BUS1002 Week 2

Contemporary managers are learning many things because of the impact of the 21st century environment. Which of the following is NOT one of the things that contemporary managers are learning to do?

• Contemporary managers are learning how to succeed in a world of intense competition.

• Contemporary managers are learning how to succeed in an environment of continued globalisation of markets and business activities.

• Contemporary managers are learning how to succeed in a world of rapid technological change.

• Contemporary managers are learning to operate in a world that devalues information, quality and speed.

• Contemporary managers are learning to respond to unrelenting new demands.

An organisation can create a __________ by utilising a __________ that clearly sets it apart from its competitors and gives it an advantage over them in the marketplace.

• competitive advantage, core competency

• core competency, competitive advantage

• competitive advantage, specific environment

• general environment, specific environment

• core advantage, competitive competency

An organisation can achieve a competitive advantage through which of the following ways?

• Pricing and customer service

• Cost efficiency and quality

• Customer service and quality

• All of the above

• None of the above

The key result of achieving a competitive advantage is

• an ability to sidestep government regulations.

• an ability to consistently do something of high value that one's competitors cannot replicate or do as well.

• an ability to drive the competition out of business and to make extraordinarily high profits.

• an ability to establish a monopolistic market position.

• an ability to dictate consumer needs and preferences.

__________ is especially important in the demanding global economy because nowhere in the world can managers rest on past successes and ignore what others are doing, either at home or abroad.

• Core advantage

• Market advantage

• Strategic advantage

• Competitive advantage

• Management advantage

The __________ consists of all the background conditions in the external environment of an organisation that form a general context for managerial decision making.

• task environment

• general environment

• specific environment

• management environment

• organisational environment

General environment conditions exclude which one of the following categories?

• Technological conditions

• Human relations conditions

• Economic conditions

• Legal-political conditions

• Natural environment conditions

Which of the following would NOT be a condition in the general environment?

• Economic conditions

• Social-cultural conditions

• Legal-political conditions

• Extent and nature of competition

• Technological conditions

Economic conditions in the general environment include

• philosophy and objectives of political parties, as well as laws and governmental regulations.

• inflation, income levels, gross domestic product and unemployment.

• social values regarding human rights and the natural environment, trends in education and demographic patterns.

• development and availability of technology in the environment, including scientific advancements.

• nature and conditions of the physical environment.

Legal-political conditions in the general environment include

• philosophy and objectives of political parties, as well as laws and governmental regulations.

• inflation, income levels, gross domestic product and unemployment.

• social values regarding human rights and the natural environment, trends in education and demographic patterns.

• development and availability of technology in the environment, including scientific advancements.

• nature and conditions of the physical environment.