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Worksheetshihihi
Total questions: 154
Worksheet time: 1hrs 17mins
The rate at which others can duplicate a firm's underlying resources, capabilities, or
core competencies is called
Transferability
Durability
Transparency.
Imitability.
The emphais of strategic managemeưnt is on?
An examination of the organization's internal environment
Long-term performance
The short-run performance of the corporation
First line managers
A company's strategy is most accurately defined as?
The business model that a company's board of directors has approved foroutcompeting
rivals and making the company profitable.
Management's concept of "where we are headed
Management's game plan for growing the business, attracting and pleasing customers,
conducting operations, and achieving financial and market performance objectives.
Management's approaches to building revenues, controlling costs, and generating an
attractive profit.
Strategic planning within a small organization
May be informal and irregular.
Must be elaborate to allow for future growth.
Should be done by the president only
Should always be formalized and explicitly stated.
The most important aspect(s) of a company's business strategy?
Deals with how management plans to maximize profits while, at the same time, operating
in a socially responsible manner.
Are the actions and moves in the marketplace that managers taketo gain a sustainable
competitive advantage.
Concerns how to improve the efficiency of its business model
Is figuring out how to maximize profits and shareholder value
A difference between basic financial planning and forecast-based planning is?
Select one:
Forecast-based planning incorporates environmental data and extrapolates current trends.
The time horizon is shorter in forecast-based planning
Basic financial planning utilizes scenarios and contingency strategies.
Basic financial planning utilizes consultants with sophisticated techniques
The competitive moves and business approaches a company's managementis using to
grow the business, compete successfully, attract and please customers, conduct
operations, respond to changing economic and market conditions, and achieve
organizational objectives is referred to as its?
Business model
Vision
Mission
Strategy
A sugar company that is worried that consumers may buy artificial sweetener instead
of sugar is concerned about the?
Bargaining power of suppliers
Rivalry among existing firms.
Threat of new entrants.
Threat of substitute products.
According to Porter's model, a strong or high force is likely to reduceprofits and can be
regarded as a(n)?
Threat.
Risk.
Opportunity.
Advantage.
Which of the following statements is not true concerning a corporate reputation?
A good corporate reputation can be a strategic resource.
Reputation tends to be long lasting and hard for others to duplicate.
Research shows no positive relationship between corporate reputation and financial
performance.
There is a positive relationship between corporate reputation and financial performance.
In which type of international industry do corporations tailor products to the specific
needs of consumers in a particular country?
Multi-domestic industry
Indigenous industry
Global industry
Consortium industry
A formal program of gathering information on a company's competitors is referred to
as?
Competitive intelligence
Quantitative forecasting.
Competitive strategy.
Statistical modeling.
Which of the following is not a major force in the societal environment?
Labor forces
Economic forces
Technological forces
Political-legal forces
A company or an industry whose product works well with a firm's product and
without which the product would lose much of its value is considered to be a(n)?
Industry leader.
Complementor.
Oligopoly.
Oligopoly group.
Which of the following is not a major question to ask in thinking strategically about
industry and competitive conditions in a given industry?
How many companies in the industry have good track records for revenue growth and
profitability?
What are the key factors for future competitive success?
What strategic moves are rivals likely to make next?
Does the outlook for the industry offer good prospects for profitability?
Strategic management is that set of managerial decisions and actions that determine
the long-run performance of a corporation. Which one of the following is not one of the
basic elements of the strategic management process?
Evaluation and control
Statistical process control
Strategy formulation
Strategy implementation
16. What is a set of business units or firms that "pursue similar strategies with similar
resources"?
Strategic group
Collective collaboration
Integral association
Integral association
In a fragmented industry?
Prices increase as new competitors enter the market.
Economies of scale are rarely used to reduce costs.
No firm has large market share.
Companies avoid integration to further reduce costs
Which societal force includes demographic trends
Sociocultural forces
Technological forces
Economic force
Labol force
When an organization is evaluating its strategic position, which is not one of the
strategic questions that an organization generally may ask itself?
Are we on target to hit our financial objectives next year
Where is the organization now
If the evaluation is negative, what specific actions should management take.
d. If no changes are made, where will the organization be in one year
Which environment was generally perceived by business people to be something to
exploit, not conserve, until the twentieth century?
The societal environment
The natural environment
The internal environment
The task environment
The ability of a corporation to shift from one dominant strategy to another is called?
