Question 1

The clear,broad,underlying industry or market sector of an organization's offerings is referred to as its __________.
A)business
B)commerce
C)marketing
D)competitive set
E)product grouping

Accepted Answer

The term "business" refers to the clear, broad, underlying industry or market sector of an organization's offerings. This includes the type of products or services offered, the target market, and the overall industry or market the organization operates in.

Question 2

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 a(n)___________ for Men's Wearhouse.
A)vision
B)mission statement
C)pathos
D)behavioral protocol
E)organizational culture

Accepted Answer

Zimmer was attempting to establish an organizational culture based on trust and fairness, which reflects the values and principles guiding the company.

Question 3

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 healthcare human" and employees consistently put patients first,which unites them in a common goal.Hospital President Kathy Young believes that St.Joseph __________ makes both her employees and patients happier in her hospital.
A)vision
B)service offerings
C)organizational culture
D)pathos
E)behavioral protocol

Accepted Answer

The hospital's ability to consistently be named one of the "Best Places to Work in Indiana" for six consecutive years shows that they have a strong organizational culture in place. This culture emphasizes universal values to "keep healthcare human" and puts patients first, which unites employees in a common goal. Hospital President Kathy Young believes that this culture is a key factor in making both her employees and patients happier.

Question 4

In the context of organizational direction,a business refers to
A)the daily operational decisions that must be implemented for an organization to remain viable.
B)exchange transactions between seller and buyer in order for the seller to make sales and earn profits.
C)the clear,broad,underlying industry or market sector of an organization's offering.
D)an organization that develops an offering.
E)the objectives of a firm and the strategies and tactics that will allow it to achieve them.

Accepted Answer

A business in the context of organizational direction refers to the broad industry or market sector in which an organization operates, as it defines the scope and nature of its offerings.

Question 5

__________ argued that senior managers of 20^th century American railroads defined their business too narrowly,thus failing to create strategies to compete with airlines,barges,pipelines,and trucks. A)Earl Bakken B)Mark Zuckerberg C)Reed Hastings D)Theodore Levitt E)Steve Jobs

Accepted Answer

The statement refers to the concept of marketing myopia, which was introduced by Theodore Levitt in a famous 1960 Harvard Business Review article.

Question 6

Recently,many organizations have added __________ to their mission statements.
A)a business definition
B)a social element to reflect an ideal that is morally right and worthwhile
C)an economic element to promote profit maximization
D)an expanded definition of stakeholders to include its competitors
E)their level of pricing and product quality.

Accepted Answer

Many organizations have added a social element to their mission statements to reflect their commitment to social responsibility and ethical behavior, in addition to promoting their business goals. This reflects a change in business culture that recognizes the importance of considering the impact of corporate actions on society and the environment.

Question 7

In terms of an organization's business,railroads lost market share in the 20^th century because they A)had less flexible routes than trucking. B)defined their business too narrowly. C)defined their business too broadly. D)priced their services too high. E)were simply an outmoded form of transportation.

Accepted Answer

Railroads lost market share because they defined their business too narrowly as being solely in the railroad industry, rather than in the broader transportation industry, which limited their ability to adapt to changing market demands and competition from other forms of transportation.

Question 8

A business model
A)is a road map for the marketing activities of an organization for a specified future time period.
B)consists of the strategies an organization develops to provide value to the customers it serves.
C)is a measure of the quantitative value or trend of a marketing activity or result.
D)consists of the detailed day-to-day operational decisions for an organization.
E)is the means by which organizational goals are to be measured and documented.

Accepted Answer

A business model outlines how a company plans to create and deliver value to its customers, which includes strategies for generating revenue, managing costs, and building relationships with customers. It is not about day-to-day operational decisions (D) or measuring quantitative value or trends (C). It is also not directly about documenting organizational goals (E), though those goals should be considered in the development of the business model.

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.
A)sustainability doctrine
B)core benefit proposition
C)corporate philosophy
D)mission statement
E)code of ethics

Accepted Answer

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

Question 10

Rovio,the developer of Angry Birds video game,has broadened its business model by expanding into all of the following growth opportunities EXCEPT:
A)Angry Birds video game line extensions,such as Angry Birds Space.
B)a strategic partnership with Hasbro to market Angry Birds toys.
C)an Angry Birds movie.
D)Angry Birds remote control flying drones.
E)Angry Birds amusement parks.

Accepted Answer

Rovio has not expanded into creating Angry Birds remote control flying drones as part of its business model.

Question 11

Rovio,the Finnish developer of Angry Birds,believes it is in the __________ business.
A)video game
B)entertainment
C)amusement ride
D)toy
E)clothing

Accepted Answer

Rovio considers itself to be in the entertainment business, as it has expanded beyond just video games and created a media franchise that includes merchandise, films, and television shows.

Question 12

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 like 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 newspaper StarTribune 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 (reader preferences)that occurred in their marketing environments.
A)organizational cultures
B)marketing tactics
C)business models
D)strategic marketing processes
E)goals or objectives

Accepted Answer

The paragraph mentions the closure of bookstores due to competition from e-book readers and the switch from print subscriptions to online news. This indicates a change in the business model, which refers to the overall strategy and approach to generating revenue and delivering value to customers. Choice A (organizational cultures) refers to the values and norms within a company and is not directly related to external changes in the marketing environment. Choice B (marketing tactics) and D (strategic marketing processes) are more specific to the execution of marketing initiatives, rather than the overall business model. Choice E (goals or objectives) may change as a result of the changes in the marketing environment, but it does not fully capture the comprehensive changes in the business model.

