1 Sales of the high-end units have declined. The owners want Arnold, the CEO, to
ID: 370111 • Letter: 1
Question
1
Sales of the high-end units have declined. The owners want Arnold, the CEO, to increase revenues to previous levels. His first action should be ________.
A. to identify previous sales levels
B. to determine why sales are off
C. to compare costs for three new models under development
D. to immediately begin production on the lowest cost model
2
Belinda wants to introduce a new model to the product line. Three models are being developed. Belinda can choose only one. She has decided to focus on target market size, production costs, and net profits. These are Belinda’s ________.
A. alternatives
B. criterion weights
C. decision criteria
D. problems
3
Every fast food hamburger restaurant chain wants you to believe their product is the best because it is stored or prepared uniquely. Each of these is pursuing a ________.
A. low cost leadership strategy
B. differentiation strategy
C. focus strategy
D. quality strategy
4
Classy Clay has extremely creative employees who, in the opinion of the organization, keep the company ahead of the competition. The creativity of these employees would be classified as _________.
A. an internal weakness
B. an external opportunity
C. an external strength
D. an internal strength
5
BDO Company requires that all employees taking sick leave should bring a medical certificate from their doctor when returning to work. This is an example of a
A. single-plan use.
B. standing plan.
C. programme.
D. procedure.
6
Which of these is a method of management whereby managers and employees define goals for every department, project, and person and use them to monitor subsequent performance? A. Organizational planning
B. Management by objectives
C. Goal setting
D. Mission development
7 All of the following are advantages of a functional structure EXCEPT
A. economies of scale.
B. excellent coordination between functions.
C. in-depth skill specialization and development.
D. high-quality technical problem solving.
8 The matrix structure violates which of the following principles of management?
A. Unity of direction
B. Unity of command
C. Work specialization
D. Division of labour
Explanation / Answer
PLEASE FIND ANSWERS TO FIRST 4 QUESTIONS :
1.With a situation of declining sales in hand, first action the CEO would undertake would be to do a through root cause analysis. Only after analysing and understanding the root cause, the CEO can take appropriate corrective actions. Therefore correct answer would be “to determine why sales are off”
HIS FIRST ACTION WOULD BE TO DETERMINE WHY SALES ARE OFF
2. Belinda needs to create some points of reference which will help her to finally choose from one of the three models. The reference points in this case are market size, production cost and net profit which will help Belinda finally decide and zero on the final product. Therefore these are the relevant “Decision Criteria”
THESE ARE BELINDA’S DECISION CRITERIA
3. When a company tries to create an Unique Value Proposition of its product. It is trying to differentiate its product from its competitors in the market place in order to draw customer’s specific attention to the unique features of its product. This creates the company to attract and retain its target customers. Such adopted strategy is called “Differentiation Strategy”. Restaurant chains selling Hamburgers also follow such strategy by advertising about the uniqueness of its preparation style.
EACH OF THIS IS FOLLOWING A DIFFERNETIATION STRATEGY
4. Since Employee is an internal resource of a company, any strength of an employee should be categorized as internal factor. Since creativity adds value to a company, it should be considered as a “strength”. Therefore answer should be “d. an internal strength”
THE CREATIVITY OF THESE EMPLOYEES WOULD BE CLASSIFIED AS INTERNAL STRENGTH
HIS FIRST ACTION WOULD BE TO DETERMINE WHY SALES ARE OFF
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