- CORRECT ANSWER✔✔-D
| | |
Which of the following statements best describes educational training in
| | | | | | | | |
Agribusiness management?
| |
a. Agribusiness is concerned with decisions made at the industry level
| | | | | | | | | | |
and therefore Economics- in terms of its understanding of markets- is
| | | | | | | | | | |
the cornerstone of basis for agribusiness education.
| | | | | |
b. Economic theory has been criticized for sacrificing relevance for
| | | | | | | | | |
abstract vigor. Therefore, economics has no value in dealing with "real
| | | | | | | | | | |
world" business problems. | |
c. Problems in agribusiness are diverse and complex and therefore
| | | | | | | | | |
economics alone is not likely to be sufficient with dealing with
| | | | | | | | | | |
Agribusiness problems. |
d. None of the above. - CORRECT ANSWER✔✔-C
| | | | | | |
In the article titled King Bean, When CEO Howard Schultz was attending
| | | | | | | | | | | |
an International House wares show in Milan, he decided to take a stroll
| | | | | | | | | | | | |
through the city in which he made the following statement: "All kinds of
| | | | | | | | | | | |
|people gathered and chatted at the bars...Right then it struck me like a
| | | | | | | | | | | | |
lightning rod: Why not bring the concept to America? This statement is
| | | | | | | | | | | |
, an example of which of the following components of Mintzberg's model
| | | | | | | | | | |
of strategy as a process.
| | | |
a. Intended strategy
| |
b. Deliberate strategy
| |
c. Realized strategy
| |
d. Emergent strategy (it came out of nowhere)
| | | | | | |
e. Unrealized strategy - CORRECT ANSWER✔✔-D
| | | | |
In the article titled King bean, Howard Schultz' investment in a "world
| | | | | | | | | | | |
class roasting facility, computer information system, health insurance
| | | | | | | |
and stocks for his employees, are examples of which of the following
| | | | | | | | | | | |
components of Mintzberg's model of strategy as a process.
| | | | | | | |
a. Intended strategy
| |
b. Deliberate strategy (got the assets to succeed)
| | | | | | |
c. Realized strategy
| |
d. Emergent strategy
| |
e. Unrealized strategy - CORRECT ANSWER✔✔-B
| | | | |
Which of the following best defines the concept of a competitive
| | | | | | | | | | |
advantage?
a. Actions / resources that create value relative to competing firms
| | | | | | | | | |
b. Actions / resource that generate positive economic value or profits
| | | | | | | | | |
