Mid-Term Exam – Week 4

Question 1 of 25

Ethical principles in business

• A.
deal chiefly with the actions and behaviors required to operate companies in a socially responsible manner.
• B.
are not materially different from ethical principles in general.
• C.
deal chiefly with the rules each company’s top management and board of directors make about “what is right” and “what is wrong.”
• D.
are generally less stringent than the ethical principles for society at large.

Question 2 of 25

__ refers to the strategy of approaching worldwide markets with standardized products.

• A.
Horizontal integration
• B.
Vertical integration
• C.
Globalization
• D.
Franchising

Question 3 of 25

___ are strategies that exploit economic or other differences between national or regional markets, usually by locating separate parts of the supply chain in different places.

• A.
Externalization strategies
• B.
Adaption strategies
• C.
Innovation strategies
• D.
Arbitrage

Question 4 of 25

As its industry becomes increasingly __, a firm must begin to coordinate an increasing number of functional activities to effectively compete across countries.

• A.
global
• B.
local
• C.
multidomestic

• D.
regional

Question 5 of 25

A(n) __ is a major unfavorable situation in a firm’s environment.

• A.
Threat
• B.
Weakness
• C.
Competitive disadvantage
• D.
Core strength

Question 6 of 25

______ is the relentless focus on providing customers with reliable products or services at competitive prices and delivered with minimal difficulty or inconvenience.

• A.
Value discipline
• B.
Domestic strategy
• C.
Operational excellence
• D.
Customer intimacy

Question 7 of 25

The demand preference of consumers who desire to be the first to adopt new technologies or possess new, different, and unusual products is known as:

• A.
Operational excellence
• B.
Product leadership
• C.
Customer intimacy
• D.
Value discipline

Question 8 of 25

A(n) _ reflects a company’s awareness of how, when and where is should compete, against whom it should compete and for what purpose it should compete.

• A.
Strategy
• B.
Organizational structure
• C.
Vision
• D.
Long-term objective

Question 9 of 25

A(n) _ is a limitation or deficiency in one or more of a firm’s resources or capabilities relative to its competitors that creates a disadvantage in effectively meeting customer needs.

• A.
Weakness
• B.
Threat
• C.
Marginal resource
• D.
Competitive limit

Question 10 of 25

To a large extent, attitudes at the corporate level reflect the concerns of

• A.
Stockholders and society at large
• B.
Top managers
• C.
The CEO
• D.
The federal government

Question 11 of 25

____ occurs in oligopolistic industries where the direct effect of extensive government intervention creates a global competitive climate.

• A.
Industrial clustering
• B.
Cost globalization drivers
• C.
Regulated competition
• D.
Political competition

Question 12 of 25

The transfer by firms of the full production process of a particular product to a single, low-cost location and the export of the goods to various consumer markets is:

• A.
Product specialization
• B.
Industrial clustering
• C.
Value chain reengineering
• D.
Value chain disaggregation

Question 13 of 25

___ are strategies that involve making changes in products and services, policy adjustments, business positioning, and expectations for success.

• A.
Externalization strategies
• B.
Adaption strategies
• C.
Innovation strategies
• D.
Variation strategies

Question 14 of 25

__ is a historically popular technique through which managers create a quick overview of a company’s strategic situation—it is based on achieving a sound fit between internal resources and the external situation.

• A.
Value chain analysis
• B.
SWOT analysis
• C.
External analysis
• D.
Internal analysis

Question 15 of 25

________ is a firm that operates in a number of countries, and adjust its products and processes in each, at high relative cost.

• A.
Multi-national
• B.
Global company
• C.
Joint Venture
• D.
BRIC

Question 16 of 25

Which responsibilities reflect the company’s notion of right and proper business behavior?

• A.
Economic
• B.
Discretionary
• C.
Legal
• D.
Ethical

Question 17 of 25

The risk from politically induced actions and policies initiated by a foreign government that global organizations encounter is:

• A.
Global Risk
• B.
Political Risk
• C.
Legal Risk
• D.
Economic risk

Question 18 of 25

Which of these refers to the moral principles that reflect society’s beliefs about the actions of an individual or group that are right and wrong?

• A.
CSR
• B.
Social audit
• C.
Ethics
• D.
Utilitarian approach

Question 19 of 25

_____ consists of the full range of tangible and intangible benefits that a company provides to its customers (stakeholders).

• A.
Global strategy
• B.
Value proposition
• C.
Market participation
• D.
Core strategy

Question 20 of 25

The extent to which a company sources from different locations and has located key parts of the supply chain in optimal locations around the world is:

• A.
Globalization of distance presence
• B.
Globalization of market presence
• C.
Globalization of the supply base
• D.
Globalization of the capital base

Question 21 of 25

______ occurs as a result of a relative competitive advantage that is created by the industry itself.

• A.
Regulated competition
• B.
Cost globalization drivers
• C.
Political competition
• D.
Industrial clustering

Question 22 of 25

The major drivers of unethical business behavior include

• A.
corporate cultures that put the bottom line ahead of ethics, heavy pressures on company managers to meet or beat performance targets, and overzealous or obsessive pursuit of wealth accumulation, power, status, and other selfish interests.
• B.
an aversion to ethical correctness on the part of top executives and a belief that unethical behavior is unimportant and probably won’t be discovered.
• C.
widespread managerial belief in the ethical relativism school of thinking.
• D.
pervasive managerial immorality and a general lack of scruples on the part of top executives regarding how customers and suppliers should be treated.

Question 23 of 25

_______________describes a firm’s intention to change or adapt its core (domestic) business model to achieve a competitive advantage as the firm engages in globalized operations.

• A.
Market participation
• B.
Core strategy
• C.
Global strategy
• D.
Value proposition

Question 24 of 25

A strategy is a company’s

• A.
Long-term objective
• B.
Value statement
• C.
Pricing policy
• D.
Game plan

Question 25 of 25

Influential individuals and groups that are vitally interested in the actions of the business are called

• A.
Stockholders
• B.
Strategists
• C.
Customers
• D.
Stakeholders

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