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MICROECONOMICS week 2 homework

Question 1 of 20 5.0 Points Goals set with and by lower-level managers are called: � A. strategic. B. tactical. C. developmental. D. operational. Reset Selection Mark for Review What’s This? Question 2 of 20 5.0 Points When Proctor and Gamble compares its capabilities against competitors to find out whether the firm possesses any unique strengths, the firm is determining: � A. a tactical goal. B. a strategic goal. C. an operational goal. D. its distinctive competencies. Reset Selection Mark for Review What’s This? Question 3 of 20 5.0 Points Strategic goals are set by: � A. first-line managers. B. middle managers. C. top managers. D. stockholders. Reset Selection Mark for Review What’s This? Question 4 of 20 5.0 Points Which of the following outlines the organization’s purpose, assumptions, values, and direction? � A. Mission B. Purpose C. Strategic plan D. Strategic goal Reset Selection Mark for Review What’s This? Question 5 of 20 5.0 Points The component of strategy that indicates how the organization intends to allocate resources is: � A. resource deployment. B. scope. C. competitive advantage. D. synergy. Reset Selection Mark for Review What’s This? Question 6 of 20 5.0 Points Coca-Cola’s success in global marketing is the result of its distribution system and its marketing communications, which are two of the company’s: � A. organizational weaknesses. B. environmental strengths. C. environmental weaknesses. D. organizational strengths. Reset Selection Mark for Review What’s This? Question 7 of 20 5.0 Points There are a lot of companies that make decorative items for the home. Franklin Mint makes decorative gift items that it sells as collectibles. For instance, each decorator plate that it markets is given a number, and only a finite quantity of each plate is manufactured. By use of a(n) __________ strategy, Franklin Mint distinguishes itself from other companies that make decorative items for the home. � A. related diversification B. focus C. BCG D. diversification Reset Selection Mark for Review What’s This? Question 8 of 20 5.0 Points __________ is a useful framework for managers to use as they plot business strategy over time. � A. Portfolio approach B. Product life cycle C. Environmental SWOT analysis D. Porter model Reset Selection Mark for Review What’s This? Question 9 of 20 5.0 Points Tide laundry detergent, manufactured by Proctor & Gamble, is the number-one selling detergent in the United States, although sales volume has been flat for years. In the U.S., in what stage of the product life is Tide laundry detergent? � A. Growth B. Decline C. Focus D. Maturity Reset Selection Mark for Review What’s This? Question 10 of 20 5.0 Points Which of the following is an advantage of unrelated diversification? � A. Stable financial performance over time B. Reduced overhead costs C. Specific, detailed knowledge about each individual SBU D. Synergy Reset Selection Mark for Review What’s This? Question 11 of 20 5.0 Points Decisions by managers of Time Warner to sell off Warner Music Group’s DVD and CD manufacturing, printing, packaging, physical distribution, and merchandising business was an example of a(n) __________ decision. � A. programmed B. satisficing C. nonprogrammed D. irrational Reset Selection Mark for Review What’s This? Question 12 of 20 5.0 Points �Decision making under risk� means the decision maker: � A. has no data on which to base his or her decision. B. is risk-averse, avoiding risky investments. C. knows all the risks involved in the decision. D. can estimate decision data with some probability. Reset Selection Mark for Review What’s This? Question 13 of 20 5.0 Points Bar code scanning computers at checkout have greatly simplified the inventory __________ decisions. � A. nonprogrammed B. certainty C. risk D. programmed Reset Selection Mark for Review What’s This? Question 14 of 20 5.0 Points Suppose that a bank manager is trying to decrease turnover of his employees. He wants to develop as many possible courses of action as he can. At what stage of the rational decision-making process is this bank manager? � A. Implementing the chosen alternative B. Selecting the best alternative C. Recognizing the decision situation D. Identifying alternatives Reset Selection Mark for Review What’s This? Question 15 of 20 5.0 Points In the classical decision-making model, �optimization� means: � A. implementing two or more alternatives simultaneously. B. choosing the alternative with the best overall expected outcomes. C. gathering the most complete information before making the decision. D. reaching a satisfactory level of performance. Reset Selection Mark for Review What’s This? Question 16 of 20 5.0 Points When a plant manager is attempting to find a site for a new plant and selects the first site that he finds that meets the basic requirements for price, utilities, and transportation, which decision-making strategy is this plant manager utilizing? � A. Bounded rationality B. Escalation of commitment C. Satisficing D. Coalition Reset Selection Mark for Review What’s This? Question 17 of 20 5.0 Points One advantage of group decision making is: � A. groupthink. B. compromise. C. more information and knowledge are available. D. one person may dominate the group. Reset Selection Mark for Review What’s This? Question 18 of 20 5.0 Points A very strong-willed manager, when involved in a group decision, is often able to persuade the rest of the group to do what works best for him. Which disadvantage of group decision making is this group experiencing? � A. Diversity of background B. Compromise C. Groupthink D. Domination by one member Reset Selection Mark for Review What’s This? Question 19 of 20 5.0 Points When a plant manager who is trying to reduce turnover of production workers notices that turnover has decreased by 10 percent four months after he instituted a new training program, at which step in the rational decision-making process is this manager? � A. Evaluating the results B. Identifying alternatives C. Recognizing the decision situation D. Selecting the best alternative Reset Selection Mark for Review What’s This? Question 20 of 20 5.0 Points Bounded rationality is assumed in: � A. the administrative model. B. the rational model. C. the irrational model. D. decision making under certain

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