MGMT 320 Exam 2

________ requires a manager to visit an earlier step in the strategic-management process in order to revise actions if necessary.

• The organizational mission

• Strategy formulation

• The current reality assessment

• The feedback loop

Bruno knows that one of the reasons people do not return to his home appliance store is because of the slow service. How would a SWOT analysis classify the slow service at Bruno’s store?

• as a strength

• as a threat

• as a weakness

• • 
    as a competitive advantage

Which of the following scenarios represents a significant organizational threat to a business?

• a sudden and unexpected increase in raw material prices due to geopolitical tensions

• a minor shift in consumer preferences towards a new fashion trend

• a temporary shortage of skilled labor in the job market

• a routine maintenance issue leading to a brief halt in production

Duracell, a company well-known for manufacturing alkaline batteries, derives its strategic position from which source?

• few needs, many customers

• broad needs, few customers

• few competitors, broad market

• broad needs, many customers

Farrah’s Furniture sells modern desks, chairs, and other office furniture mainly to businesses and institutions. An example of Farrah’s pursuing a growth strategy would be

• expanding to sell home furnishings.

• offering their desks in additional colors.

• selling the business to a larger competitor.

• replacing the sales manager after she retires.

In a SWOT analysis, organizational strengths are

• external opportunities that a company can take advantage of.

• environmental factors that the organization may exploit for competitive advantage.

• MBO skills that should be emphasized.

• skills and capabilities that give a company advantages in executing its strategies.

The managerial tools for ________Blank include a SWOT analysis, forecasting, and VRIO analysis.

• creating shared value

• corrective actions

• organizational assessment

• grand strategies

To maximize profitability and competitiveness, firms must

• create alignment across all levels of strategy.

• sacrifice functional-level strategy for the sake of corporate-level.

• diversify their investment portfolios.

• create shared value via greenwashing.

A company specializing in speakers and headphones would perceive a new trade tariff on Bluetooth-equipped devices as an organizational threat.

• True

• False

An electronics company that specializes in universal remote controls designed for various devices, employs the strategic positioning of “few needs, many customers” in its business model.

• True

• False