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business
strategic management concepts and cases
Modern Management Concepts And Skills 15th Edition Samuel Certo, S Certo, S. Certo - Solutions
Describe the different types of corporate entrepre- neurship and provide examples of each. LO8
Discuss the opportunities that Steven AustinStovall observed in the local restaurant market.How did he evaluate and exploit thoseopportunities? LO8
How risky was Stovall’s move to change the entireconcept of the restaurant just one week after opening?What could have gone wrong? LO8
Describe Stovall’s entrepreneurial alertness. Howdid it help or hurt his business? LO8
Which management employability skill or skills didStovall demonstrate in this case? LO8
What kind of opportunity did Alli Webb identify?How did entrepreneurial alertness, informationasymmetry, and social networks shape hersuccess? LO8
What kinds of entrepreneurial risks has Webbfaced? How will greater competition affect the levelof risk? LO8
What role has financing played in Drybar’s success?What other sources of financing could Webb andher management team consider? LO8
Identify a specific opportunity in the marketplaceregarding drinks. It could be a new drink, a newline of drinks, a new type of retail outlet, or anothertype of opportunity. LO8
Evaluate this opportunity using feasibility analysis.In particular, focus on how customers mightrespond to the new opportunity, indicate howindustry competitors are already exploiting thisopportunity, and describe KFC’s ability to exploitthis opportunity. LO8
What specific steps should KFC take to exploitthis opportunity? Does the company have enoughmoney to follow your suggestion(s) easily, orshould the company pursue financing options? LO8
Describe the main components ofentrepreneurship. LO8
Distinguish among the different types ofopportunities. LO8
Is it important for you as a manager to understand the difference between leadership and management?Explain fully. LO6
Draw and explain the life cycle model of leadership.Would this model be useful to you as a manager?Why or why not? LO6
Would it be easy for you to be a servant leader?Why or why not LO6
Based on what you read, which type of leadership style is most closely associated with Bechek? Explain. LO6
Do you feel that Bechek should use more of a bosscentered or a subordinate-centered leadership style at Bain & Company? Why? LO6
If Bechek decided to use a transformational leadership style, what would you suggest he do in order to utilize this approach? Be specific. LO6
Which theory of leadership do you think best describes Jeff Bezos’s contribution to Amazon’s performance? Describe how it applies. LO6
Does Bezos create an environment in which you could contribute effectively as a manager? Explain. LO6
Do you think Bezos is a better leader or a better manager? Explain. LO6
How would you make the decision regarding whether or not to make the acquisition? LO6a. Simply make the decision and announce it.b. Make the decision but try to convince others it’s best.c. Present a tentative decision subject to change based on input.d. Present the dilemma and ask for input
Explain your answer to question 15-10. Be sure to focus on why you chose the option you did as well as why you did not choose the other options. LO6
.As a leader, would you find making this decision challenging? Why or why not?ee OE ee eee LO6
Ultimately, what would you decide? Whether you make the decision on your own or invite input, would the acquisition of the rival firm be made?Why or why not? LO6
What is the difference between the “situational approach” and the “trait approach” to leadership? Which approach seems to have more relevance to you as a manager? Explain. LO6
Given all that you've learned in this chapter, what kind of leader will you try to be as a manager? Explain. LO6
Describe the five steps involved in the strategic management process. In your opinion, which step is most important? LO1
Compare and contrast the different strategy formulation tools. In your opinion, which tool is best suited for large organizations? Explain. LO1
For Facebook’s managers, is acquiring a business such as Instagram a strategic management issue?Explain. LO1
Give three factors in Facebook's internal environment that managers should be assessing in determining the company’s organizational direction. Why are these factors important? LO1
Using the business portfolio matrix, categorize Facebook's recently acquired Instagram unit as a dog, question mark, star, or cash cow. From a strategic planning viewpoint, what do you recornmend Facebook managers do with Instagram, given this categorization? Why? LO1
Why is it important for Nucor to have a mission statement? How do the strategic decisions described in this case support Nucor’s mission? LO1
Using examples from the case, describe how Nucor’s managers can use critical question analysis to formulate a strategy. LO1
Which of the three generic strategies identified by Porter best describes Nucor’s strategy? Explain your reasons for choosing this strategy. LO1
Perform an environmental analysis for Newell Brands. Which segment of the environment is causing the company’s problem(s)?211 LO1
Based on this analysis, develop a mission statement for the company. Also, develop three objectives that will help the company fulfill its mission. LO1
Review Porter's generic strategies. Which one of these strategies would you recommend for Newell Brands? Explain. LO1
Which of the four strategy implementation skills do you think will be most important for the company as it moves forward? Why? LO1
Describe how an organization might use the BCG Growth-Share Matrix to evaluate its different strategic business units. Now, explain how an organization might use the GE Multifactor Portfolio Matrix to evaluate its strategic business units. LO1
Describe Porter’s generic business strategies and provide an example of each strategy. LO1
Describe Porter’s Five Forces Model. Why do organizations use Porter’s Model? LO1
In your local newspaper or a national publication like Bloomberg Businessweek or the Wall Street Journal, choose a company featured in the news. Analyze the company’s actions. In your opinion, how did competitive dynamics play a role in the company’s recent behavior? LO1
How can controlling help a manager to become more efficient? LO9
What is the value in having managers at the career exploration stage within an organization? Why?What about the decline stage? Why? LO9
How would you describe the significance of James Quincey’s work as a manager? Who benefits from his abilities and efforts? LO9
In terms of the contemporary view of management skill, which activities and skills do you see Quincey using in his role as CEO of Coke? How do you think he acquired those skills? LO9
Explain how Quincey has demonstrated the six management employability skills. Which employability skills are most important for becoming a CEO? Explain your answer. LO9
In starting their business, how have Rice and Suskind used the four functions of management? LO9
