Question 1

Activities that transform inputs into the products and services of the firm,as well as maintenance of machines,are part of the ________.

Accepted Answer

A)  operations component of the value chain 
B)  procurement component of the value chain 
C)  inbound logistics component of the value chain 
D)  outbound logistics component of the value chain 
A)  operations component of the value chain 
B)  procurement component of the value chain 
C)  inbound logistics component of the value chain 
D)  outbound logistics component of the value chain

Question 2

A ________ is an interrelated set of activities that can deliver competitive advantage not only in the short term but also in the long term.

Accepted Answer

A)  core competence 
B)  corporate strategy 
C)  competitive advantage 
D)  strategic vision 
A)  core competence 
B)  corporate strategy 
C)  competitive advantage 
D)  strategic vision

Question 3

What is core competence?

Accepted Answer

A core competence is an interrelated set

Question 4

In the value chain,________ include activities that move the product or service from the firm to the customers.

Accepted Answer

A)  technology developments 
B)  services 
C)  marketing and sales 
D)  outbound logistics 
A)  technology developments 
B)  services 
C)  marketing and sales 
D)  outbound logistics

Question 5

Managers need to focus on two basic dimensions of the technology environment: product and process changes.

Accepted Answer

A) True 
 B)False

Question 6

Statements of strategic intent are typically longer than mission statements.

Accepted Answer

A) True 
 B)False

Question 7

If a firm can earn ________,the firm is creating value for its shareholders.

Accepted Answer

A)  diminishing returns 
B)  above-average returns 
C)  marginal returns 
D)  market-average returns 
A)  diminishing returns 
B)  above-average returns 
C)  marginal returns 
D)  market-average returns

Question 8

The balance of power between a firm and its customers affects its ability to compete effectively and earn above-average returns.

Accepted Answer

A) True 
 B)False

Question 9

________ involve a country's infrastructure,such as roads,telecommunications,air links,arable land,deep water harbors,mineral resources,forests,and climate.

Accepted Answer

A)  Physical forces 
B)  Institutional forces 
C)  Sociocultural forces 
D)  Geopolitical forces 
A)  Physical forces 
B)  Institutional forces 
C)  Sociocultural forces 
D)  Geopolitical forces

Question 10

SockUp is a company that manufactures socks of different sizes,types,and colors for men,women,and children.The company aims at being the lowest-cost provider and charges slightly lower than the market price.This is an example of ________.

Accepted Answer

A)  multipoint competition strategy 
B)  integrated leadership strategy 
C)  differentiation strategy 
D)  cost leadership strategy 
A)  multipoint competition strategy 
B)  integrated leadership strategy 
C)  differentiation strategy 
D)  cost leadership strategy

Question 11

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

Accepted Answer

A)  determining strategic vision 
B)  securing interim financing 
C)  establishing objectives 
D)  formulating strategy 
A)  determining strategic vision 
B)  securing interim financing 
C)  establishing objectives 
D)  formulating strategy

Question 12

In the value chain,________ facilitate the creation of the product or service and its transfer to the customer.

Accepted Answer

A)  primary activities 
B)  tertiary activities 
C)  support activities 
D)  procurement activities 
A)  primary activities 
B)  tertiary activities 
C)  support activities 
D)  procurement activities

Question 13

Action Shoes is a company that manufactures shoes.It has a lot of competitors in the market.However,it only builds its strength around market segments that the other companies avoid.It can be said that Action Shoes understands the ________ among its competitors.

Accepted Answer

A)  substitutes 
B)  suppliers 
C)  new entrants 
D)  nature of rivalry 
A)  substitutes 
B)  suppliers 
C)  new entrants 
D)  nature of rivalry

Question 14

Which of the following is the first step in managing the value chain?

Accepted Answer

A)  analyze how suppliers, distributors, and other business partners fit into a value net 
B)  develop valuable capabilities and use them to provide products that are superior in value 
C)  determine where in the value chain there is potential to add the greatest value 
D)  use formulated strategies to earn above-average returns 
A)  analyze how suppliers, distributors, and other business partners fit into a value net 
B)  develop valuable capabilities and use them to provide products that are superior in value 
C)  determine where in the value chain there is potential to add the greatest value 
D)  use formulated strategies to earn above-average returns

Question 15

What part of a SWOT analysis focuses on the internal environment?

Accepted Answer

A)  strengths and weaknesses 
B)  weaknesses and threats 
C)  opportunities and threats 
D)  strengths and opportunities 
A)  strengths and weaknesses 
B)  weaknesses and threats 
C)  opportunities and threats 
D)  strengths and opportunities

Question 16

What are product and process technological changes?

Accepted Answer

Technology is a external environment for

Question 17

Which of the following,if true,provides the best explanation of why consumers are willing to pay a premium price for Starbucks coffee?

