Question 1

Which of the following is a determinant of an organization's competitive position in the context of the GE Business Screen?

Accepted Answer

A)  Government policies 
B)  Market size 
C)  Technological know-how 
D)  Capital requirements 
E)  Market growth 
A)  Government policies 
B)  Market size 
C)  Technological know-how 
D)  Capital requirements 
E)  Market growth

Question 2

During the growth stage of a product life cycle, companies should focus on:

Accepted Answer

A)  creating product differentiation. 
B)  increasing overhead costs. 
C)  sacrificing product quality. 
D)  using anti-competitive strategies. 
E)  divesting. 
A)  creating product differentiation. 
B)  increasing overhead costs. 
C)  sacrificing product quality. 
D)  using anti-competitive strategies. 
E)  divesting.

Question 3

An organization's _____ is a statement of its fundamental, unique purpose that sets a business apart from other firms of its type and identifies the scope of the business's operations in product and market terms.

Accepted Answer

A)  mission 
B)  statement of qualification 
C)  article of incorporation 
D)  operational goal 
E)  tactical plan 
A)  mission 
B)  statement of qualification 
C)  article of incorporation 
D)  operational goal 
E)  tactical plan

Question 4

The set of processes for determining the strategies that will be used by an organization is known as:

Accepted Answer

A)  strategy implementation. 
B)  environmental scanning. 
C)  strategy formulation. 
D)  divesting. 
E)  deskilling. 
A)  strategy implementation. 
B)  environmental scanning. 
C)  strategy formulation. 
D)  divesting. 
E)  deskilling.

Question 5

Virtually all larger businesses in the United States use a(n) _____ strategy.

Accepted Answer

A)  related-diversification 
B)  single-product 
C)  divestiture 
D)  unrelated diversification 
E)  single-service 
A)  related-diversification 
B)  single-product 
C)  divestiture 
D)  unrelated diversification 
E)  single-service

Question 6

Match the following numbered items with the most correct response letter.
A response may be used once, more than once, or not at all.
You are contemplating opening a dry cleaning business in a commuter town. Assess the following information using SWOT analysis.
-Range of markets in which the organization competes

Accepted Answer

A) Distinctive competence 
B) Resource deployment 
C) Scope 
D) Synergy 
A) Distinctive competence 
B) Resource deployment 
C) Scope 
D) Synergy

Question 7

A(n) _____ is a single-use plan for a large set of activities. It might consist of identifying procedures for introducing a new product line, opening a new facility, or changing the organization's mission.

Accepted Answer

A)  policy 
B)  entropy 
C)  regulation 
D)  project 
E)  program 
A)  policy 
B)  entropy 
C)  regulation 
D)  project 
E)  program

Question 8

Match the following numbered items with the most correct response letter.
A response may be used once, more than once, or not at all.
You are contemplating opening a dry cleaning business in a commuter town. Assess the following information using SWOT analysis.
-Something the organization is very good at doing

Accepted Answer

A) Distinctive competence 
B) Resource deployment 
C) Scope 
D) Synergy 
A) Distinctive competence 
B) Resource deployment 
C) Scope 
D) Synergy

Question 9

A(n) ____ goal for a waste management plant could be "to develop a recycling campaign for rural communities of less than 1000 customers." It would develop naturally out of a strategic goal "to increase recycling by 10% everywhere."

Accepted Answer

A)  strategic 
B)  departmental 
C)  functional 
D)  divestiture 
E)  tactical 
A)  strategic 
B)  departmental 
C)  functional 
D)  divestiture 
E)  tactical

Question 10

_____ refers to the methods by which strategies are operationalized or executed within the organization; it focuses on the processes through which strategies are achieved.

Accepted Answer

A)  Strategy implementation 
B)  Strategy mapping 
C)  Strategy formulation 
D)  Strategy visualization 
E)  Strategy conceptualization 
A)  Strategy implementation 
B)  Strategy mapping 
C)  Strategy formulation 
D)  Strategy visualization 
E)  Strategy conceptualization

Question 11

The choices a firm makes as to where and how much to invest reflect issues of _____.

Accepted Answer

A)  value migration 
B)  distinctive competencies 
C)  resource deployment 
D)  deskilling 
E)  industrial symbiosis 
A)  value migration 
B)  distinctive competencies 
C)  resource deployment 
D)  deskilling 
E)  industrial symbiosis

Question 12

Which of the following statements is true about tactical goals?

Accepted Answer

A)  Their focus is on how to operationalize actions necessary to achieve strategic goals. 
B)  Their focus is on broad and long-term issues such as increasing the profitability of the organization over a period of time. 
C)  They are set for and by top managers. 
D)  They are set for and by the board of directors. 
E)  They are broad and nonspecific. 
A)  Their focus is on how to operationalize actions necessary to achieve strategic goals. 
B)  Their focus is on broad and long-term issues such as increasing the profitability of the organization over a period of time. 
C)  They are set for and by top managers. 
D)  They are set for and by the board of directors. 
E)  They are broad and nonspecific.

Question 13

An organization's fundamental purpose is stated in the organization's _____.

Accepted Answer

mission statement
An organization's miss

Question 14

In the context of SWOT analysis, which of the following would be considered as an organization's strength?

Accepted Answer

A)  Exiting competitors 
B)  High overhead costs 
C)  Favorable government policies 
D)  Motivated employees 
E)  High employee turnover rate 
A)  Exiting competitors 
B)  High overhead costs 
C)  Favorable government policies 
D)  Motivated employees 
E)  High employee turnover rate

Question 15

During the maturity stage of the product life cycle,:

Accepted Answer

A)  most companies start hiring more employees. 
B)  managers need to focus their efforts on "getting product the out the door" without sacrificing quality. 
C)  the sales volume is the highest. 
D)  more competitors enter the industry. 
E)  the overall demand growth for a product begins to slow down. 
A)  most companies start hiring more employees. 
B)  managers need to focus their efforts on "getting product the out the door" without sacrificing quality. 
C)  the sales volume is the highest. 
D)  more competitors enter the industry. 
E)  the overall demand growth for a product begins to slow down.

