Question 1

Restructuring by turnaround often occurs along with a change in top management.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is the last step in the process of strategic management?

Accepted Answer

A)  Strategic analysis 
B)  Strategy formulation 
C)  Strategy implementation 
D)  Strategic marketing 
E)  Strategic outsourcing 
A)  Strategic analysis 
B)  Strategy formulation 
C)  Strategy implementation 
D)  Strategic marketing 
E)  Strategic outsourcing

Question 3

Which of the following is an internal SWOT assessment of the organization? The organization ____

Accepted Answer

A)  has new competitors 
B)  has outdated facilities. 
C)  has to follow new regulations 
D)  is in a strong economy. 
E)  is facing changing market tastes 
A)  has new competitors 
B)  has outdated facilities. 
C)  has to follow new regulations 
D)  is in a strong economy. 
E)  is facing changing market tastes

Question 4

Questions such as "How can we best utilize resources within a specific area of operations to implement our business strategy?" are typically asked while discussing the _____ strategy.

Accepted Answer

A)  branding 
B)  divisional 
C)  corporate 
D)  functional 
E)  business 
A)  branding 
B)  divisional 
C)  corporate 
D)  functional 
E)  business

Question 5

_____ is where a business closes and sells its assets to pay creditors.

Accepted Answer

A)  Concentration 
B)  Diversification 
C)  Vertical integration 
D)  Liquidation 
E)  Strategic alliance 
A)  Concentration 
B)  Diversification 
C)  Vertical integration 
D)  Liquidation 
E)  Strategic alliance

Question 6

The financial statement of Labyrinth Inc., a heavy-metal industry, for the year 2013, showed a loss in revenue. The main cause was the entry of new competitors in the market, with advanced skill and expertise. The company decided to conduct an internal assessment of the organization's weaknesses through a SWOT analysis. What was the possible deduction arrived at by the company through its internal analysis?

Accepted Answer

A)  New regulations 
B)  Strong economy 
C)  Shortage of resources 
D)  Inadequate research and design 
E)  Weak market rivals 
A)  New regulations 
B)  Strong economy 
C)  Shortage of resources 
D)  Inadequate research and design 
E)  Weak market rivals

Question 7

A(n) ____ competency is a special strength that gives and organization a competitive advantage.

Accepted Answer

The answer of A(n) ____ competency is a special strength...

Question 8

A(n) ____ strategy concentrates on serving a unique market segment better than anyone else.

Accepted Answer

The answer of A(n) ____ strategy concentrates on serving a...

Question 9

An unattractive industry is one in which there are high barriers to entry.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is a defining characteristic of a SWOT analysis?

Accepted Answer

A)  It examines the diversity at the work place and increases cohesiveness. 
B)  It is based on the statistical principle of multivariate. 
C)  It identifies things that inhibit optimum performance achievement. 
D)  It determines the level of sales needed in order to breakeven. 
E)  It is based on a year-to-year comparison of a firm's ratios. 
A)  It examines the diversity at the work place and increases cohesiveness. 
B)  It is based on the statistical principle of multivariate. 
C)  It identifies things that inhibit optimum performance achievement. 
D)  It determines the level of sales needed in order to breakeven. 
E)  It is based on a year-to-year comparison of a firm's ratios.

Question 11

Which of the following examples best captures the function of a strategic leader?

Accepted Answer

A)  Vincent ensures the optimum allocation and consistent use of resources in his firm. 
B)  Don refrains from pressurizing his subordinates and allows them to be complacent. 
C)  Clarence allows her employees to carve their own paths rather than acting as a teacher. 
D)  Hethilda limits her interactions with her subordinates and disapproves the questioning of her orders. 
E)  Sarah trusts her subordinates and does not cross-check their work. 
A)  Vincent ensures the optimum allocation and consistent use of resources in his firm. 
B)  Don refrains from pressurizing his subordinates and allows them to be complacent. 
C)  Clarence allows her employees to carve their own paths rather than acting as a teacher. 
D)  Hethilda limits her interactions with her subordinates and disapproves the questioning of her orders. 
E)  Sarah trusts her subordinates and does not cross-check their work.

Question 12

A _____ strategy typically sets long-term direction for the total enterprise.

Accepted Answer

A)  branding 
B)  business 
C)  corporate 
D)  functional 
E)  marketing 
A)  branding 
B)  business 
C)  corporate 
D)  functional 
E)  marketing

Question 13

A _____ begins with a systematic evaluation of the organization's resources and capabilities and focuses on identifying the organization's core competencies.

Accepted Answer

A)  functional strategy 
B)  mission statement 
C)  flanking strategy 
D)  branding analysis 
E)  SWOT analysis 
A)  functional strategy 
B)  mission statement 
C)  flanking strategy 
D)  branding analysis 
E)  SWOT analysis

Question 14

Which of the following is the first step in the process of strategic management?

Accepted Answer

A)  Strategic analysis 
B)  Strategy formulation 
C)  Strategy implementation 
D)  Strategic marketing 
E)  Strategic outsourcing 
A)  Strategic analysis 
B)  Strategy formulation 
C)  Strategy implementation 
D)  Strategic marketing 
E)  Strategic outsourcing

Question 15

Retrenchment make take the form of a Chapter 11 bankruptcy.

