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Instructions Instructions & Grading: This is an individual open book, note, and internet exam

Management

Instructions Instructions & Grading: This is an individual open book, note, and internet exam. The exam answers should be written in full sentences in APA format. Each answer is expected to have at a minimum three references cited (in text and as a reference list on a reference page for the exam). There may be cases where additional sources should be cited to have a full and complete answer to the question. Exams should be written in APA format and each answer should have at least 3 sources cited. Students may use print based sources or online library sources such as CSU library or Google Scholar to identify relevant and credible sources. As a guideline – Successful answers to 10-point questions should be at least 350 words and be written in complete sentences using appropriate grammar and APA in-text citations. Questions: 1. Define the strategic management process and discuss the difference between an intended and an emergent strategy? (10 points) 2. Why is it important to view strategic management as a process and describe tools in how you could teach strategic thinking. (5 points) 3. Identify a mission statement from an organization that emphasizes each of the elements of the triple bottom line. Discuss how each of these values are shown in organizational strategy and actions. (5 points) 4. Are all six elements of PESTEL important to every organization? Why or why not? (10 points) 5. Using a recent news article, identify a trend that has a positive and negative implication for a particular industry. Discuss the trend and the possible implications for strategic change. (10 points) 6. Competition: (10 points) ? Define and discuss Porter’s Five Forces. ? Then imagine you are the president of your college or university. Which of the five forces would be most important to you? Why? 7. Competitive Advantage: (10 points) ? What tangible and intangible resources does your favorite restaurant have that might give it a competitive advantage? ? Do any of the resources or capabilities of your favorite restaurant have the four qualities of resources (VRIO) that lead to success as articulated by resource-based theory? 8. Intellectual Property: (10 points) ? What is intellectual property? ? What type of intellectual property provides the most protection for firms? ? Why do organizations wish to protect intellectual property? rd adopted Aug 23 , 2021,by Faculty Chair MGMT 485 Syllabus: Page 1 of 22 9. Observing Business Strategies (5 points) ? What is an example of a business that you think is focused in too narrow a fashion to be successful? ? How might it change to be more successful? 10.Research a company that has gone bankrupt or otherwise stopped operations in the past decade because their strategy was “stuck in the middle” of otherwise viable generic business-level strategies. Could its demise have been prevented? Why or why not? (5 points) 11. Discuss what entrepreneurial orientation is followed by how could you apply the dimensions of entrepreneurial orientation to a job search? (10 points) 12.Studies have shown that executives’ pay increases when their firms get larger. What role, if any, do you think executive pay plays in diversification decisions? Is this an ethical issue? Why or why not? (10 points) 13.Is offshoring ethical or unethical? Why? (10 points) 14.If you were assigned to turn around a struggling automaker such as General Motors or Chrysler, what actions would you take to revive the company’s prospects within the global auto industry? Conduct a situational and external analysis and discuss and justify your suggested strategy. (20 points) 15.Define corporate social responsibility. (20 points) ? Then assume that you have been selected to serve on a team to come up with ideas on how your office can implement corporate social responsibility (you may select an organization or company as an example). ? What specific CSR ideas will you share with the team? ? Justify your decisions and suggested strategies along with their possible/intended outcomes. 16.Pandemic Paper (50 points): The pandemic created an ethical challenge for both political leaders and citizens: Open up to get the economy going and people back to work and school, but risk raising infection rates – or continue to lock down to control and diminish the impact of the virus but keep people unemployed – or some balance in between. Choose One of the Cases Below Case 1. Suppose you are the CEO of a 200-person company that makes specialized parts for airplanes. You outsource the manufacturing to another company in Mexico. With the coronavirus outbreak, you initially followed the governor’s guidance, closed the office and had people work from home. Productivity is suffering, and you have a lab where 30 people work in two shifts who cannot work from home. You have paid them for the first 4 weeks anyway, but now you are running in the red with sales down. What do you do? Bring everyone back to the office, and risk them getting infected? Bring only the lab staff back, with the same risk? Lay off the lab staff? Furlough everyone to stop the bleeding until this passes? Continue paying everyone and risk bankrupting the company? Some combination of these options? Or is there another option you haven’t thought of yet? What’s your decision, CEO? Discuss and justify your strategic decision making. Case 2. Suppose you own Sharkey’s in Blacksburg. Students are gone and your business has collapsed. Now you’re closed per the governor’s order, and all staff are furloughed. You tried to stay open for take-out only but it didn’t work. The governor has announced that Phase 2 will start next week, and you can open with 25% capacity. It’s July, there are a few students around, with many more expected in August. You have enough cash in the bank to stay closed and pay the bills until the semester starts. You’ll lose even more money if you open now at 25% capacity and have to pay staff. They need their jobs, however, coming back also increases their risk of infection. What do you do? What’s the best decision? You first decide that you hate these ethical dilemmas. Then what?

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