2008 sample quiz 1 (2007 Fall Quiz 1-03 ANSWERS-02)

2008 sample quiz 1 (2007 Fall Quiz 1-03 ANSWERS-02) -...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Managing in Complex Environments        Name:_________Answers _________________ Spring, 2007 Professor Atkin My lecture time is: _____ ID#________________________ Quiz #1            (Sample for Spring 2008) >>> Items in RED are “gimme’s” and we simply have to get them correct. . Actual performance on this set of question about 62% when it should be >90% 1. In this course, we assume firms… D a. are corporations b.  profit maximize c. both of the above d.  none of the above 2. To be successful, firms must…   D (the term “focused” in from Ch 3 stuff – you haven’t had it  yet) a. be focused   b. recognize the interest of all stakeholders equally c. both of the above d. none of the above 3. Profit is…   A a. revenue - expenses b.  the accumulation of wealth over time c. both of the above d.  none of the above 4. Transactions that cross internal but not external boundaries…  A a. are usually priced below market price but above the cost of production b. generate significant revenue and net income for the firm c. both of the above d. none of the above 5. As the number of drivers of environmental change increase, change becomes more rapid.   B a. true b.  false 6. The open systems hypothesis implies that publicly-traded corporations must report net income to the  SEC.   B a. true b.  false 7. Environmental change that is rapid is likely to …   B a. be large b.  increase the complexity of the environment c. both of the above d. none of the above 8. In the notes, the notes, I provide detailed examples of change in the domestic airlines and  banking industries.  Both of these are examples of the long run effect of…     B (also see q. 2  above) a. diversification and focus b.  deregulation c. both of the above d.  none of the above 9. As the complexity of the environment increases…   D a. the evaluation by the firm of alternative sets of actions becomes more difficult b. the likelihood of failure of existing firms increases c. the likelihood of new opportunities for existing firms increases
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 7

2008 sample quiz 1 (2007 Fall Quiz 1-03 ANSWERS-02) -...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online