Question 1

Lack of participation error is a failure to include ____ persons in strategic planning.

Accepted Answer

The answer of Lack of participation error is a failure...

Question 2

Restructuring by divestiture is mostly followed by organizations that are focused and not complex.

Accepted Answer

A) True 
 B)False

Question 3

A growth strategy involves expansion of an organization's current operations.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following best defines the term "sustainable competitive advantage"?

Accepted Answer

A)  It is the ability to outperform rivals in ways that are difficult or costly to imitate. 
B)  It is the ability to formulate technology to gain market exposure. 
C)  It is the ability to focus organizational energies on a unifying and compelling goal. 
D)  It is the ability to formulate strategies efficiently to accomplish long-term goals. 
E)  It is the ability to identify the setbacks in the organizational procedure and work towards correcting them. 
A)  It is the ability to outperform rivals in ways that are difficult or costly to imitate. 
B)  It is the ability to formulate technology to gain market exposure. 
C)  It is the ability to focus organizational energies on a unifying and compelling goal. 
D)  It is the ability to formulate strategies efficiently to accomplish long-term goals. 
E)  It is the ability to identify the setbacks in the organizational procedure and work towards correcting them.

Question 5

If a company focuses on operating with a net profit, the company is typically operating with the ____ objective.

Accepted Answer

A)  Cost efficiency 
B)  Financial health 
C)  Profitability 
D)  Social responsibility 
E)  Sustainability 
A)  Cost efficiency 
B)  Financial health 
C)  Profitability 
D)  Social responsibility 
E)  Sustainability

Question 6

The term _____ is often used to describe a business firm that is part of a larger enterprise.

Accepted Answer

A)  supplier alliance 
B)  strategic business unit 
C)  joint venture 
D)  cash cow 
E)  co-opetitor 
A)  supplier alliance 
B)  strategic business unit 
C)  joint venture 
D)  cash cow 
E)  co-opetitor

Question 7

Which of the following is a defining characteristic of a differentiation strategy?

Accepted Answer

A)  The strategic objective is to attract customers who stay loyal to the firm's unique products. 
B)  It seeks competitive advantage by operating with lower costs than competitors. 
C)  Success with the differentiation strategy requires tight cost and managerial controls. 
D)  It aims at products or services that are easy to create and distribute. 
E)  It involves working with rivals on projects of mutual benefit. 
A)  The strategic objective is to attract customers who stay loyal to the firm's unique products. 
B)  It seeks competitive advantage by operating with lower costs than competitors. 
C)  Success with the differentiation strategy requires tight cost and managerial controls. 
D)  It aims at products or services that are easy to create and distribute. 
E)  It involves working with rivals on projects of mutual benefit.

Question 8

Strategy ____ is the process of putting strategies into action.

Accepted Answer

The answer of Strategy ____ is the process of putting...

Question 9

It is a strategic leader's job to teach the strategy and make it a "cause."

Accepted Answer

A) True 
 B)False

Question 10

Which of the following allows organizations to make profits while selling products or services at low prices that their competitors can't profitably match?

Accepted Answer

A)  Cost leadership strategy 
B)  Stuck-in-the-middle strategy 
C)  Focused differentiation strategy 
D)  Differentiation strategy 
E)  Co-opetition strategy 
A)  Cost leadership strategy 
B)  Stuck-in-the-middle strategy 
C)  Focused differentiation strategy 
D)  Differentiation strategy 
E)  Co-opetition strategy

Question 11

A _____ strategy guides activities within one specific area of operations.

Accepted Answer

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

Question 12

Vintop Inc., a successful designer brand, has several outlets in the U.S. To push sales growth, Vintop has decided to focus more on its primary business and open up its branches in ten different countries. This approach taken by Vintop is an example of growth through _____.

Accepted Answer

A)  strategic alliance 
B)  vertical integration 
C)  liquidation 
D)  diversification 
E)  concentration 
A)  strategic alliance 
B)  vertical integration 
C)  liquidation 
D)  diversification 
E)  concentration

Question 13

Enigma Breweries, a distillery company, bought Suave Clothing, a premium men's fashion boutique chain. By entering a different business area, Enigma Breweries plans to grow and expand its business and profits. Which type of growth strategy has Enigma Breweries adopted?

Accepted Answer

A)  Growth through concentration 
B)  Growth through diversification 
C)  Market development strategy 
D)  Market penetration strategy 
E)  Product development strategy 
A)  Growth through concentration 
B)  Growth through diversification 
C)  Market development strategy 
D)  Market penetration strategy 
E)  Product development strategy

Question 14

Strategic ____ focuses and applies organizational energies on a unifying and compelling goal.

Accepted Answer

The answer of Strategic ____ focuses and applies organizational energies...

Lack of participation error is a failure to include ____ persons in strategic planning.

Restructuring by divestiture is mostly followed by organizations that are focused and not complex.

A growth strategy involves expansion of an organization's current operations.

Which of the following best defines the term "sustainable competitive advantage"?

If a company focuses on operating with a net profit, the company is typically operating with the ____ objective.

The term _____ is often used to describe a business firm that is part of a larger enterprise.

Which of the following is a defining characteristic of a differentiation strategy?

Strategy ____ is the process of putting strategies into action.

It is a strategic leader's job to teach the strategy and make it a "cause."

Which of the following allows organizations to make profits while selling products or services at low prices that their competitors can't profitably match?

A _____ strategy guides activities within one specific area of operations.

Vintop Inc., a successful designer brand, has several outlets in the U.S. To push sales growth, Vintop has decided to focus more on its primary business and open up its branches in ten different countries. This approach taken by Vintop is an example of growth through _____.

Enigma Breweries, a distillery company, bought Suave Clothing, a premium men's fashion boutique chain. By entering a different business area, Enigma Breweries plans to grow and expand its business and profits. Which type of growth strategy has Enigma Breweries adopted?

Strategic ____ focuses and applies organizational energies on a unifying and compelling goal.

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

Lack of participation error is a failure to include ____ persons in strategic planning.

Restructuring by divestiture is mostly followed by organizations that are focused and not complex.

A growth strategy involves expansion of an organization's current operations.

Which of the following best defines the term "sustainable competitive advantage"?

If a company focuses on operating with a net profit, the company is typically operating with the ____ objective.

The term _____ is often used to describe a business firm that is part of a larger enterprise.

Which of the following is a defining characteristic of a differentiation strategy?

Strategy ____ is the process of putting strategies into action.

It is a strategic leader's job to teach the strategy and make it a "cause."

Which of the following allows organizations to make profits while selling products or services at low prices that their competitors can't profitably match?

A _____ strategy guides activities within one specific area of operations.

Vintop Inc., a successful designer brand, has several outlets in the U.S. To push sales growth, Vintop has decided to focus more on its primary business and open up its branches in ten different countries. This approach taken by Vintop is an example of growth through _____.

Enigma Breweries, a distillery company, bought Suave Clothing, a premium men's fashion boutique chain. By entering a different business area, Enigma Breweries plans to grow and expand its business and profits. Which type of growth strategy has Enigma Breweries adopted?

Strategic ____ focuses and applies organizational energies on a unifying and compelling goal.

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