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Question
Understanding the forces that determine competitiveness within an industry should help managers develop strategies to make their companies more competitive within the industry. Explain the three generic strategies developed by Porter to illustrate the kind of strategies managers might develop to make their organizations more competitive.
Answer
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Related questions
Q:
Which of the following best describes an angel investor?
A) Families and friends of an entrepreneur are not angel investors.
B) Angel investors raise money and then use this money to make investments in new firms.
C) Angel investors make fewer investments than venture capitalists.
D) Angel investors focus on a small number of industries.
E) Angel investors provide the initial financing to start-up ventures.
Q:
________ refers to the activities and investments committed to gain returns from the new product or service arising from the opportunity.
A) Exploitation
B) Information asymmetry
C) Entrepreneurial risk
D) Illusion of control
E) Social value
Q:
________ is a type of evaluation that helps entrepreneurs understand whether an idea is practical.
A) Illusion of control
B) Entrepreneurial risk management
C) Strategic planning
D) Feasibility analysis
E) Entrepreneurial alertness
Q:
________ is the second step of the entrepreneurial process.
A) Opportunity identification
B) Opportunity selection
C) Opportunity evaluation
D) Opportunity feedback
E) Opportunity success
Q:
________ refers to an individual's ability to notice and be sensitive to new information about objects, incidents, and patterns of behavior in the environment.
A) Social networking
B) Entrepreneurial opportunity
C) Entrepreneurial alertness
D) Feasibility analysis
E) Entrepreneurial risk
Q:
Explain the four components of international plans for multinational corporations.
Q:
What are the six stages of multinationalization? What activities does a company perform at each stage?
Q:
When a company provides an expatriate with basic information about life in a foreign country, such as personal safety, who to call in an emergency, and how to write a check, the company is providing training in ________.
A) cultural profiling
B) cultural adaptation
C) cultural application
D) logistical information
E) repatriation
Q:
When a company provides an expatriate with information on how to survive the difficulties of adjusting to a new culture, the company is providing training in ________.
A) logistic information
B) cultural application
C) cultural adaptation
D) cultural profiling
E) repatriation
Q:
A(n) ________ organization considers national borders to be inconsequential to its operations, with ownership, control, and management being from many different countries.
A) international
B) multinational
C) pan-national
D) transnational
E) domestic
Q:
Countries that are high in ________ prefer being in more defined and predictable situations.
A) individualism
B) masculinity
C) collectivism
D) power distance
E) uncertainty avoidance
Q:
What is planning? What are the advantages and potential disadvantages of planning?
Q:
Management's evaluation of planners should ________.
A) never be completely objective
B) depend mostly on subjective factors
C) be completely subjective in nature
D) rely entirely on objective criteria
E) completely avoid the use of subjective indicators
Q:
The workers of a factory go on an unauthorized strike. The factory supervisor attempts to brings the situation under control by initiating negotiations with the labor union. According to Mintzberg, this manager has taken on the role of a(n) ________.
A) liaison
B) monitor
C) disturbance handler
D) organizational figurehead
E) resource allocator
Q:
According to Mintzberg, when managers establish themselves as links between their organizations and factors outside their organizations, they are performing the role of a ________.
A) resource allocator
B) disturbance handler
C) monitor
D) negotiator
E) liaison
Q:
The CEO of an organization inaugurated the company's state-of-the-art research and development facility. According to Mintzberg, the CEO performed the role of a(n) ________ in this situation.
A) monitor
B) liaison
C) organizational figurehead
D) resource allocator
E) disturbance handler
Q:
One of the primary advantages of management by objectives (MBO) is that ________.
A) it saves time
B) it is an easy process
C) it gains employee commitment
D) it reduces the volume of paper work in the organization
E) it places the responsibility for goal attainment solely on managers
Q:
Targets to be achieved in one year or less are ________.
A) time-bound actions
B) departmentalized goals
C) short-term objectives
D) long-term objectives
E) intermediate-term plans
Q:
According to Drucker, which of the following goal areas relates to a tangible, impersonal characteristic of organizational operations?
A) number of employees
B) innovation
C) managerial performance and development
D) worker performance and attitude
E) public responsibility
Q:
One of the corporate objectives of Supra Inc. is "to enrich the quality of life in the community by providing education, training, and employment opportunities."According to Drucker, this organizational objective relates to ________.
A) managerial performance and development
B) innovation
C) public responsibility
D) worker performance and attitude
E) market standing
Q:
One of the short-term objectives of Alport Corporation, a manufacturer of construction equipment, is "to achieve a 15 percent return on investment (ROI) by September 2011."According to Drucker, this objective relates to ________.
A) innovation
B) productivity
C) market standing
D) managerial performance
E) profitability
Q:
Discuss briefly the steps in the decision-making process.
Q:
What is consensus?
Q:
Naomi leads a team of software developers. Because of the sudden increase in the number of projects over the last few weeks, the team will need to work additional hours in order to meet the various deadlines. She asks her team members to write down their individual ideas on whether they should extend their daily work hours, or simply work on Saturday for the next couple of months. They are also encouraged to come up with other solutions that can help them solve the problem. Which of the following methods of decision-making is Naomi most likely using?
A) the Delphi technique
B) the nominal group technique
C) brainstorming
D) groupthinking
E) controlled creativity
Q:
In the nominal group technique of decision-making, after all the members have discussed the ideas, they ________.
A) discuss their ideas one-to-one with the group leader
B) present their personal views on each of the ideas discussed
C) write down each idea on the board for all the other members to refer to
D) take out a secret ballot to support their favorite idea
E) adopt and implement the most cost effective idea
Q:
The primary management function is ________.
A) organizing
B) influencing
C) controlling
D) planning
E) staffing
Q:
The management by objectives (MBO) approach has been found to be ineffective for nonprofit organizations.
Q:
Organizational objectives are the targets toward which the management system is directed.
Q:
The last step in the planning process focuses on developing plans to pursue the chosen alternative for reaching organizational objectives.
Q:
Premises are the assumptions upon which alternatives to reaching organizational objectives are based.