Question 1

In the GE Business Screen portfolio management technique, businesses that have good competitive position in an attractive industry are known as:

Accepted Answer

A)  losers. 
B)  winners. 
C)  profit producers. 
D)  question marks. 
E)  cash cows. 
A)  losers. 
B)  winners. 
C)  profit producers. 
D)  question marks. 
E)  cash cows.

Question 2

Which of the following is an organizational strength?

Accepted Answer

A)  High employee turnover 
B)  High production costs 
C)  Well-established distribution channels 
D)  High purchasing power of customers 
E)  New competitors 
A)  High employee turnover 
B)  High production costs 
C)  Well-established distribution channels 
D)  High purchasing power of customers 
E)  New competitors

Question 3

The top managers at Redd Inc. are developing a plan to reduce the production costs of the company. By reducing costs, Redd wants to gain a competitive advantage of cost leadership. The plan being developed in this scenario is a(n) _____ plan.

Accepted Answer

A)  strategic 
B)  tactical 
C)  operational 
D)  contingency 
E)  recovery 
A)  strategic 
B)  tactical 
C)  operational 
D)  contingency 
E)  recovery

Question 4

Aries Inc. manufactures dairy products and detergents.This is an example of _____ diversification.

Accepted Answer

A)  horizontal 
B)  unrelated 
C)  single-product 
D)  concentric 
E)  related 
A)  horizontal 
B)  unrelated 
C)  single-product 
D)  concentric 
E)  related

Question 5

Understanding the stages in the _____ helps managers recognize that strategies need to evolve over time.

Accepted Answer

product life cycle
The product life cycl

Question 6

In contrast to strategic plans, tactical plans must:

Accepted Answer

A)  specify resources and time frames. 
B)  be developed independently of the internal business environment. 
C)  be developed independently of the external business environment. 
D)  be more general and broadly based. 
E)  focus on resources, environment, and mission. 
A)  specify resources and time frames. 
B)  be developed independently of the internal business environment. 
C)  be developed independently of the external business environment. 
D)  be more general and broadly based. 
E)  focus on resources, environment, and mission.

Question 7

During the decline stage of the product life cycle:

Accepted Answer

A)  demand peaks. 
B)  new competitors enter the industry. 
C)  sales drop. 
D)  managers need to focus their efforts on "getting the product out the door" without sacrificing quality. 
E)  managers must increase production costs. 
A)  demand peaks. 
B)  new competitors enter the industry. 
C)  sales drop. 
D)  managers need to focus their efforts on "getting the product out the door" without sacrificing quality. 
E)  managers must increase production costs.

Question 8

In a BCG matrix, _____ are businesses that have a very small share of a market that is not expected to grow.

Accepted Answer

A)  question marks 
B)  cows 
C)  stars 
D)  dogs 
E)  rate busters 
A)  question marks 
B)  cows 
C)  stars 
D)  dogs 
E)  rate busters

Question 9

Nutrimax Inc. identifies its purpose as "to produce the finest cookies in the world while upholding our principles of promoting good health and maintaining environmental sustainability." This purpose is most likely to be the _____ of Nutrimax.

Accepted Answer

A)  strategic goal 
B)  distinctive competence 
C)  mission statement 
D)  operational goal 
E)  tactical goal 
A)  strategic goal 
B)  distinctive competence 
C)  mission statement 
D)  operational goal 
E)  tactical goal

Question 10

A firm pursuing a(n) _____ strategy concentrates on a specific regional market, product line, or group of buyers.

Accepted Answer

A)  overall cost leadership 
B)  divesting 
C)  restraint of trade 
D)  anti-competitive 
E)  focus 
A)  overall cost leadership 
B)  divesting 
C)  restraint of trade 
D)  anti-competitive 
E)  focus

Question 11

Which of the following statements is true about the differentiation strategy?

Accepted Answer

A)  It enables a firm to sell products at lower prices and still make profits. 
B)  It enables a firm to charge more for its products. 
C)  It is aimed at reducing production costs by using inexpensive raw materials. 
D)  It involves making simple, low-priced products for the mass market. 
E)  It cannot be used by companies that only offer services. 
A)  It enables a firm to sell products at lower prices and still make profits. 
B)  It enables a firm to charge more for its products. 
C)  It is aimed at reducing production costs by using inexpensive raw materials. 
D)  It involves making simple, low-priced products for the mass market. 
E)  It cannot be used by companies that only offer services.