Logical incrementalism.
Strategic flexibility.
Chaos formulation.
Contingency management.
According to Barney's VRIO framework, the firm's exploitation of a competency
pertains to?
Organization.
Imitability.
Value.
d. Rareness.
Through market research, corporations are able to practice ________ with various
products or services so that managers can discover what niches to seek, which new types
of products to develop, and how to ensure that a company's many products do not directly
compete with one another?
Marketing leverage
Marketing mix.
Marketing leverage
Market segmentation
Which of the following is not descriptive of the threat of substitute products or
services?
If the cost of switching is low, substitutes may have a strong effect on an industry.
Substitute products appear to be different but satisfy the sameneed as another product.
Identifying substitutes is relatively easy since they look similar.
Possible substitute products or services may not appear to be easily substitutable.
Porter describes the threat of new entrants. Which of the following is not descriptive
of the "threat of new entrants"
Depends on the reaction of existing competitors
Has a desire to gain market share
Does not impact industry attractiveness
Brings new capacity and substantial resources
According to Porter, the corporation is most concerned with?
The amount of pressure from the societal environment.
A market's position on its life cycle.
The intensity of competition within its industry.
An example of the promotion variable of the marketing mix is?
An example of the promotion variable of the marketing mix is?
Advertising.
Discounts.
Location.
Which of the following is not one of the eight current sociocultural trends mentioned
in the text?
Wage/price controls
Increasing environmental awareness
Decline of the mass market
of the seniors market
The origin of competitive advantage lies in the ability to?
Gain major stockholders
Identify and respond to environmental change well in advance of competition
Launch products quickly
Serve customers faster.
A company's strategy is a "work in progress" and evolves over time because of?
The need to make regular adjustments in the company's strategic vision.
The ongoing need to imitate the new strategic moves of the industry leader
The ongoing need of company managers to react and respond to changing industry and
competitive conditions.
Which of the following is an issue likely to be addressed by a company'sbusiness
strategy?
All of the above
. Actions to respond to changing economic and market conditions
Actions to supplement the company's resources and capabilities through alliances and joint
ventures
d. Actions and approaches used in managing the functional areas of the business
When the value chains of two separate products or services share activities, such as
the same marketing channels, in order to reduce costs, this is an example of?
Economies of scope.
Economies of integration.
Economies of scale.
Which of the following is not descriptive of intense rivalry among firms?
Few competitors or competitors that are roughly equal in size and power
Product offerings that are highly differentiated
High exit barriers
High fixed costs
Which of the following is not a support activity of the value chain?
Strategic planning
Human resource managemen
Technology development
Marketing and sales
________ is more valuable because it can provide companies with a sustainable
competitive advantage that is harder for competitors to imitate?
a. Tacit knowledge
b. Transferable knowledge
c. Explicit knowledge
d. Imitable knowledge
Which of the following is not one of the four question areas in VRIO framework used
to evaluate a firm's key resources?
Valuable
Organization
Durability
Rareness
One of the benefits of globalization is?
Economies of scale.
Increased union negotiations
Increased taxes.
Decreased outsourcing.
The corporate mission is best described by which one of the following?
A description of top management's responsibilities
The purpose or reason for the corporation's existence
A description of the activities carried out by the organization
When examining the corporate value chain of a particular product or service, which
one of the following is not one of the primary activities that usually occur?
Inbound and outbound logistic
Auditing and accounting
Marketing and sales
Operations
According to Porter's model, a low force can enable the company to earn greater
profits and can be regarded as a(n)?
Threat
Threat
Risk
Opportunity.
Those variables that can affect significantly the overall competitive positions of
companies within any particular industry are known as?
Industry scenario
Key success factors.
Matrix factors.
Internal strategic factors.
Which of the following is not something a company's strategy is concerned with?
Management's choices about how to grow the business
Management's action plan for conducting operations and improving the company's
strategic and financial performance
Management's choices about how quickly and closely to copy the strategiesbeing used by
successful rival companies
Management's choices about how to outcompete rivals
The ability of competitors to use duplicated resources and capabilities to imitate the
other firm's success is called?
Transferability.
Durability.
Transparency.
Replicability
An organization skilled at creating, acquiring, and transferring knowledge, and at
modifying its behavior to reflect new knowledge and insights is a(n)?
Innovative organization.
Strategically managed corporation.
