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Strategic management.m

Strategic management.m

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Вопрос 1

The emphasis of strategic management is on

  1. monitoring and evaluating external opportunities and threats considering the corporation's strengths and weaknesses
  2. first line managers
  3. the short-run performance of the corporation
  4. an examination of the organization's internal environment
Вопрос 2

Which of the following was rated as a benefit of strategic management?

  1. clearer sense of vision for the firm
  2. higher levels of employee motivation
  3. higher levels of job satisfaction
  4. improved productivity
Вопрос 3

What are the responsibilities of top management?

  1. Top management responsibilities involve getting things accomplished through and with others in order to meet the corporate objectives
  2. Top management's job is not dimensional and is oriented toward the welfare of the total organization
  3. Specific top management tasks do not vary from firm to firm and are developed from an analysis of the mission, objectives, strategies, and key activities of the corporation
  4. monitoring operational tactics
Вопрос 4

Which of the following is NOT one of the four question in the VRIO framework used to evaluate a firm's key resources?

  1. organization
  2. durability
  3. rareness
  4. value
Вопрос 5

When a company determines that a competency provides a competitive advantage, it refers to this issue as

  1. value
  2. rareness
  3. imitability
  4. organization
Вопрос 6

According the VRIO framework, the firm's exploitation of a competency pertains to

  1. value
  2. rareness
  3. imitability
  4. durability
Вопрос 7

A corporation's ability to exploit its resources is referred to as its

  1. resources
  2. capabilities
  3. core competencies
  4. critical success factors
Вопрос 8

When a company's core competencies are superior to those of competitors, these are known as

  1. resources
  2. distinctive competencies
  3. core competencies
  4. critical success factors
Вопрос 9

The rate at which a firm's underlying resources, capabilities, or core competencies can be duplicated by others is called

  1. replicability
  2. transparency
  3. imitability
  4. durability
Вопрос 10

The speed with which other firms can understand the relationship of resources and capabilities supporting a successful firm's strategy is called

  1. imitability
  2. reverse engineering
  3. transferability
  4. transparency
Вопрос 11

The combination of the degree of complexity and the degree of change existing in an organization's external environment is/are called

  1. strategic factors
  2. strategic issues
  3. environmental uncertainty
  4. strategic fit
Вопрос 12

According to the text, one reason environmental uncertainty is a threat to strategic managers is because

  1. it is a costly and time-consuming process
  2. it creates a new playing field in which creativity and innovation can play a major part in strategic decisions
  3. it forces the strategic manager to be more stable
  4. it hampers their ability to develop long-range plans
Вопрос 13

Which of the following is NOT descriptive of external environmental scanning?

  1. used as a tool to ensure a corporation's long-term health
  2. used to monitor, evaluate, and disseminate information relevant to the organizational development of strategy
  3. used to identify major stockholders
  4. used as a tool for corporations to avoid strategic surprise
Вопрос 14

The corporation's task environment

  1. encompasses the physical working areas of the organization
  2. includes those elements or groups within an organization's industry
  3. is an advisory committee to top management
  4. is an accounting of the many jobs within an organization
Вопрос 15

Which of the following is NOT an element of the organization's task environment?

  1. trade associations
  2. governments
  3. technological developments
Вопрос 16

Which environment was generally perceived by business people to be something to exploit, not conserve until the twentieth century?

  1. the task environment
  2. the natural environment
  3. the internal environment
  4. the societal environment
Вопрос 17

Which of the following is NOT a major force in the societal environment?

  1. political-legal forces
  2. labor forces
  3. economic forces
  4. technological forces
Вопрос 18

Which societal force includes demographic trends?

  1. political-legal forces
  2. labor forces
  3. economic forces
  4. sociocultural forces
Вопрос 19

A company with significant assets and activities in multiple countries is known as a(n)

  1. multinational corporation
  2. repatriated corporation
  3. transferable corporation
  4. duplicate corporation
Вопрос 20

The origin of competitive advantage lies in the ability to

  1. gain major stockholders
  2. identify and respond to environmental change well in advance of competition
  3. launch products quickly
  4. serve customers faster
Вопрос 21

Industry analysis is primarily concerned with a corporation's

  1. societal environment
  2. task environment
  3. sociocultural environment
  4. economic environment
Вопрос 22

According to Porter, the corporation is most concerned with

  1. the intensity of competition within its industry
  2. the aggregate level of demand for a product line
  3. a market's position on its life cycle
  4. the amount of pressure from the societal environment
Вопрос 23

