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Midterm

Quizbowl for Midterm.docx

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Department
Business
Course
BU111
Professor
Leanne Hagarty
Semester
Fall

Description
Xlerate quizbowl  Which of the following is not one of the 6 critical success factors? o Meeting customers needs o Encouraging innovation and creativity o Hiring the best employees o Building quality products and services  Internally, the diamond e model connects: o Management preferences, organization, strategy and resources  Which of the following statements is true? o Pest measures the general environment, five forces measures the specific  Strategy in the diamond e model determines o Needed resources, organizational capabilities, management preferences  In pest, what do social elements for not influence? o DO INFLUENCE: How consumers live, work, consume and produce  Consumer preferences  Workers attitudes  Standards of business conduct  The lower the power of the supplier, the easier the industry is to enter o True  Some barriers for potential entrants into a new market include o Capital intensity, tech, know how  Which of the following is not a cause of rivalry among firms o Price wars between companies  do not cause, are a result of  Which of the following is true? o Almost all of Canadian businesses are “small” o Large businesses provide more jobs o A business is small if it has less than 75 employees  Raising capital with debt means o Interest and control  The 4 ethical norms are: o Rights, caring, utility, justice  Stakeholders provide businesses with the capacity to operate by providing them with: o Capital, revenue, human resources (capital = they invest, hr = employees, revenue = consumers) o Board of directors, capital, unions o Natural resources, purchases, safety  Screening weeds out bad ideas and ensures you have a viable idea with a competitive advantage but it wastes time and money o False  A stakeholder who has high potential for threat and low potential for cooperation is a o Non-supportive stakeholder o Greenville, MNC was initially supportive but became mixed blessing  Technology does not affect o Potential sales of businesses  Corporate social responsibility is o All of the above  A marginal stakeholder is one who o Has low potential for cooperation and threat and should be monitored  Monitor because they may change over time  Benefits for external analysis do not include o Time-efficiency  How are stakeholders best managed? o Determine the key stakeholders and their potential for threat and cooperation, formulate strategies and effectively implement them  Areas of social responsibility include o All of the above  The 4 approaches to social responsibility are o Obstructionist, accommodative, defensive, proactive  Economic facts influence costs, potential sales, and: o Exchange rates  make up economic factors o Trade balance  make up economic factors o Financial uncertainty o Internal policies  The entrepreneurial process is influenced by o Porters five forces o Diamond E model o PEST o All of the above  The entrepreneurial process is only successful when: o The entrepreneur, opportunity and resources match  Which of the following is not a critical success factor o Having balanced financial records  The first task of the diamond e model is o Management framework o Evaluating all 5 key variables o Organization- resource linkage o Management preferences- strategy linkage o None of the above  Which of the following is not a key variable in the diamond e? o Consumer
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