Hypercompetitive competitor.
Learning organization.
A company's strategy consists of?
Plans involving alignment of organizational activities and strategic objectives
Competitive moves and approaches that managers have developed to grow the business,
attract and please customers, conduct operations, and achieve targeted objectives.
Its strategic vision, its strategic objectives, and its strategic intent
Actions to develop a more appealing business model than rivals
Match the "market trend" with its example?
Changes in social behavior such as online networking
Such as interest rate changes
Such as the increased use of social media by certain customer
Changes in the world economy
Those critical strengths and weaknesses that are likely to determine if a firm will be
able to take advantage of opportunities while avoiding threats are called?
Internal strategic factors.
SWOT.
Competitive forces.
Quality accounting.
In addition to Porter's Five Forces, another force added in the text is?
Threat of shareholders.
Other stakeholders.
Threat of prospects.
Bargaining power of unions.
Which of the following was normally one of the top benefits of strategic
management?
Improved productivity.
Higher levels of employee motivation
Clearer sense of strategic vision for the firm
The corporation's task environment?
Is an advisory committee to top management.
Is an accounting of the many jobs within an organization.
Includes those elements or groups within an organization's industry.
Encompasses the physical working areas of the organization.
A corporation's ability to exploit its resources is referred to as its?
Capabilities.
Business expertise.
Core competencies.
Critical success factors.
Which type of international industry manufactures and sells the same products with
only minor adjustments made for individual countries around the world?
Global industry
Multi-domestic industry
Indigenous industry
Which one of the following is not one of the five stages of an ongoing,continuous
strategic management process?
Developing a profitable business model
Forming a strategic vision of the company's future direction and focus
Setting objectives to measure progress toward achieving the strategic vision
Which is the largest age group of the current generations in all developed countries?
Baby Boomers
Silent Generation
Woofies
Gen X
According to the text, one reason environmental uncertainty is a threat to strategic
managers is because?
It hampers their ability to develop long-range plans and make strategic decisions.
It creates a new playing field in which creativity and innovation can play a major part in
strategic decisions.
It forces the strategic manager to be more stable.
It is a costly and time-consuming process
Which of the following is a function of corporate culture?
It encourages flexibility and thus constant change.
It generates creative approaches to new situations.
It conveys a sense of identity for employees.
It encourages a laissez faire set of attitudes
A creative, distinctive strategy that delivers a sustainablecompetitive advantage is
important because?
Without a competitive advantage a company cannot have a profitable business model
Without a proven strategy a company is likely to fall into bankruptcy
A strategy that yields a competitive advantage over rivals is a company's most reliable means of achieving above-average profitability and financial performance
A competitive advantage is what enables a company to achieve its strategic objectives
In the EFAS Table, the indicator of how well a particular company is responding to
current and expected factors in its external environment is characterized by the?
Total weighted score.
Industry matrix.
IFAS score.
SWOT score
The monitoring, evaluating, and disseminating of information from theexternal and
internal environments to key people within the corporation is referred to as?
Internal scanning.
Strategy formulation.
Environmental scanning.
External scanning.
An industry dominated by a few large firms, all of which struggle with product
differentiation, is known as?
Multi-domestic.
Indigenous.
Global.
Consolidated.
When a company's core competencies are superior to those of competitors, these are
known as?
Distinctive competencies.
Critical success factors.
Core competencies.
Resources.
Which of the following is not an element of the organization's task environment?
Trade associations
Governments
Technological developments
Special interest groups
A company with significant assets and activities in multiple countries is known as a?
Repatriated corporation.
Duplicate corporation.
Multi-national corporation.
Transferable corporation.
It is normal for a company's strategy to end up being?
Left unchanged from management's original planned set of actions and business
approaches since making on-the-spot changes is too risky.
Like the strategies of other industry members since all companies are confronting much
the same market conditions and competitive pressures.
A blend of deliberate planned actions to improve the company's competitiveness and
financial performance and as-needed unplanned reactions to unanticipated developments
and fresh market conditions.
A combination of defensive moves to protect the company's market share and offensive
initiatives to set the company's product offering apart from rivals
Which of the following is not one of the five typical sources of competitive
pressures?
The threat of new entrants into the market
The attempts of companies in other industries to win customersover to their own
substitute products
The bargaining power of suppliers and seller-supplier collaboration
The power and influence of industry driving forces
All of the following are technological breakthroughs already having a significant
impact on many industries EXCEPT?
