Chapter 4

1. At Marriott International Hotels, state-of-the art information technology is use communicate with and understand the needs of their customers (T)2. Customer relationship management is a strategy that is focused on building relationships and adding value to their key customers, stakeholders and suppliers (F)3. Customer relationship management involves strategic management of all operations relating an organization to the suppliers of its resources including purchasing, manufacturing, transportation, and distribution (F)4. Supply chain management involves establishing and maintaining high standards of customer service (F)5. Wal-Mart utilizes CRM by providing their suppliers access to sales and inventory records and sales forecasts enabling them to more effectively meet retailer needs (T)6. A sustainable business meets the needs of customers and protects the well-being of our natural environment (T)7. A sustainable business is concerned only with the protection of the well-being of our natural environment (F)8. Generational cohorts consist of people born within a few years of one another and who experience somewhat similar life events during their formative years (T)9. The general environment consists of the economic, sociocultural, legal-political, technological, and natural environment conditions in the external environment that can substantially influence the operations of an organization (T)10. Managers need not concern themselves with economic conditions in the general environment (F)11. The general environment consists of all conditions in the external environment forming a background context for managerial decision making (T)18.Economic conditions in the general environment include inflation, income levels, gross domestic product, unemployment, and job outlook (F)19.Legal-political conditions in the general environment include norms, customs, and social values regarding human right; trends in education and related social institutions; and demographic patterns in society (T) 20.Sociocultural conditions in the general environment include norms, customs, and social values on such matters as human rights, gender roles, and life styles(F)21.Shifting social values have no effect on consumer tastes and preferences (T)22.Recently, CEO compensation has received much public attention, particularly concerning the wide discrepancy between average CEO pay and average workers pay.(T)23.Technological conditions in the general environment include the development and availability of technology, including social networking (T)24.Natural environment conditions in the general environment include social and political unrest, inflation, demographic changes and changes in society (T)25.Protecting the natural environment by developing environmentally-friendly products is becoming an important source of competitive advantage (F)

26. Legal-political conditions in the general environment include __________. Philosophy and objectives of the political party or parties running the government, as well as laws and governmental regulations.

27.Which of the following would be considered part of the sociocultural environment condition? Demographics.

28. Sociocultural conditions in the general environment include __________. Norms, customs, and social values regarding human rights; trends in education and related social institutions; and demographic patterns in society.

29. Technological conditions in the general environment include __________. Development and availability of technology, including scientific advancements.

30.Natural environment conditions in the general environment include __________. Nature and conditions of the natural environment, including levels of pubic concern expressed through environmentalism.

31. Reducing paper usage, recycling, using local produce, and adopting energy saving practices and facilities are all initiatives associated with: Natural environment conditions

32. The term used to describe actual organizations, groups, and persons with which an organization interacts and conducts business is the __________. specific environment

33.__________ is the stage of the product development process in which ideas are shared with others and prototypes are tested. Initial experimentation.

34.The __________ step of the product development process involves the commercialization of a new product for sale to customers or clients. Final application.

35. Suppose an organization has an organic structure that relies on responsive structures and systems, top management support, and staffing for creativity. This organization would be one that is seeking to __________ Be highly innovative

36.Highly innovative organizations have top managers who do all of the following EXCEPT: Create conflict to stimulate creativity.

37.Which of the following fits the notion of innovation sustainability? Green Innovation

38.Reducing the carbon footprint of an organization could be accomplished by: Using solar power rather than electricity as a power source in an operating plant

39.A unique form of entrepreneurship that finds novel ways to create changes that solve pressing social problems is: A franchise

40.The goal of social business innovation is: Social change41.Characteristics of innovative organizations are: Different than non-innovative ones primarily in regard to delivering competitive advantage

42.Strategy, culture, structure, top management, and staffing are said to be: The factors which will create an innovative organization

43. In an effort to survive in a sluggish economy, PC Computing Inc. has decided to streamline their operations and look for opportunities to find better ways of operating their business from cutting costs, transforming the shopping experience, to improving their supply chain. PC Computing in most concerned with which type of innovation. Process Innovations

44. Muhammad Yunus, Nobel Prize winner and noted social entrepreneur from Bangladesh, used microcredit lending to help create small enterprises and fight poverty. Yunus was acting on the notion of which type of innovation. Social Business Innovations

45. Organizations interested in finding ways to use their business models to address important social problems are engaged in ________________ innovation. Process

46.__________ means that there is a lack of complete information regarding what exists and what developments may occur in the external environment. Environmental uncertainty.

47.Which of the following statements accurately describe the concept of environmental uncertainty? Environmental uncertainty consists of two components complexity of the environment and rate of change in the environment.

48.The greater the level of environmental uncertainty, the __________.A. Greater the level of environmental complexity and the rate of change in the environment.B. More attention that management must direct toward the external environment.C. Greater the need for flexibility and adaptability in organizational designs and work practices.

49.__________ represents a lack of complete information regarding what exists and what developments may occur in the external environment. Environmental uncertainty.

50.Which of the following statements most accurately describes the concept of environmental uncertainty? Environmental uncertainty consists of two components complexity of the environment and rate of change in the environment..