Marketing B2B Quiz Chapter 5

In the hierarchy of strategies, _____ strategy defines the businesses in which a company will compete, preferably in a manner that utilizes resources to convert distinctive competence into competitive advantage.

• functional

• corporate

• business-level

• product

• divisional

In the hierarchy of strategies, _____ strategy centers on how a firm will compete in a given industry and will position itself against its competitors.

• functional

• corporate

• business-level

• product

• divisional

In the hierarchy of strategies, _____ strategy centers on how resources allocated to various functional areas can be used most effectively and efficiently to support the strategy of a strategic business unit.

• functional

• corporate

• business-level

• product

• divisional

A _____ is a single business or collection of businesses that has a distinct mission, a responsible manager, its own competitors, and an independent position in the firm.

• strategic business unit

• market segment

• sub-business center

• divisional organizational scheme

• sector unit

The collective action perspective of strategy formulation applies to strategic decisions that cut across functional areas, involve issues related to the organization's long-term goals, or involve the allocation of resources across business units. According to the collective action perspective, strategic decision processes:

• are typically centered in a single functional area (e.g., in marketing or in R&D).

• are often characterized by conflict that often divides participants in the strategy formulation process.

• involve negotiation and compromise among partisan participants.

• all of the above

• (b) and (c) only

Conflict often divides participants in the strategy formulation process. Conflict most often emerges from:

• bickering within a single functional area.

• issues surrounding sales territories.

• turf issues.

• thought world differences.

• both (c) and (d)

The composition or functional area representation of the marketing strategy center:

• is strictly prescribed by the organizational chart.

• evolves during the strategy development process.

• varies from one strategy situation to another.

• all of the above

• (b) and (c) only

Responsibility charting provides a tool for defining decision-making roles. A manager who accepts or vetoes a decision before it is implemented, or chooses from alternatives developed by others, is performing which of the roles?

• responsible

• approve

• consult

• implement

• inform

Responsibility charting constitutes an approach that can be used to classify decision-making roles and to highlight the multifunctional nature of business marketing decision making. A manager who takes initiative for analyzing a situation, developing alternatives, assuring consultation with others, and who makes initial recommendations is performing which of the following roles?

• responsible

• approve

• consult

• implement

• inform

In developing strategic plans, managers who represent the various business functions in the firm often hold different views concerning the best strategic course. Why?

• Because different functions are rewarded for different things.

• Because each function often reflects a unique orientation or thought world.

• Because some functions are oriented toward short-term objectives while others center on long-term goals.

• All of the above.

• (a) and (c) only.