Genetically altered organisms
Growing health consciousness.
Alternative energy sources.
Smart, mobile robots.
Knowledge that is not easily communicated because it is deeply rooted in employee
experience or in a corporation's culture is called?
Imitable knowledge.
Tacit knowledge.
Transferable knowledge.
Explicit knowledge.
Knowledge that can be easily articulated and communicated is known as?
Explicit knowledge.
Imitable knowledge.
Transferable knowledge.
Tacit knowledge.
The theory that proposes organizations can and do adapt to changing conditionsby
imitating other successful organizations is known as?
Citizenship theory.
Institution theory.
Population ecology.
Strategic theory.
70. The ability of an organization to reshape its environment is described by?
Population ecology theory.
Institution theory.
Organizational learning theory.
The strategic choice perspective.
The Strategic Management Model presents the following process forstrategy
formulation?
Policies – Mission – Strategies – Objectives.
Mission – Policies – Strategies – Objectives.
Mission – Objectives – Strategies – Policies.
Policies – Strategies – Objectives – Mission.
The primary activity of a competitive intelligence unit is to?
Monitor competitors.
Engage in corporate espionage.
Determine industry R&D statistics.
Survey stakeholders.
Which barrier to entry do corporations such as P&G use to force new entrants to
spend heavily to overcome existing customer loyalty?
Access to distribution channels
Product differentiation
Switching costs
Capital requirements
74. The term used to describe new products, services, methods, and organizational
approaches that allow businesses to achieve extraordinary returns is?
Profit maximization.
Innovation.
Competitive advantage.
Sustainability.
75. The triple bottom line refers to which of the following?
Physical environment, traditional profit/loss, and air
Water, air, and oil
Traditional profit/loss, social responsibility, and environmental responsibility
Footprints, finance, and environment
76. Research suggests that strategic management evolves through foursequential phases
in corporations. The first phase is?
Externally oriented planning
Forecast-based planning.
Internally oriented planning
Basic financial planning
Which of the following is not descriptive of external environmental scanning
Used as a tool to ensure a corporation's long-term health
Used to identify major stockholders
Used to monitor, evaluate, and disseminate information relevant to the organizational
development of strategy
Managers in all types of businesses must address the central strategic question?
Where do we want to go from here?
When will we know we are there?
How are we going to get there?
Where are we now?
Which of the following is not an element of a company's business strategy?
Actions to respond to changing market conditions or other external factors
Management actions to revise the company's financial and strategic performance targets
Actions to strengthen internal capabilities and competitively valuable resources
\Actions to strengthen competitiveness via strategic alliancesand collaborative partnerships
The technique recommended by the text to organize an analysis of external strategic
factors is called?
EFAS.
IFAS
SFAS
SWOT
The strategic management process is shaped by?
The decisions made by the compensation and audit committees of the board of directors.
External factors such as the industry's economic and competitive conditions and internal
factors such as the company's collection of resources and capabilities.
A company's customer value proposition and profit formula.
Management's strategic vision, strategic and financial objectives, and strategy.
Industry analysis is primarily concerned with a corporation's?
Economic environment.
Sociocultural environment.
Societal environment.
Task environment.
Which of the following is not descriptive of the threat of substitute products or
services?
If the cost of switching is low, substitutes may have a strong effect on an industry.
Possible substitute products or services may not appear to be easily substitutable.
Identifying substitutes is relatively easy since they look similar.
Substitute products appear to be different, but satisfy the same need as another product.
A company may develop an emergent strategy due to?
Strategic moves by rival firms.
Fast-changing technological developments.
All of the above.
Which barrier to entry uses cost advantages associated with large size?
Capital requirements
Economies of scale
Switching costs
Cost disadvantages independent of size
In the final phase of strategic management, strategic information is available to?
People throughout the organization
The top management responsible for decision-making
Middle management
Operational personnel.
The combination of the degree of complexity and the degree of change existing in an
organization's external environment is/are called?
Strategic fit.
Strategic issues.
Environmental uncertainty.
Strategic factors.
89. According to Porter, the collective strength of the interactionof potential entrants,
buyers, substitutes, suppliers, firm rivalry, and other stakeholders determine?
The probable industry attractiveness and business strength position.
The level of government action in an industry.
The ultimate profit potential in the industry measured in terms of long-run return on
invested capital.