Question 12

Supertech Inc. is a large firm that manufactures gadgets and mobile phones. The company sells a line of inexpensive mobile phones exclusively targeted at youth and teenagers in Selenasia. Which of the following strategies is illustrated in the scenario?

Accepted Answer

A)  Differentiation strategy 
B)  Focus strategy 
C)  Restraint of trade strategy 
D)  Anti-competitive strategy 
E)  Divesting strategy 
A)  Differentiation strategy 
B)  Focus strategy 
C)  Restraint of trade strategy 
D)  Anti-competitive strategy 
E)  Divesting strategy

Question 13

A difference between tactical and strategic plans is that:

Accepted Answer

A)  tactical plans have a more concrete focus. 
B)  tactical plans are set for and by the board of directors. 
C)  tactical plans have broader time horizons. 
D)  strategic plans are developed by first-line managers. 
E)  strategic plans deal with the day-to-day operations of an organization. 
A)  tactical plans have a more concrete focus. 
B)  tactical plans are set for and by the board of directors. 
C)  tactical plans have broader time horizons. 
D)  strategic plans are developed by first-line managers. 
E)  strategic plans deal with the day-to-day operations of an organization.

Question 14

Which of the following will help a company achieve an overall cost leadership?

Accepted Answer

A)  Manufacturing customized products in small quantities 
B)  Increasing after-purchase services 
C)  Using simple inexpensive product packaging 
D)  Selling products at very high prices 
E)  Increasing overhead costs 
A)  Manufacturing customized products in small quantities 
B)  Increasing after-purchase services 
C)  Using simple inexpensive product packaging 
D)  Selling products at very high prices 
E)  Increasing overhead costs

Question 15

In the context of the BCG matrix, _____ are businesses that have the largest share of a rapidly growing market.

Accepted Answer

A)  question marks 
B)  stars 
C)  cows 
D)  dogs 
E)  entropies 
A)  question marks 
B)  stars 
C)  cows 
D)  dogs 
E)  entropies

Question 16

An organization that pursues a single-product strategy:

Accepted Answer

A)  clusters relayed products in a single strategic business unit. 
B)  manufactures a range of products that are related to each other in some way. 
C)  uses a single marketing strategy for all its products. 
D)  operates in a single geographic market. 
E)  creates a separate business unit for each product it sells. 
A)  clusters relayed products in a single strategic business unit. 
B)  manufactures a range of products that are related to each other in some way. 
C)  uses a single marketing strategy for all its products. 
D)  operates in a single geographic market. 
E)  creates a separate business unit for each product it sells.

Question 17

Which of the following strategies can help companies during the maturity stage of a product life cycle?

Accepted Answer

A)  Manufacturing products in small quantities intermittently than in bulk 
B)  Drastically increasing product prices 
C)  Focusing on keeping costs low 
D)  Sacrificing the quality of products 
E)  Focusing more on strategies to slow the entry of competitors 
A)  Manufacturing products in small quantities intermittently than in bulk 
B)  Drastically increasing product prices 
C)  Focusing on keeping costs low 
D)  Sacrificing the quality of products 
E)  Focusing more on strategies to slow the entry of competitors

Question 18

Strategic goals are set by:

Accepted Answer

A)  first-line managers. 
B)  middle managers. 
C)  top managers. 
D)  stockholders. 
E)  consumers. 
A)  first-line managers. 
B)  middle managers. 
C)  top managers. 
D)  stockholders. 
E)  consumers.

Question 19

Operational goals are set by:

Accepted Answer

A)  first-line managers. 
B)  top-level managers. 
C)  the board of directors. 
D)  shareholders. 
E)  investors. 
A)  first-line managers. 
B)  top-level managers. 
C)  the board of directors. 
D)  shareholders. 
E)  investors.

Question 20

In a BCG matrix, _____ are businesses that have a large share of a market that is not expected to grow substantially.

Accepted Answer

A)  stars 
B)  cash cows 
C)  entropies 
D)  question marks 
E)  dogs 
A)  stars 
B)  cash cows 
C)  entropies 
D)  question marks 
E)  dogs

In the GE Business Screen portfolio management technique, businesses that have good competitive position in an attractive industry are known as:

Which of the following is an organizational strength?

