exam 3 review - INTB 3350 Exam 3 Review Summer 2011 Exam...

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INTB 3350 Exam 3 Review Summer 2011 Exam Makeup Exam Date: Tuesday, July 5, 2011 Bring Blue Scantron, Pencil, and ID 50 multiple-choice questions Chapter 11- 8 Questions Chapter 12-8 Questions Chapter 13-7 Questions Chapter 14-7 Questions Chapter 15-8 Questions Chapter 16-8 Questions Videos- 4 Questions Chapter 11 Key Terms Strategy The actions that managers take to attain company goals Profitability The rate of return concept Profit growth The percentage increase in net profits over time Value creation Performing activities that increase the value of goods or services to consumers Operations The various value-creation activities a firm undertakes Organization architecture The totality of a firm’s organization, including formal organizational structure, control systems and incentives, organizational culture, process, and people Organizational structure The three-part structure of an organization, including its formal division into subunits such as product divisions, its location of decision-making responsibilities within that structure, and the establishment of integrating mechanisms to coordinate the activities of all subunits Controls The metrics used to measure the performance of subunits and make judgments about how well managers are running those subunits Incentives The devices used to reward appropriate managerial behavior Processes The manner in which decisions are made and work is performed within any organization Organizational culture The norms and value systems that are shared among the employees of an organization People The employees of an organization’ its recruiting, compensation, and retention strategies; and the type of people who work at the organization Core competence The skills within a firm that competitors cannot easily match or imitate Location economies 1
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[Type text] [Type text] [Type text] The economies that arise from performing a value creation activity in the optimal location for that activity, wherever in the world that may be found, at a cost advantage to the firm Global web When different stages of a value chain are dispersed to those locations around the globe where value added is maximized or where costs of value creation are minimized Experience curve Systematic reductions in production costs that have been observed to occur over the life of a product Learning effects Cost savings that come from learning by doing Economies of scale The reductions in unit cost achieved by producing a large value of a product Universal needs Arise when the tastes and performances of consumers in different nations are similar if not identical Global standardization strategy Pursuing a low-costs strategy on a global scale and increasing profitability and profit growth by reaping the cost reductions that come from economies of scale, learning effects, and location economies
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exam 3 review - INTB 3350 Exam 3 Review Summer 2011 Exam...

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