Question 13

In the 20^th 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. A)transportation B)transcontinental shipping C)passenger travel D)product delivery E)bulk cargo

Accepted Answer

The sentence says that the managers of railroads had strategies developed only for the railroad business, which implies that they were not considering the broader definition of the transportation business. Therefore, choice A (transportation) is the best answer. The other options (transcontinental shipping, passenger travel, product delivery, and bulk cargo) are too specific and do not encompass all aspects of the transportation business.

Question 14

The strategies an organization develops to provide value to the customers it serves is called a(n)
A)mission statement.
B)objective goal.
C)vision statement.
D)business model.
E)protocol.

Accepted Answer

A business model refers to the strategies and methods that an organization employs to generate revenue and create value for its customers. It encompasses various aspects such as the target audience, distribution channels, pricing, value proposition, and cost structure. A mission statement outlines the purpose and goals of the organization, while a vision statement describes its desired future state. Objective goals are specific and measurable targets that an organization sets to achieve its mission and vision. A protocol refers to a set of rules or guidelines for conducting a particular activity or process.

Question 15

Organizational culture refers to
A)the personal moral and ethical codes of ethics of its top management.
B)a written statement expressing its goals and objectives to be achieved through enacting a comprehensive strategic plan.
C)the fundamental,passionate,and enduring principles that guide its conduct over time.
D)the ethos of an organization that excludes its core values.
E)a set of values,ideas,attitudes,and norms of behavior that is learned and shared among the members of an organization.

Accepted Answer

Organizational culture refers to a set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization. It is the way things are done in the organization and the beliefs and values that shape the behavior of its employees. Culture can be influenced by top management, but it is learned and shared by all members of the organization.

Question 16

The __________ for American Red Cross is "to prevent and alleviate human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors."
A)core benefit proposition
B)business definition
C)sustainability doctrine
D)mission statement
E)core value proposition

Accepted Answer

The statement provided in the question is a clear indication of the mission statement of American Red Cross. A mission statement defines the purpose of an organization and its goals.

Question 17

The organizational __________ answers the question,"What will we do?"
A)foundation
B)direction
C)culture
D)strategy
E)mission

Accepted Answer

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

Question 18

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 __________.
A)mission statement
B)core value proposition
C)organizational culture
D)corporate philosophy
E)core benefit proposition

Accepted Answer

Organizational culture refers to the shared set of values, beliefs, attitudes, and norms of behavior that exist within an organization. It shapes how employees interact with one another and with external stakeholders, and it can have a significant impact on organizational performance and success. While a mission statement or corporate philosophy may be part of a company's culture, they do not encompass the full range of beliefs and behaviors that define it. Core value proposition and core benefit proposition refer to the unique value or benefits that a brand or product offers to customers, not the internal culture of an organization.

Question 19

Which of the following statements regarding organizational culture is MOST ACCURATE?
A)Organizational culture exists only at the corporate level of an organization.
B)Organizational culture involves communicating and connecting with all of the firm's stakeholders.
C)Organizational culture is best used only at the functional level for the most effective results.
D)Organizational culture cannot be learned or taught.
E)Organizational culture is a statement of the organization's function in society.

Accepted Answer

Organizational culture is not limited to any specific level of an organization, but involves the entire organization and all its stakeholders. It refers to the shared values, beliefs, practices, and behaviors that shape the attitudes and actions of people within an organization. Effective communication and connections with all stakeholders help to reinforce the culture and build a strong sense of identity and purpose for the organization.

Question 20

The __________ for Facebook is "To give people the power to share and make the world more open and connected."
A)sustainability doctrine
B)core benefit proposition
C)mission statement
D)corporate philosophy
E)code of ethics

Accepted Answer

The statement is a clear and concise expression of Facebook's purpose and goals, making it a mission statement. A is incorrect because it refers to environmental and social responsibility, which is not mentioned in the statement. B is incorrect because it refers to the primary benefit that sets a product apart from competitors, which is not the same as a mission statement. D is incorrect because it is a broader term that encompasses more than just the mission statement. E is incorrect because a code of ethics is a set of rules that guide behavior, not a description of an organization's purpose.

Quiz 2: Developing Successful Organizational and Marketing Strategies

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

In the context of organizational direction,a business refers to

__________ 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.

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

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

A business model

"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.

Rovio,the developer of Angry Birds video game,has broadened its business model by expanding into all of the following growth opportunities EXCEPT:

Rovio,the Finnish developer of Angry Birds,believes it is in the __________ business.

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.

The strategies an organization develops to provide value to the customers it serves is called a(n)

Organizational culture refers to

The __________ for American Red Cross is "to prevent and alleviate human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors."

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

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 __________.

Which of the following statements regarding organizational culture is MOST ACCURATE?

The __________ for Facebook is "To give people the power to share and make the world more open and connected."

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

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

In the 20^th 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.