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FINAL EXAM MGT330

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1. The major actions by which a business competes in a particular industry or market.
Answer: Business strategy
2. A strategy employed for an organization that operates a single business and competes in a
single industry.
Answer: Concentration
3. A strategy used to add new businesses that produce related products or are involved in
related markets and activities.
Answer: Concentric diversification
4. A strategy used to add new businesses that produce unrelated products or are involved in
unrelated markets and activities.
Answer: Conglomerate diversification
5. The unique skills and/or knowledge an organization possesses that give it an edge over
competitors.
Answer: Core competencies
6. The set of businesses, markets, or industries in which an organization competes and the
distribution of resources among those entities.
Answer: Corporate strategy
7. A strategy an organization uses to build competitive advantage by being unique in its
industry or market segment along one or more dimensions.
Answer: Differentiation strategy
8. Strategies implemented by each functional area of the organization to support the
organization's business strategy.
Answer: Functional strategies
9. A target or end that management desires to reach.
Answer: Goal
10. A strategy an organization uses to build competitive advantage by being efficient and
offering a standard, no-frills product.
Answer: Low-cost strategy
11. An organization's basic purpose and scope of operations
Answer: Mission
12. The process of identifying the specific procedures and processes required at lower levels
of the organization.
Answer: Operational planning
13. The actions or means managers intend to use to achieve organizational goals.
Answer: Plans
14. Inputs to a system that can enhance performance
Answer: Resources

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15. A narrative that describes a particular set of future conditions.
Answer: Scenario
16. A process planners use, within time and resource constraints, to gather, interpret, and
summarize all information relevant to the planning issue under consideration.
Answer: Situational analysis
17. Groups and individuals who affect and are affected by the achievement of the
organization's mission, goals, and strategies.
Answer: Stakeholders
18. A system designed to support managers in evaluating the organization's progress
regarding its strategy and, when discrepancies exist, taking corrective action.
Answer: Strategic control system
19. Major targets or end results relating to the organization's long-term survival, value, and
growth
Answer: Strategic goals
20. A process that involves managers from all parts of the organization in the formulation and
implementation of strategic goals and strategies.
Answer: Strategic management
21. A set of procedures for making decisions about the organization's long-term goals and
strategies.
Answer: Strategic planning
22. The long-term direction and strategic intent of a company
Answer: Strategic vision
23. A pattern of actions and resource allocations designed to achieve the organization's goals.
Answer: Strategy
24. A comparison of strengths, weaknesses, opportunities, and threats that helps executives
formulate strategy.
Answer: SWOT analysis
25. A set of procedures for translating broad strategic goals and plans into specific goals and
plans that are relevant to a distinct portion of the organization, such as a functional area
like marketing.
Answer: Tactical planning
26. The acquisition or development of new businesses that produce parts or components of
the organization's product.
Answer: Vertical Integration
27. A perspective that goes beyond the conventional rules of society by suggesting that what
is moral must also come from what a mature person with good "moral character" would
deem right.
Answer: Virtue ethics

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28. An ethical system stating that the greatest good for the greatest number of people should
be the overriding concern of decision makers.
Answer: Utilitarianism
29. The ethical system stating that all people should uphold certain values, such as honesty
and other values that society needs to function.
Answer: Universalism
30. Economic growth and development that meets the organization's present needs without
harming the ability of future generations to meet their needs.
Answer: Sustainable growth
31. An act passed into law by Congress in 2002 to establish strict accounting and reporting
rules in order to make senior managers more accountable and to improve and maintain
investor confidence
Answer: Sarbanes-Oxley Act
32. Bases ethical behavior on the opinions and behaviors of relevant other people.
Answer: Relativism
33. Additional behaviors and activities that society finds desirable and that the values of the
business support.
Answer: Philanthropic responsibilities
34. Principles, rules, and values people use in deciding what is right or wrong.
Answer: Moral philosophy
35. A process of analyzing all inputs and outputs, through the entire "cradle-to-grave" life of
a product, to determine the total environmental impact of the production and use of a
product.
Answer: Life-cycle analysis (LCA)
36. To obey local, state, federal, and relevant international laws.
Answer: Legal responsibilities
37. Classifies people into categories based on their level of moral judgment.
Answer: Kohlberg's model of cognitive moral development
38. Company mechanisms designed to instill in people a personal responsibility for ethical
behavior.
Answer: Integrity-based ethics programs
39. The system of rules that governs the ordering of values.
Answer: Ethics
40. Meeting other societal expectations, not written as law.
Answer: Ethical responsibilities
41. One who is both a moral person and a moral manager influencing others to behave
ethically.
Answer: Ethical leader

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1. The major actions by which a business competes in a particular industry or market.Answer: Business strategy2. A strategy employed for an organization that operates a single business and competes in a single industry.Answer: Concentration3. A strategy used to add new businesses that produce related products or are involved in related markets and activities.Answer: Concentric diversification4. A strategy used to add new businesses that produce unrelated products or are involved in unrelated markets and activities.Answer: Conglomerate diversification5. The unique skills and/or knowledge an organization possesses that give it an edge over competitors.Answer: Core competencies6. The set of businesses, markets, or industries in which an organization competes and the distribution of resources among those entities.Answer: Corporate strategy7. A strategy an organization uses to build competitive advantage by being unique in its industry or market segment along one or more dimensions.Answer: Differentiation strategy8. Strategies implemented by each functional area of the organization to support the organization's business strategy.Answer: Functional strategies9. A target or end that management desires to reach.Answer: Goal10. A strategy an organization uses to build competitive advantage by being efficient and offering a standard, no-frills product.Answer: Low-cost strategy11. An organization's basic purpose and scope of operationsAnswer: Mission12. ...
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