Question 1: The United States Congress could represent the __________ form of stakeholders.

A. political action groups

B. supplier

C. government

D. shareholder

Question 2: __________ is the process of taking a creative idea and turning it into a product or process that can be used or sold.

A. Technology

B. Innovation

C. Invention

D. Discovery

Question 3: Which of the following best describes the competitive advantage perspective that looks at the impact of external factors?

A. Resource-based view

B. Guerilla view

C. Industrial organization view

D. Environmental view

Question 4: Ethics can be defined as:

A. the obligation of organizational decision makers to make decisions and act in ways that recognize the interrelatedness of business and society.

B. the intentional and ongoing actions of an organization to continuously transform itself by acquiring information and knowledge.

C. the rules and principles that define right and wrong decisions and behavior.

D. making decisions and implementing strategies that allow an organization to develop and maintain a competitive advantage.

Question 5: __________ include all financial, physical, human, intangible and structural/cultural assets used by an organization to develop, produce and deliver products or services to its customers.

A. Investments

B. Capabilities

C. Vulnerabilities

D. Resources

Question 6: A __________ statement is a statement of what specific organizational units do and what they hope to accomplish.

A. vision

B. strategy

C. technology

D. mission

Question 7: The following are all components of an organizational vision EXCEPT:

A. a strong connection to the organization's core values and beliefs.

B. strategy based on the results of a focus group.

C. elaboration of a purpose for the organization.

D. summary of the organization's operations or what it does.

Question 8: Purchasing and sending electronic greeting cards through a web site could represent a(n) __________ for a traditional greeting card company like Hallmark.

A. organizational change

B. stable vision

C. physical change

D. product innovation

Question 9: __________ view proposes that an organization's competitive advantage is temporary and can be gained only by peppering the competitive marketplace with rapid radical surprises.

A. Resource-based

B. Guerilla

C. Industrial organization

D. Environmental

Question 10: Companies such as Google and Apple are finding that they can achieve a sustainable competitive advantage with:

A. physical assets.

B. physical distance.

C. non-physical assets.

D. vanishing distance.

Question 11: Ms. Gibson has come up with the idea of offering free house painting if the job is not completed within the time agreed. Which of the following best describes the competitive advantage perspective that Ms. Gibson is proposing?

A. Resource-based view

B. Guerilla view

C. Industrial organization view

D. Environmental view

Question 12: An example of ethical behavior by an organization would be:

A. a chemical company dumping toxic waste into a lake.

B. a cigarette manufacturer that fails to warn potential consumers about the hazards of tobacco.

C. a toy company that makes products that might be life threatening.

D. a company that develops a fund-raising campaign that would help its primary consumer group.

Question 13: The __________ should elaborate a purpose for the organization.

A. vision

B. competitive strategy

C. mission

D. strategy

Question 14: Which of the following is a characteristic of a world-class organization?

A. An authoritarian climate

B. A strong customer focus

C. A functional organization structure

D. A strong marketing department

Question 15: __________ is the ability to combine ideas in a unique way or to make unusual associations between ideas.

A. Resourcefulness

B. Strategic focus

C. Creativity

D. Interactivity

Question 16: Corporate social responsibility (CSR) is the obligation of __________ to make decisions and act in ways that recognize the interrelatedness of business and society.

A. society

B. stakeholders

C. community

D. organizational decision makers

Question 17: The three components that form the three critical success factors include:

A. the ability to embrace change, creativity and innovation capabilities, and being a world-class organization.

B. strategy formulation, strategy implementation, and strategy evaluation.

C. corporate, functional, and competitive strategies.

D. durability, imitability, and efficiency.

Question 18: Change agents are:

A. manipulators that facilitate change to improve an organization's revenue.

B. those who initiate and oversee the change efforts.

C. the leader who single-handedly is responsible for an organization's success through authoritarian leadership.

D. All of the answer choices are correct.

Question 19: The competitive advantage perspective that focuses on structural forces within an industry, the competitive environment of firms, and how these influence competitive advantage is the __________ view.

A. industrial-organizational

B. resource-based

C. guerilla

D. environmental

Question 20: American Airlines starting an airfare war by drastically reducing prices is an example of a change in the __________ environment.

A. internal

B. external

C. resource

D. modified environment