The aggregate level of demand for a product line.
Which of the following is not descriptive of a high level of bargaining powers of
buyers?
Alternative suppliers are plentiful because of standardization of the product.
The buyer buys a large proportion of the seller's product or service.
The purchased product represents a high percentage of buyer's costs.
A buyer earns high profits and is very insensitive to costs and service differences.
When strategic managers have a willingness to reject unfamiliar as well as negative
information it is referred to as
A) strategic paralysis
B) corporate inertia.
C) management indifference.
D) strategic myopia.
According to Porter, seeing clothing firms such as Under Armour enter the athletic
shoe industry would reflect a
A) medium bargaining power of suppliers.
B) low threat of substitutes.
C) medium bargaining power of buyers.
D) high threat of potential entrants.
Which barrier to entry was demonstrated by Microsoft's development of the first widely
adopted operating system (MS-DOS) for the IBM-type personal computer that gave it a
significant competitive advantage over potential competitors?
government policy
access to distribution channels
cost disadvantages independent of size
capital requirements
Intel was able to gain a significant cost advantage over its competitors in the production and
sale of microprocessors because of
capital requirements.
product differentiation.
switching costs.
economies of scale.
its own automotive parts, Delphi Automotive Supply Company would be concerned
with the
bargaining power of suppliers.
bargaining power of buyers.
rivalry among existing competitors.
threat of substitutes.
Which of the following is not descriptive of a high level of bargaining power of suppliers?
Substitutes are readily available.
The product or service is unique.
The supplier industry is dominated by a few companies, but sells too many.
The purchasing industry buys only a small portion of the supplier group's goods and
services.
Other software companies would not compete with Microsoft based on the perceived
hesitation of consumers to try new software. Which of Porter's forces does this reflect?
exit barriers
bargaining power of buyers
threat of substitutes
bargaining power of suppliers
A relationship that illustrates the term "complementor" is
Microsoft and Intel
General Motors and Ford.
Hewlett Packard and Compaq.
Gateway and Dell.
The strength of each of the six driving forces of industry competition varies according to the
effectiveness of the strategic planning
stage of industry evolution.
capital requirements.
changes in the political environment
The U.S. major home appliance industry is an example of an industry
that has evolved from an oligopoly to a monopoly.
in which each company maintained a distinct product line.
that was once fragmented, but now is consolidated.
that has experienced consistent, increasing sales.
Which of the following is an example of an industry in which companies manufacture and
sell the same products, with only minor adjustments made for individual countries around the
world?
retailing
banking
tires
insurance
Two factors tend to determine whether an industry will be primarily multi-domestic or
primarily global. One of the factors is pressure for coordination within the MNCs operating in
that industry. The other factor is
A) the pressure for local responsiveness on the part of individual country markets.
the power of the local country governments to restrict MNC actions.
the need for brand management in the various MNCs operating within that industry.
the importance of differentiating with integrating mechanisms in regional
cooperatives.
When the pressure for coordination is strong and the pressure for local responsiveness is
weak for multi-national corporations within a particular industry, the industry will tend to
become
consolidated.
global
risky
multi-domestic.
When the pressure for local responsiveness is strong and the pressure for coordination is
weak for multi-national corporations in an industry, the industry will tend to become
global
risky
multi-domestic.
consolidated
Which of the following is not one of the general strategic types according to Miles and
Snow?
initiators
reactors
analyzers
prospectors
According to Miles and Snow, which strategic orientation is demonstrated by companies that
have a limited product line and focuses on improving the efficiency of their existing operations?
initiators
reactors
analyzers
defenders
According to Miles and Snow, a company that operates in at least two different productmarket areas in which one product is stable and the other one is variable, reflects which strategic
orientation?
initiators
reactors
analyzers
prospectors
According to Miles and Snow, companies with fairly broad product lines that focus on
product innovations and market opportunities, such as Frito-Lay, reflect which strategic
orientation?
initiators
reactors
analyzers
prospectors
A table which summarizes the key success factors within a particular industry is called a(n)
EFAS Table.
IFAS Table.
IFAS Table.
industry matrix.
Which of the following is true in regards to competitive intelligence?
The Economic Espionage Act makes it illegal to steal any material that a business
has taken "reasonable efforts" to keep secret.
