Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 8.6, Problem 2CC
When does a firm have a competitive advantage over its rivals?
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Management of diversity is important to a company's workers because:
Question 14Answer
a.
Employees mainly learn about the differences among themselves
b.
Employees learn about the drawbacks of diversity
c.
Employees learn about the wealth that it brings to their company
d.
Employees learn about the class differences among themselves
Identify, in the correct order, the key steps which must be followed when developing a global strategy:
a.Decide whether to globalize, where to globalize, how to globalize
b. Decide whether to globalize, where to globalize, internationalize the core strategy
c.Develop the core strategy, internationalize the core strategy, globalize the core strategy
d.Develop the core strategy, locally market the core strategy, internalize the core strategy
This structure is created around cross-functional core processes, with self-managed work teams, providing teams with the ability to think outside the box, and people being empowered with the necessary skills, tools and authority to make vital decisions
a.Matrix structure
b.Divisional structure
c.Horizontal structure
d.Functional structure
Chapter 8 Solutions
Principles of Management
Ch. 8.1 - Why do managers use strategic analysis?Ch. 8.1 - How are internal factors different from external...Ch. 8.2 - Explain the elements of a SWOT analysis.Ch. 8.2 - What information does a SWOT analysis provide...Ch. 8.3 - Describe a firms macro environment.Ch. 8.3 - What does PESTEL stand for? How do managers use...Ch. 8.3 - How would you approach this issue if you were the...Ch. 8.3 - What PESTEL challenges is LEGO trying to address...Ch. 8.3 - Explain what favorable PESTEL factors support...Ch. 8.4 - Describe each of Porters Five Forces. What...
Ch. 8.5 - What are firm resources and capabilities?Ch. 8.5 - Describe a value chain and what the activities in...Ch. 8.5 - What is VRIO? What questions do the letters stand...Ch. 8.5 - What resource or capability challenges have Uber...Ch. 8.5 - What PESTEL factors do you think are contributing...Ch. 8.5 - What industry challenges (think of Porters Five...Ch. 8.6 - What is competition, and what is the role of...Ch. 8.6 - When does a firm have a competitive advantage over...Ch. 8.6 - Explain the differences between the three...Ch. 8.7 - How does strategic analysis help a firm develop...Ch. 8 - Why do managers use strategic analysis?Ch. 8 - What information does a SWOT analysis provide...Ch. 8 - Describe a firms macro environment and how...Ch. 8 - What is a firms micro environment, and why is it...Ch. 8 - What is an industry, and how do Porters Five...Ch. 8 - What are firm resources and capabilities, and what...Ch. 8 - When does a firm have a competitive advantage over...Ch. 8 - What are generic competitive strategies, and how...Ch. 8 - What do strategic group members have in common...Ch. 8 - How does strategic analysis help a firm develop...Ch. 8 - What PESTEL factors supported Teslas success?...Ch. 8 - How has Teslas strategic position changed since it...Ch. 8 - What kind of responses would you expect from...
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Similar questions
- _________________ are defined as forces that shape on organisation’s strategy a.Strategic Drivers b.Human Resources c.Strategic Leversarrow_forwardA clearly defined __________________ directly addresses the question “What is our business?” from an organisational standpoint and distinguishes it from another similar firm a.Vision statement b.Business plan c.Strategic Plan d.Mission Statementarrow_forward___________________refers to the process of redesigning a vertical organisation along its horizontal workflows and processes. Rather than focusing on narrow jobs structured into distinct functional departments, they emphasise core processes that cut horizontally across the organisation and involve teams of employees working together to serve customers a. Business Process Reengineering b. Horizontal Configuration c. Structural Reengineering d. Workforce Configurationarrow_forward
- ___________________refers to the process of redesigning a vertical organisation along its horizontal workflows and processes. Rather than focusing on narrow jobs structured into distinct functional departments, they emphasise core processes that cut horizontally across the organisation and involve teams of employees working together to serve customersarrow_forwardAssuring results is an attainable habit of a strategic leader only if a strategic leader is intentional in developing high performing organisations. Strategic leaders must be intentional in this because they can shape the organisational culture, or the culture may ‘manage’ the leader. One way to do this is to ______________ a.Develop a Strategic Leadership plan b.Develop a Vision Statement c.Implore levers of change d.Develop a Strategic Implementation Planarrow_forwardSupporting Strategic Initiative Through HRM Policies Given the strategic initiative and organization described in your Module 2 and Module 3 Critical Thinking assignment submissions, discuss the Human Resources Management (HRM) policies that would consistently and coherently support attainment of your strategic initiative. These policies might address recruitment, selection, training/development, performance evaluation, compensation, and dismissal. Briefly describe the organization and your initiative. Describe HRM policies you think are important to implement your strategic initiative. Describe rewards and incentives that would be used to ensure compliance, buy-in, and effort to make the strategic initiative successful.arrow_forward
- As you are looking at different areas within the country in which to locate the manufacturing plant, you came across a facility built by a startup company that went out of business within two years due to underfunding. You think you can get a good price for the plant, but you will need to negotiate with the local owners. You are a fairly experienced negotiator in the US but have never dealt with parties from your expansion country. To prepare yourself, review Chapter 5, which describes various ideas for negotiating with different cultures. Additionally, you may go to the following website and view videos on Cross-Cultural NegotiationsLinks to an external site.. Initial Post Instructions For your initial post, describe key factors that you would want to research prior to conducting negotiations with key personnel for the purchase of a manufacturing plant in the location selected for your expansion initiative. Explain why you think this would be a key factor in the negotiation…arrow_forwardDevelop a risk management plan for the transition to a smart meter system. How will WSSmeasure the success of this risk management plan?arrow_forwardCompare and contrast ToolTopia’s virtual workspace with the concept of a virtual network structure. first define virtual workpace and virtual network structurearrow_forward
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