Question 1

__________ argued that senior managers of 20th century American railroads defined their business too narrowly,thus failing to create strategies to compete with airlines,barges,pipelines,and trucks.

Accepted Answer

Theodore Levitt, a Harvard Business School professor, famously argued in his 1960 article, "Marketing Myopia," that many companies defined their business too narrowly, leading to their downfall. He specifically cited the railroads as an example of an industry that failed to adapt to changing times and competition.

Question 2

United Parcel Service (UPS)recently redefined its business,and now considers itself to be in which of these?

Accepted Answer

The answer of United Parcel Service (UPS)recently redefined its business,and...

Question 3

Many local and national chain bookstores,such as Borders and Bookstar,have closed over the past few years.This is due in part to competition from e-book readers such as Amazon's Kindle and Apple's iPad,which permit the online purchase and download of digital books from their websites.Moreover,subscribers to newspapers and magazines have cancelled their print subscriptions in favor of online news.These trends have caused the StarTribune newspaper to offer online content for $1..99 per week and Newsweek to suspend its print edition in favor of an online only weekly edition.These companies had to change their __________,an action triggered by the technological and social changes in their marketing environments.

Accepted Answer

The changes made by these companies, such as offering online content and suspending print editions, indicate a shift in their overall business model in response to changes in their marketing environment.

Question 4

__________ convert an organization's mission and business into long- and short-term performance targets.

Accepted Answer

Goals are specific targets set by an organization to convert their mission and business into long- and short-term performance targets. Plans, tactics, strategies, and visions are important in achieving these goals but do not necessarily define them.

Question 5

In the context of organizational direction,the term business refers to

Accepted Answer

The answer of In the context of organizational direction,the term...

Question 6

In the 20th century,managers of railroads let airlines,barges,pipelines,and trucks take business away from them because their strategies were developed only for the railroad business,rather than a broader definition of the __________ business.

Accepted Answer

The sentence explicitly mentions "transportation" as the broader definition that the managers of railroads failed to consider. Therefore, option A is the best choice.

Question 7

The strategies an organization develops to provide value to the customers it serves is called

Accepted Answer

The strategies an organization develops to provide value to the customers it serves is called a business model. It outlines how the organization will generate revenue, deliver products or services, and create and maintain a competitive advantage. The other options (mission statement, objective goal, vision statement, and protocol) refer to different aspects of an organization's overall strategy, but do not specifically relate to the strategies for providing value to customers.

Question 8

George Zimmer,the former CEO of Men's Wearhouse,was known to the public as the bearded company pitchman who sells suits and sport coats on TV declaring,"You'll like the way you look.I guarantee it!" He also said that to be successful,"You've got to have a company that starts with trust and fairness." Zimmer was attempting to establish ___________ for Men's Wearhouse.

Accepted Answer

An organization's culture refers to a set of values,ideas,attitudes,and norms of behavior that is learned and shared among the members of an organization.George Zimmer's statement about beginning with trust and fairness is part of a set of values that he instilled in the organization as part of the Men's Wearhouse culture.

Question 9

"HowAboutWe is the fastest,easiest,most fun way to go on awesome dates" is the __________ for the online dating service that focuses on setting up actual activities as dates for its users.

Accepted Answer

The answer of "HowAboutWe is the fastest,easiest,most fun way to...

Question 10

Objectives refer to

Accepted Answer

Objectives refer to statements of an accomplishment of a task to be achieved, often by a specific time.

Question 11

A set of values,ideas,attitudes,and norms of behavior that is learned and shared among the members of an organization is referred to as its

Accepted Answer

The set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization is referred to as its organizational culture. A mission statement and corporate philosophy are specific statements or beliefs outlining the goals and principles of an organization, while a core value proposition and core benefit proposition are marketing concepts related to highlighting the unique value or benefits offered by a company or product.

Question 12

Recently,many organizations have added __________ to their mission statements.

Accepted Answer

Many organizations have added a social element to their mission statements to reflect an ideal that is morally right and worthwhile. This reflects the growing trend towards corporate social responsibility and the recognition that businesses have a responsibility to contribute positively to society.

Question 13

Recently,St.Joseph Hospital was named one of the "Best Places to Work in Indiana" for the sixth consecutive year.The hospital touts universal values to "keep health care human" and employees consistently put patients first,which unites them in a common goal.Hospital President Kathy Young believes that St.Joseph's __________ makes both her employees and patients happier in her hospital.

Accepted Answer

The statement highlights the importance of St. Joseph's organizational culture in making both employees and patients happier, indicating that it is the key factor behind the hospital's success in being named one of the "Best Places to Work in Indiana" for the sixth consecutive year. Therefore, option C - organizational culture - is the best choice.

Question 14

Organizational culture refers to

Accepted Answer

Organizational culture refers to the shared values, beliefs, attitudes, and behaviors that shape the way people think, feel, and act within an organization. It is a learned and shared set of norms that gives members a sense of identity and helps to guide behavior. While top management may certainly influence the culture, it is not simply a reflection of their personal ethics or a written statement of goals; rather, it is a more pervasive and enduring feature of organizational life.

Question 15

The organizational __________ answers the question,"What will we do? "

Accepted Answer

The organization's direction includes (1)the "business it is in" and (2)its specific goals.

Question 16

A business model

Accepted Answer

A business model consists of the strategies an organization develops to provide value to the customers it serves. It is not a road map for marketing activities or a measure of quantitative value or trend. It is also not focused solely on operational decisions or goal measurement and documentation.

Question 17

Statements of an accomplishment of a task to be achieved,often by a specific time are referred to as

Accepted Answer

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as goals. Plans refer to the detailed steps needed to achieve a goal. Procedures are a specific set of steps to follow in a certain situation. Strategies are the approaches or methods to achieve a goal. Core values are the fundamental beliefs or principles that guide behavior and decision-making.

Question 18

Which of the following statements regarding organizational culture is most accurate?

Accepted Answer

Organizational culture involves communicating and connecting with all of the firm's stakeholders. Organizational culture refers to the shared values, beliefs, attitudes, and behavior patterns that characterize members of an organization and define its nature. It is not limited to the corporate level but exists at all levels of an organization. Organizational culture affects the way people interact with each other, the decisions they make, and the strategies they pursue. It is essential to communicate and connect with all stakeholders, including employees, customers, suppliers, investors, and the community, to develop and maintain a positive organizational culture.

Question 19

In terms of an organization's business,railroads lost market share in the 20th century because they

Accepted Answer

In the first half of the 20th century,the American railroads proclaimed,"We are in the railroad business!" This narrow business definition lost sight of who their customers were and what they needed.

Question 20

The clear,broad,underlying industry or market sector of an organization's offerings is referred to as its

Accepted Answer

The clear, broad, underlying industry or market sector of an organization's offerings is referred to as its business. It defines the overall nature of the company's products and services and the market in which it competes.

Quiz 2: Developing Successful Organizational and Marketing Strategies