MGMT 498 8 Exam Questions With 100%
Correct Answers
Amazon's explosive success is largely due to which of the following? (Check all that apply.)
diversification
vertical integration
When a business answers the question of where to compete, it is determining ___.
corporate strategy
In order for a firm to lower costs, it must ______.
grow
Which of the following terms describes the strengths that allow a firm to distinguish itself from the
competition?
core competencies
______ costs are all of the costs associated with an economic exchange.
Transaction
Amazon's continued focus on ______ is a key to its ongoing success.
innovation
__ strategy involves the decisions that senior management makes and the goal-directed actions it
takes to gain and sustain competitive advantage in several industries and markets simultaneously.
Corporate
Which of the following is an example of the principal-agent problem even when the principal's goal is
to create shareholder value?
a manager flying first class on all business trips
Which of the following are among the reasons firms need to grow? (Check all that apply.)
to increase profits
to motivate management
Which of the following are alternatives on the make-or-buy continuum? (Check all that apply.)
equity alliances
joint ventures
Which of the following describes economies of scope?
the savings from producing two or more outputs at less cost than producing each output individually
Transaction costs include ______ costs associated with an economic exchange.
the internal and external
Correct Answers
Amazon's explosive success is largely due to which of the following? (Check all that apply.)
diversification
vertical integration
When a business answers the question of where to compete, it is determining ___.
corporate strategy
In order for a firm to lower costs, it must ______.
grow
Which of the following terms describes the strengths that allow a firm to distinguish itself from the
competition?
core competencies
______ costs are all of the costs associated with an economic exchange.
Transaction
Amazon's continued focus on ______ is a key to its ongoing success.
innovation
__ strategy involves the decisions that senior management makes and the goal-directed actions it
takes to gain and sustain competitive advantage in several industries and markets simultaneously.
Corporate
Which of the following is an example of the principal-agent problem even when the principal's goal is
to create shareholder value?
a manager flying first class on all business trips
Which of the following are among the reasons firms need to grow? (Check all that apply.)
to increase profits
to motivate management
Which of the following are alternatives on the make-or-buy continuum? (Check all that apply.)
equity alliances
joint ventures
Which of the following describes economies of scope?
the savings from producing two or more outputs at less cost than producing each output individually
Transaction costs include ______ costs associated with an economic exchange.
the internal and external