Discuss the use of organizational resources(human, monetary, raw materials, and capital) ina start-up like Doze Beds. What challenges would an entrepreneur face with each one? LO9
Which of Katz’s managerial skills (technical, human, and conceptual) do Rice and Suskind use most often? Why? LO9
Explain the relationships among the four functions of management. LO9
List and define five skills that you think you'll need as CEO of a company. Why will these skills be important in your CEO position? LO9
Explain the advantages and disadvantages of having a clan culture within an organization. As a manager, would this culture be hard for you to establish? Why or why not? LO2
List three challenges that a manager might face in appropriately socializing new employees into an organization culture. What advice would you give managers for how to meet these challenges? LO2
When Tony Hsieh came on board at Zappos, what first step would you have advised him to take to establish the customer-focused organization cul- ture? Why is this the first step you would have recommended? LO2
Based on the information provided, including Hsieh's vision for Zappos, which type of culture-a clan, market, hierarchy, or adhocracy culture-is the most appropriate for the company? Why? LO2
Discuss how you would ensure that Zappos's organization culture remains a high-performance culture. LO2
How would you define the organization culture of Goldman Sachs? Is it an environment where you would enjoy working? LO2
Using the Competing Values Framework, what type of culture exists at Goldman Sachs? Explain your reasoning. LO2
What advice would you give Goldman‘s management for maintaining a healthy culture, especially regarding the ethics and customer dimensions of its culture? LO2
Write a paragraph describing the type of organization culture you would like to establish at Eden’s.Be sure to include all the values that you want for the restaurant. LO2 CHAPTER18_ BuildingOrganizationCulture 427
List and discuss in detail five cultural artifacts you would use to implement and maintain the values included in your organization culture vision. LO2 Artifact 1:What organization culture value does this artifact emphasize and how?Artifact 2:What organization culture value does this artifact
Define organization culture and explain why organization culture skill is valuable to managers. LO2
How would you turn an unhealthy organization culture into a healthy one? Be as specific as possible. LO2
Describe the three main steps in the controlling process. LO8
What is the difference between a problem and a symptom? Use an example to support your response. LO8
Describe the six steps involved in information system performance. LO8
Describe the importance of the Easy Order system at Domino’s as it relates to the controlling process.What if Domino’s had not implemented the Easy Order system? LO8
The main steps of the controlling process are measuring performance, comparing performance to standards, and taking corrective action. Discuss the possible role of the Easy Order system at Domino’s in each of these steps. LO8
Discuss three challenges that the Easy Order system may experience, from customer problems to potential hacking from outside parties. How should Domino’s handle each of these three challenges? LO8
How important is Metail’s technology to online retailers? Explain. LO8
How can Metail’s virtual mannequins help online retailers with the controlling function of management? LO8
What are the potential challenges or problems that may occur at an online retailer with Metail’s virtual mannequin technology? LO8
Does the concept of a virtual mannequin interest you?If two similar online clothing retailers offered items you like, but only one had the virtual mannequin, which would you be more likely to buy from? Why? LO8
The first step in the controlling process involves measuring performance. If you were Samuel R.Allen, how would you measure the performance of the factory workers? Be specific. LO8
The second step in the controlling process entails comparing and measuring performance to standards. LO8a. What types of standards would you develop to help assess the performance of these factory associates?b. What information sources would you use to develop these standards?
The final step in the controlling process involves taking corrective action, if necessary. LO8a. What types of corrective actions would you take to help control the performance of the factory employees?b. How would you determine whether corrective actions are necessary?
Define power and describe the determinants of an individual’s power within an organization. LO8
What are the determinants of information system effectiveness? LO8
. Describe the relationship between quality and productivity. LO2
. Define capacity strategy and describe the five steps involved in making capacity decisions. LO2
. Compare and contrast the following operations controls: maintenance control, cost control, budgetary control, and ratio analysis. LO2
Why isTesla attempting to increase production to 1 million units by 2020? From your knowledge of how products, and even cars, are manufactured, do you think the company will meet this goal? Why or why not? LO2
List three concepts discussed in this chapter that could help Tesla’s management increase productivity.Be sure to explain how each concept could help. LO2
Which concept listed in question 20-5 do you think would have the greatest impact on increasing productivity?Explain fully. LO2
How would you evaluate Baines’s layout strategy?Be spegific. LO2
What potential challenges do you see in Baines’s layout strategy? How would you recommend overcoming those challenges? LO2
If you were Baines, what other changes to the layout would you try to implement? LO2
Describe the advantages and disadvantages associated with just-in-time inventory control. LO2
What is operations management? LO2
How will you be able to use the classical approach to management in your job as a manager?Management Skills Exercises APPENDIX1 Managing: History and Current Thinking 501 LO6
How does Henri Fayol’s contribution to management differ from the contributions of Frank and Lillian Gilbreth? LO6
Discuss the triangular management model as a too! for organizing how a manager should think about the management process. LO6
Which of the approaches to management discussed in this appendix has each of Ford’s CEOs (Henry Ford, Henry Ford Il, and Alan Mulally) seemed to emphasize the mosti n his work as a manager? Explain. LO6
Which of the approaches to management discussed in this appendix has each of Ford’s CEOs seemed to emphasize the /easti n his work as a manager? Explain. LO6
Mulally had a reputation as a successful manager at Ford. What advice would you give him and his successors so that they could become even more successful managers? LO6
Assume that you are a UPS manager responsible for a warehouse or for deliveries in a specific region. Based on the description of UPS, which of Henri Fayol'’s 14 principles of management would be most pertinent to you? Why? LO6
How can the system approach to management help Scott Abell in his role as peak planning manager? LO6
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