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ADMS 1000 FINAL EXAM REVIEW
Chapter 7 - COMPETITIVE & TECHNOLOGICAL FORCES
Compare & contrast the 4 different stages of the industry lifecycle model.
(1) Intro
-high fragmentation
-uncertainty about the market
Phase
-high degree of innovation
-many small competitors
-lots of R&D
-customers willing to pay a premium (to own 1st)
-lack of legitimacy
(2) Growth
-dominant design
-shakeout (weak firms exist the market)
Phase
-products appeal to wider market
-economies of scale
-lower prices
-growing sales
-new entrants
(3) Maturity
-Slow growth
-Lots of competitors
Phase
-Competition intensifies
-Profitability
-Price-conscious consumers
-Incremental improvements (“new and improved”)
-Lots of advertising
-Price wars
(4) Decline
-Declining sales due:
Phase
^Changes in demographics
^Shifting consumer tastes
^Technological substitution
-Rivalry heats up
Alternatives to Manage Decline Phase: LEN-CH
1. Leadership Stance Maintained
2. Exit Early
3. Niche Strategy
4. Consolidate
5. Harvest Profits
Identify & describe the key drivers of industry evolution.
(1) Demand Growth (2) Creation & Diffusion of Technology & Knowledge (Technological Innovation)
Analyze how competitive forces change during the lifecycle.
During the INTRO, competition can be different depending on the industry; there are many small competitors.
During the GROWTH, a strategy is established and competitors started to exist the market. During the MATURITY,
there’s slow growth and competition intensifies in the market. During the DECLINE, decline in sales & companies
try to use ads to attract consumers & stay ahead.
Identify & explain the key success factors for organization at each stage of the industry lifecycle.
(1) Technological & regulatory changes or breakthroughs creating opportunities for new industries to emerge, with
an uncertain future. (2) Market focuses on a dominant design which est. dominance in a product class. (3) Growth in
aggregate demand beings to slow down, markets become overloaded with few adopters, which intensifies
competition. Surviving firms as the industry enters a period of relative stability. (4) Sales drop & rivalry heats up.
Need change in demographics, shift consumer preferences, or technological substitution.
Identify & explain different types of innovation.
(1) Radical Innovations = explores new technology with big risk. Dramatic change with the transformation of
current market, or creates its own.
(2) Incremental Innovations = small changes, little done at a time with little risk. This cuts costs or gives
improvements to existing products/services.
Compare & contrast the relationship between technological evolution & industry evolution.
Technological Evolution = innovations made to get competitive advantage in market
Industry Evolution = industry lifecycle model (4 stages)

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Describe the key features of technology lifecycle models (technological S-curves).
TLC = commercial gain of a product through the expense of R&D phase, & financial return during its “vital life.”
TLC associated with a product or technological service is different from product life cycle. The latter is concerned
with the life or a product in the marketplace with respect to timing of intro, marketing measures & business costs.
Patents & trademarks help to protect the TLC & to maximize the profit from it.
Discuss the concept of technological S-curves (TLC).
Technology’s performance evolves slowly in the beginning, at some point a breakthrough happens & it improves
rapidly, & then limits of what is scientifically possible is reached & performance doesn’t increase much.
Examine business process redesign & its connection to technology.
Complete overhaul of a key business process with the objective of achieving a quantum jump in performance
measures such as return on investment, cost reduction & quality of service. Business processes that can be
redesigned encompass the complete range of critical processes, from manufacturing & production, to sales &
customer service. 2 Criticisms: (1) May have large # of job layoffs, (2) Assumes that faulty business processes are
main reason for company’s poor performance or under performance.
Chapter 8 – GLOBAL FORCES
Definition of globalization. What are the pull factors & push factors that encourage global activity?
Globalization-process involving: integration of national economies, single world economic system, expansion of
cross border transactions, growth in direct foreign investment across the world, shift to economic interdependence.
Pull Factors-potential for sales growth, obtaining needed resources
Push Factors-creates environment to compete successfully: force of competition, shift toward democracy, reduction
in trade barriers, improvements in tech
What are the channels or examples of global business activity? J SOLD ME
J = Joint Ventures & Strategic Alliances
S = Subsidiaries
O = Outsourcing
L = Licensing & Franchising
D = Direct Investment in Foreign Operations
M = Mergers & Acquisitions
E = Exporting & Importing
What is a multinational corporation? What are the benefits & threats to a host country?
Multinational Corporation = Business enterprises that control assets, & so on as it affiliates in 2 or more foreign
countries. MNC generates products/services through its affiliates in several countries & maintains control over their
operation, managing from a global perspective.
Benefits
Risks
(1) Encourage Economic Development
(1) MNCs have no allegiance to the host country
(2) Offer Management Expertise
(2) Profits are returned to the home country
(3) Introduce New Technologies
(3) Decision-making can be highly centralized
(4) Provide Financial Support, More Resources
(4) MNCs can be difficult to control
(5) Create Employment
(6) Encourage International Trade
(7) Bring Countries Closer Together
(8) Facilitate Global Cooperation
What is trade protectionism? Explain with examples.
Trade Protectionism = protecting a country’s domestic economy & business by restriction on imports.
Prevents: (1) Low priced foreign goods entering & taking business away (loss of sales & jobs)
(2) Importing > Exporting = trade deficit (money flows out the country)

