Strategic Management and Product Attribute Design

Topics: Strategic management, Strategic planning, Strategy Pages: 11 (1359 words) Published: October 19, 2014

WPC EXAM 1
WISH YOU GOOD LUCK!

(Q1)
According to the lecture on Scenario Development, what are the two basic methods of obtaining an informational interview? Correct Answer:
  
Be referred and a cold call based on research

(Q2)
According to the lecture on Product Attribute Design, the “product test market” portion of the Career Cycle involves: Correct Answer:
  
Getting your first job

(Q3)
Which of the following terms BEST fits the following definition by Anders Ericsson: "an action or practice designed to improve specific parts of a performance”? Correct Answer:
  
deliberate practice
Q4
According to the lecture on Product Attribute Design, which of the following are listed on the National Association of Colleges and Employers (NACE) skills list? Correct Answer:
  
All of the above

Q5
A company's business purpose can also be referred to as the _____________ of the business when applying a strategic plan. Correct Answer:
  
mission
Q6
The “passion” mindset is well-suited to acquiring career capital. Correct Answer:
 False
Q7
All of the following terms describe the “craftsman mindset” EXCEPT Correct Answer:
  
focusing on what the world can give to you
Q8
Wrzesniewski describes a "career" as:
Correct Answer:
  
work used to obtain better positions
Q9
According to the lecture on Product Attribute Design, the “product engineering” portion of the Career Cycle involves: Correct Answer:
  
Learning about or re-evaluating self
Q10
According to the article Five Years to B-School, the important thing in five years when you write your application is: Correct Answer:
  
You know exactly what you want to do
Q11
Which of the following terms BEST describes ideas that flow naturally from related discoveries and fields, often leading to simultaneous discoveries or advances? Answer

Correct Answer:
  
adjacent possible
Q12
The Vault Guides can be used to:
Answer
Correct Answer:
  
Learn about different career paths

Q13
What lesson did Newport learn from the Red Fire farm?
Correct Answer:
  
That control is essential to finding a good career.

According to the lecture on Scenario Development, which of the following is NOT one of the listed components of "measurement"? Practice

Newport argues that developing a “mission” that drives one’s career is shortsighted and follows the passion hypothesis. False

According to the lecture on Product Attribute Design, career-decision making is all of the following EXCEPT: A linear process

For a business to be successful, it's strategic planning process should include (chose the BEST answer): All of the above

According to the lecture on Product Attribute Design, who practices Product Attribute Design? Every Fortune 500 company

When talking to new hires and younger workers, Ira Glass says that his main piece of advice to them is: to be willing to put up with hard work

One of the downsides to acquiring control is that career capital is first required before control can be sustained. True

Q21
According to the lecture on Product Attribute Design, where is the one place you can find what an employer needs in "pure black and white"? Job description

Newport states that he writes down summaries of what he accomplished each week and what he hopes to accomplish in the next week in a special journal.
False

According to Newport, missions and career meaning are often discovered in fields related to existing, boundary-breaking work. True

Which of the following descriptions best defines a “calling”? work that forms a crucial part of one's self-image

Companies that use strategic planning increase confidence in the business's direction. True

According to the lecture on Applied Strategic Thinking, a mental toolset does NOT include the following characteristic: Complex

The Charness study conducted on chess players found that grand masters were much better than good/intermediate players because they...
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