According to Porter, the collective strength of the interaction of potential entrants, buyers, substitutes, suppliers, firm rivalry, and other stakeholders determine

  1. the level of government action in an industry
  2. the probable industry attractiveness and business strength position
  3. the ultimate profit potential in the industry measured in terms of long-run return on invested capital
  4. the aggregate level of demand for a product line
Вопрос 24

According to Porter's model, a strong or high force is likely to reduce profits and can be regarded as a(n)

  1. benefit
  2. opportunity
  3. advantage
  4. threat
Вопрос 25

According to Porter's model, a low force can enable the company to earn greater profits and can be regarded as a(n)

  1. benefit
  2. opportunity
  3. advantage
  4. threat
Вопрос 26

The concept that advocates management's attempt to find a strategic fit between external opportunities and internal strengths while working around external threats and internal weaknesses is called

  1. environmental analysis
  2. position analysis
  3. strategic evaluation
  4. situation analysis
Вопрос 27

The essence of strategy is

  1. opportunity divided by strengths minus weaknesses
  2. strength divided by opportunity
  3. threat divided by capacity
  4. threat divided by opportunity
Вопрос 28

A corporation's specific competitive role which is so well-suited to the firm's internal and external environment that other corporations are NOT likely to challenge or dislodge it.

  1. strategic fit
  2. favorable niche
  3. common thread
  4. business screen
Вопрос 29

Business strategy focuses on

  1. ensuring that the company maintains the existing market share that it has historically enjoyed
  2. improving the competitive position of a corporation's products or services within the industry or market segment served
  3. providing adequate shareholders' return on investment
  4. preventing the competition from gaining a competitive edge by undermining their marketing plan
Вопрос 30

According to Porter, the generic competitive strategy that reflects the ability of the corporation or its business unit to design, produce, and market a comparable product more efficiently than its competitors is called

  1. competitive scope
  2. differentiation
  3. cost leadership
  4. diversification
Вопрос 31

What are the three generic competitive strategies that Porter promotes as the means for outperforming other corporations in a particular industry?

  1. competitive scope, differentiation and focus
  2. diversification, concentration and competitive scope
  3. cost, competitive scope and focus
  4. cost leadership, differentiation and focus
Вопрос 32

According to Porter, the generic competitive strategy that reflects the ability to provide unique and superior value to the buyer in terms of product quality, special features, or after-sale service is called

  1. competitive scope
  2. differentiation
  3. focus
  4. diversification
Вопрос 33

According to Porter, the term that applies to the breadth of a company's or business unit's target market is called

  1. competitive scope
  2. differentiation
  3. focus
  4. diversification
Вопрос 34

Walmart, as a discount retailer, is an example of a company following which of Porter's competitive strategies?

  1. differentiation
  2. cost leadership
  3. differentiation focus
  4. competitive advantage
Вопрос 35

Apple is an example of a company following which of Porter's generic competitive strategies?

  1. cost leadership
  2. differentiation
  3. cost focus
  4. competitive scope
Вопрос 36

Which of Porter's competitive strategies recommends that a company emphasize a particular buyer group or geographic market and attempts to seek a cost advantage in its targeted segment?

  1. differentiation
  2. cost leadership
  3. differentiation focus
  4. cost focus
Вопрос 37

Which of Porter's competitive strategies concentrates on seeking differentiation in a particular buyer group, product line segment, or geographic market?

  1. differentiation
  2. cost leadership
  3. differentiation focus
  4. competitive advantage
Вопрос 38

When a company following a differentiation strategy ensures that the higher price it charges for its higher quality is not priced too far above the price of the competition, the company is using the process of

  1. low-cost differentiation
  2. cost leadership
  3. cost proximity
  4. basic differentiation
Вопрос 39

Which of the following is NOT one of the risks of a cost leadership strategy?

  1. The technology that the organization has been using changes
  2. Achieving excessive success causes jealousy amongst competitors
  3. Competitors can achieve viable imitations
  4. Other bases for cost leadership erode
Вопрос 40

Most entrepreneurial ventures follow … to drive competitiveness

  1. differentiation strategies
  2. focus strategies
  3. no strategies
  4. cost leadership strategies
Вопрос 41

The sum total of the activities and choices required for the execution of a strategic plan is known as

  1. strategic formulation
  2. strategy implementation
  3. evaluation and control
Вопрос 42

Which statement below is NOT true of strategy implementation?