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What is NAFTA? What are the pros and cons of NAFTA for Canada?
NAFTA - North American Free Trade Agreement (no barriers between Canada, US, Mexico)
PROS
CONS
(1) Increases in trade & exports
(1) Increases in foreign imports, competing with Canadian goods
(2) Increases in GDP
(2) Increases in trade only due to Canadian low dollar, not
(3) Creates synergies between 3 countries that
NAFTA
“go beyond economic prosperity”
(3) Canada still trades mainly raw materials/natural resources, not
(4) Foreign competition forces domestic
technology-based exports
companies to improve products, processes &
(4) Too dependent on trade with U.S.; still need to improve trade
customer service to be more competitive
with other nations globally
(5) Forces countries to reduce/abolish
(5) Canadian companies cannot compete against U.S. and other
inefficient operations & to direct efforts where
larger international companies
they can obtain a competitive advantage
(6) Jobs are being lost to Mexico where there are cheaper wages.
(6) Canadian culture is supported (eg. music
(7) Canadians lose jobs when U.S. companies decide to shut down
royalties)
in Canada and now just ship goods directly from the U.S. across
(7) More choice of goods/services
the border tariff-free
(8) Less expensive goods/services
(8) American companies will focus on “American” culture, and
(9) Less (or no) taxes/tariffs on imported goods will indirectly discourage Canadian culture by having a dominant
(10) Allows a free & open market
presence
(9) Canada will become an “economic subsidiary” of the U.S.
(10) NAFTA hasn’t caused an increase in productivity
Chapter 9 – POLITICAL FORCES
What are the 3 roles of government?
(1)Tax Collector (2)Business Owner (3)Regulator
What is a bailout and what is a subsidy?
Bailout - act of financial help to failing business/economy to save it from collapse
Subsidy - sum of money granted by the govt to assist an industry/business so that the price of a commodity/service
may remain low or competitive
Why were Crown corporations formed? What is their purpose?
Crown Corporations-govt owned business. Established to implement public policy including protecting or
safeguarding national interests. Protect industries deemed to be vital to the economy. Provide special services that
couldn’t otherwise be made available by private business. Nationalize industries that are considered to be “natural
monopolies,” including the generation & distribution of electricity.
What are the arguments for & against government being the ‘Guardian’ of business?
FOR
AGAINST (BAD COF)
(1) Nurture Young Industries
(1) Benefits Only a Few = not all businesses get a loan
(2) Encourage Foreign Direct Investment
(2) Promotes a Political Agenda = give $ to those who
support the party
(3) Maintain a Favorable Balance of Trade = Export
(3) Creates Dependency = businesses might always ask
more than import
for help
(4) Protecting Against Unfair Global Competition =
(4) Undermines Public Confidence in Politicians
Don’t want foreign companies to VS domestic
(5) Maintain Adequate Lvls of Domestic Employment = (5) Contrary to Free Open Market = open market, govt
Keep unemployment low
would interfere
(6) Offering Subsidies to Compete Globally
(6)Creates Uneven Playing Field = unfair to some
industries/businesses

