Exam 9: Control of Global Business

Organizational_____ involves implementation of a different business or cultural path for an organization.

__________ involve establishing specific goals on given metrics and then measuring to what extent these goals have been achieved at certain time intervals.

The large oil exploration company, Anadarko Petroleum Corporation, takes a(n)______ toward strategy formulation, placing a very clear emphasis in strategy formulation upon how its business decisions will help deliver and ongoing and competitive rate of return to its owners.

Hershey Corporation has assiduously expanded and extended its business by developing new products and increasing global reach, but it has done so in a very careful manner, avoiding undue risks and protecting its existing business operations. This is an example of Miles' and Snows' _____ typology.

Starbucks Corporation takes a(n)______ approach toward strategy formulation, because it places considerable emphasis upon how its business decisions affect its customers and the neighborhoods and communities where it does business.

In the banking industry, a particular bank's efficiency ratio is a closely monitored metric. If one bank can achieve a profit of $2 million per year with 90 employees, and another bank needs to employ 200 employees to achieve the same level of profits, the first bank's employees are more efficient than the second. Which of the following output controls and measurement is the banking industry using?

_______ refers to the personality of a given organization, its shared norms and values.

_______ are one to three year plans formulated for implementing strategic goals.

Many times, organizational change in a business is most effective when pushed from the top by the company's middle-level managers.

It is predicted that by 2014, at least_____ percent of books being sold will be digital "e-books."

___________ involves executives engaging in personal contact with subordinates as a way of managing an organization

Michael Dell, the founder of Dell Corporation, interacted directly with every single employee during the early days of the company. Michael was practicing _____ control.

When R&D discoveries in the United States operations of Toddler Toys, Inc. (TTI)can easily be communicated to and accepted by its operations in Ghana, it is an example of TTI's absorptive capacity.

A special cake recipe from a family member that calls for "a pinch of this" and "pinch of that" is an example of _____.

________ are organizations that implement a basic market strategy of concentrating upon existing operations and defending their home turf.

Organizational culture can be a very effective control mechanism for an organization, particularly when the norms of a given business's culture are fully accepted by that organization's workforce.

Blackford Industries, Inc. was established in 2004 by Jeanna and Sean Blackford. The company produces a wide array of restaurant equipment and supplies for restaurant owners throughout the United States. This company has grown substantially year after year since its inception. It attributes its success to having extensive knowledge of the industry it serves. Both owners have advanced culinary degrees from prestigious colleges and feel they understand the needs of their clients thoroughly. Blackford Industries, Inc. is led by clearly defined guidelines established by its owners. The company's philosophy is one of caring for and about each customer. Blackford is known for treating each of its employees as if they were members of their family. Its business practices are honest and trustworthy. The company demonstrates its high level of integrity with each of its business dealings. Sean and Jeanna are currently considering expanding their business into the European marketplace as this market is fairly unexplored by competitors with American restaurant supplies. They see the vast potential of this market and are aware of the challenges such a decision presents to them. The decision about the company's international expansion will be made by the end of this year. -According to Professors Raymond Miles and Charles Snow, under which of their classifications would Blackford Industries, Inc. must likely fall?

A rule that all employees in the organization (including the CEO)must fly coach when they travel on commercial airlines represents a consistent _____ control within an organization.

A(n)_____ plan for Wal-Mart might be to build and open a textile manufacturing plant in China within the next two-and-one-half years.

The ______ model of strategy formulation model that believes that businesses exist to benefit not just their shareholders, but also all the various groups such as employees and customers that have a meaningful stake in their operation.