Question 1

The difficulties with partnerships include all of the following except _____.

Accepted Answer

A)  a firm enjoys only part of the growth and profits experienced 
B)  clashes in company culture can erode cooperation between firms 
C)  partnerships can have high administrative costs 
D)  evidence in some environments that partnerships lead to poorer performance 
E)  firms gain access to resources previously prohibited 
A)  a firm enjoys only part of the growth and profits experienced 
B)  clashes in company culture can erode cooperation between firms 
C)  partnerships can have high administrative costs 
D)  evidence in some environments that partnerships lead to poorer performance 
E)  firms gain access to resources previously prohibited E

Question 2

The means to improve the likelihood of success of a partnership include all of the following except _____.

Accepted Answer

A)  establish clearly the roles of the parties 
B)  ensure that meetings between the two parties are formal and at a senior level to avoid interference in the venture 
C)  anticipate and plan for cultural differences 
D)  keep top managers involved in the process so that middle managers stay committed 
E)  establish a strategic plan for partnership that outlines specific objectives 
A)  establish clearly the roles of the parties 
B)  ensure that meetings between the two parties are formal and at a senior level to avoid interference in the venture 
C)  anticipate and plan for cultural differences 
D)  keep top managers involved in the process so that middle managers stay committed 
E)  establish a strategic plan for partnership that outlines specific objectives B

Question 3

Alliances between units of government and business _____.

Accepted Answer

A)  never occur in the United States 
B)  existed in the early part of the 1900s but now are prevented by anti-trust law 
C)  are in severe decline because they violate the free market orientation of the nation 
D)  are flourishing in the United States 
E)  only occur in environments that are transitioning from centralized economies to market economies 
A)  never occur in the United States 
B)  existed in the early part of the 1900s but now are prevented by anti-trust law 
C)  are in severe decline because they violate the free market orientation of the nation 
D)  are flourishing in the United States 
E)  only occur in environments that are transitioning from centralized economies to market economies D

Question 4

Discuss the criteria that should be examined in a functional strategy audit of R&D technology

Accepted Answer

• research focus: product, process, appl

Question 5

Discuss the range of external stakeholders that potentially can impact a firm.

Accepted Answer

The range of external stakeholders that

Question 6

What are some of the additional steps that can help to lead to success of an alliance?

Accepted Answer

• through careful and systematic study,

Question 7

The companies that are the most successful in implementing their strategies _____.

Accepted Answer

A)  create a strategic vision throughout the company with the full involvement of the employees 
B)  locate in growing industries so that there are extensive opportunities for employees 
C)  locate in mature industries where operations are simple and clear cut 
D)  have limited levels of organizational structure so that communication from the top to the bottom of the organization is direct 
E)  pursue decentralized efforts so there is limited need for different functional areas to interact as they implement the firm's strategy 
A)  create a strategic vision throughout the company with the full involvement of the employees 
B)  locate in growing industries so that there are extensive opportunities for employees 
C)  locate in mature industries where operations are simple and clear cut 
D)  have limited levels of organizational structure so that communication from the top to the bottom of the organization is direct 
E)  pursue decentralized efforts so there is limited need for different functional areas to interact as they implement the firm's strategy

Question 8

The power of stakeholders is increased by all of the following except _____.

Accepted Answer

A)  they hold a legal or contractual right to make decisions that affect the organization 
B)  they hold economic power that impacts the organization 
C)  they hold knowledge that is important to the organization 
D)  they hold little influence that can influence the environmental uncertainty facing the firm 
E)  they hold political power that impacts the organization 
A)  they hold a legal or contractual right to make decisions that affect the organization 
B)  they hold economic power that impacts the organization 
C)  they hold knowledge that is important to the organization 
D)  they hold little influence that can influence the environmental uncertainty facing the firm 
E)  they hold political power that impacts the organization

Question 9

A functional strategy audit _____.

Accepted Answer

A)  examines one functional area in depth to determine how that functional area operates 
B)  examines all functional areas to determine their internal consistency, consistency across functional areas, and the extent to which they support each other 
C)  examines the financial returns of the organization that are an outcome of one functional area 
D)  is an accounting audit that is conducted within one strategy functional area 
E)  examines the key functional area of the organization and the financial returns that are provided by those functional areas 
A)  examines one functional area in depth to determine how that functional area operates 
B)  examines all functional areas to determine their internal consistency, consistency across functional areas, and the extent to which they support each other 
C)  examines the financial returns of the organization that are an outcome of one functional area 
D)  is an accounting audit that is conducted within one strategy functional area 
E)  examines the key functional area of the organization and the financial returns that are provided by those functional areas

Question 10

Financial intermediaries include all of the following except _____.