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What is deregulation? Compare deregulation of the electrical & transportation industry. What is similar & what
is different?
Deregulation-involves a reduction in the # of laws/regulations affecting business activity. Also suggests a reduction
of the powers of govt enforcement agencies & other forms of govt control or influence.
What is privatization? What are the reasons for government privatizing?
Privatization-transferring a govt owned business to the private sector
(1) Belief in the power of competition as a control mechanism
(2) Belief the private business can operate more efficiently
(3) No longer need public involvement in some sectors
(4) Financial benefits from selling govt owned assets
What are the challenges for government in going private?
(1) Stakeholders & Objectives = conflicting ideas when going private, effecting cooperation
(2) Employees’ Objectives = increase in disagreements & strikes that occur against
(3) Public’s Objectives = possible bring higher rates & safety concerns
Chapter 10 – SOCIETAL FORCES
List 10 stakeholders of an organization & what can be their needs or interest in the organization?
Owners, Managers, Employees, Competitors, Suppliers, Customers, Future Generations, Environment, Unions,
Government
What makes a corporation socially responsible? Consider the 4 levels of responsibility as part of your answer.
*ALL need to be met to be CSR
Economic Responsibilities-society requires these responsibilities (generate profits & minimize costs)
Legal Responsibilities-society requires these responsibilities (comply with laws: employee, environment, rights….)
Ethical Responsibilities-society expects these responsibilities (be fair & acceptable)
Philanthropic Responsibilities-society desires these responsibilities (help & better society)
What are the arguments for & against CSR?
For CSR (BR SSS)
Benefits = CSR has long term benefits
Resources = Business has the power & resources to do
good
Societal Expectations = Business should conform to
societal expectations
Strategy = CSR is a practical strategy
Stakeholders = Business must acknowledge its network
of stakeholders

Against CSR (CRAM B)
Costs = Costs of CSR are passed to customers
Rules = Business plays by its own rules
Accountable = Business cannot be held accountable
Morality = Business cannot dictate morality
Business is Business = Needs to make profits, nothing
more

Chapter 11 – SUSTAINABILITY (p.408-409; p.426-433 only)
What is sustainability & sustainable development?
Sustainability-maintain a certain level
Sustainable Development-development that meets the needs of the present without compromising the ability of
future generations to meet their own needs
Explain the Triple Bottomline Framework.
Sustainability reporting tool to assess the combined social, economic, environmental performance in an org.

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What is the business case for Sustainability? Discuss all benefits.
(1) Reducing Costs = reducing packaging, lowering energy use, reduce waste
(2) Reducing Risks =
(3) Improving Public Relations = better image for corp.
What are the obstacles for change? Why might it be difficult for business to implement sustainable practices?
Time (already challenging running a business, focus on core goals & hiring minimal work), Money (initial costs &
costly setups) & Lack of Knowledge (Integrating new models & concepts). Different stakeholders might not approve
of the changes occurring, it might not bring as much profit to the business & it can be very costly and timely.
Chapter 12 – CONFRONTING CHANGE
What are the forces of change? PETS CG
PETS CG = Political (new regulations, acts), Economic (unemployment, rates, inflation), Technological (easier
productions), Societal (consumer preferences), Competitive (approaches to get improvements to compete), Global
(mergers & worldwide expansions)
What are the types of change?
(1) Developmental Change-improves existing skills, methods, performance standards
(2) Transitional Change-requires organization to depart with old methods, and replaces what exists with something
completely new
(3) Transformational Change-transforms current state to future one drastically, risks being taken, unknown
outcomes, culture & employee behavior must change for it to be successful
What are the methods of change?
Theory E (Economic Change)
-Short term
-Creates shareholder value
-Changes org. structures & systems
-Top Driven
-Performance bonuses
-Personnel reductions
-Asset sales
-Strategic restricting of units

Theory O (Organizational Change)
-Short to Long term
-Develops org. capabilities
-Develops org. culture that supports, learning & high performance employees
-Participative
-Flatter Structure
-Increases bonds between org. & employees
-Commits employees to change

What is a learning organization?
An organization that encourages the learning of all its members, & consciously transforms itself & its context.
Involves: adapting to its environment, learning from its people, contributes to the learning of the wide community.

Compare single-loop learning versus double-loop learning.
Single Loop Learning (Short Term)
Double Loop Learning (Long Term)
-Error detection & correction
-Considers the underlying system
-Deals with the “symptoms”
-Goes to the source of the problem & deals with the root
-Doesn’t consider underlying causes
causes
-Addresses the current problem
-Maintains org. status quo

-Aims to change the status quo
-Promotes innovation
-Modifies underlying policies

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How do organizations encourage & discourage change?
-Bureaucracies & Roles/Institutionalization (Centralization)
-Cognitive Scripts (Based on situations & behaviors)
What is the tipping point and what are its 3 rules?
Tipping Point Leadership-understanding change
(1) Law of the Few-ppl have good attitude & are social (big influences for change)
(2) Stickiness Factor-change occurs because the idea is memorable (impacts/influences ppl)
(3) Power of Context-ppl socialize which can have a factor in learning & change

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