  1. It is the process by which strategies and policies are put into action through the development of programs/tactics, budgets, and procedures
  2. Implementation is often considered after strategy has been formulated
  3. Strategy implementation is the sum total of the activities and choices required for the execution of a strategic plan
  4. Strategy implementation should be kept separate and distinct from that of strategic management
Вопрос 43

A survey of 93 Fortune 500 firms found ten major problems that over half of the group experienced when they attempted to implement a strategic change. Which of the following is NOT one of the implementation problems?

  1. ineffective coordination of activities
  2. uncontrollable external environmental factors
  3. time allocated for implementation was adequate, but was used inappropriately
  4. poor definition of key implementation tasks and activities
Вопрос 44

Who typically implements strategy in large, multi-industry corporations?

  1. the board of directors
  2. top management
  3. middle management
  4. everyone in the organization
Вопрос 45

It is advisable to have management from all levels participate in the strategy formulation process

  1. because it is a legal requirement
  2. because collective bargaining agreements often mandate worker participation
  3. to gain an insight as to what work needs to be done and to gain cooperation in the implementation of the strategy
  4. because it is part of their job responsibilities to provide input regarding their respective area of expertise
Вопрос 46

The term used in strategic implementation that describes a statement of activities or steps needed to accomplish a single-use plan and whose use is to make the strategy action-oriented is

  1. program
  2. guidelines
  3. budgets
  4. course of action
Вопрос 47

The term used in strategic implementation that describes a system of sequential steps or techniques that describe in detail how a particular task or job is to be done is

  1. program
  2. guidelines
  3. budgets
  4. procedures
Вопрос 48

Which form of synergy was demonstrated when P&G purchased Gillette to combine P&G's knowledge of the female consumer with Gillette's knowledge of the male consumer?

  1. shared tangible resources
  2. shared know-how
  3. coordinated strategies
  4. economies of scale
Вопрос 49

Which factors MUST be closely aligned to avoid the consequences of poor organizational performance?

  1. management, workforce, and customers
  2. operations, marketing, and finance
  3. strategy, structure, and environment
  4. rules, goals, and tasks
Вопрос 50

When companies coordinate the flow of products or services of one unit with that of another unit to reduce inventory, the synergistic effect is known as

  1. pooled negotiating power
  2. shared know-how
  3. coordinated strategies
  4. economies of scale
Вопрос 51

Which structure simultaneously combines functional and product forms at the same level of the organization?

  1. strategic business units
  2. functional structure
  3. divisional structure
  4. matrix structure
Вопрос 52

Which of the following is NOT descriptive of the matrix structure?

  1. People from functional units are often assigned on a temporary basis to product units
  2. Although employees often work on one or more product units, they maintain only one direct supervisor
  3. The matrix structure is very useful when the external environment is very uncertain
  4. The matrix structure can produce conflicts revolving around duties, authority, and resource allocation
Вопрос 53

The radical redesign of business processes to achieve major gains in cost, service, or time is called

  1. total quality management
  2. reengineering
  3. management by objectives
  4. action planning
Вопрос 54

A multinational corporation

  1. is synonymous with an international corporation
  2. has limited involvement through the world
  3. has a worldwide perspective in its decision making
  4. has limited perspective in its management
Вопрос 55

Which type of chief executive officer with a conservative style, a production or engineering background, and experience with controlling budgets, capital expenditures, inventories, and standardization procedures would be appropriate for a corporation following a stability strategy?

  1. professional liquidator
  2. dynamic industry expert
  3. turnaround specialist
  4. cautious profit planner
Вопрос 56

According to the text, the process of replacing a key top manager is called

  1. executive succession
  2. executive placement
  3. executive strategy
  4. executive search
Вопрос 57

Which strategy is developed to pull together the various activities and competencies of each department so that corporate and business unit performance improves and resource productivity is maximized?

  1. business strategy
  2. competitive strategy
  3. generic strategy
  4. functional strategy
Вопрос 58

Which one of the following best describes a divisional structure?

  1. Work is divided into subunits on the basis of such functions as manufacturing, marketing, finance, and human resources
  2. This is most appropriate for large corporations with many product lines in several related industries, with employees acting as functional specialists attempting to gain synergy among divisional activities
  3. This is most appropriate for small, entrepreneur-dominated companies with one or two product lines that operate in a small niche market, with employees acting as jack-of-all trades
  4. Employees have two or more superiors, a project manager and a functional manager
Вопрос 59

The strategy that deals with product and process innovation and improvement is known as a(n) … strategy.

  1. marketing
  2. R&D (Research and Development)
  3. operations
  4. financial
Вопрос 60

Which of the following describes a typical functional structure?

