CAPSIM
Which proforma/annual report is used for observing the overall contribution margin of your company?
Balance sheet
Cash Flow Statement
Income Statement
Income Statement
In Chapter 2 of “Smarter, Faster, Better”, Lazlo Bock listed five key norms of the most effective teams. Which norm is incorrect, and how does that norm contribute to ineffective teamwork?
People in the team feel that their work is important
People believe that only the work of the group is meaningful
They have clear goals and defined roles
Members can depend on one another
There is a sense of psychological safety
People believe that only the work of the group is meaningful
(People need to believe that their individual contributions are meaningful because otherwise, they will be less motivated to participate )
In Chapter 4 of “Smarter, Faster, Better”, Duhigg focused on team strategies and listed multiple ways in which a team can be successful. Which of the following was NOT one he discussed?
SMART Goals
Goal setting flowcharts
Stretch Goals
Value-Based Goals
Value-Based Goals
True or False: innovation becomes more likely when old ideas are mixed in new ways.
True
The American Red Cross is a humanitarian organization that provides emergency assistance and disaster relief services. They don’t focus on making money; their primary goal is to aid destroyed communities. The American Red Cross is a…
Municipal entity
For-Profit Organization
Not-For-Profit Organization
Consumer-Focused IGO
Not-For-Profit Organization
True/False: Proformas are dynamic financial statements that recalculate based on your decisions.
True
Microsoft prioritizes creating a strong culture with committed employees. Which form of management style does Microsoft use, and where does it rank among the other management styles in terms of effectiveness?
The Star model; it's the most effective
The Engineer model; it's the least effective
Bureaucratic model; it ranks in the middle
Autocratic model; it's the least effective
Commitment model; it's the most effective
The Commitment Model; it’s consistently the most effective model
Which of the following is NOT one of Michael Porter’s four key elements:
Company strengths and weaknesses
Personal values of the key implementers
Industry opportunities and threats
Shifting shareholder preferences
Shifting shareholder preferences
Before you begin to solve any problem, what must you first identify?
Who caused the problem
How much money it will cost to fix
What “fixed” looks like for the problem
How long it will take to implement a solution
What “fixed” looks like for the problem
A stakeholder is an individual or group that has an interest in a company, organization, or business. What are three examples of an external stakeholder?
Suppliers, Society, Government, Shareholders, Creditors, etc.
Once a product reaches 100% Customer Awareness, the promotion expense can be reduced to what number?
1,700
1,300
1,500
1,400
1,400
In the movie Arrival, a group of scientists came together to generate ideas on how they could communicate with two extraterrestrials. They showed situational humility and used creativity and curiosity to create effective solutions. According to Amy Edmondson’s Ted Talk, what type of teamwork was used in this movie, and when is this form of teamwork the most effective?
Teaming; when addressing urgent and unusual problems
The Rolex watch is synonymous with status and wealth, and they actively market their products to a small group of wealthy customers. According to the Lumen Learning Guides, which competitive strategy does Rolex use to dominate the market, and which CAPSIM market would this strategy be most successful in?
Broad Differentiator and the High-End Market
Niche Cost Leader and the Performance Market
Niche Differentiator and the High-End Market
Broad Differentiator and Low-End Market
Niche Differentiator and the High-End Market
According to Duhigg, what is one of the best ways to build creativity and problem-solving skills within ourselves?
Looking through our own life experiences for inspiration
Assuming a leadership role
Completing required training for a new job
Reading the news every day
Looking through our own life experiences for inspiration
This department provides an organization with the knowledge and ideas needed to improve products and keep up with the competition. It’s led by the Chief Technology Officer, and it is the first section in CAPSIM. Which department is being described?
Research and Development
Marketing
Production
Finance
Research and Development
A company that focuses on maintaining a presence in every segment of the market is a…
Niche Differentiator
Broad Differentiator
Differentiator with Product Lifestyle Focus
Niche Cost Leader
Broad Differentiator
In 2014, Ralph Lauren received significant backlash for an advertisement featuring antique photos of Native Americans dressed in Western attire. According to Ralph Lauren’s 2019 DEI Report, Native Americans and Pacific Islanders make up less than one percent of Ralph Lauren employees. What effective teamwork principle does this relate to, and what’s one example of how Ralph Lauren can implement this idea into their business to prevent future issues?
Homogeneous groups result in lower efficiency and potential bias. Ralph Lauren can hire more Native Americans, consult with different cultural groups, etc.
According to Professor Richard P. Rumelt, what are the three components of a strategy?
Intention, Guiding Policy, Implementation
Reasoning, Prototyping, Production
Diagnosis, Guiding Policy, Action Plans
Diagnosis, Guiding Policy, Action Plans
________ is the process of building a representative model from the material you already have to get an idea of the concept in action. It is often used in the problem-solving method during the testing stage toward the end of the process.
Molding
Prototyping
Projection
Basing
Prototyping
GMC, a division of General Motors that focuses on trucks and utility vehicles, is thinking of expanding its product offerings. However, recent survey data has shown that new car buyers are favoring electric vehicles over gas vehicles because they are more environmentally conscious. Which external force does this situation relate to, and what is it called when consumers want corporations to be “good corporate citizens”?
Technological Environment; Stakeholder Responsibility
Social Environment; Consumer-Focused Management
Legal Environment; Stockholder Responsibility
Social Environment; Corporate Social Responsibility
Social Environment; Corporate Social Responsibility
Which forecasting method is the most aggressive and relies on retaining past performance/success?
Customer Survey Score
Basic Growth Method
Potential Sales Method
Potential Sales Method
In 2022, Elon Musk purchased Twitter for $44 billion. Insiders within the company reported that two dozen Twitter employees were fired because they pushed back publicly and privately against the new CEO. What effective teamwork principle does this violate, how can this approach lead to ineffective teamwork, and how can Twitter resolve this issue?
Psychological Safety, can lead to lower collaboration and limited ideas, something along the lines of becoming more inclusive
Louis Vuitton is planning on creating a new virtual shopping experience in the Metaverse. They have already purchased the necessary equipment and interviewed coders to create their new interface. Right now, they are assigning software engineers to different tasks and training staff for this new experience. Which stage of the Strategic Management Process is Louis Vuitton currently in?
Strategic Objectives and Analysis
Strategic Formulation
Strategic Implementation
Strategic Evaluation and Control
Strategic Implementation
Banana Inc., an up-and-coming technology company in the smartphone and computer industry, is interested in developing a new product that combines a user's need for communication with fitness. As they research the market, they notice that many of the ideas they initially had are already products sold by competitors. What would you recommend to the innovation team at Banana Inc. to solve this problem?
Abandon duplicate ideas and allocate resources to Research and Development
Survey customers in the industry and see what they wish was available
Use secondary data to predict future stakeholder trends
All of the above
Survey customers in the industry and see what they wish was available
Research in Motion is a Canadian software company that is known for creating Blackberry products. Research in Motion trades on the stock market, and during their prime, they generated sizable returns for their investors. For many years, Blackberry products were incredibly successful. However, companies like Apple and Samsung quickly took over the market with their extremely innovative smartphones. What type of company is Research in Motion, which external force led to its downfall, and which functional department failed in helping the company succeed in the market?
Municipal entity; Social Environment; Marketing
For-Profit Organization; Technological Environment; Research and Development
Not-For-Profit Organization; Legal Environment; Finance
Consumer-Focused IGO; Technological Environment; Research and Development
For-Profit Organization; Technological Environment; Research and Development