Accepted Answer

A)  investment advisors 
B)  brokerage houses 
C)  mutual funds 
D)  stock regulators 
E)  pension funds 
A)  investment advisors 
B)  brokerage houses 
C)  mutual funds 
D)  stock regulators 
E)  pension funds

Question 11

Relative to mergers and acquisitions or internal venturing, joint ventures are considered to be _____.

Accepted Answer

A)  more risky 
B)  less risky 
C)  no difference in risk than either mergers or acquisitions and internal venturing 
D)  less risky than mergers and acquisitions but more risky than internal venturing 
E)  more risky than mergers and acquisitions but less risky than internal venturing 
A)  more risky 
B)  less risky 
C)  no difference in risk than either mergers or acquisitions and internal venturing 
D)  less risky than mergers and acquisitions but more risky than internal venturing 
E)  more risky than mergers and acquisitions but less risky than internal venturing

Question 12

External stakeholders for firms will _____.

Accepted Answer

A)  be consistent in importance for all firms 
B)  have the top two or three consistent in importance for all firms 
C)  have the top one consistent in importance for all firms 
D)  vary in importance firm to firm 
E)  be difficult to identify for most firms 
A)  be consistent in importance for all firms 
B)  have the top two or three consistent in importance for all firms 
C)  have the top one consistent in importance for all firms 
D)  vary in importance firm to firm 
E)  be difficult to identify for most firms

Question 13

Industry labor unions like the Hotel Employees and Restaurant Employees International Union (HERE) often work under neutrality agreements. These agreements _____.

Accepted Answer

A)  make sense in non-union cities 
B)  mean employees have the right to vote in a secret ballot to determine whether they wish to be represented by the union 
C)  mean the hotel does not have the right to contest union organization 
D)  permit changes after the parties finish negotiations to address unforeseen problems 
E)  allow a number of interest-based study teams to develop solutions 
A)  make sense in non-union cities 
B)  mean employees have the right to vote in a secret ballot to determine whether they wish to be represented by the union 
C)  mean the hotel does not have the right to contest union organization 
D)  permit changes after the parties finish negotiations to address unforeseen problems 
E)  allow a number of interest-based study teams to develop solutions

Question 14

One of the best ways to reduce unfavorable regulation in an industry is to _____.

Accepted Answer

A)  contribute to political campaigns 
B)  operate in a manner consistent with the values of society 
C)  maintain a low profile in the society 
D)  hire premier lawyers to fight regulations in the courts as they are proposed 
E)  join business alliances to oppose such regulations 
A)  contribute to political campaigns 
B)  operate in a manner consistent with the values of society 
C)  maintain a low profile in the society 
D)  hire premier lawyers to fight regulations in the courts as they are proposed 
E)  join business alliances to oppose such regulations

Question 15

The response to special interest groups that represent smaller social groups most likely will be _____.

Accepted Answer

A)  buffering 
B)  ignoring them 
C)  partnering with them 
D)  actively opposing them 
E)  done reluctantly 
A)  buffering 
B)  ignoring them 
C)  partnering with them 
D)  actively opposing them 
E)  done reluctantly

Question 16

In the text Wal-Mart is an example of a firm that _____.

Accepted Answer

A)  uses political power to influence its stakeholders 
B)  experienced problems due to its partnerships 
C)  does not experience problems due to its resistance to partnering 
D)  does not use political power in its partnerships 
E)  does not use formal power 
A)  uses political power to influence its stakeholders 
B)  experienced problems due to its partnerships 
C)  does not experience problems due to its resistance to partnering 
D)  does not use political power in its partnerships 
E)  does not use formal power

Question 17

The advantages of interorganizational relationships include all of the following except _____.

Accepted Answer

A)  ease entering a foreign market 
B)  risk and cost sharing 
C)  clarity of decision making 
D)  organizational decision making 
E)  neutralizing or blocking competitors 
A)  ease entering a foreign market 
B)  risk and cost sharing 
C)  clarity of decision making 
D)  organizational decision making 
E)  neutralizing or blocking competitors

Question 18

Buffering refers to _____.

