Strategic Management - Study Mode

[#446] According to Schein (1985), what are the levels that make up a company's culture?
Correct Answer

(A) Artifacts, values, underlying assumptions, and behaviors

Explanation

Solution: According to Schein (1985), Artifacts, values, underlying assumptions, and behaviors are the levels that make up a company's culture. The first level is the characteristics of the organization which can be easily viewed, heard and felt by individuals collectively known as artifacts. The dress code of the employees, office furniture, facilities, behavior of the employees, mission and vision of the organization all come under artifacts and go a long way in deciding the culture of the workplace. The next level according to Schein which constitute the organization culture is the values of the employees. The values of the individuals working in the organization play an important role in deciding the organization culture. The thought process and attitude of employees have deep impact on the culture of any particular organization. What people actually think matters a lot for the organization? The mindset of the individual associated with any particular organization influences the culture of the workplace. The third level is the assumed values of the employees which can’t be measured but do make a difference to the culture of the organization. There are certain beliefs and facts which stay hidden but do affect the culture of the organization. The inner aspects of human nature come under the third level of organization culture. Organizations where female workers dominate their male counterparts do not believe in late sittings as females are not very comfortable with such kind of culture. Male employees on the other hand would be more aggressive and would not have any problems with late sittings. The organizations follow certain practices which are not discussed often but understood on their own. Such rules form the third level of the organization culture.

[#447] ____________ refers to the strategies and counter strategies of a firm that compete in a shared market place
Correct Answer

(B) Competitive gaming

Explanation

Solution: Competitive gaming refers to the strategies and counter strategies of a firm that compete in a shared market place. Competitive games are those in which players play against one another and where one player winning means another player loses. Two player games are often competitive, with a distinct win-or-lose outcome.

[#448] ____________ is also referred to as external strategic management audit
Correct Answer

(C) Industry analysis

Explanation

Solution: Industry analysis is also referred to as external strategic management audit. An industry analysis is a business function completed by business owners and other individuals to assess the current business environment. This analysis helps businesses understand various economic pieces of the marketplace and how these various pieces may be used to gain a competitive advantage.

[#449] In order for a culture to generate success, what does it need to be?
Correct Answer

(B) Flexible and adaptive

Explanation

Solution: In order for a culture to generate success, Flexible and adaptive it need to be. Flexible and adaptive leadership involves changing behavior in appropriate ways, their experience, skills, values, and needs, and a leader's behavior.

[#450] Which of the following would a market-driven business most likely be?
Correct Answer

(D) Resourceful

Explanation

Solution: A market-driven business most likely be resourceful. Market-driven is defined as: “Firm's policy or strategy guided by market trends and customer needs instead of the firm's productive capacity or current products.”