BUS 321 OER Exam 2 Review

This strategy is the broadest and involves decisions about growing, maintaining or shrinking very large companies

Porters five forces include all of the following except:

Culture can be defineds as the collective programming of the mind.

Manufacturing companies tend to group people into units based on their expertise. This is called _______.

The S and the W in the SWOT analysis represent EXTERNAL factors.

Companies cannot control the development of the informal organization.

The value chain consists of two things: suppliers and buyers.

A ____ strategy is concerned with increasing a company's size, revenue, market share, or geographic reach.

This is the first step most firms take in going global in which they sell their goods to customers in another country.

The L in PESTEL stands for what?

A formal document that describes a new business in detail and exactly how it will be carried out is called a ___.

This acronym represents the process of a company purchasing a new facility or building in another country

The ability to function and manage behaviorally in culturally diverse settings is called what?

The SWOT analysis is a type of ______ scanning.

Ford Motor Company uses a __________. It has divisions for the Mustang, the Bronco, and the Expedition.

In some countries, individuals readily accept their position in society. What does Hofstede call this dimension?

Setting performance standards based on those of a superior competitor in your industry is called ___________.

In class, I talked about my Father who created a new fastener while worked at Caterpillar. It was patented. He was a/n _

The process of setting up org structures to address the needs of the org is called ______.

The business plan is commonly used by entrepreneurs to find financing for their idea.

This type of structure is associated with the corporate ladder and high power distance.

Hurricanes, hikes in interest rates, and inflation are examples of ____ factors.

The _____ environment includes both internal and external components.

The PESTEL analysis helps managers consider many distinct categories in the macro environment.

Americans often embrace risk, making them low in what, according to Hofstede.

The first step in the strategic management process is Vision and mission and the last step is implement strategies.

Strategic objectives are the general description of how the firm will try to accomplish its vision.

Dogs are the worst performers on the BCG matrix and ______ are the best performers.

Amazon has a ____ because it attracts more customers, earns more profit and pays shareholders more than other retailers.

Enterprise, Budget, Thrifty and Hertz are all companies that offer similar products. They are in the same __________.

Mechanistic structures feature a tall hierarchy and were popular following the industrial revolution.

____ financing comes from borrowed money. ___ financing comes from selling stock.

The protection of intellectual property rights would fall under which letter in the PESTEL analysis

The offical set of relationships, responsibilities and connections defined by the organization are called the _________.

Aldi's uses a differentiation strategy to compete with other grocery stores.

The primary disadvantage of a matrix structure is that middle managers report to two different bosses.

The countries of the world are becoming more interconnected, and trade barriers are disappearing. This is called ___.

When governments agree to get rid of cross-border barriers to promote global integration and trade. This is called a ___

_____________ Change Model proposes the sequence: Unfreeze, Move, Refreeze

In the SMART goal acronym, the "M" stands for what?

_________ are includes things like land, equipment, and cash a company has. ________ include the things a company can do

Someone who works in a foreign country for an extended period of time is called an expatriate.

When top managers and executives make all of the decisions for a company, that company is centralized.

Someone who lives and works in a country that they are not from is called a/an _______.

The most difficult change to make in any company is a _______ change.

The vision statement is typically broader than the mission statement.

A corporate strategy is the broadest level of strategy, concerned with decisions about growing & maintaining the company

The BCG matrix measures market share and market _____.

A person who takes the risk of starting a business to make a profit is called a/an ______?

What are employees working in a foreign country called?

The final step in the strategic management process is ______________.

This structure is most common in tech industries and involves empowering individuals across the firm to make decisions.