MGMT 303 Week 4 Midterm Exam

1. Question : (TCO 1) In the National Football League, the promotional ads are a(n) _____ resource.

international physical informational financial human Question : (TCO 2) The Ford Motor Company sold an auto parts company because profitability was low. The main environmental dimension considered was sociocultural. technological. economic. political/legal. domestic. 3. Question : (TCO 3) Identify the statement below that is NOT one of the arguments offered in favor of social responsibility. A business should fix the problems it creates. Businesses have resources needed to solve some social problems. Corporations have many of the same obligations and privileges as private citizens. A business is a partner in society with the government and the general population. Business executives are uniquely qualified to make decisions such as these. 4. Question : (TCO 4) Which of the following is usually the first type of international business in which a company gets involved? Licensing strategy Joint venture Importing/exporting strategy Direct investment Global sourcing 5. Question : (TCO 5) When dealing with the strategic planning for an organization, the _____ is the single most important individual in the planning process. chief executive officer chief legal counsel head of planning task force chief financial officer vice president of planning 6. Question : (TCO 6) Which is the most popular source of funds for a small business? Bank loans Personal financial resources Money from venture capitalists Issuing stock in the business 7. Question : (TCO 1) What are the functions of a manager? If you had to pick one as being the most important function, which would it be and why? 8. Question : (TCO 2) Explain the differences among mergers, acquisitions, and alliances. 9. Question : (TCO 3) Briefly explain the four different approaches to social responsibility that an organization can adopt. 10. Question 10. Question : (TCO 4) What are the connections between GATT and the WTO? Explain the role of the WTO. 11. Question : (TCO 7) Briefly describe the behavioral model of organizational design. 12. Question : (TCO 4) Identify and describe three different ways that a firm can go global. 13. Question : (TCO 5) Briefly describe each of Porter’s competitive (generic) strategies, and give an original example of how a firm might use each strategy. 14 Question : (TCO 6) A new business can be started either from scratch or by buying an existing business. Which method seems best to you? Explain your answer. 15 Question : (TCO 7) Briefly describe the matrix form of organization design. List its advantages and disadvantages. This structural form is most likely to be used under what conditions?