Management Question
Instructions: There are four questions, and you will need to answer all four questions. Your answers will be short essays and should be three full paragraphs.
Content: The exam will cover chapters six through ten of the textbook, plus the assigned readings from Units Four, Five, Six, and Seven. It is important that you cite your references and tie your answers back to the textbook and to the assigned readings. Further, it is important that you integrate the textbook and assigned readings in your answer.
Essay Questions
(1) First Mover Advantage. What is the first-mover advantage? What are some advantages to having a first-mover advantage in an industry? What are some disadvantages? What are the industry conditions that favor being a first mover? What are the industry conditions that don’t favor being a first mover? (integrate article “The Half-Truth of First-Mover Advantage” into answer)
(2) Corporate Strategy. When does business diversification become a consideration for companies? What are the three tests that justify a business diversification decision? Which is better, related business diversification or unrelated business diversification? What are the factors that management should consider before making a diversification decision? (integrate article “To Diversify or Not To Diversify” into answer)
(3) Corporate Social Responsibility. What is corporate social responsibility? What are some arguments in favor of corporate social responsibility? What are some arguments against corporate social responsibility? What are some best practices that companies can adopt in order to bring discipline and coherence to their corporate social responsibility activities? (integrate article “The Truth About Corporate Social Responsibility” into answer)
(4) Strategy Execution. What is strategy execution? Briefly describe the eight principal managerial components of strategy execution. Why do some strategy execution processes fail? What are some ways that management can more closely align their strategy with their strategy execution? (Integrate article “5 Ways the Best Companies Close the Strategy-Execution Gap” into answer)
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