Accepted Answer

A)  Bill Buffet and the type of investment strategy he normally pursues 
B)  building slack resources in the firm 
C)  techniques that stabilize and predict environmental influences and soften potential jolts 
D)  seeking to increase the profit of the firm by cutting R&D 
E)  expanding the distribution of the firm's products to close off potential entry by strategic competitors 
A)  Bill Buffet and the type of investment strategy he normally pursues 
B)  building slack resources in the firm 
C)  techniques that stabilize and predict environmental influences and soften potential jolts 
D)  seeking to increase the profit of the firm by cutting R&D 
E)  expanding the distribution of the firm's products to close off potential entry by strategic competitors

Question 19

Methods that can be used in buffering the organization include all of the following except_____.

Accepted Answer

A)  market research 
B)  creation of special departments (i.e. legal, recruiting) 
C)  advertising 
D)  public relations 
E)  partnering with key stakeholders 
A)  market research 
B)  creation of special departments (i.e. legal, recruiting) 
C)  advertising 
D)  public relations 
E)  partnering with key stakeholders

Question 20

Collusion among firms in different parts of the world _____.

Accepted Answer

A)  is always illegal 
B)  occurs infrequently 
C)  often is not illegal 
D)  not profitable 
E)  a violation of WTO 
A)  is always illegal 
B)  occurs infrequently 
C)  often is not illegal 
D)  not profitable 
E)  a violation of WTO

The difficulties with partnerships include all of the following except _____.

The means to improve the likelihood of success of a partnership include all of the following except _____.

Alliances between units of government and business _____.

Discuss the criteria that should be examined in a functional strategy audit of R&D technology

Discuss the range of external stakeholders that potentially can impact a firm.

What are some of the additional steps that can help to lead to success of an alliance?

The companies that are the most successful in implementing their strategies _____.

The power of stakeholders is increased by all of the following except _____.

A functional strategy audit _____.

Financial intermediaries include all of the following except _____.

Relative to mergers and acquisitions or internal venturing, joint ventures are considered to be _____.

External stakeholders for firms will _____.

Industry labor unions like the Hotel Employees and Restaurant Employees International Union (HERE) often work under neutrality agreements. These agreements _____.

One of the best ways to reduce unfavorable regulation in an industry is to _____.

The response to special interest groups that represent smaller social groups most likely will be _____.

In the text Wal-Mart is an example of a firm that _____.

The advantages of interorganizational relationships include all of the following except _____.

Buffering refers to _____.

Methods that can be used in buffering the organization include all of the following except_____.

Collusion among firms in different parts of the world _____.

Strategic Management

The Environment and External Stakeholders

Strategic Direction

Organizational Resources and Competitive Advantage

Strategy Formulation at the Business-Unit Level

Corporate-Level Strategy and Restructuring

Strategy Implementation Through Organizational Design and Control

Strategies for Entrepreneurship and Innovation

Global Strategic Management and the Future

Filters

Exam 7: Strategy Implementation Through Interorganizational Relationships and Management of Functional Resources

The difficulties with partnerships include all of the following except _____.

The means to improve the likelihood of success of a partnership include all of the following except _____.

Alliances between units of government and business _____.

Discuss the criteria that should be examined in a functional strategy audit of R&D technology

Discuss the range of external stakeholders that potentially can impact a firm.

What are some of the additional steps that can help to lead to success of an alliance?

The companies that are the most successful in implementing their strategies _____.

The power of stakeholders is increased by all of the following except _____.

A functional strategy audit _____.

Financial intermediaries include all of the following except _____.

Relative to mergers and acquisitions or internal venturing, joint ventures are considered to be _____.

External stakeholders for firms will _____.

Industry labor unions like the Hotel Employees and Restaurant Employees International Union (HERE) often work under neutrality agreements. These agreements _____.

One of the best ways to reduce unfavorable regulation in an industry is to _____.

The response to special interest groups that represent smaller social groups most likely will be _____.

In the text Wal-Mart is an example of a firm that _____.

The advantages of interorganizational relationships include all of the following except _____.

Buffering refers to _____.

Methods that can be used in buffering the organization include all of the following except_____.

Collusion among firms in different parts of the world _____.

Strategic Management

The Environment and External Stakeholders

Strategic Direction

Organizational Resources and Competitive Advantage

Strategy Formulation at the Business-Unit Level

Corporate-Level Strategy and Restructuring

Strategy Implementation Through Organizational Design and Control

Strategies for Entrepreneurship and Innovation

Global Strategic Management and the Future

Filters