The Society of Competitive Intelligence Professionals urges strategists to stay
within the law and to act ethically when searching for information
The competitive intelligence function is always housed in its own unit
within organizations.
The Society of Competitive Intelligence Professionals states that illegal activities
are foolish because the vast majority of worthwhile competitive intelligence is
available publicly via annual reports, websites, and libraries.
Over ___ of large companies use trend extrapolation for forecasting.
20%
30%
40%
70%
A study of nearly 500 of the world's largest corporations indicated which of the following
to be the most widely practiced form of forecasting?
statistical modeling
scenario-writing
Delphi technique
trend extrapolation
According to Miles and Snow, most major U.S. airlines have reflected whichstrategic
orientation?
initiators
reactors
analyzers
prospectors
To succeed in a hypercompetitive industry, companies must be willingto
cut prices below marginal costs
pursue market share instead of profits.
pursue market share instead of profits.
cannibalize their successful product lines.
____ rests on the assumption that the world is reasonably consistent and changes
slowly in the short run.
Statistical modeling
Scenario-writing
Brainstorming
Extrapolation
Trend extrapolation is
the process of converting intuition and hunches into reality.
the extension of present trends into the future.
the process of asking some authorities in the area to make an "informed guess" about
the future.
given a large amount of historical data on certain interrelated factors, one attempts to conceptualize alternative futures.
A non-quantitative approach to forecasting that requires simply the presence of people with
some knowledge of the situation to be predicted to propose ideas without first mentally screening
them is called
simulations.
the Delphi technique.
brainstorming.
signal monitoring.
One ground rule necessary for effective brainstorming is
critique each idea for rationality
scrutinize each idea generated.
propose ideas without mentally screening them.
calculating future earnings of each idea.
Regression analysis is an example of which quantitative forecasting technique?
the Delphi technique
statistical modeling
brainstorming
trend-impact analysis
The most widely used forecasting technique used after trend extrapolation is
statistical modeling.
simulations.
scenario-writing
expert opinion.
Which one of the following is not part of the process of developing industry scenarios
Identify uncertainties in each of the six forces in the task environment.
Examine possible shifts in societal variables.
Generate at least 15 scenarios
Analyze the industry situation that would prevail under each scenario.
Strategy formulation or strategic planning begins with a(n) ________, which is
the process of finding a strategic fit between external oppor tunities and internal
strengths while working around external threats and internal weaknesses.
Objective analysis.
Position analysis.
Situation analysis.
Strategic evaluation.
Strategic planning in a multidivisional corporation
Should be a formalized and sophisticated system
Should encourage a clear delineation between top management and lower-level
managers.
Should be instigated only from the main corporate office.
Should be accomplished quickly to decrease the likelihood of it becoming
outdated.
Which of the following questions ought to be used to distinguish a winning
strategy from a so-so or flawed strategy?
Is the company putting too little emphasis on growth and profitability and too
much emphasis on behaving in an ethical and socially responsible manner?
Does the strategy contain a sufficient number of emergent/reactive elements?
Is the strategy resulting in the development of additional competitive capabilities?
Is the strategy well-matched to the company' s situation, helping the company
achieve a sustainable competitive advantage, and resulting in better company
performance?
In evaluating proposed or existing strategies managers should
Evaluate the firm' s business model at least every three years.
Ensure core capabilities are incorporated for establishing a competitive
advantage.
Examine the company' s existing strategies compatibility with desired outcomes
on a regular basis.
Initiate new initiatives even though they don 't seem to match the company' s
internal and external situation
An acronym for the assessment of the external and internal environments
of the business corporation in the process of strategy formulation/strategic
planning is
SWOT
MBO
EFAS
IFAS
What are the three generic competitive strategies that Porter promotes as
the means for outperforming other corporations in a particular industry?
Diversification, concentration, and competitive scope
Concentration, cost leadership, and differentiation
Cost, competitive scope, and focus
Cost leadership, differentiation, and focus
Walmart, as a discount retailer , is an example of a company following which
of Porter' s competitive strategies?
Differentiation
Differentiation focus
Competitive advantage
Cost leadership
According to Porter , a business unit in a competitive marketplace with no
generic competitive strategy is
Last in line
Stuck in the middle.
Practicing innovative leadership.
Not goal directed
The two general types of cooperative strategies are
Strategic alliances and collusion.
Strategic alliances and competitive.
Competitive and functional.
Collusion and competitive.