Question 16

Which of the following statements is true about a tactical plan?

Accepted Answer

A)  It is an organized sequence of steps designed to execute strategic plans. 
B)  It is exclusively developed by the board of directors. 
C)  It is more broad and nonspecific when compared to a strategic plan. 
D)  It is developed independently of the external business environment. 
E)  It does not specify time frames and resources. 
A)  It is an organized sequence of steps designed to execute strategic plans. 
B)  It is exclusively developed by the board of directors. 
C)  It is more broad and nonspecific when compared to a strategic plan. 
D)  It is developed independently of the external business environment. 
E)  It does not specify time frames and resources.

Question 17

Which of the following questions that companies consider is most closely related to the resource deployment component of a strategy?

Accepted Answer

A)  How much money should we invest in our business units overseas? 
B)  What are the markets in which we can compete? 
C)  What are the preferences of our customers? 
D)  Who are our competitors? 
E)  How can we make our products more unique in a way that they stand out? 
A)  How much money should we invest in our business units overseas? 
B)  What are the markets in which we can compete? 
C)  What are the preferences of our customers? 
D)  Who are our competitors? 
E)  How can we make our products more unique in a way that they stand out?

Question 18

Match the following numbered items with the most correct response letter.
A response may be used once, more than once, or not at all.
You are contemplating opening a dry cleaning business in a commuter town. Assess the following information using SWOT analysis.
-How the organization distributes its resources across various areas

Accepted Answer

A) Distinctive competence 
B) Resource deployment 
C) Scope 
D) Synergy 
A) Distinctive competence 
B) Resource deployment 
C) Scope 
D) Synergy

Question 19

Match the following numbered items with the most correct response letter.
A response may be used once, more than once, or not at all.
You are contemplating opening a dry cleaning business in a commuter town. Assess the following information using SWOT analysis.
-When a company's combined economic value of its businesses is greater than the sum of their separate economic value

Accepted Answer

A) Distinctive competence 
B) Resource deployment 
C) Scope 
D) Synergy 
A) Distinctive competence 
B) Resource deployment 
C) Scope 
D) Synergy

Question 20

Libra Travels LLC. has a few back-up buses at key locations where the business operates. This is to be prepared in case any of its day-tour buses break down. This is an example of a:

Accepted Answer

A)  project. 
B)  program. 
C)  regulation. 
D)  single-use plan. 
E)  contingency plan. 
A)  project. 
B)  program. 
C)  regulation. 
D)  single-use plan. 
E)  contingency plan.

Which of the following is a determinant of an organization's competitive position in the context of the GE Business Screen?

During the growth stage of a product life cycle, companies should focus on:

An organization's _____ is a statement of its fundamental, unique purpose that sets a business apart from other firms of its type and identifies the scope of the business's operations in product and market terms.

The set of processes for determining the strategies that will be used by an organization is known as:

Virtually all larger businesses in the United States use a(n) _____ strategy.

A(n) _____ is a single-use plan for a large set of activities. It might consist of identifying procedures for introducing a new product line, opening a new facility, or changing the organization's mission.

A(n) ____ goal for a waste management plant could be "to develop a recycling campaign for rural communities of less than 1000 customers." It would develop naturally out of a strategic goal "to increase recycling by 10% everywhere."

_____ refers to the methods by which strategies are operationalized or executed within the organization; it focuses on the processes through which strategies are achieved.

The choices a firm makes as to where and how much to invest reflect issues of _____.

Which of the following statements is true about tactical goals?

An organization's fundamental purpose is stated in the organization's _____.

In the context of SWOT analysis, which of the following would be considered as an organization's strength?

During the maturity stage of the product life cycle,:

Which of the following statements is true about a tactical plan?

Which of the following questions that companies consider is most closely related to the resource deployment component of a strategy?

Libra Travels LLC. has a few back-up buses at key locations where the business operates. This is to be prepared in case any of its day-tour buses break down. This is an example of a:

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

Which of the following is a determinant of an organization's competitive position in the context of the GE Business Screen?

During the growth stage of a product life cycle, companies should focus on:

An organization's _____ is a statement of its fundamental, unique purpose that sets a business apart from other firms of its type and identifies the scope of the business's operations in product and market terms.

The set of processes for determining the strategies that will be used by an organization is known as:

Virtually all larger businesses in the United States use a(n) _____ strategy.

A(n) _____ is a single-use plan for a large set of activities. It might consist of identifying procedures for introducing a new product line, opening a new facility, or changing the organization's mission.

A(n) ____ goal for a waste management plant could be "to develop a recycling campaign for rural communities of less than 1000 customers." It would develop naturally out of a strategic goal "to increase recycling by 10% everywhere."

_____ refers to the methods by which strategies are operationalized or executed within the organization; it focuses on the processes through which strategies are achieved.

The choices a firm makes as to where and how much to invest reflect issues of _____.

Which of the following statements is true about tactical goals?

An organization's fundamental purpose is stated in the organization's _____.

In the context of SWOT analysis, which of the following would be considered as an organization's strength?

During the maturity stage of the product life cycle,:

Which of the following statements is true about a tactical plan?

Which of the following questions that companies consider is most closely related to the resource deployment component of a strategy?

Libra Travels LLC. has a few back-up buses at key locations where the business operates. This is to be prepared in case any of its day-tour buses break down. This is an example of a:

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