  1. Employees tend to be specialists in the business functions important to that industry such as manufacturing, marketing, finance, and human resources
  2. This is most appropriate for large corporations with many product lines in several related industries, with employees acting as specialists attempting to gain synergy among divisional activities
  3. This is most appropriate for small, entrepreneur-dominated companies with one or two product lines that operate in a small niche market, with employees acting as jack-of-all trades
  4. Employees have two or more superiors, a project manager and a functional manager
Вопрос 61

Which one of the following is NOT a part of the evaluation and control of performance?

  1. Establish corporate strategies
  2. Determine what to measure
  3. Establish standards for performance
  4. Measure actual performance
Вопрос 62

If performance data and activity reports indicate undesirable performance as a result of inappropriate use of the strategic management process, operational managers must

  1. immediately notify the board of directors
  2. change the strategic management model
  3. know about it so that they can correct the employee activity
  4. allow sufficient time to pass to verify if it is the process or just the usage that is the problem
Вопрос 63

The end result of activity is known as

  1. measurement
  2. gratuity
  3. performance
  4. return on equity
Вопрос 64

Controls which measure variables that influence future profitability are called

  1. steering controls
  2. activity controls
  3. behavior controls
  4. output controls
Вопрос 65

Which type of control specifies how something is to be done through policies, rules, standard operating procedures, and orders from a superior?

  1. tactical control
  2. strategic control
  3. output control
  4. behavior control
Вопрос 66

Which type of control specifies what is to be accomplished by focusing on the end result of behaviors through the use of objectives and performance targets or milestones?

  1. tactical control
  2. strategic control
  3. output control
  4. functional control
Вопрос 67

The ISO 9000 and 14000 Standards Series as a way to objectively document a company's high level of quality operations are examples of

  1. tactical control
  2. strategic control
  3. output control
  4. behavior control
Вопрос 68

All of the following are examples of behavior controls EXCEPT

  1. monitoring employees' phone calls
  2. monitoring employees' PCs
  3. monitoring employees' Internet usage
  4. sales quotas
Вопрос 69

All of the following are examples of output controls EXCEPT

  1. sales quotas
  2. specific cost reduction objectives
  3. profit objectives
  4. getting to work on time
Вопрос 70

… is a corporate-wide, integrated process to manage the uncertainties that could negatively or positively influence the achievement of the corporation's objectives.

  1. ISO 14000 Series
  2. Input controls
  3. Activity-based costing
  4. Enterprise Risk Management
Вопрос 71

Which of the following is not one of the areas in which goals or objectives should be developed for use in the balanced scorecard approach?

  1. customer
  2. innovation and learning
  3. financial
  4. stakeholder
Вопрос 72

The balanced scorecard approach to evaluation and control assigns to each goal/objective in an area one or more measures that are each essential for achieving a desired strategic option. These measures are called

  1. critical success factors
  2. strategic factors
  3. key performance measures
  4. behavioral measures
Вопрос 73

The continual process of measuring products, services, and practices against the toughest competitors or those companies recognized as industry leaders is

  1. total quality management
  2. benchmarking
  3. action planning
  4. management by objectives
Вопрос 74

A multi-domestic MNC should use what type of controls on its foreign units?

  1. Management should be given considerable latitude but be required to meet some predetermined compliance requirements and performance targets
  2. Management should use a matrix structure allowing some limited autonomy of the foreign unit
  3. Management needs to exert tight controls over its many units using a centralized strategic operational decision-making format
  4. Management should use a functional approach assigning distinct and separate responsibilities to each department throughout the MNC
Вопрос 75

Which one of the following is NOT one of the reasons why many executives do not conduct long-run performance evaluations while preferring to focus primarily on short-run performance?

  1. They do not realize their importance
  2. They are not personally evaluated on a long-term basis
  3. They believe short-run considerations are more important than long-run considerations
  4. They do not believe in strategic planning
Вопрос 76

Which of the following is NOT a guideline for proper control?

  1. Control should involve only a minimum amount of information
  2. Long-term as well as short-term controls should be used
  3. Controls should be timely so that corrective actions can be taken before it is too late
  4. Controls should measure all activities in order to be comprehensive
Вопрос 77

An emphasis on monitoring those few things which must go well to ensure corporate success is reflected in

  1. the 60/40 rule
  2. the 30/70 rule
  3. the 80/20 rule
  4. success factors
Вопрос 78

Using a long-term performance evaluation system, a company executive might be promised incentives such as

  1. company cars
  2. company stock
  3. health insurance
  4. retirement plans