Product engineering, creative flair , and strong cooperation from channels
are commonly required skills and resources for which of Porter' s generic
strategies?
Differentiation
Cost leadership focus
Differentiation focus
Cost leadership
Intense supervision of labor , sustained capital investment and access to
capital are commonly required skills and resources for which of Porter' s generic
competitive strategies?
Cost leadership
Cost leadership focus
Differentiation focus
Differentiation
Which strategy specifies the firm ' s overall direction in terms of its general
orientation toward growth, the industries or markets in which it competes, and the
manner in which it coordinates activities and transfers resources among
business units?
Divisional
Organizational
Functional
Corporate
The pricing, selling, and distributing of a product is referred to as a(n)
________ strategy .
Operations
Marketing
Functional
Financial
All of the following are benefits for a company to raising its debt levels
EXCEPT
Improve strategic options available.
Improve cash flows.
Force management to focus on core businesses.
Improve productivity.
Leveraged buyouts are also sometimes referred to as
Management bargains.
Coordinated buyouts.
Leveraged bargains.
Management buyouts.
The strategy that deals with product and process innovation and
improvement is known as a(n) ________ strategy
Financial
Marketing
Operations
R&D
A company that pioneers an innovation is called a
Technological manufacturer
Technological opportunist
Technological follower
Technological leader
A company that imitates the products of competitors is referred to as a
Technological follower .
Technological opportunist.
Technological manufacturer .
Technological leader .
A flexible manufacturing system is
One-of-a-kind production using skilled labor .
Highly automated assembly lines making one mass-produced product using little
human labor .
A process utilizing the just-in-time (JIT) method of manufacturing.
A grouping of parts into manufacturing families to produce a wide variety of
mass-produced items.
Which of the following statements about a company's realized strategy is true? *
Ensure core capabilities are incorporated for establishing a competitive advantage.
Examine the company's existing strategies compatibility with desired outcomes on a regular basis.
Initiate new initiatives even though they don't seem to match the company's internal and external situation.
Evaluate the firm's business model at least every three years.
When a company deals with obtaining raw materials, parts, and supplies
needed to perform the operations function, the company is developing its
________ strategy
Financial
Operations
Purchasing
R&D
The purchasing strategy used by an automobile manufacturer when it
orders seats for a specific car model from several vendors is
Backup sourcing.
Multiple sourcing.
Just-in-time sourcing.
Sole sourcing.
The flow of products into and out of the manufacturing process is a factor
when developing a(n) ________ strategy
Logistics
Financial
Operations
Marketing
What is likely to be the effect of a logical corporate strategy , but poor
strategy implementation.
Structural and stylistic flaws.
Strategic weaknesses and underachievement.
Fragmented performance, through strategic and structural flaws.
Effectiveness, but little efficiency .
Which of these is not a valid reason, in support of focused strategies?
Cost reduction
Competence consolidation.
Reduction of weak business to develop a strong core.
Greater control.
Which of the following, is not a strategic criteria for deciding which firms to
retain in the organizational core?
Financial performance over time.
The company’ s mission.
Relatedness of technologies.
Longevity .
Which of these is not an activity associated with restructuring?
Value optimization.
Intervening in business processes.
Hoarding new businesses.
Acquiring unrelated businesses.
Corporate resource allocation may be different, depending on the speed of growth of the organization. Which of the following is inappropriate when facing rapid growth?
Look to share activities.
Past allocations and budgets.
Opportunities for synergy .
Assess desirability of outcomes to organizational strategy .
Which of the following is not an aspect, of the definition, of the term budgets?
Concerned with allocation of resources and investment.
Information on cash-flow.
Numerical or financial expression of money to be spent by departments and for what purpose.
A strategic plan outlining means to utilize budget, make sales, and generate profits.
How many steps are there in effective risk management?*
Eight
Two
Three
Four
What are designed to guide managers in the pursuit, and achievement, of strategies and objectives?*
Budgets
Policies
Procedures
Plans
Strategy effectiveness, and competitive success, are dependent on which of the following groups of competencies?*
Change, planning, learning
Content, change, learning
Learning, planning, content
Content, change, planning
Which of the following competencies relates to functionality
Developing and introducing new processes, for cost savings and speedier decision-making
Providing excellent quality, which is recognized by customers
Avoid business failures by becoming and staying crisis averse
Manage 'green' issues to avoid crises or create competitive advantage
