05 - ADM1100 Lecture 5 Test Practice (Teymouri) PDF

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Lecture 5 fall 2020 practice material for test. Prof Teymouri....

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Question 1 (1 point) Saved "At HBC, we have a tremendous sense of responsibility, not only to the continued growth and success of our company, but also to the nation that we have been instrumental in building. Our culture is grounded in a commitment to take into account the social needs and issues impacting the communities where we do business." This statement relates most closely to which component of a mission statement? Question 1 options: products or services customers concern for public image philosophy

Question 2 (1 point) Saved The mission statement of Cirque du Soleil states, "We are united by one overriding goal: to entertain, uplift, and enlighten audiences the world over." This statement relates most closely to which component of a mission statement?

Question 2 options: markets customers concern for public image philosophy

Question 3 (1 point) Carly's Car Care has just found out that a new competitor is opening a few doors down in a prime location. The competitor will feature the very latest in car washing technology at competitive prices. The new competitor represents which of the following for Carly? Question 3 options: Opportunity weakness threat risk

Question 4 (1 point)

Helen, the owner of Crazy Cupcakes, is conducting a SWOT analysis of her company to find out where she can improve her business and to identify possibilities for expansion. Which of the following represents an opportunity for expansion? Question 4 options: There has been a trend toward personalized cupcakes for a variety of occasions. The production process was found to be highly efficient, and wastage was kept to a minimum. In a taste test, Crazy Cupcakes products ranked higher than competitors in the taste and texture segments. The prices of flour and sugar have gone down in the last six months.

Question 5 (1 point) Cindy's Cosmetics continues to offer the same high quality beauty products that it has for the last 10 years. The company is successful in its market segment and has no plans for change in the near future. The company is pursuing which type of strategy? Question 5 options:

integration stability retrenchment concentration

Question 6 (1 point) BIC is the world's largest producer of ballpoint pens. The market for ballpoint pens remains steady, but prospects for future growth are limited as new innovations in writing technology are expected to emerge. According to the BCG matrix, ballpoint pens are a ________ for BIC. Question 6 options: question mark sleeping giant cash cow star

Question 7 (1 point)

The global leader in the cigarette lighter business is French company BIC, but the market is expected to decline in coming years as fewer people take up smoking. Realizing these factors, Gillette decided to sell its Cricket lighter division to Swedish Match. According to the BCG matrix, Gillette viewed Cricket as a ________. Question 7 options: question mark sleeping giant cash cow dog

Question 8 (1 point) Kiva Systems, manufacturer of robots used in flexible automation systems, demonstrates the power of ________ by "teaching" its robots to dispose of used cardboard and to assist in gift wrapping for e-commerce warehouse fulfillment. Question 8 options: design thinking

competitive advantage strategic flexibility first-mover strategy

Question 9 (1 point) According to our textbook, effective customer service strategies involve giving the customer what they want, effective communication, and ________. Question 9 options: providing employees with incentives and bonuses for good service providing employees with customer service training having detailed policies and procedures in place promoting an entrepreneurial culture

Question 10 (1 point) Which of the following is most likely to use Internet-based knowledge systems to provide rapid online responses to service requests from customers in a broad market?

Question 10 options: cost leader differentiator Focuser first mover

Question 11 (1 point) Electronics retailer Best Buy sells merchandise through both its website and its physical store locations. They are using an e-business strategy called ________. Question 11 options: bricks-and-mortar first mover lick-and-save clicks-and-bricks...