Accepted Answer

A) True 
 B)False

Question 16

Verticone, a software firm, suffered heavy loss due to poor analysis and bad strategy selection. The loss occurred in this example is the result of _____.

Accepted Answer

A)  representativeness bias 
B)  failures of substance 
C)  goal displacement 
D)  congruence bias 
E)  endowment effect 
A)  representativeness bias 
B)  failures of substance 
C)  goal displacement 
D)  congruence bias 
E)  endowment effect

Question 17

Businesses or products with high-market shares in low-growth markets are referred to as _____ in the BCG Matrix.

Accepted Answer

A)  Cash Cows 
B)  Stars 
C)  Question Marks 
D)  Dogs 
E)  Apples 
A)  Cash Cows 
B)  Stars 
C)  Question Marks 
D)  Dogs 
E)  Apples

Question 18

The preferred strategy for Dogs is:

Accepted Answer

A)  stability or modest growth. 
B)  retrenchment. 
C)  decrease of current operations. 
D)  to grow or retrench the dogs. 
E)  growth and heavy resource investments. 
A)  stability or modest growth. 
B)  retrenchment. 
C)  decrease of current operations. 
D)  to grow or retrench the dogs. 
E)  growth and heavy resource investments.

Question 19

Elaborate on the present day corporate strategies.

Accepted Answer

A key aspect of corporate strategy today

Question 20

_____ increases the threat of new competitors in a market.

Accepted Answer

A)  Few competitors 
B)  Low barriers to entry 
C)  Few substitute products 
D)  High power of customers 
E)  Low power of suppliers 
A)  Few competitors 
B)  Low barriers to entry 
C)  Few substitute products 
D)  High power of customers 
E)  Low power of suppliers

Restructuring by turnaround often occurs along with a change in top management.

Which of the following is the last step in the process of strategic management?

Which of the following is an internal SWOT assessment of the organization? The organization ____

Questions such as "How can we best utilize resources within a specific area of operations to implement our business strategy?" are typically asked while discussing the _____ strategy.

_____ is where a business closes and sells its assets to pay creditors.

A(n) ____ competency is a special strength that gives and organization a competitive advantage.

A(n) ____ strategy concentrates on serving a unique market segment better than anyone else.

An unattractive industry is one in which there are high barriers to entry.

Which of the following is a defining characteristic of a SWOT analysis?

Which of the following examples best captures the function of a strategic leader?

A _____ strategy typically sets long-term direction for the total enterprise.

A _____ begins with a systematic evaluation of the organization's resources and capabilities and focuses on identifying the organization's core competencies.

Which of the following is the first step in the process of strategic management?

Retrenchment make take the form of a Chapter 11 bankruptcy.

Verticone, a software firm, suffered heavy loss due to poor analysis and bad strategy selection. The loss occurred in this example is the result of _____.

Businesses or products with high-market shares in low-growth markets are referred to as _____ in the BCG Matrix.

The preferred strategy for Dogs is:

Elaborate on the present day corporate strategies.

_____ increases the threat of new competitors in a market.

Management, Managers, and Careers

Management Learning Past to Present

Ethics and Social Responsibility

Environment, Technology, and Sustainability

Global Management and Cultural Diversity

Entrepreneurship and New Ventures

Data and Decision Making

Planning Processes and Techniques

Control Processes and Systems

Organization Structures

Organizational Culture and Change

Human Resource Management

Leading and Leadership Development

Individual Behavior

Motivation Theory and Practice

Teams and Teamwork

Communication and Collaboration

Filters

Exam 10: Strategy and Strategic Management

Restructuring by turnaround often occurs along with a change in top management.

Which of the following is the last step in the process of strategic management?

Which of the following is an internal SWOT assessment of the organization? The organization ____

Questions such as "How can we best utilize resources within a specific area of operations to implement our business strategy?" are typically asked while discussing the _____ strategy.

_____ is where a business closes and sells its assets to pay creditors.

A(n) ____ competency is a special strength that gives and organization a competitive advantage.

A(n) ____ strategy concentrates on serving a unique market segment better than anyone else.

An unattractive industry is one in which there are high barriers to entry.

Which of the following is a defining characteristic of a SWOT analysis?

Which of the following examples best captures the function of a strategic leader?

A _____ strategy typically sets long-term direction for the total enterprise.

A _____ begins with a systematic evaluation of the organization's resources and capabilities and focuses on identifying the organization's core competencies.

Which of the following is the first step in the process of strategic management?

Retrenchment make take the form of a Chapter 11 bankruptcy.

Verticone, a software firm, suffered heavy loss due to poor analysis and bad strategy selection. The loss occurred in this example is the result of _____.

Businesses or products with high-market shares in low-growth markets are referred to as _____ in the BCG Matrix.

The preferred strategy for Dogs is:

Elaborate on the present day corporate strategies.

_____ increases the threat of new competitors in a market.

Management, Managers, and Careers

Management Learning Past to Present

Ethics and Social Responsibility

Environment, Technology, and Sustainability

Global Management and Cultural Diversity

Entrepreneurship and New Ventures

Data and Decision Making

Planning Processes and Techniques

Control Processes and Systems

Organization Structures

Organizational Culture and Change

Human Resource Management

Leading and Leadership Development

Individual Behavior

Motivation Theory and Practice

Teams and Teamwork

Communication and Collaboration

Filters