The top managers at Redd Inc. are developing a plan to reduce the production costs of the company. By reducing costs, Redd wants to gain a competitive advantage of cost leadership. The plan being developed in this scenario is a(n) _____ plan.

Aries Inc. manufactures dairy products and detergents.This is an example of _____ diversification.

Understanding the stages in the _____ helps managers recognize that strategies need to evolve over time.

In contrast to strategic plans, tactical plans must:

During the decline stage of the product life cycle:

In a BCG matrix, _____ are businesses that have a very small share of a market that is not expected to grow.

Nutrimax Inc. identifies its purpose as "to produce the finest cookies in the world while upholding our principles of promoting good health and maintaining environmental sustainability." This purpose is most likely to be the _____ of Nutrimax.

A firm pursuing a(n) _____ strategy concentrates on a specific regional market, product line, or group of buyers.

Which of the following statements is true about the differentiation strategy?

Supertech Inc. is a large firm that manufactures gadgets and mobile phones. The company sells a line of inexpensive mobile phones exclusively targeted at youth and teenagers in Selenasia. Which of the following strategies is illustrated in the scenario?

A difference between tactical and strategic plans is that:

Which of the following will help a company achieve an overall cost leadership?

In the context of the BCG matrix, _____ are businesses that have the largest share of a rapidly growing market.

An organization that pursues a single-product strategy:

Which of the following strategies can help companies during the maturity stage of a product life cycle?

Strategic goals are set by:

Operational goals are set by:

In a BCG matrix, _____ are businesses that have a large share of a market that is not expected to grow substantially.

Understanding the Managers Job

The Environment of Organizations and Managers

Managing Decision Making

Entrepreneurship and New Venture Management

Organization Structure and Design

Organization Change and Innovation

Managing Human Resources in Organizations

Basic Elements of Individual Behavior in Organizations

Managing Employee Motivation and Performance

Leadership and Influence Processes

Communication in Organizations

Managing Work Groups and Teams

Basic Elements of Control

Managing Operations, Quality, and Productivity

Filters

Exam 3: Planning and Strategic Management

In the GE Business Screen portfolio management technique, businesses that have good competitive position in an attractive industry are known as:

Which of the following is an organizational strength?

The top managers at Redd Inc. are developing a plan to reduce the production costs of the company. By reducing costs, Redd wants to gain a competitive advantage of cost leadership. The plan being developed in this scenario is a(n) _____ plan.

Aries Inc. manufactures dairy products and detergents.This is an example of _____ diversification.

Understanding the stages in the _____ helps managers recognize that strategies need to evolve over time.

In contrast to strategic plans, tactical plans must:

During the decline stage of the product life cycle:

In a BCG matrix, _____ are businesses that have a very small share of a market that is not expected to grow.

Nutrimax Inc. identifies its purpose as "to produce the finest cookies in the world while upholding our principles of promoting good health and maintaining environmental sustainability." This purpose is most likely to be the _____ of Nutrimax.

A firm pursuing a(n) _____ strategy concentrates on a specific regional market, product line, or group of buyers.

Which of the following statements is true about the differentiation strategy?

Supertech Inc. is a large firm that manufactures gadgets and mobile phones. The company sells a line of inexpensive mobile phones exclusively targeted at youth and teenagers in Selenasia. Which of the following strategies is illustrated in the scenario?

A difference between tactical and strategic plans is that:

Which of the following will help a company achieve an overall cost leadership?

In the context of the BCG matrix, _____ are businesses that have the largest share of a rapidly growing market.

An organization that pursues a single-product strategy:

Which of the following strategies can help companies during the maturity stage of a product life cycle?

Strategic goals are set by:

Operational goals are set by:

In a BCG matrix, _____ are businesses that have a large share of a market that is not expected to grow substantially.

Understanding the Managers Job

The Environment of Organizations and Managers

Managing Decision Making

Entrepreneurship and New Venture Management

Organization Structure and Design

Organization Change and Innovation

Managing Human Resources in Organizations

Basic Elements of Individual Behavior in Organizations

Managing Employee Motivation and Performance

Leadership and Influence Processes

Communication in Organizations

Managing Work Groups and Teams

Basic Elements of Control

Managing Operations, Quality, and Productivity

Filters