MGT 3100 exam 2 questions with
verified answers already passed
strategy is the creation of a ___ and ___ position - correct answer ✔✔unique,
valuable
TF a company has to choose not only what strategy to follow (ie, make tradeoffs) -
correct answer ✔✔true
___ involves monitoring of an organizations internal and external environments to
detect opportunities and threats - correct answer ✔✔environmental scanning
what does "O" in SWOT stand for? - correct answer ✔✔opportunities
TF opportunities and threats are considered internal factors in a SWOT analysis -
correct answer ✔✔false
a strong organizational culture could be considered a ___ in a SWOT analysis -
correct answer ✔✔Strength
a trend analysis and contingency planning are both considered what type of
strategic activity? - correct answer ✔✔forecasting
, a ___ strategy involves a reduction in the organizations efforts - correct answer
✔✔defensive/retrenchment
Walmart, which seeks to have lower costs than competitors and target a wide
market, likely uses what strategy - correct answer ✔✔cost-leadership
according to the BCG matrix, a company with high growth and high market share
is called what - correct answer ✔✔star
TF the rational model of decision making explains how managers actually make
decision - correct answer ✔✔false
the first step in making a rational decision is - correct answer ✔✔identify the
problem
___ suggests that the ability of decision makers to be rational is limited by
numerous constraints - correct answer ✔✔bounded rationality
___ reflects the combination of how an individual perceives and responds to
information - correct answer ✔✔decision-making style
someone who focuses on the social aspects of work and takes a broad perspective
on decision making uses what style - correct answer ✔✔conceptual
TF its important to see yourself and your organization as outsiders do when
making decisions - correct answer ✔✔true
verified answers already passed
strategy is the creation of a ___ and ___ position - correct answer ✔✔unique,
valuable
TF a company has to choose not only what strategy to follow (ie, make tradeoffs) -
correct answer ✔✔true
___ involves monitoring of an organizations internal and external environments to
detect opportunities and threats - correct answer ✔✔environmental scanning
what does "O" in SWOT stand for? - correct answer ✔✔opportunities
TF opportunities and threats are considered internal factors in a SWOT analysis -
correct answer ✔✔false
a strong organizational culture could be considered a ___ in a SWOT analysis -
correct answer ✔✔Strength
a trend analysis and contingency planning are both considered what type of
strategic activity? - correct answer ✔✔forecasting
, a ___ strategy involves a reduction in the organizations efforts - correct answer
✔✔defensive/retrenchment
Walmart, which seeks to have lower costs than competitors and target a wide
market, likely uses what strategy - correct answer ✔✔cost-leadership
according to the BCG matrix, a company with high growth and high market share
is called what - correct answer ✔✔star
TF the rational model of decision making explains how managers actually make
decision - correct answer ✔✔false
the first step in making a rational decision is - correct answer ✔✔identify the
problem
___ suggests that the ability of decision makers to be rational is limited by
numerous constraints - correct answer ✔✔bounded rationality
___ reflects the combination of how an individual perceives and responds to
information - correct answer ✔✔decision-making style
someone who focuses on the social aspects of work and takes a broad perspective
on decision making uses what style - correct answer ✔✔conceptual
TF its important to see yourself and your organization as outsiders do when
making decisions - correct answer ✔✔true
