Final Exam MCQ's-Practice
DepartmentGlobal Management Studies
Course CodeGMS 200
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PRACTICE QUESTIONS WITH ANSWERS
1.The key result of achieving a competitive advantage is __________.
A.An ability to sidestep government regulations.
B.An ability to consistently do something of high value which one’s competitors cannot
replicate quickly or do as well.
C.An ability to drive the competition out of business and to make extraordinarily high profits.
D.An ability to establish a monopolistic market position.
E.An ability to dictate consumer needs and preferences.
2. The two levels of culture in organizations are __________.
A.Strategic and operational.
B.Functional and dysfunctional.
C.Observable and core.
D.Core and environmental.
E.Rites and rituals.
3. According to Harvard scholar Michael Porter, the ultimate goal for any business should be
A.Maximum wealth creation.
B.Maximum market share.
E.Total customer satisfaction.
4. __________ is the worldwide interdependence of resource flows, product markets, and business
competition that characterizes the new economy.
5. The characteristics that are typically associated with entrepreneurs include all of the following
a.Internal locus of control.
b. High need for achievement.
c.Intolerance for ambiguity.
d. Action orientation.
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6. Setting objectives and determining what should be done to accomplish them is the essence of the
management function of __________.
7. Planning facilitates control by defining the objectives and __________.
a.Identifying the specific courses of action to be taken.
b. Creating specialization among the workers.
c.Improving organizational structures.
d. Developing the human resources.
e.Motivating the workers.
8. The purpose of controlling is to __________.
a.Motivate employees to work overtime hours.
b. Make sure plans are achieved and that actual performance meets or surpasses objectives.
c.Define a plan of action for the organization.
d. Coordinate resources and task performance.
e.Develop a hierarchy of objectives for lower-level managers.
9. A comprehensive plan of action that identifies long-term direction for an organization and guides
resource utilization to accomplish an organization’s goals with sustainable competitive advantage
is known as the __________.
d. Operating objectives.
10. __________refer(s) to an organization’s basic reason for existence in society.
b. Competitive advantage.
11. A(n) ____________ involves an assessment of organizational strengths and weaknesses as well
as environmental opportunities and threats.
a.Organizational objectives analysis.
b. SWOT analysis.
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