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University of Alabama, Birmingham- MG 302 1) I’ll recruit people in an International Brotherhood of Electrical Workers apprenticeship program, since they will be more likely to have the skills they need to get their license

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University of Alabama, Birmingham- MG 302

1) I’ll recruit people in an International Brotherhood of Electrical Workers apprenticeship program, since they will be more likely to have the skills they need to get their license.

 

2 Using your knowledge of SMART goals, select the best goal.

 

 

3 As a manager, you have been asked to work with your employees to develop goals. What can you expect from this process? Check all that apply.

 

 One of the drawbacks of plans is that they can create a false sense of security.

The advantages of setting goals and making plans always outweigh the disadvantages for every organization in any environment.

When deciding whether goals and plans will be beneficial, managers should consider whether the environment is more stable or more dynamic.

A benefit of plans is that they lock the organization into a course of action it can stick to, even if the environment changes.

 

4 As a manager, you have been asked to work with your employees to develop goals. What can you expect from this process? Check all that apply.

One of the drawbacks of plans is that they can create a false sense of security.

A benefit of plans is that they lock the organization into a course of action it can stick to, even if the environment changes.

A benefit of goals is that they help motivate employees.

Planning can harm an organization because it distracts employees from important outcomes.

 

 

5 At a company located in California, the management team engages in _____________    to develop detailed plans in case of a devastating earthquake.

 

6 In some years, weather patterns have caused there to be few fish in local lakes, and anglers have gone elsewhere. Also, invasive carp are threatening the lakes and may someday cause fish stocks to drop indefinitely. How should these facts impact Dave and Betsy’s planning?

 

 

7 When Paul O’Neill joined Alcoa as CEO, he set a___________  , that there would be zero workplace accidents. A lot of people in the organization thought this was impossible given how dangerous some aluminum-manufacturing jobs are, but Alcoa’s safety record improved tremendously.

8 As the Board of Governors of the American Red Cross considers planning, one option is to make strategic plans and then direct managers to align tactical and operational plans accordingly. Another option is to have planning specialists help managers across the organization make their own plans. Why might this organization’s executives opt for the latter approach?  Check all that apply.

The environment is a dynamic one, and department and frontline managers can come up with more responsive plans than can central leadership.

Resources will be better coordinated across the organization in support of the overall strategy.

Senior leadership will have more control over the organization’s direction.

When managers come up with their own plans, they are likely to be more committed to following through on them

 

 

 

 

 

9 To achieve _____________, companies target specific customers, focus on core competencies, provide synergy, and create value.

10 Making decisions and taking actions to achieve a superior fit between the organization and its environment is_____________ 

 

11 Kaila, the owner of a costume shop, has a three-year strategic goal to serve 15 percent more customers and increase margins by 5 percent. To achieve this goal, she will lease the retail space next door. When she signs the lease and pays to remodel the space, this is an example of   

 

12 When conducting a SWOT analysis, budgets, ratios, and sales reports can be used to identify:

 

 

13 When referring to a SWOT analysis, the letter T stands for _____, and it refers to factors that are  external   to the organization.

14 Which of the following factors should be classified as a strength for the team?

 

 

15 Considering all of the factors listed in the preceding SWOT analysis question, what strategy would make the most sense for the Giants in the upcoming season?

 

 

16 When conducting a SWOT analysis, information about turnover, profit margins, and staff quality can be used to identify:

 

 

 

 

 

Statement

True

False

1. A company that strictly controls expenses is likely to use a low-cost leadership strategy.

 

2. Differentiation strategies can reduce the bargaining power of large customers.

3. When using a focus strategy, a company tries to create a product that will appeal to the broadest possible customer base.

 

4 Helena discusses how she might arrive at a budget for her website. If she decides to hire a consultant to make the website more mobile-friendly and integrate better across social media platforms, which of the following would be true?

 

 

5 Which of the following is an example of a way in which Mi Ola uses core competence to achieve competitive advantage? Check all that apply.

Helena Fogarty has many years of experience in different aspects of the fashion industry.

An avid surfer, Helena Fogarty is personally aware of what Mi Ola’s customers need in a swimsuit.

Mi Ola seeks funding from outside investors to achieve greater capitalization.

Mi Ola’s website allows customers from all over the world to order products in 4 sizes, 12 colors, and a wide range of styles.

 

 

6 Helena mentions that she might “allocate one-third of the revenue that I get from e-commerce into the cost for e-commerce.” Which of the following accurately describes this statement?

 

7 Mi Ola designs swimsuits for women who are athletic in the water, and the swimsuits have design features that allow them to stay on during physical activity. This indicates that Mi Ola has a: Check all that apply.

Cost leadership strategy

Differentiation strategy

Focus strategy

Cash cow strategy

 

8 In discussing inventory, Helena mentions that bikinis for sale on the website are not always in stock. Say customer feedback indicates that when a customer’s bikini won’t arrive within two weeks, that customer usually cancels their order. Furthermore, retail stores ordering restocks of items usually find another supplier if Mi Ola cannot ship within two weeks. What would be the best action for Helena to take first?

 

 

 

9 When formulating strategy, Mi Ola’s managers scan the business environment for factors that will or could impact the company’s competitive advantage. Which of the following would pose a threat to Mi Ola? Check all that apply.

Mi Ola continues to have limited funds available to invest in inventory, meaning that products are often out of stock.

Unlike most clothing brands, Mi Ola contracts with U.S. factories to supply its fabric and manufacture the garments, incurring greater costs than competitors who source from overseas factories.

Helena Fogarty hires a designer who produces a line of bikinis that customers hate and a prominent fashion blogger features as “Ugliest Swimsuits Ever.”

Several top professional women surfers state in interviews that they feel one-piece swimsuits are much sexier than bikinis, as well as more practical.