Accepted Answer

A)  Starbucks has lower costs than its competitors. 
B)  Starbucks has achieved economies of scale. 
C)  Starbucks has invested in the latest technology to increase production. 
D)  Starbucks differentiates itself through its product, service, and brand reputation. 
A)  Starbucks has lower costs than its competitors. 
B)  Starbucks has achieved economies of scale. 
C)  Starbucks has invested in the latest technology to increase production. 
D)  Starbucks differentiates itself through its product, service, and brand reputation.

Question 18

Federal spending pushes the federal deficit up,causing an increase in interest rates.What is the LEAST likely result of this occurrence?

Accepted Answer

A)  unemployment increases 
B)  it becomes more expensive to borrow money 
C)  businesses expand at a slower rate 
D)  consumer spending increases 
A)  unemployment increases 
B)  it becomes more expensive to borrow money 
C)  businesses expand at a slower rate 
D)  consumer spending increases

Question 19

What is the purpose of a strategic vision?

Accepted Answer

The strategic vision provides a view of

Question 20

Explain the cost leadership strategy.

Accepted Answer

One of the strategies for achieving a co

Activities that transform inputs into the products and services of the firm,as well as maintenance of machines,are part of the ________.

A ________ is an interrelated set of activities that can deliver competitive advantage not only in the short term but also in the long term.

What is core competence?

In the value chain,________ include activities that move the product or service from the firm to the customers.

Managers need to focus on two basic dimensions of the technology environment: product and process changes.

Statements of strategic intent are typically longer than mission statements.

If a firm can earn ________,the firm is creating value for its shareholders.

The balance of power between a firm and its customers affects its ability to compete effectively and earn above-average returns.

________ involve a country's infrastructure,such as roads,telecommunications,air links,arable land,deep water harbors,mineral resources,forests,and climate.

SockUp is a company that manufactures socks of different sizes,types,and colors for men,women,and children.The company aims at being the lowest-cost provider and charges slightly lower than the market price.This is an example of ________.

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

In the value chain,________ facilitate the creation of the product or service and its transfer to the customer.

Action Shoes is a company that manufactures shoes.It has a lot of competitors in the market.However,it only builds its strength around market segments that the other companies avoid.It can be said that Action Shoes understands the ________ among its competitors.

Which of the following is the first step in managing the value chain?

What part of a SWOT analysis focuses on the internal environment?

What are product and process technological changes?

Which of the following,if true,provides the best explanation of why consumers are willing to pay a premium price for Starbucks coffee?

Federal spending pushes the federal deficit up,causing an increase in interest rates.What is the LEAST likely result of this occurrence?

What is the purpose of a strategic vision?

Explain the cost leadership strategy.

The Nature of Management

Social Responsibility and Managerial Ethics

International Management and Globalization

Planning

Organizational Structure and Design

Managing Diverse Human Resources

Leadership

Motivation

Groups and Teams

Communication and Negotiation

Individual and Group Decision Making

Operations Management

Control

Organizational Change and Development

Filters

Exam 4: Strategic Management

Activities that transform inputs into the products and services of the firm,as well as maintenance of machines,are part of the ________.

A ________ is an interrelated set of activities that can deliver competitive advantage not only in the short term but also in the long term.

What is core competence?

In the value chain,________ include activities that move the product or service from the firm to the customers.

Managers need to focus on two basic dimensions of the technology environment: product and process changes.

Statements of strategic intent are typically longer than mission statements.

If a firm can earn ________,the firm is creating value for its shareholders.

The balance of power between a firm and its customers affects its ability to compete effectively and earn above-average returns.

________ involve a country's infrastructure,such as roads,telecommunications,air links,arable land,deep water harbors,mineral resources,forests,and climate.

SockUp is a company that manufactures socks of different sizes,types,and colors for men,women,and children.The company aims at being the lowest-cost provider and charges slightly lower than the market price.This is an example of ________.

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

In the value chain,________ facilitate the creation of the product or service and its transfer to the customer.

Action Shoes is a company that manufactures shoes.It has a lot of competitors in the market.However,it only builds its strength around market segments that the other companies avoid.It can be said that Action Shoes understands the ________ among its competitors.

Which of the following is the first step in managing the value chain?

What part of a SWOT analysis focuses on the internal environment?

What are product and process technological changes?

Which of the following,if true,provides the best explanation of why consumers are willing to pay a premium price for Starbucks coffee?

Federal spending pushes the federal deficit up,causing an increase in interest rates.What is the LEAST likely result of this occurrence?

What is the purpose of a strategic vision?

Explain the cost leadership strategy.

The Nature of Management

Social Responsibility and Managerial Ethics

International Management and Globalization

Planning

Organizational Structure and Design

Managing Diverse Human Resources

Leadership

Motivation

Groups and Teams

Communication and Negotiation

Individual and Group Decision Making

Operations Management

Control

Organizational Change and Development

Filters